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(Reuters) - Shell reported on Thursday third-quarter profits of $6 billion that exceeded forecasts by 12% as higher liquefied natural gas (LNG) sales offset a sharp drop in oil refining and trading results. The results, together with a drop in debt and strong cash flow, could lift investor confidence in CEO Wael Sawan's efforts to boost... Continue Reading →
Subsea 7 S.A. announced the award to Seaway7, part of the Subsea7 Group, of a substantial1 contract by Ørsted for the transport and installation of the inter-array cables of the Hornsea 3 offshore wind project located in the UK sector of the North Sea. Seaway7’s scope of work covers the transportation and installation (T&I) of... Continue Reading →
Renewable energy innovator Inyanga Marine Energy Group has announced it is launching a crowdfunding round in partnership with Crowdcube. This round presents an opportunity to invest in Inyanga’s patented tidal energy technology, HydroWing. Tidal energy is a 100% predictable renewable energy source and one of the most reliable sources of renewable energy available. HydroWing aims... Continue Reading →
(Interesting Engineering) U.K.-based Beam recently launched AI-driven underwater vehicles capable of carrying out autonomous inspections of wind farms, as Interesting Engineering details. Offshore wind is a cutting-edge green energy source that is rapidly growing globally. The labor-intensive, costly, and lengthy inspections are ripe for innovation. That's where Beam, a deep tech company, is stepping in. Beam CEO Brian... Continue Reading →
(Reuters) - The chief of Europe's largest utility Iberdrola (IBE.MC), opens new tab gave a bullish outlook for the coming years on Wednesday, pledging to build on a strategy to focus investment on expanding and upgrading grids in Britain, the United States and elsewhere. While pouring billions into power grids and taking a more selective approach to... Continue Reading →
(Reuters) - BP is considering selling a minority stake in its offshore wind business, according to four sources with knowledge of the matter, the latest effort by CEO Murray Auchincloss to scale back the energy company's focus on renewables. The company has faced pressure from shareholders over its energy transition strategy, first launched in 2020, as renewables profit... Continue Reading →
(offshoreWIND.biz) The global pipeline of floating offshore wind projects has expanded from 244 GW to 266 GW in the last twelve months, reflecting a nine per cent increase, according to a report published by RenewableUK. The number of global projects has increased from 285 to 316, with the pipeline including projects at various stages: fully... Continue Reading →
(OE) Salamander Offshore Wind Farm, a project being developed by a joint venture between Ørsted, Simply Blue Group and Subsea7, has submitted its consent applications for the onshore aspects of its proposed 100 MW floating wind development. The applications outline Salamander’s plans for the onshore components of its proposed development, according to the joint venture... Continue Reading →
(Reuters) Australia's Macquarie has engaged advisors for a potential sale of its subsidiary Corio Generation, one of the world's largest offshore-wind developers, two sources with knowledge of the matter said on Tuesday. Corio oversees a 30-gigawatt pipeline of offshore wind projects spanning Europe, Asia-Pacific, and the Americas. It includes 5 GW of projects across the... Continue Reading →
(OE) Motive Offshore Group, a rental, inspection and engineering equipment provider for the energy sector, has acquired Aquatic, a company specializing in laying and retrieving flexible products from the seabed, previously owned by marine energy and infrastructure services company Acteon. The deal will increase Motive’s rental fleet and provide a full back-deck offering globally. Motive... Continue Reading →
Brazil Energy Insight 