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(U) Norwegian oil and gas major Equinor has defended the strategy driving its renewables business division and said performance will improve as assets become operational. Equinor this week joined its energy peers in reporting stellar profits for 2022 and returning more capital to shareholders, with a record $74.9 billion in adjusted operating profits booked last... Continue Reading →
(OE) DNV is launching a project to develop a decision tool and reference for stakeholders to use during the specification, design, manufacture, procurement, and approval of any equipment intended for the installation and decommissioning of bottom-fixed wind turbines. DNV forecasts that wind energy capacity will expand 15-fold, rising from 5% of global electricity production currently... Continue Reading →
Floating Energy Allyance (FEA) has selected Ocean Infinity to carry out an initial geophysical and geotechnical site investigation at its Buchan floating offshore wind project in Scotland. This represents an important step in the design and assessment process of the project, with the survey campaign taking place later this year, according to FEA. “We are... Continue Reading →
(Reuters Breakingviews) - Heated trade tensions could cool if the United States and the European Union make concessions on hydrogen. Washington’s Inflation Reduction Act includes subsidies that could slash the cost of the element’s sustainably produced “green” version by 2030. If the EU can negotiate better access to America’s production chain while attractively managing its future import... Continue Reading →
(OE) Renewable energy developer and fund manager Copenhagen Infrastructure Partners (CIP) intends to invest 8 billion euros ($8.6 billion) in a large offshore wind power park in Portugal that is preparing its first auction of such concessions. CIP said on Thursday in a statement it aimed to create an installed capacity of 2 gigawatts in... Continue Reading →
By David Boggs, Energy Maritime Associates (OM) The floating production construction market continued to grow in 2022, maintaining a rebound that began in 2021. As we enter a new year, the industry sentiment remains buoyant, with most respondents optimistic about the future. Recently, Energy Maritime Associates conducted its tenth annual Global Floating Production Industry Survey, which... Continue Reading →
U.S. maritime and logistics company Crowley said it has made a deal that could see it lease and develop an offshore wind terminal in Louisiana's Port Fourchon. The Right of First Refusal agreement was reached during Wednesday’s Greater Lafourche Port Commission (GLPC) Board Meeting in Cut Off, La. The more than 40-acre site, encompassing over... Continue Reading →
(OED) Flotation Energy and Vårgrønn have submitted a marine license application for the Green Volt floating offshore wind farm in the UK. According to the companies, the consent application could allow the project to start generating power in the mid-2020s. The two firms are applying for a lease for Green Volt under the Crown Estate... Continue Reading →
In 2022, we delivered an excellent operational performance, meeting all production targets for the year, with the following marks recorded: In 2022, we achieved an annual record in operated production, with an average of 3.64 MMboed. This result was mainly due to the start-up of FPSO Guanabara (Mero field) and P-71 (Itapu field), as well... Continue Reading →
(Reuters) - EverWind Fuels, a company founded by private equity veteran Trent Vichie, told Reuters it became the first green hydrogen producer in North America to secure the necessary permits for a commercial-scale facility on Tuesday. Provincial authorities in Canada granted environmental approval for EverWind to begin converting a former oil storage facility and marine... Continue Reading →
Brazil Energy Insight 