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Colombia’s President Iván Duque and Minister of Mining and Energy, Diego Mesa, launched the country’s Offshore Wind Energy Roadmap on 3 May at an event in the city of Barranquilla, whose waters will become the home of the first offshore wind farm in Colombia. The objective of the roadmap is to build a transparent and... Continue Reading →
(Reuters) - Wind turbine makers racked up hefty losses last quarter, swelled by rocketing costs and cut-throat competition despite being more in demand than ever. The industry started seeing a steep decline in prices and increased competition back in 2017 as some governments moved away from generous, fixed, subsidised tariffs for power toward an auction-based... Continue Reading →
Oil and gas major BP intends to invest up to £18 billion (about $22.5 billion) in the UK’s energy system by the end of 2030 in a push to help the country deliver on its bold ambitions to boost energy security and reach net zero. One of the largest oil and gas producers in the... Continue Reading →
(Reuters) - British oil major BP (BP.L) will continue betting on "lower carbon, more economical" offshore oil and gas exploration and production, a company executive said on Monday, warning that lack of investment could lead to global oil scarcity. Offshore operations allow better control of emissions, especially in the U.S. Gulf of Mexico, said Starlee Sykes, BP's... Continue Reading →
(Reuters) British utility SSE and green power firm Brookfield Renewable will work together in preparing bids for the Dutch 1.4 gigawatt (GW) Hollandse Kust (west) offshore wind farm zone tenders, they said on Wednesday. The 50/50 strategic partnership seeks to combine SSE Renewables' expertise in developing, constructing and operating offshore wind farms with Brookfield's experience... Continue Reading →
TechnipFMC has reported $1.9 billion of inbound subsea orders in the first quarter of 2022, an increase of 83% when compared to the fourth quarter of 2021, resulting in a book-to-bill of 1.5. For the Subsea segment, TechnipFMC reported revenue of $1,289.1 million, a 4.3% increase from the fourth quarter of 2021, primarily said to... Continue Reading →
Oil demand could peak as soon as 2025, as the energy transition continues to gain steam and as electric vehicle adoption increases, McKinsey & Company said in a new report. Christer Tryggestad, a Senior Partner at McKinsey, says: “In the past few years, we have certainly seen the energy transition pick up pace. Every year... Continue Reading →
Majority of offshore wind projects now undergoing licensing process for environmental investigations in Brazil are listing 15 MW as the wind turbine capacity of choice. While there are a few variations in references to the 15 MW turbine technology planned to be used, most of these are listed as Vestas’s model with a 236-metre rotor diameter, for... Continue Reading →
Fugro has reported a revenue increase of 23.3% in the first quarter of 2022, said to be supported by all regions and business lines and driven by high client demand in the energy market, both renewables and oil & gas, and the infrastructure market. The total revenue in Q1 2022 was €365.4 million, compared to... Continue Reading →
Vestas has signed a memorandum of understanding (MoU) with the government of the Brazilian state of Rio Grande do Norte to support the development of wind projects off the state’s coast. The objective of the MoU, signed in March, is to share technical knowledge so that governmental institutions can improve their studies of feasibility of... Continue Reading →
Brazil Energy Insight 