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(Reuters) - Can oil bankers learn renewable tricks? They may need to in this climate, judging by the experience of Douglas MacKenzie, a Citigroup banker who has spent decades advising global energy giants on fossil fuel deals since joining Goldman Sachs as an associate in 1985. "I cover Big Oil. I'm a supermajor guy," the... Continue Reading →
Engineering and technology group, Technip Energies has acquired a 16.3% stake in X1 Wind, a startup that has designed "an innovative and disruptive" offshore wind turbine floater. Technip Energies is the lead investor in this funding round, which also counts with the participation of the European Commission-owned European Innovation Council (EIC) Fund, advised by the... Continue Reading →
BP's profits hit their highest in eight years in 2021, lifted by soaring gas and oil prices, as the company boosted share repurchases and said it was accelerating plans to cut emissions with increased spending on low carbon energy. BP's rebound to an annual profit of $12.85 billion after a large loss in 2020, is... Continue Reading →
(OE) Off the Massachusetts and New York coasts, developers are preparing to build the United States’ first federally approved utility-scale offshore wind farms – 74 turbines in all that could power 470,000 homes. More than a dozen other offshore wind projects are awaiting approval along the Eastern Seaboard. By 2030, the Biden administration’s goal is to have 30 gigawatts of offshore... Continue Reading →
Offshore wind turbine makers have been working to build increasingly bigger turbines, and the likes of GE, Siemens Gamesa, Vestas, and MingYang have in the past two years or so unveiled designs for giant 14-16MW rated units.It has been said that larger turbines, while more expensive per unit, reduce the overall cost of large-scale offshore wind... Continue Reading →
Italy's Saipem risks becoming a casualty of the transition to cleaner energy after a shock profit warning left leading shareholders scrambling to shore up the finances of the energy services company. The Saipem board met on Tuesday to discuss the situation, a source close to the matter told Reuters, after shares in the company at one... Continue Reading →
(Reuters) - Italian energy services group Saipem is talking to investors about a possible funding package, the group said on Monday after warning it will take a heavy loss for 2021, triggering a halt in its shares to prevent a stinging sell-off. Saipem has struggled to regain traction after global lockdowns caused by COVID-19 throttled... Continue Reading →
Decree clarifies the requirements for the assignment of use of public assets in offshore areas for the purpose of generating electricity The President of the Republic issued decree nº 10.946/2022, which provides for the assignment of use of physical spaces and the use of natural resources for the generation of electricity from offshore ventures. The... Continue Reading →
(Reuters) - The transition to clean energy required to prevent temperatures from rising swiftly could shave 2% off global GDP by 2050 but is likely recoverable before the end of the century, a report by natural resources consultancy Wood Mackenzie said on Thursday. While investments in technologies like solar and wind farms, advanced batteries will... Continue Reading →
(WNN) Brazil has begun a process to identify sites for the new nuclear power units it plans to have in operation by 2050. The Ministry of Mines and Energy has secured cooperation of specialists at Cepel for a siting study. "An increase in the participation of nuclear energy in the Brazilian energy mix is important... Continue Reading →
Brazil Energy Insight 