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Oil and gas services firm SBM Offshore raised its full-year core profit guidance on Thursday on the back of a 23% increase in nine-month revenue and said it had started work on a pilot floating offshore wind project in France. The Dutch company, which supplies floating oil and gas production vessels, now expects 2020 earnings before interest,... Continue Reading →
Brazilian offshore support vessel operator CBO has tasked maritime equipment manufacturer Wärtsilä, based in Finland, to convert one of its offshore vessels to operate with hybrid propulsion. The vessel selected for the upgrade is the 2012-built platform supply vessel CBO Flamengo. According to Wärtsilä, the CBO Flamengo will be the first vessel in Brazil and... Continue Reading →
(Reuters) - Larry Fink, chief executive of the world's largest asset manager BlackRock BLK.N, said on Tuesday he backed the UK's recent move to make the reporting of corporate risk related to climate change mandatory, and urged the United States to follow suit. “We welcome the UK Chancellor’s announcement yesterday (of) mandatory TCFD reporting,” Fink told... 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 →
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 →
In what has been described as a "world's first" a spider-like robot recently achieved its first blade walk an offshore wind turbine in the UK, opening door to significant offshore inspection cost cuts. Developed by BladeBUG, with support of the Offshore Renewable Energy (ORE) Catapult, the six-legged inspect-and-repair robot last month repeatedly scaled blades at... 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 →
Total is seeking to sell stakes in a number of Angolan oilfields, in what is seen as an early sign of an expected wave of divestments by big energy companies from the West African country, industry sources said. Total could raise around $300 million from the sale of its 20% stake in Angola's offshore Block... Continue Reading →
Baker Hughes Co said on Tuesday it would buy Compact Carbon Capture AS in a bid to expand its footprint beyond oil and gas oilfield services as it prepares for a transition to a low-carbon future. Facing pressure from shareholders worried about the climate impact of fossil fuel and a plunge in oil and gas... Continue Reading →
Brazil Energy Insight 