Brought to you by Quest Offshore & Southern Cone Consultants
(Reuters) - Top U.S. oil producer Exxon Mobil and Hess will meet face-to-face on Monday in a court hearing to determine the fate of Chevron's $53 billion deal to buy Hess and with it a prized stake in Guyana's prolific oilfields. The planned acquisition, announced in October 2023, is one of the oil industry's biggest deals in years. It is key... Continue Reading →
Image Credit: Morek Engineering A consortium based in South West England, led by Morek Engineering, has unveiled its innovative design concept for a new vessel class for the Floating Offshore Wind (FLOW) market, having completed the first feasibility stage. Consortium partners include naval architects Solis Marine Engineering, innovation specialists Tope Ocean, marine operations specialists First... Continue Reading →
(Reuters) National Grid booked a multi-million impairment charge on a paused U.S. wind project, but said on Thursday it was on track to invest 60 billion pounds ($79.74 billion) in energy networks through March 2029 and its results beat estimates. Its shares rose 2% to 1,038 pence by 0725 GMT, outperforming the wider market, which... Continue Reading →
(Reuters) - Britain has more than doubled funding available under a scheme seeking to spur investment in offshore wind projects to 544 million pounds ($721.78 million), after higher than expected demand, the government said on Friday. The country has put offshore wind at the heart of its 2030 clean energy plan and hopes to boost... Continue Reading →
(offshoreWIND.biz) Ørsted has discontinued the development of the UK’s Hornsea 4 offshore wind farm in its current form. The developer said the 2.4 GW project has faced rising supply chain costs, higher interest rates, and increased construction and delivery risks since the Contract for Difference (CfD) award in Allocation Round 6 (AR6) in September 2024.... Continue Reading →
(offshoreWIND.biz) According to a new report published by the World Forum Offshore Wind (WFO), 31 new offshore wind farms with a total capacity of 11 GW were put into operation in 2024, increasing the global offshore wind capacity to a total of 78.5 GW. China continues to lead the sector, according to the report, with... Continue Reading →
(Reuters) - Shell (SHEL.L), opens new tab exceeded analyst expectations on Friday, reporting a 28% drop in first-quarter net profit to $5.58 billion, while holding steady the pace of its share buyback programme despite falling oil prices and lower refining margins. That contrasts with rival BP (BP.L), opens new tab that cut its buybacks this year to try to strengthen its... Continue Reading →
(Reuters) - Orsted has sold a 24.5% stake in a UK offshore wind farm for around 456 million pounds ($606 million) to funds managed by Schroders Greencoat, it said on Thursday. The world's biggest offshore wind power developer will retain a 25.5% stake and remain the operator of the West of Duddon Sands project located off... Continue Reading →
(OE) Cerulean Winds, the lead developer of the Aspen, Beech and Cedar floating offshore wind farms, has completed Digital Aerial Surveys (DAS) for the projects planned to be built in the Central North Sea. The ecological data has been collected across an area of 2,784 km2, following 72 DAS for the its Aspen, Beech and... Continue Reading →
(OE) The U.K. government has allocated $400 million, via publicly-owned clean energy company Great British Energy, to strengthen the domestic offshore wind supply chain. The funding, announced by U.K.’s Prime Minister Keir Starmer, will boost domestic jobs, mobilize additional private investment, and secure manufacturing facilities for critical clean energy supply chains like floating offshore platforms.... Continue Reading →
Brazil Energy Insight 