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(Reuters) Global oil major BP said the world must invest in the production of oil and gas to avoid sharp price spikes while accelerating the energy transition to combat greenhouse gas emissions.Global gas prices surged seven-fold last year as 3% of global gas supplies were hit following Russia's invasion of Ukraine, forcing countries to boost... Continue Reading →
(PN) China National Offshore Oil Corporation (CNOOC) signed an agreement for two research projects on renewable energies offshore, with funding of R$ 16 million. With a duration of three years, the research will have the participation of more than thirty people, from four different Coppe laboratories, who will work in several areas, including hydrodynamics, aerodynamics,... Continue Reading →
Morgan Stanley's infrastructure investment arm is teaming up with U.S. maritime, energy and logistics solutions company Crowley to advance offshore wind energy solutions for the United States. Investment funds managed by Morgan Stanley Infrastructure Partners (MSIP), a private infrastructure fund platform within Morgan Stanley Investment Management (MSIM), will hold a majority stake in Crowley Wind... Continue Reading →
Eric Haun, Editor Marine News (OE) It’s a big deal when a U.S. president visits an American shipyard, and these trips always send a message. When President Obama spoke at HII’s Newport News Shipbuilding in 2013, he warned of the consequences of sequestration. President Trump’s 2020 speech at Fincantieri Marinette Marine touted a $5.5 billion naval... Continue Reading →
(Reuters) - Colombia's majority state-owned oil company Ecopetrol (ECO.CN) is looking at the possibility of restarting exploration at eight suspended oil and gas contracts, chief executive Ricardo Roa said on Wednesday. The government of leftist President Gustavo Petro has prioritized weaning Colombia off of its dependence on oil and coal, major sources of income for the country,... Continue Reading →
(Reuters) - Brazilian state-run oil company Petrobras (PETR4.SA) expects to continue to produce oil for the next four decades, while also boosting investments in renewables as it seeks to drive an energy transition, an executive said on Tuesday. Joelson Mendes, the firm's Chief Exploration and Production Officer, said at an event hosted by Santander that Petrobras understands... Continue Reading →
(OE) The U.S. Department of the Interior's Bureau of Ocean Energy Management (BOEM) on Tuesday approved the construction of a 704-megawatt (MW) wind farm off the coast of Rhode Island, the fourth major offshore wind project the agency has greenlit as the Biden administration tries to meet a goal of bringing 30 gigawatts (GW) of... Continue Reading →
(OE) While trouble areas continue to emerge in the young U.S. offshore wind industry, analysts at Intelatus Global Partners maintain an optimistic outlook for the industry in the long term. The business intelligence and consulting firm said in its latest U.S. Offshore Wind Report that it sees long-term foundations for the U.S. offshore wind sector... Continue Reading →
(Reuters) Colombia needs to rebuild trust between communities, businesses and the government to successfully execute its energy transition, Minister of Mines and Energy Andres Camacho told journalists on Thursday. Camacho, an electrical engineer who previously worked in the ministry as an adviser, was officially appointed by leftist President Gustavo Petro earlier this month. Camacho faces... Continue Reading →
(OE) Renewable energy firms Mainstream Renewable Power and Ocean Winds have partnered to develop a second ScotWind floating offshore wind site of 500 MW east of Shetland, expanding the overall footprint of the Arven Offshore Wind Farm to 2.3 GW. Arven comprises two sites. The first is the 1.8 GW site east of the Shetland... Continue Reading →
Brazil Energy Insight 