Multiple Subsea 7 vessels at work on major offshore projects

Subsea 7 has issued an update on its offshore oil and gas/wind projects in its latest results statement. The Subsea and Conventional business unit has been progressing engineering and procurement for the Sangomar, Barossa and Bacalhau oil/gas projects, and has started engineering for TPAO’s deepwater Sakarya gas project offshore Turkey. Offshore Norway, three of the company’s reeling vessels, Seven Vega, Seven Oceans, and Seven Navica, laid... Continue Reading →

November 18, 2021 0

Active fleet steers Subsea 7 quarterly figures forward

Subsea 7 has reported a revenue of $1.45 billion for the third quarter of 2021, up 53% year-on-year, said to be driven by the very high utilization of the active fleet. Overall, utilization of Subsea 7’s active fleet of 28 vessels was 94% in the third quarter, compared to 84% in the same period the... Continue Reading →

November 18, 2021 0

MPS hires Principia for floating wind and wave engineering job

Marine Power Systems (MPS) has appointed Principia as lead contractor on detailed design and engineering of the floating platform that will support both wind and wave energy generating devices. Principia, part of the Artelia Group, has a dedicated offshore engineering team who has been working on offshore projects for over 40 years. The company brings... Continue Reading →

November 16, 2021 0

Pre-salt and the New Gas Law are growth opportunities for the Brazilian pipeline sector

The pipeline sector has great potential for expansion with the opening of the natural gas market and greater pre-salt production, in addition to being a transport alternative that allows the movement of large volumes of fuel with lower gas emissions. The president of the IBP, Eberaldo de Almeida Neto, highlighted that Petrobras' divestments in the... Continue Reading →

November 10, 2021 0

Baker Hughes signs deal with Shell for renewable energy credits

(Reuters) - Oil major Royal Dutch Shell's (RDSa.L) clean energy unit will provide renewable energy credits (REC) to oilfield firm Baker Hughes' (BKR.N) facilities in United States for a two-year period, the companies said on Wednesday. The move comes as climate activists, investors, banks and some governments mount pressure on oil and gas companies to announce net zero emission... Continue Reading →

November 10, 2021 0

GE energy spinoff aims to capture interest in renewables

(Reuters) - General Electric Co's (GE.N) plan to spin off energy units into a standalone company could attract investors looking for a well-known name in renewables if they can overlook legacy fossil-fuel operations, financial experts said. Earlier on Tuesday, the 129-year-old conglomerate outlined a plan to split into three publicly traded companies focused on energy, healthcare and... Continue Reading →

November 10, 2021 0

Business leaders optimistic COP26 visions will become reality

(Reuters) - A week into the United Nations' high-profile climate conference in Glasgow, executives and financial analysts said they are optimistic the talks will lead to changes needed for business to play a bigger role in tackling climate change. The business observers pointed to several steps by world leaders they said could boost sustainable business... Continue Reading →

November 8, 2021 0

Petrobras concludes the sale of power companies

Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on 07/29/2021, informs that today it concluded the sale of its stakes of 20% in Termelétrica Potiguar S.A. (TEP) and 40% in Companhia Energética Manauara S.A. (CEM) to Global Participações Energia S.A. (GPE), through its subsidiaries GFT Participações S.A. and GFM Participações S.A., respectively.... Continue Reading →

November 6, 2021 0

Industrial companies boost target for green hydrogen in climate fight

(Reuters) - A global coalition of industrial companies said on Thursday it has boosted a target for emissions-cutting hydrogen generated with renewable power such as wind and solar energy. Companies and governments have touted green hydrogen, derived from water using electrolyzers powered by renewable energy, as a way to cut carbon emissions. But it now... Continue Reading →

November 4, 2021 0

U.S. calls on nations to set bold targets for offshore wind

(Reuters) - A top U.S. official on Thursday challenged nations to join the United States in setting aggressive goals to expand electricity production from offshore wind. Interior Secretary Deb Haaland issued the call during an appearance at the United Nations climate change conference in Glasgow, Scotland. The administration of President Joe Biden has moved swiftly... Continue Reading →

November 4, 2021 0