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Petróleo Brasileiro S.A. – Petrobras informs that a mission was carried out to China, during which Petrobras CEO Jean Paul Prates met with CEOs of Chinese companies and signed cooperation agreements in the energy sector, as specified below: MoU with China National Offshore Oil Corporation - CNOOC, in order to extend collaboration and explore the... Continue Reading →
(Reuters) The low interest in the first-ever auction of offshore wind farm development rights in the Gulf of Mexico marks a potentially serious setback for U.S. President Joe Biden’s green energy agenda, and the U.S. offshore wind sector in general. U.S. officials had touted the auction as a key milestone in Biden’s agenda to make... Continue Reading →
(Reuters) - Colombia's Ministry of Finance has authorized state-controlled energy company Ecopetrol (ECO.CN) to arrange a line of credit worth up to $1 billion with international lenders, the company said on Monday. The loan will be provided by Deutsche Bank AG (DBKGn.DE), Banco Inbursa S.A., Foreign Trade Bank of Latin America S.A. (BLX.N) and ICBC Standard Bank Plc (SBKJLS.UL), Ecopetrol... Continue Reading →
Philip Lewis, Contributor Only one of three available areas was sold during the United States' first ever offshore wind lease sale in the Gulf of Mexico on Tuesday. The auction, held my the Interior Department's Bureau of Ocean Energy Management (BOEM) offered up three sites for offshore wind development, including one in Louisiana (Lake Charles) and... Continue Reading →
(OE) DEME Group has released its half year results saying its orderbook is 7.7 billion euro ($8.3 billion), up 36% compared to H1 2022, reflecting continued healthy demand and strong market positioning across all segments. Group turnover grew 14% year-over-year to 1.5 billion euro ($1.6), with growth in the offshore energy and environmental segments. Net... Continue Reading →
(OE) The fossil fuel price crisis has accelerated the competitiveness of renewable power, according to the International Renewable Energy Agency (IRENA). Around 86% (187GW) of all the newly commissioned renewable capacity in 2022 had lower costs than fossil fuel-fired electricity. IRENA’s report Renewable Power Generation Costs in 2022 indicates that new capacity added since 2000... Continue Reading →
(Reuters) - Oil and natural gas are still projected to meet more than half of the world’s energy needs in 2050, or 54%, Exxon Mobil Corp (XOM.N) said on Monday, with the world failing to keep global temperature increases below 2 degrees Celsius. The largest U.S. oil producer projects the world will reach 25 billion metric tons of energy related... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras informs that it has signed memorandums of understanding (MOUs) with the China Development Bank (CDB) and the Bank of China, aimed at (i) evaluating investment opportunities and cooperation in low carbon and green finance initiatives, (ii) financing Petrobras' supply chain, and (iii) increasing and facilitating commercial and financial exchanges between... Continue Reading →
(Reuters) The U.S. Gulf Coast region, the nation's primary offshore source of oil and gas, has cheap electricity and lacks state mandates for renewable energy procurement, making it an unlikely place to expand one of the most expensive forms of clean energy. That is why players in the nascent U.S. offshore wind industry are looking... Continue Reading →
(OE) State-backed export credit agency Export Finance Norway (Eksfin) has provided loan guarantee financing to Spanish energy company Iberdrola, a transaction that supports Norwegian exporters’ participation in the East Anglia Three wind park project in the UK. Through the transaction, Eksfin has provided guarantee financing for the first time to a Spanish energy company and... Continue Reading →
Brazil Energy Insight 