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(epbr) TotalEnergies, a major western oil and gas producer, is developing 9 GW of offshore wind generating capacity off the coast of Brazil. There are three distribution parks in Ceará, Rio de Janeiro and Rio Grande do Sul. It joins the giants Equinor and Shell, also in the oil and gas segment, but with energy... Continue Reading →
Aker Offshore Wind and Aker Horizons have announced an all-stock merger as part of a wider reorganisation to get after energy transition opportunities. The former, a wind developer, will become a privately-held subsidiary of investment management firm Aker Horizons, with the ultimate goal of merging Aker Offshore Wind with another portfolio firm: Mainstream Renewable Power. AOW... Continue Reading →
After making an entry into a carbon capture and storage project earlier this year, giant offshore drilling contractor Transocean is now investing in the exploration of seabed minerals to support the renewable energy supply chain. Transocean informed on Tuesday that it has purchased a minority interest in Ocean Minerals, a company engaged in the exploration of... Continue Reading →
(Reuters) - Denmark's Orsted (ORSTED.CO) said on Monday it had agreed to sell half of the Hornsea 2 project in Britain, which will become the world's biggest offshore wind farm, to a French consortium for 3 billion pounds ($3.94 billion). The deal is consistent with the Danish energy giant's strategy of selling off large stakes in operational... Continue Reading →
(Reuters) - Saipem (SPMI.MI) will launch a 2 billion euro ($2.2 billion) capital increase this year and sell assets to help fund a turnaround plan to bring the troubled Italian energy services group back into the black. The company stunned investors in January when it downgraded earnings by a billion euros due to a significant deterioration of... Continue Reading →
Brazil will increase its oil production by 300,000 barrels a day by the end of the year to help stabilize global energy markets. The information was revealed today by the Minister of Mines and Energy, Bento Albuquerque, during the opening ceremony of the Ministerial Meeting of the International Energy Agency (IEA), in Paris. The additional... Continue Reading →
(OilPrice) It’s an open secret within energy circles that the eventual death of oil and thermal coal won’t come from environmentalists or even directly from renewable energy, but rather when big banks decide to stop financing it, rendering it ‘unbankable’. And the U.S. oil and gas sector came dangerously close to meeting that fate after Wall... Continue Reading →
BP, the British oil major with growing renewables ambitions, has partnered up with Marubeni, the major Japanese integrated trading and investment conglomerate, to explore "a selected offshore wind development opportunity in Japan." The companies have agreed to form a strategic partnership for offshore wind and potentially other decarbonization projects, including hydrogen. As part of... Continue Reading →
(OM) In its Annual Energy Outlook 2022 (AEO2022) Reference case, the US Energy Information Administration (EIA) projects that US energy consumption will grow through 2050, primarily driven by population and economic growth. In this case, the EIA says that renewable energy will be the fastest-growing energy source through 2050, but that petroleum will have the largest... Continue Reading →
Subsea 7 ended 2021 with excellent operational and financial performance. Revenue reached US$ 5 billion, representing growth of 45% compared to the previous year. The company's EBITDA reached US$ 521 million, an increase of 55% compared to 2020. Net income for the year was US$ 36 million. The global order backlog hit the $7.2 billion... Continue Reading →
Brazil Energy Insight 