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Japanese FPSO specialist MODEC says it is working with partners to reduce the overall cost of floating offshore wind turbines. For some time, floating offshore wind has been something of a niche, but now full-scale demonstrators are in the works, and bigger players – including companies such as MODEC that have traditionally focused on oil... Continue Reading →
Installed offshore wind capacity will surpass onshore wind in the UK by 2026, and the UK will meet its goal to double its renewable energy capacity by 2030 four years early. This is according to the Norwegian energy intelligence company Rystad Energy, which says the targets will be met by a wave of mostly wind... Continue Reading →
Italian energy group Eni's balance sheet remains strong, it said on Wednesday after swinging to a third-quarter net loss as the coronavirus crisis took its toll. The company said it recorded an adjusted net loss of 0.15 billion euros ($177 million), in line with an analyst consensus provided by the company for a loss of... Continue Reading →
(Bloomberg) - Green power is set to draw around $11 trillion of investment in the coming decades as the cost of renewables plummets and more of the world’s energy comes from electricity. That’s the latest analysis from BloombergNEF in its annual New Energy Outlook report. It’s further evidence of how cheap renewable power sources will... Continue Reading →
Norwegian oilfield services provider Aker Solutions boosted its profit in the third quarter of 2020 despite lower revenues as oil and gas operators reduced their activity levels amid lower oil prices and Covid-19 pandemic. Aker Solutions on Wednesday posted a net income of NOK 119 million ($13 million) for the third quarter of 2020, an... Continue Reading →
Italian energy services group Saipem expects no major delay to projects and predicted brisker business in the last part of the year after swinging to a loss in the third quarter. "We are not out of the woods yet ... (but) the picture starts to get brighter," Chief Executive Stefano Cao said in a conference call. Saipem... Continue Reading →
Cosan presented a proposal to buy the 51% stake in Gaspetro, a Petrobras subsidiary, which operates in the natural gas distribution market. The offer will be made through Compass, a company created by Cosan to concentrate investments in the gas and power generation market. Gaspetro holds stakes in 19 gas distributors, which exclusively operate local... Continue Reading →
Industries are adapting to an increasingly digitalized landscape. The floating production, storage and offloading (FPSO) industry is no different. As concerted efforts are made to improve project economics Matt Tremblay, ABS Senior Vice President, Global Offshore, discusses how digitalization can increase safety, reduce costs, and build robust technical and operational capabilities. No one could have... Continue Reading →
Spanish green energy company Iberdrola reported 4.7% net profit growth for the first nine months on Wednesday and said it still expected that metric to rise at a mid to high-single digit rate this year. Boasting more than 32GW of renewable generation capacity in markets including Spain, the United States, Brazil and Britain, Iberdrola is capitalizing on... Continue Reading →
Petrobras' operational performance in 3Q20 was very good, considering the challenging scenario imposed by the COVID-19 pandemic. Our oil and gas production in Brazil grew by 9.0% in the first nine months of this year compared to last year. The production of the pre-salt fields increased by 32%, while in the other areas, post-salt, shallow... Continue Reading →
Brazil Energy Insight 