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(Reuters) - Swedish power utility Vattenfall said on Tuesday it has made a final investment decision for two wind farm projects in the German North Sea, Nordlicht 1 and 2, the first of which is expected to become Germany's biggest offshore wind farm. Vattenfall said in a statement it had agreed to buy back the... Continue Reading →
(offshoreWIND.biz) It’s no secret that in 2025, a few stubborn obstacles have slowed the anticipated pace of floating offshore wind development. Some are economic, while others are bureaucratic. But the hurdles only serve to motivate Norwegian wind energy companies, which are tackling industry challenges one innovation at a time with full confidence in floating wind’s... Continue Reading →
(OE) MODEC has signed an agreement with Shell for the operations and maintenance of the floating production, storage and offloading (FPSO) vessel, to be deployed at Gato do Mato deepwater field off Brazil, for a period of 20 years. The agreement follows the execution of the Front-End Engineering Design (FEED) contract, which was awarded to... Continue Reading →
Petróleo Brasileiro S.A. - Petrobras informs that it has identified the presence of hydrocarbons in the Campos Basin pre-salt, in an exploratory well of Norte de Brava block. Well 1-BRSA-1394-RJS is located 105 km from the state of Rio de Janeiro, at a water depth of 575 meters. The drilling of the well has been... Continue Reading →
(Reuters) - Power firm Engie Brasil said on Friday it had signed a contract to buy two hydro power plants in northern Brazil for about 3 billion reais ($523.2 million), according to a securities filing. Engie Brasil is buying the entities which hold the concessions to run the Cachoeira Caldeirao plant, located in Amapa state, and... Continue Reading →
(Reuters) - China Petroleum & Chemical Corp, known as Sinopec, reported a 16.8% decline in 2024 net profit, citing lower crude oil prices and the accelerated development of the new energy vehicle (NEV) industry. Sinopec's Hong Kong-listed shares were down 3.3% around 10:40 a.m. local time on Monday after falling as far as 4.5% earlier... Continue Reading →
(OE) A final investment decision (FID) for the Sea Lion development offshore the Falkland Islands could be reached in mid-2025, according to Rockhopper, which is partner in the project with the operator Navitas Petroleum. Navitas continues to estimate Capex to first oil on phase 1 of c$1.4 billion and in this regard has entered into... Continue Reading →
(Reuters) - Argentine energy company CGC announced on Friday that it will partner with state oil company YPF in a project located in the South American country's lucrative Vaca Muerta basin as a minority partner. In a statement, CGC said it will provide an unspecified amount of capital for the tie-up in Argentina's massive shale... Continue Reading →
(OE) Shell Brasil Petróleo, a subsidiary of Shell, has taken the Final Investment Decision (FID) for Gato do Mato, a deepwater oil and gas project in the pre-salt area of the Santos Basin, offshore Brazil. The Gato do Mato Consortium includes Shell (operator with a 50% stake), Ecopetrol (30%), TotalEnergies (20%) and Pré-Sal Petróleo... Continue Reading →
Brazil Energy Insight 