Big oil to keep capital investment taps closed despite collecting $283 bln in 2022, says Westwood

(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 →

February 17, 2023 0

EDF Renewables Acquires Floating Wind Project Offshore Australia

(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 →

February 17, 2023 0

IberBlue Wind Unveils Floating Wind Project in Portugal

(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 →

February 17, 2023 0

RWE, Ferrovial Plan to Jointly Develop Floating Wind Projects in Spain

(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 →

February 17, 2023 0

Equinor and EnBW to cooperate on German offshore wind power

(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 →

February 17, 2023 0

Offshore oilfield, wind investments to continue growth in 2023 – Rystad

(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 →

February 16, 2023 0

BP Aims to Double Offshore Wind Team. Global Hiring Spree Set to Kick Off Soon

(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 →

February 16, 2023 0

Siemens Gamesa Charters NYK CTV for Japanese Offshore Wind Farm

(OED) Siemens Gamesa and the Japanese shipping and logistics company NYK have signed a time charter contract for a crew transfer vessel (CTV) that will be used at an offshore wind farm in Japan. The CTV will be owned by NYK and managed by Hokkaido-based Hokuyo Kaiun Co., Ltd., an NYK Group company. The vessel... Continue Reading →

February 16, 2023 0

Yunlin: A Taiwanese offshore wind restructuring

(TXF) Delays and project cost overruns from the pandemic have meant lenders and sponsors of the Yunlin offshore wind farm in Taiwan are scrambling to remedy the project’s financial woes. ECAs may push out the tenor envelope to ease the pressure - but concrete solutions are yet to be realized. The fledgling Taiwanese offshore wind... Continue Reading →

February 16, 2023 0

TotalEnergies, Corio Generation in JV to Develop Formosa 3 Offshore Wind Farms in Taiwan

(OE) TotalEnergies and Corio Generation have signed a joint venture partnership to develop the Formosa 3 offshore wind farms in Taiwan. Corio will remain the majority shareholder and lead developer with 50% plus 10 shares overall in project. The announcement comes after Taiwan’s Bureau of Energy confirmed in late December 2022 that Formosa 3’s Haiding... Continue Reading →

February 16, 2023 0

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Category: Renewables

Big oil to keep capital investment taps closed despite collecting $283 bln in 2022, says Westwood

EDF Renewables Acquires Floating Wind Project Offshore Australia

IberBlue Wind Unveils Floating Wind Project in Portugal

RWE, Ferrovial Plan to Jointly Develop Floating Wind Projects in Spain

Equinor and EnBW to cooperate on German offshore wind power

Offshore oilfield, wind investments to continue growth in 2023 – Rystad

BP Aims to Double Offshore Wind Team. Global Hiring Spree Set to Kick Off Soon

Siemens Gamesa Charters NYK CTV for Japanese Offshore Wind Farm

Yunlin: A Taiwanese offshore wind restructuring

TotalEnergies, Corio Generation in JV to Develop Formosa 3 Offshore Wind Farms in Taiwan

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