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(Reuters) - Chevron Corp beat Wall Street estimates for third-quarter profit on Friday, helped by higher oil and gas output, but its earnings fell from a year ago. The U.S. company, whose proposed $53-billion takeover of Hess has been delayed due to a challenge by rivals Exxon and CNOOC Ltd , reported an adjusted profit of $4.53 billion, compared to... Continue Reading →
(Reuters) - Exxon Mobil on Friday beat Wall Street's third quarter profit estimate, boosted by strong oil output in its first full quarter that includes volumes from U.S. shale producer Pioneer Natural Resources. Oil industry earnings have been squeezed this year by slowing demand and weak margins on gasoline and diesel. But Exxon's year-over-year profit fell 5%,... Continue Reading →
(OM) The Woods Hole Group says it has three DeepCLiDAR buoy systems ready for deployment to conduct wind resource assessments, metocean and marine environmental measurements. It also reports that additional buoys are under construction. With the Atlantic Wind Lease Sale 11 in the US Gulf of Maine Outer Continental Shelf scheduled for Oct. 29, 2024,... Continue Reading →
The US Bureau of Ocean Energy Management (BOEM) and the Department of Defense (DOD) have signed a memorandum of understanding (MoU) to support the coordinated development of offshore wind on the US Outer Continental Shelf (OCS). The agreement calls for DOD and BOEM to find mutual solutions that support renewable energy in a manner compatible... Continue Reading →
(Reuters) - President Joe Biden's administration on Tuesday will kick off a sale of offshore wind development rights for eight areas off the coasts of northern New England, a key test of industry appetite for new investment after a year of high-profile setbacks. The auction of nearly 1 million acres (404,680 hectares) in the Gulf... Continue Reading →
(oilnow.gy) TechnipFMC reported third-quarter 2024 revenues of US$2,348.4 million, with a net income of US$274.6 million, or US$0.63 per diluted share. Adjusted net income, which accounts for after-tax charges, was US$280.5 million, or US$0.64 per share. Key factors impacting adjusted net income included a US$60.6 million non-cash tax benefit and an $8.4 million after-tax foreign... Continue Reading →
By Alex Kimani (oilprice.com) Over the past two decades, the shale revolution largely pushed aside interest in the exploration and development of offshore hydrocarbons. The combination of hydraulic fracturing and horizontal drilling enabled the United States to significantly increase its production of oil and natural gas from tight oil formations, with the Shale Patch accounting for 36% of... 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) -Baker Hughes beat Wall Street estimates for third-quarter profit on Tuesday, helped by sustained demand for its drilling equipment and oilfield technology in international markets. The robust activity in several international markets have helped oilfield services companies offset some of the declines in North America. "We remain confident in achieving our full-year EBITDA guidance... Continue Reading →
(OE) Community Offshore Wind, a joint venture of RWE and National Grid Ventures (NGV), has submitted its full proposal for a 2.8 GW offshore wind project in New York. If selected, the proposed project could deliver up to 2.8 GW of new clean energy capacity, built in two phases in the developer’s federal offshore wind... Continue Reading →
Brazil Energy Insight 