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(Reuters) Halliburton Co reported a higher first-quarter profit on Tuesday, wrapping up upbeat earnings from the world's top oilfield services providers as higher oil prices encouraged drilling activity and boosted demand for services and equipment. Global oil futures are currently trading around $82 a barrel, down about 20% from a year ago but remain well... Continue Reading →
(Reuters) After a bumper year for floating offshore wind farm tenders, the nascent industry is poised for explosive growth in the coming decade as countries strive to cut their carbon emissions. But it's unlikely to be all plain sailing. Rising costs and supply chain bottlenecks have hit some projects and without investment in infrastructure to... Continue Reading →
(Reuters) - Wind power may generate roughly 40% of North America's electricity by 2050, and solar power another 32%, if current and projected capacity development plans proceed as expected, data from risk assessment firm DNV shows. With hydropower expected to generate an additional 11.5% and nuclear a further 7.3%, over 90% of the region's electricity... Continue Reading →
Transocean, best known for its deepwater drilling services in the oil and gas space, is looking to expand into the offshore wind sector and is planning to convert some of its offshore drilling vessels into wind foundation installation vessels. The company said Wednesday it had executed a non-binding memorandum of understanding with offshore wind installation... Continue Reading →
(Bloomberg) – The Pentagon is sounding alarms over the Biden administration's plans to advance offshore wind projects along the central Atlantic U.S. coast, warning that almost all of the new terrain eyed for development conflicts with military operations. Maps shared with industry stakeholders and seen by Bloomberg News show vast red areas that the Navy... Continue Reading →
(Reuters) - Oilfield firm Baker Hughes Co (BKR.O) beat first-quarter profit estimates on Wednesday, as stronger oil prices have supported demand for its equipment and services. Global oil futures are currently trading around $83.12 a barrel, down about 22% from a year ago but still well above a level where firms can drill profitably. Markets have been... Continue Reading →
Oslo-headquartered ocean services provider DeepOcean has reported a revenue increase of 13.4 per cent in 2022 said to be mainly driven by inspection, maintenance and repair (IMR) work in the oil and gas sector. For 2022, DeepOcean reported revenue of $566.1 million, up 13.4 per cent from $499.4 million in the prior year, and an operating... Continue Reading →
Tom Ewing, Contributor (OE) Offshore wind energy planners are giving close review to fixed-tower systems in order to extend lessons learned to floating wind towers, under development now. In the U.S., floating towers have been most closely associated with plans for new wind energy areas (WEA) in the Pacific, off of California and maybe Oregon and... Continue Reading →
Corio Generation, part of Macquarie’s Green Investment Group, said Thursday it was joining the Global Offshore Wind Alliance, an international coalition founded by the Government of Denmark, the International Renewable Energy Agency (IRENA) and the Global Wind Energy Council (GWEC) to help countries transform their economies using offshore wind power. Corio has pledged to work... Continue Reading →
As the global energy crisis demonstrated last year that the energy security of certain countries hangs by a thread, the American Petroleum Institute (API), a trade association representing the oil and gas industry, has called on the Biden administration to address – what it sees as – the broken permitting process, which is halting U.S. energy... Continue Reading →
Brazil Energy Insight 