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Subsea 7 slipped into the red in the third quarter 2020 on decline in activity in the sector and costs generated by the Covid-19 pandemic. The engineering and construction specialist recognised quarterly net loss of $43 million, against profit of $42 million in Q3 2019. This brings losses since the start of the year to... Continue Reading →
The floating offshore wind industry, currently at its beginnings, is set for massive growth in the years to come, which has now led the classification society DNV GL to released the first integrated rule set for floating offshore wind structures. "The rules provide both new entrants and experienced stakeholders a set of well-tested rules and standardized... Continue Reading →
Joe Biden offered American voters a radically different vision of energy policy from President Donald Trump, focused on addressing the threat of climate change. He will enter the White House with a goal of setting the US on course for net zero greenhouse gas emissions by 2050 and will take the US back into the... Continue Reading →
The European Union is considering a plan to increase its offshore wind energy capacity five-fold this decade and 25-fold by 2050, as it seeks to become climate neutral by mid-century, according to a draft policy. The 27-nation EU, which is already home to 42% of the world's offshore wind capacity, says the technology now produces clean power at a... Continue Reading →
Spanish wind energy group Iberdrola's plans to spend around $88 billion on renewable power by 2025 eclipse Europe's top oil companies' combined planned investments in low-carbon over the same period. Royal Dutch Shell, BP, Total, Norway's Equinor, Spain's Repsol, and Italy's Eni aim to grow their low-carbon businesses after setting out plans to sharply reduce... Continue Reading →
(Reuters) - Malaysian state-owned energy giant Petroliam Nasional Berhad, or Petronas, said on Thursday it aims to become a net zero emitter of greenhouse gases by 2050 and also plans to increase its investments in renewable energy. Burning of oil and gas accounts for the vast majority of the world’s carbon emissions, and many investors... Continue Reading →
(Reuters) - Norwegian energy company Equinor EQNR.OL aims to become a net zero emitter of greenhouse gases by 2050, including emissions from the production and final consumption of oil and gas, its new chief executive said as he took office on Monday. Anders Opedal, the first engineer to lead state-controlled Equinor, plans to expand the acquisition... Continue Reading →
Total trimmed its 2020 investment target on Friday after a sharp drop in third-quarter net profit, though the French oil and gas producer maintained its dividend. The company cut its investment target to $13 billion from $14 billion and said it was keeping a lid on operating costs too, even as it strives to grow... Continue Reading →
Japanese FPSO specialist MODEC says it is working with partners to reduce the overall cost of floating offshore wind turbines. For some time, floating offshore wind has been something of a niche, but now full-scale demonstrators are in the works, and bigger players – including companies such as MODEC that have traditionally focused on oil... Continue Reading →
A unique double rotor floating wind turbine concept has earned a statement of feasibility from classification and certification body DNV GL. This statement, based on DNV GL’s technology qualification services, confirms that the nezzy² floater is designed to state-of-the-art safety, quality and performance standards, and allows its developer, aerodyn engineering, to secure investments and enter... Continue Reading →
Brazil Energy Insight 