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(OM) President Joe Biden’s administration is tapping the brakes on offshore wind energy development in the Gulf of Mexico to make way for a new fast-tracked effort to open more federal waters to oil and gas drilling. The move, as reported by New Orleans-based NOLA.com, will delay the first-ever auction of wind energy lease areas in the Gulf by at... Continue Reading →
Offshore construction will soon continue on the South Fork offshore wind project in New York with the installation of the project’s 68-nautical mile (about 126 kilometres) submarine cable to kick off in early 2023. The work installing South Fork Wind’s submarine cable involves six stages: seabed preparation, sea-to-shore interconnection preparation, nearshore cable laying, nearshore cable... Continue Reading →
(OE) Dutch offshore wind foundation maker Sif this week said it would build the world's largest monopile foundation manufacturing plant in Rotterdam, the Netherlands, with an estimated investment of around €328 million. The plant will be built at the 62 hectare Maasvlakte 2 site in Rotterdam, the Netherlands, as an extension of the existing facilities... Continue Reading →
(OET) While looking into the conundrum concerning the cashflow and capex of five supermajor oil companies – BP, Shell, Chevron, ExxonMobil and TotalEnergies – Westwood Global Energy, an energy market research and consultancy firm, has outlined that capital investment is lagging, even though the energy giants became efficient in generating cash from oil and gas production, enabling record... Continue Reading →
(OWB) EDF Renewables has acquired the Newcastle Offshore Wind (NOW) floating offshore wind project that is under development in New South Wales, Australia. Initial project developers Newcastle Offshore Wind Energy Pty Ltd (NOWE) have almost ten years of experience on the project, working closely with the EDF Renewables’ team in Australia for the last twelve... Continue Reading →
(OWB) IberBlue Wind, the joint venture created to promote floating offshore wind farms in the Iberian Peninsula, has revealed its first project for Portugal – a floating offshore wind farm off the coast of Figueira da Foz. Called Botafogo, in honour of the Portuguese galleon that was built in the 16th century and became known... Continue Reading →
(OWB) Spanish company Ferrovial and German offshore wind developer RWE have signed a Memorandum of Understanding (MoU) to explore the joint development, construction and operation of floating wind farms in Spain, where Ferrovial has so far submitted expressions of interest (EoIs) for four projects totaling almost 1.8 GW. According to a press release from RWE,... Continue Reading →
(Reuters) - Norway's Equinor (EQNR.OL) and German energy group EnBW (EBKG.DE) plan to jointly develop offshore wind farms in Germany, the two companies announced on Friday. Germany, which seeks to cut its reliance on fossil fuel, in November raised its national renewable energy target to 80% of power generation by 2030, and aims to accelerate onshore wind installations to over 12 gigawatt (GW) per year... Continue Reading →
(OM) Offshore exploration and production capex shook off the COVID-19 pandemic-induced declines of the past two years to rebound by 21% in 2022, reaching a total $165 billion spent on exploration, wells and facilities. This is slightly less than half the all-time high for offshore E&P investment of $332 billion, set in 2014 at a... Continue Reading →
(Reuters) BP is set to hire over 100 employees to its offshore wind division as the energy company rapidly expands its operations in the fast-growing sector around the world. The hiring process will begin in the coming weeks, as part of BP's ambition to double the size of the offshore team to 800 employees over... Continue Reading →
Brazil Energy Insight 