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Following record losses in the second quarter of 2020 and the first dividend cut in a decade, BP revealed parts of its new strategy that would reshape the company from an international oil company to an integrated energy company. BP said on Tuesday that it aims to increase its annual low carbon investment ten-fold to... Continue Reading →
The United States has an opportunity to accelerate offshore wind energy growth, and benefit from 28 new gigawatts of clean energy and $1.7 billion in U.S. Treasury revenue by 2022, a new study released today from research group Wood Mackenzie finds. Findings from this study confirm additional lease areas are needed to meet demand, reduce... Continue Reading →
Even as the pandemic continues to drive down consumer spending and depress oil prices, investors are spending big on clean-tech companies. Shares are now near record highs, the latest sign that wind and solar are no longer fringe bets. Electric-carmaker Tesla Inc. has grabbed much of the attention with a 255% jump this year. But... Continue Reading →
Pioneer project is another step of the company towards innovation Tuglab, Wilson Sons’ innovation laboratory, in partnership with the IT Management of the company’s Towage division, developed the Closed Circuit TV (CCTV) and Network Cabling project for the fleet. Local internet network and 480 cameras are planned to be installed. The equipment has already been installed... Continue Reading →
Jul 30, 2020 WEG obtained an important contract with Petrobras to supply eight turbogenerators for the FPSOs Buzios V and Mero 2. With the new arrangement, WEG expects to generate revenue of approximately R $ 160 million. Of the total equipment, four of them will be 36 MW 3600 rpm and four of 33 MW... Continue Reading →
Tubular solutions supplier Vallourec has signed contract extensions with Petrobras for the supply of its products and services. Since 2019, Vallourec has been supplying Petrobras with OCTG products, including seamless steel tubes, connections, and accessories, as well as associated services such as offshore inspection, repair, and supervision. The contracts have now been extended until 2023.... Continue Reading →
July 29, 2020 Petróleo Brasileiro S.A. – Petrobras informs that it is already producing at all of its refineries and selling to distributors gasoline with RON 93 octane rating, which will only be mandatory in Brazil in 2022, according to the new regulations of the National Agency of Petroleum, Natural Gas and Biofuels (ANP) -... Continue Reading →
Sypris Technologies, Inc., a subsidiary of Sypris Solutions, Inc. (Nasdaq/GM: SYPR), announced today that it has recently received significant orders for its Tube Turns® branded Ultra-High Pressure and Double Bolt closure product lines. Production will begin immediately and is expected to be completed prior to year end. Terms of the purchases were not disclosed. The... Continue Reading →
Danish offshore drilling contractor Maersk Drilling has entered an agreement to invest $1 million in the California-based company Clean Energy Systems to help develop a new technology called Carbon-Negative Energy. The concept builds on proven technology originally developed for the aerospace industry, which is now being deployed in a process that is expected to result... Continue Reading →
The oilfield has historically been a place where brawny men, and mighty machines came together to bore holes deeply into the earth to wrest stores of oil and gas from the depths. This model, which developed over many decades of exploration and production activity carried huge costs, particularly as the focus of this activity moved... Continue Reading →
Brazil Energy Insight 