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Oct. 22 (Reuters) Italy's Saipem said on Wednesday its third-quarter adjusted core profit rose 29% year-on-year as the energy contractor pocketed new orders in Turkey and Guyana. Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) came in at 437 million euros ($510 million), marginally beating an analyst consensus of 433 million euros compiled by... Continue Reading →
Oct. 22 (PN) Petrobras wasted no time in starting drilling the pioneer well in block FZA-M-59, in the Foz do Amazonas Basin, on the Equatorial Margin. The drilling, expected to last approximately five months, began on Monday (20), the same day that Ibama (Brazilian Institute of Environmental Protection) issued the environmental license authorizing the operation.... Continue Reading →
Oct 22 (Reuters) - U.S. shipbuilders and port operators are getting hit in the fallout from President Donald Trump’s campaign to wipe out the offshore wind industry, suffering hundreds of millions of dollars in lost government support, vanishing vessel orders, and an uncertain future for the billions of dollars' worth of investments. The impact represents an unintended... Continue Reading →
Ocy. 22 (OE) Singapore’s Seatrium has received a notice of arbitration from Maersk Offshore Wind’s affiliate, regarding the dispute over the termination of a $475 million contract for a nearly completed wind turbine installation vessel (WTIV) originally intended for Equinor’s Empire Wind 1 project in the United States. The arbitration notice, received on October 21,... Continue Reading →
Oct 22 (Reuters) - GE Vernova's profit topped third-quarter expectations on Wednesday, driven by strong equipment orders and surging U.S. power demand from data centers supporting artificial intelligence workloads. Growing power demand from AI and other data-heavy industries is helping power equipment makers like GE Vernova tap long-term growth in U.S., strengthening its grid and turbine... Continue Reading →
Oct. 21 (offshoreWIND.biz) China’s Mingyang Smart Energy has unveiled plans to develop a massive 50 MW floating offshore wind turbine featuring a twin-head design similar to the company’s Ocean-X platform. The capacity of the world’s largest floating wind turbine would be nearly double that of the largest design currently available, according to Bloomberg. The wind turbine... Continue Reading →
Oct 21 (Reuters) - Halliburton beats Wall Street estimates for third-quarter profit estimates on Tuesday, supported by steady North American oilfield activity and equipment demand, and said its cost-cutting measures are expected to save $400 million annually. The company's shares rose 5.4% in premarket trading, also aided by a partnership with VoltaGrid to provide distributed power... Continue Reading →
Oct. 21 - SMST has secured a new contract from Norwegian shipbuilder VARD for the delivery of two sets of mission equipment to be installed on an additional two of North Star’s newbuild Service Operation Vessels (SOVs). These vessels are part of a long-term charter agreement between shipowner and operator North Star and energy company... Continue Reading →
Oct. 21 (OE) A consortium of offshore energy companies including TotalEnergies, Equinor, Aker BP, DeepOcean, Tenaris, and LS Cable & System has launched a joint industry project to commercialize a new subsea flowline heating technology designed to cut costs and carbon emissions related to deepwater oil and gas subsea tie-back projects. The system, named FlowHeat,... Continue Reading →
Oct. 17 (offshoreWIND.biz) Iberdrola has begun exploring the sale of 49 per cent of its East Anglia Two offshore wind farm project in the UK, according to a report by the Spanish media outlet Cinco Días citing unnamed sources. The renewable energy developer has already engaged Bank of America and BBVA as financial advisors to assist with... Continue Reading →
Brazil Energy Insight 