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(oilprice.com) At the recent gathering of BRICS nations in Brazil, the members’ joint statement contained an interesting assertion. BRICS leaders said that, while recognizing the need for an energy transition, they “acknowledge fossil fuels will still play an important role in the world’s energy mix, particularly for emerging markets and developing economies.” Luckily for BRICS members, they... Continue Reading →
(Reuters) - U.S. President Donald Trump launched his global tariff assault into overdrive on Wednesday, announcing a new 50% tariff on U.S. copper imports and a 50% duty on goods from Brazil, both to start on August 1. "I am announcing a 50% TARIFF on Copper, effective August 1, 2025, after receiving a robust NATIONAL SECURITY ASSESSMENT,"... Continue Reading →
(OE) The U.K. government has unlocked $10.1 billion investment into key clean energy projects, like offshore wind and hydrogen, with the signing of a new deal with the Sumitomo Corporation in Tokyo. Sumitomo Corporation aims to facilitate the investment into key U.K. infrastructure and clean energy projects by 2035, backing the government’s aim to significantly... Continue Reading →
ABS has issued an Approval in Principle (AIP) to Hanwha Ocean for its semi-submersible floating offshore wind turbine design, named WindHive 15-H3, which can support 15 MW wind turbines. The AiP from ABS follows the Approval in Principle that the South Korean company secured for its floater from DNV at the beginning of this year. The... Continue Reading →
(Reuters) U.S. oil producer Hess Corp has decided to withdraw from Suriname's offshore Block 59, the South American nation's state oil firm Staatsolie said on Tuesday, adding the block would now return to Staatsolie. "Hess has fulfilled its minimum work obligations and decided not to proceed to the next phase of the exploration period ending... Continue Reading →
(Reuters) - Argentina's VMOS signed a $2 billion loan to finance construction of the Vaca Muerta South pipeline project, the company said in a statement on Tuesday. Vaca Muerta, a vast unconventional oil reserve, is pivotal for Argentina to cut costly imports and bolster its economy. VMOS S.A., a partnership formed by state-run oil company... Continue Reading →
Forum Energy Technologies (FET) has appointed OGEQUIP to represent its subsea operations in Brazil, further strengthening FET’s position in South America. Under the partnership, OGEQUIP will deliver FET’s Subsea Technologies product line business development, technical and administrative support. Kevin Taylor, Vice President – Operations, Subsea Technologies said: “As we continue our ambitious strategy to grow... Continue Reading →
(offshore-energy.biz) Norwegian state-owned energy giant Equinor has hired Subsea Integration Alliance (SIA), a strategic alliance combining the strengths of SLB OneSubsea and Subsea7, to handle an assignment related to the next stage of its operated oil field off the coast of Brazil. Subsea7 has confirmed Subsea Integration Alliance’s new contract with Equinor, which puts SIA in... Continue Reading →
(TN) Brazilian and Chinese shipyards are signing memorandums of understanding to develop technological and commercial partnerships at the Strategic Forum for the Brazil-China Shipbuilding Industry in Rio de Janeiro. The event is a follow-up to President Luiz Inácio Lula da Silva's state visit to China in May. Petrobras and Transpetro are participating in the event... Continue Reading →
(TN) Seatrium has selected Siemens Energy to supply the compression systems for Petrobras’ new floating production, storage and offloading (FPSO) vessels, P-84 and P-85. The project will increase the energy efficiency of the two vessels’ skids by supplying electric motor-driven compressors, marking the debut of a more sustainable generation of platforms for Petrobras. The contract... Continue Reading →
