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(offshoreWIND.biz) The Norwegian government has cancelled plans for another fixed-bottom offshore wind tender in the North Sea due to cost concerns, shifting its focus toward developing floating offshore wind projects. On 10 February, the Ministry of Energy announced that it no longer plans to advertise the Sørvest F later this year, which is an extension... Continue Reading →
Frontera Energy Corporation and CGX Energy have received a notice from the Government of Guyana for the cancelation of license for the Corentyne block offshore the South American country. According to the joint venture partners, Guyana has taken the position that the license, together with the petroleum agreement with the government, has terminated and that,... Continue Reading →
BRAVA ENERGIA S.A. (“BRAVA” or “Company”) (B3:BRAV3), pursuant to CVM Resolution No. 44, following the Notice to the Market disclosed on December 17, 2024, hereby informs its investors and the market in general that it signed, on February 7, 2025, with the consortium formed by Azevedo e Travassos Petróleo S. A. (“A&T”) and Petro-Victory Energy... Continue Reading →
(offshore-energy.biz) Suriname’s national oil company (NOC) Staatsolie Maatschappij Suriname (Staatsolie) is taking action to secure the money required to cover its part of the development costs for the first-ever offshore oil field in Suriname, which is operated by France’s energy giant TotalEnergies. Based on the production sharing contract for Block 58, Staatsolie has the right... Continue Reading →
Rhonda Moniz, Contributor Dominion Energy, Inc. provided updates on the 2.6 GW Coastal Virginia Offshore Wind (CVOW) project. The fully permitted project is now approximately 50% complete and remains on track for on-time completion by the end of 2026. CVOW continues to achieve construction milestones, including successfully installing the first 16 transition pieces, which connect the foundation and tower... Continue Reading →
(offshore-energy.biz) Guyana’s Office of the Prime Minister has put its stamp of approval on planned budgetary allocations of $141.45 billion, which is anticipated to lend a helping hand in finishing important projects. As a result, this amount encapsulates a $51.2 billion investment to bolster the country’s flagship gas-to-energy (GtE) project. This sum makes up the lion’s share of a... Continue Reading →
In 2024, the Brazilian average annual production of oil and natural gas reached 4.322 million barrels of oil equivalent per day (boe/d), remaining stable compared to 2023. There was a reduction of 0.5% in 2024, compared to the total for the previous year, which reached a record of 4.344 million boe/d. In the case of... Continue Reading →
(Reuters) Guyana's government plans to issue two licenses this year for oil and gas projects, one for Exxon Mobil's seventh development in the country, Hammerhead, and one for the nation's first natural gas development, Energy Minister Vickram Bharrat told Parliament on Friday. The gas license is conditional on a green light to Exxon and Fulcrum... Continue Reading →
(Reuters) Mitsubishi Corp on Monday said it is reviewing how to proceed with its offshore wind projects in Japan given a "significantly changed" business environment, showing that the country is not immune to rising costs across offshore wind projects globally. Japan, which imports nearly everything for its energy needs, has bet on renewable energy to... Continue Reading →
(Reuters) - Denmark will halt all ongoing offshore wind tenders as the existing framework where no subsidies are offered does not work under current market conditions, its energy minister said on Friday. The global offshore wind industry has been hit by surging costs, rising interest rates and supply chain bottlenecks. Denmark said in December that its latest... Continue Reading →
Brazil Energy Insight 