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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 →
Floating wind turbines atop the ocean could be the next big renewables market. GTM helps explain the weird and wonderful world of clean energy. Onshore wind turbines can be found everywhere from the tropics to the Arctic. Three decades ago, developers started putting them on fixed foundations out at sea, sparking the rise of the offshore... Continue Reading →
The Coronavirus and a surge of available connectivity means take-up of new E&P technologies is stronger than ever, writes Tore Morten Olsen, President, Maritime, Marlink. The oilfield of the future is a concept that was emerging before the Coronavirus overwhelmed the global economy and sent shockwaves through the energy markets. In fact, the disruption of... Continue Reading →
Cade approved, without restrictions, the acquisition by State Power Investment Corporation of China (SPIC) of a 33% stake in the GNA I and GNA II thermoelectric plants, with 3 GW of capacity and integrated into the LNG terminal in Porto do Açu (RJ) ). - Agreement closed through the subsidiary SPIC Brasil foresees entry to... Continue Reading →
FLASC, a start-up developing non-battery based energy storage solutions for the offshore sector has entered a collaboration with offshore installation giant Subsea 7. FLASC's patented Hydro-Pneumatic Energy Storage (HPES) concept combines pressurized seawater with compressed air to create an efficient, large-scale energy storage device that can be applied across a wide range of offshore applications.... Continue Reading →
Brazil Energy Insight 