(Reuters) - The Biden administration will complete its ambitious offshore wind leasing schedule on time next year, the Interior Department told Reuters, despite delays to preparatory work for the auctions and sagging demand from the industry. President Joe Biden’s White House is depending on rapid adoption of offshore wind to help decarbonize the U.S. power... Continue Reading →
(OE) The U.S. Bureau of Ocean Energy Management (BOEM) said Monday it had completed its environmental review of the proposed 3GW Coastal Virginia Offshore Wind (CVOW) commercial project, which BOEM estimates could power about 1 million households, if approved. “The completion of our environmental review marks another step towards a clean energy future—one that... Continue Reading →
(Reuters) - Chevron Corp (CVX.N) plans to add 65,000 barrels per day (bpd) of Venezuelan oil output by the end of 2024 through its first major drilling campaign in the nation since Washington allowed it to restore production clipped by U.S. sanctions, three people familiar with the matter said. The effort could help Venezuela keep lifting crude... Continue Reading →
(OW) Nine US East Coast states and four federal agencies have signed a memorandum of understanding (MoU) to strengthen regional collaboration on offshore wind supply chain development. In addition, the US Department of Energy (DOE) revealed that multiple projects received funding totalling USD 72 million to address wind energy deployment challenges. According to a press... Continue Reading →
The US Bureau of Ocean Energy Management (BOEM) has completed the environmental review of the Empire Wind 1 & 2 offshore wind farms, proposed to be built offshore New York by a joint venture of BP and Equinor, and plans to issue a Record of Decision (ROD) on whether to approve the project this autumn.... Continue Reading →
(OE) ROV-specialist Forum Energy Technologies (FET) has launched a new tooling rental offering for remotely operated vehicles (ROVs) in response to the changing demands of the subsea sector. "With increasing ROV asset investment across hydrocarbon and offshore renewable energy, as well as defense sectors, FET’s new rental offering is designed to address the need for... Continue Reading →
(Reuters) The U.S. has no large-scale commercial wind farms in operation today, but President Joe Biden's administration aims to have 30 gigawatt (GW) installed by 2030 to help decarbonize the power sector and revitalize domestic manufacturing. The federal government has already approved several large-scale projects so far, with the first two - Vineyard Wind 1 and South Fork -... Continue Reading →
(OET) Baker Hughes’ weekly rig count report shows that the number of offshore rigs in the United States was on the rise last week while the total number of rigs operating in the U.S. also went up a notch to 632 from 631 units recorded during the week before. Following the fall in offshore rig activity for... Continue Reading →
Eversource Energy has completed its sale of an uncommitted lease area off the south coast of Massachusetts to its joint venture (JV) partner Ørsted for USD 625 million. The all-cash transaction, which was announced in May, closed today following approval from the Committee on Foreign Investment in the United States. The deal with Eversource provides... Continue Reading →
(Reuters) The value of Danish energy company Orsted, the world's largest offshore wind farm developer and a big player in the U.S., has plunged about 31% since it declared $2.3 billion in U.S. impairments in late August due to supply delays, high interest rates and a lack of new tax credits. The company is just one... Continue Reading →
