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Sept. 9 (OE) BW Energy has completed a $365 million project finance facility to fund the refurbishment and redeployment of the Maromba floating production, storage and offloading vessel (FPSO) to Brazil’s Maromba field. The loan, backed by China Export & Credit Insurance Corporation (Sinosure), was significantly oversubscribed and will cover around 80% of total project... Continue Reading →
Kongsberg Maritime has developed a simplified mooring system for offshore floating structures. Building on its patent-pending integrated tensioning and remote pull-in technologies, the company is now focused on reducing cost, complexity, and environmental impact across the mooring system lifecycle. The latest developments center on minimizing mooring components and enabling future layouts that avoid active tensioning... Continue Reading →
Sept. 8 (Reuters) U.S. oilfield services provider Halliburton has been cutting staff in recent weeks, according to two sources familiar with the matter, marking the latest workforce reduction in the U.S. oil industry as it faces rising costs and a period of lower prices and volatility. Global benchmark Brent crude oil prices have dropped more... Continue Reading →
Sept. 5 (offshoreWIND.biz) In a matter of months, the US offshore wind industry went from a growing investor and employer to an industry that is now undergoing what Oceantic Network called a “targeted attack” after reports emerged that the US Department of the Interior (DOI) plans to revoke federal permits for two more projects. The Trump administration has reportedly also asked... Continue Reading →
Sept. 5 (Reuters) Danish wind farm developer Orsted cut its operating profit outlook for 2025 on Friday, shortly before shareholders were set to vote on a crucial capital raise as the company battles U.S. President Donald Trump's opposition to wind power. Once celebrated as a trailblazer in offshore wind, Orsted now finds itself in dire... Continue Reading →
Sept. 5 (offshoreWIND.biz) Ocean Winds has completed the installation of the third and final turbine at the 30 MW Éoliennes Flottantes du Golfe du Lion (EFGL) project in France. Developed by Ocean Winds and Banque des Territoires, EFGL is now the first floating offshore wind farm in the Occitanie region to complete its offshore turbine... Continue Reading →
Sept. 5 (offshoreWIND.biz) Japanese floating wind technology developer MODEC has received Approval in Principle (AiP) from the American Bureau of Shipping (ABS) for its iTLP2-FOWT concept, a new generation of the company’s tension leg platform (TLP) type floating offshore wind foundation. In 2020, MODEC obtained AiP for the first iteration of its TLP floating wind... Continue Reading →
Sept 4 (Reuters) - Danish offshore wind developer Orsted and the states of Rhode Island and Connecticut announced lawsuits against the Trump administration on Thursday, alleging its decision to block construction of the nearly finished Revolution Wind project is illegal. The separate complaints are the latest twist in a saga that started last month when U.S.... Continue Reading →
Sept 3 (Reuters) - President Donald Trump's administration plans to revoke federal approval of Avangrid's planned New England Wind project off the coast of Massachusetts, according to a court filing on Wednesday. The legal maneuver is the latest move by U.S. authorities to stymie development of offshore wind energy, which Trump has called ugly, expensive, and unreliable.... Continue Reading →
Sept. 4 (Reuters) Azule Energy, the joint venture between Italian oil and gas explorer Eni and BP, expects to invest another $5 billion in Angola over the next four to five years, Eni's Chief Operating Officer Guido Brusco told Reuters on Wednesday. The latest investment in both new and existing projects will match investments in... Continue Reading →
Brazil Energy Insight 