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(Reuters) - A U.S. court upheld a tribunal's $8.75 billion award to U.S. oil producer ConocoPhillips over the expropriation of its Venezuelan oil assets, granting a default judgment in the case on Friday. The decision gives the U.S. company new authority to collect on a 2019 award by a World Bank tribunal. The award includes... Continue Reading →
(OM) The US Department of the Interior reported next steps to bring the opportunity of offshore wind energy to the Gulf of Maine. The Bureau of Ocean Energy Management (BOEM) has made available a Request for Interest (RFI) and Request for Competitive Interest (RFCI) in the Federal Register for public comment. "The IRA [Inflation Reduction Act] will create good-paying jobs... Continue Reading →
With passage of the Inflation Reduction Act, which contains US$370 billion for climate and energy programs, policy experts are forecasting a big expansion in clean electricity generation. One source that’s poised for growth is offshore wind power. Today the U.S. has just two operating offshore wind farms, off of Rhode Island and North Carolina, with a combined generating... Continue Reading →
Sweden-based Skanska, one of the country's largest construction firms, has signed a contract with the Virginia Port Authority to rebuild 72 acres of the Portsmouth Marine Terminal in Portsmouth, Virginia, USA. The project will redevelop approximately 72 acres of the 287-acre Portsmouth Marine Terminal for use as an offshore wind staging port which will improve... Continue Reading →
(Reuters) - Oil output in the Permian in Texas and New Mexico, the biggest U.S. shale oil basin, is due to rise 79,000 barrels per day (bpd) to a record 5.408 million bpd in September, the U.S. Energy Information Administration (EIA) said in its productivity report on Monday. Total output in the major U.S. shale... Continue Reading →
The U.S. recently came up with the Inflation Reduction Act, which is expected to boost domestic energy security by opening the door to more federal onshore and offshore lease sales while also promoting low-carbon and renewable energy developments. However, Norway’s energy intelligence group Rystad Energy believes that there is no respite on the horizon for energy... Continue Reading →
(OE) Measurements of methane emissions from shallow water oil and gas platforms in the U.S. Gulf of Mexico found they were substantially higher than those from drilling on land, according to research published on Thursday. The study, by researchers at non-profit Carbon Mapper, the University of Arizona, NASA's Jet Propulsion Laboratory, the University of Michigan and Arizona State... Continue Reading →
(OEM) The American Petroleum Institute (API), a trade association representing the oil and gas industry, believes ramping up domestic production and turning to U.S.-made energy is the answer to the global supply and demand imbalance hitting Americans at the pump and impacting the broader economy. The American Petroleum Institute claims that energy demand is outstripping supply... Continue Reading →
(Reuters) - Petroleos Mexicanos (Pemex) has made progress in talks with global energy trader Vitol about resuming trading ties that broke down last year during a bribery scandal, and the companies must iron out some issues such as compensation for damages Mexico's state oil company suffered, two sources at Pemex said. The sources at Pemex... Continue Reading →
(OE) Engineering consultancy Wood Thilsted has been appointed as a detailed design engineer for US Wind’s MarWin project, the company’s first offshore wind project to be constructed off the coast of Maryland, U.S.. Apart from being responsible for the delivery of the detailed foundation design for MarWin, Wood Thilsted will also be supporting the development... Continue Reading →
Brazil Energy Insight 