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Subsea 7 S.A. announced the award to Seaway7, part of the Subsea7 Group, of a substantial1 contract by Ørsted for the transport and installation of the inter-array cables of the Hornsea 3 offshore wind project located in the UK sector of the North Sea. Seaway7’s scope of work covers the transportation and installation (T&I) of... Continue Reading →
(Reuters) - Colombia's energy ministry said on Tuesday it had received interest from seven foreign and two local companies in an offshore wind power project and that it expected formal bids within the first six months of 2025. The companies include Colombian state oil firm Ecopetrol and power firm Celsia, Spain's BlueFloat Energy, Denmark's Copenhagen Infrastructure Partners,... Continue Reading →
(Reuters) - Mexican state-owned oil company Pemex reported a deeper $8.2 billion third-quarter net loss on Tuesday, hurt mostly by a weaker exchange rate even as it benefited from support from the country's new government. The company, in a filing with the Mexican stock exchange, posted a loss of around $4.5 billion in the third... Continue Reading →
(Reuters) - Investment in the green energy transition needs to double to $3.5 trillion per year if the world is to meet the Paris Agreement's goal of reaching net zero emissions by 2050, a report by Wood Mackenzie said on Tuesday. On top of the investment gap, the consultancy's analysis said global efforts to shift... Continue Reading →
(Reuters) - President Joe Biden's administration on Tuesday will kick off a sale of offshore wind development rights for eight areas off the coasts of northern New England, a key test of industry appetite for new investment after a year of high-profile setbacks. The auction of nearly 1 million acres (404,680 hectares) in the Gulf... Continue Reading →
(Reuters) BP on Tuesday reported a 30% drop in third quarter profit to $2.3 billion, the lowest in almost four years, weighed down by weaker refining margins and oil trading results. The drop in profit from a year earlier was, however, smaller than expected. It comes amid a slowdown in global economic activity and oil... Continue Reading →
Petrobras ended the 3rd quarter of 2024 (3Q24) with total own production of 2.689 million barrels of oil equivalent per day (boed), a volume practically in line with the previous quarter. Among the operational highlights of the period are the achievement of peak production of the FPSO Sepetiba, in the Mero field, with the start-up... Continue Reading →
(oilnow.gy) TechnipFMC reported third-quarter 2024 revenues of US$2,348.4 million, with a net income of US$274.6 million, or US$0.63 per diluted share. Adjusted net income, which accounts for after-tax charges, was US$280.5 million, or US$0.64 per share. Key factors impacting adjusted net income included a US$60.6 million non-cash tax benefit and an $8.4 million after-tax foreign... Continue Reading →
(TN) Omni Táxi Aéreo, an affiliate of the Omni Helicopters International (OHI) Group, has been selected by Equinor Brasil to operate a new contract, providing aerial support for offshore activities in the Bacalhau field, located in the Santos Basin. The region, which is currently under development, will receive one of the largest FPSOs in the... Continue Reading →
(Reuters) - Chinese refiner Sinopec posted a 52.1% year-on-year decline in net profit to 8.54 billion yuan ($1.2 billion) for the third quarter because of lower oil prices and weak refining margins. The world's largest refiner by capacity, Sinopec's third-quarter revenue was 790.4 billion yuan, down 9.8% from a year earlier, the company said in... Continue Reading →
Brazil Energy Insight 