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(offshoreWIND.biz) Japan’s Sumimoto Corporation and JGC Japan Corporation have signed an agreement to investigate the possibility of collaboration in the detailed design, manufacture, and delivery of structural components for floating offshore wind turbines. According to the companies, they aim to cut costs, improve efficiency, and mass-produce structures for floating wind farms, while also setting up... Continue Reading →
(Reuters) - Hess Corp beat estimates for second-quarter profit on Wednesday, helped by sharply higher oil production in Guyana and stronger prices. The South American country and its lucrative oil assets are at the center of a dispute between Hess, Chevron and Exxon . Last October, Hess agreed to sell itself to Chevron for $53 billion in stock,... Continue Reading →
(OE) Ocean Power Technologies (OPT) has signed a reseller agreement for its technology with Geos Telecom, a provider of maritime communication and navigation solutions in Costa Rica. The partnership marks an expansion of OPT’s presence in the Latin American market and includes the immediate sale of a WAM-V (Wave Adaptive Modular Vessel) with anticipated near-term... Continue Reading →
Brazilian oil and gas companies Enauta and 3R Petroleum have completed all conditions for the previously announced merger, which is set to be finalized on July 31, 2024. The merger follows the memorandum of understanding (MoU) the companies signed in April, involving the integration of Enauta and 3R’s activities, as well as the transactionfor merger... Continue Reading →
(Reuters) - Brazilian prosecutors, who have recommended that environmental agency Ibama block drilling by state-run oil company Petrobras near the mouth of the Amazon river, has demanded that Ibama respond within three days, a document seen by Reuters shows. The federal prosecutors office (MPF), an independent agency, filed a July 22 notice that appeared on... Continue Reading →
(OE) Offshore drilling company Valaris has secured approximately $715 million in new contracts and extensions since its last fleet status report issued three months ago. Contract backlog of $715 million excludes lump sum payments such as mobilization fees and capital reimbursements, according to Valaris, which marked contract backlog increase to approximately $4.3 billion from approximately... Continue Reading →
(Reuters) Oilfield services firm Baker Hughes beat analysts' estimates for second-quarter profit on Thursday, powered by higher demand for its drilling services and equipment in international markets. The results echo those from SLB and Halliburton, as strong global demand helps the world's largest oilfield firms counter weakness in North America due to mega mergers among... Continue Reading →
(OE) Oil and gas company Enauta has completed all subsea system and lines connections with the floating production storage and offloading (FPSO) Atlanta, ahead of first oil production expected in August. Ongoing activities currently include mandatory adaptations by regulatory agencies, final testing, and commissioning, which will conclude the operational activities scheduled to start production on... Continue Reading →
(Reuters) BP increased its dividend and extended its share repurchasing programme on Tuesday as it reported a forecast beating second-quarter profit of $2.76 billion, with weak refining offset by stronger oil prices and retail. The result will ease pressure on CEO Murray Auchincloss after BP fell short of profit expectations in the previous two quarters.... Continue Reading →
(Reuters) Brazilian state-run oil company Petrobras said on Monday its crude oil production during the second quarter rose 2.6% from the year-ago period after it ramped up five oil platforms and started production in 12 wells. Petrobras pumped 2.16 million barrels per day (bpd) from April to June, and produced 2.7 million barrels of oil... Continue Reading →
Brazil Energy Insight 