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The global financial investment for offshore wind capacity set records in 2020, with total capacity investment as well as cash amount earmarked surpassing that of 2018, the previous record year, according to The Renewables Consulting Group (RCG). RCG said that the total capacity financed for offshore wind in 2020 had hit 8,370 megawatts (MW) across... Continue Reading →
(Reuters) - Energy giant Royal Dutch Shell vowed to eliminate net carbon emissions by 2050, raising its ambition from previous targets, as oil output was set to decline from its 2019 peak. The Anglo-Dutch company is in the midst of its largest overhaul yet as it prepares to expand its renewables and low-carbon business in... Continue Reading →
Petróleo Brasileiro S.A. –Petrobras following up on the release disclosed on December 23, 2020, informs that its wholly-owned subsidiary Petrobras Biocombustível S.A. (PBio) completed today the sale of all its shares (50% of the company's capital) issued by BSBios Indústria e Comércio de Biodiesel Sul Brasil S/A (BSBios) to the company RP Participações em Biocombustíveis... Continue Reading →
(Reuters) - France’s Total posted better than expected earnings in the fourth quarter as oil prices stabilised, and said it would change its name as part of a push to diversify and grow renewable power and electricity production. The French oil and gas major, which like rivals suffered in 2020 as fuel consumption tumbled during... Continue Reading →
For the offshore wind industry, 2020 was all about ambitions. Policymakers raised the bar for growth, focusing on job creation amid the offshore wind cost-out and the coronavirus pandemic. Renewables targets were raised and decarbonization plans that span the length of the supply chain were brought forward. This momentum is likely to continue in 2021,... Continue Reading →
Royal Dutch Shell's profit last year dropped to its lowest in at least two decades as the coronavirus pandemic hit energy demand worldwide though the company's retail network and trading business helped cushion the blow. The Anglo-Dutch oil major's annual profit slumped 71% to $4.8 billion as its oil and gas production and profits from... Continue Reading →
Italian engineering and construction services firm Saipem has won a contract worth 460 million euros (around $556 million) to build and install foundations at a wind farm offshore France. The contract, awarded by Eoliennes Offshore du Calvados SAS (EODC) for the Courseulles-sur-Mer Offshore Wind Farm in Normandy, France, is subject to EODC reaching a final investment decision... Continue Reading →
Even as the U.S. economy makes the switch over coming decades to renewable energy like wind and solar, the nation needs to ensure its fossil fuel industry stays healthy, a top U.S. central banker said on Friday. "The challenge for the country will be to transition, but it's going to also be critical for the... Continue Reading →
Equinor and bp have completed their previously announced transaction including bp’s $1.1 billion purchase from Equinor of a 50% interest in two major lease areas off the US East Coast. The transaction is the first step in a strategic partnership between the two energy companies to team up for offshore wind projects in the U.S.... Continue Reading →
The president of Petrobras, Roberto Castello Branco, said this Thursday that the state company should increase its exploratory activity over the next few years. According to the executive, the company will drill up to 58 wells by 2025. The number represents an increase of 50% in comparison with the five-year period from 2016 to 2020,... Continue Reading →
