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Petróleo Brasileiro S.A. – Petrobras informs that on Thursday (18 April) it signed a Memorandum of Understanding (MoU) with the Argentina state energy company Enarsa to study partnerships in the natural gas segment. The non-binding agreement has a term of three years and will allow for the exchange of information; the assessment of alternatives for... Continue Reading →
(Reuters) - Hess Corp (HES.N), opens new tab reported a first-quarter profit on Thursday that beat analysts' estimates, helped by higher production from the oil and gas company that is set to be acquired by U.S. energy major Chevron (CVX.N), opens new tab in a $53 billion deal. Net production at Hess jumped 27.3% to 476,000 barrels of oil... Continue Reading →
(offshoreWIND.biz) The US Bureau of Ocean Energy Management (BOEM) and the Bureau of Safety and Environmental Enforcement (BSEE) have finalized updated regulations for renewable energy development on the US Outer Continental Shelf (OCS). The final rule is said to increase certainty and reduce the costs related to the deployment of offshore wind projects by modernising... Continue Reading →
(OE) BW Ideol has unveiled its standardized foundation for floating offshore wind, ready for mass production to accommodate the needs of the growing sector. With over 22 GW already awarded in Scotland, around 8 GW in the USA, and several GW currently being awarded or in the tendering phase elsewhere in the world, floating wind... Continue Reading →
(Offshore-energy.biz) The Science Based Targets initiative (SBTi) has approved Fugro’s near- and long-term science-based emissions reduction targets. Fugro’s net-zero target spans all three emission scopes, with the ultimate goal of achieving net-zero greenhouse gas (GHG) emissions across the value chain by 2050. “This validation by the Science Based Targets initiative underscores Fugro’s strong dedication to... Continue Reading →
(OE) Saipem has installed the second unmanned High Voltage Direct Current (HVDC) platform at Dogger Bank, being built in UK waters and set to become the world’s largest offshore wind farm once constructed. The substation is the second of three platforms, each supplied by Aibel, to be installed at Dogger Bank offshore wind farm, which... Continue Reading →
(Reuters) President Joe Biden's administration unveiled plans on Wednesday to hold up to a dozen auctions of offshore wind development rights through 2028, including four before the end of this year. The schedule will help companies, states and others plan for projects that require massive amounts of investment and infrastructure, the Interior Department said in... Continue Reading →
(Reuters) - Oilfield services firm Baker Hughes (BKR.O), opens new tab beat analysts' estimates for first-quarter profit on higher international drilling demand and increased its dividend. Brent crude rose nearly 10% in the quarter on an average, prompting oil firms to drill more, creating demand for oilfield services and equipment offered by Baker Hughes and rivals. International... Continue Reading →
Jesper Skjong, Contributor (OE) Since our last market update in the subsea space about a year ago both our current market view and forecasts have strengthened significantly. While the demand picture is looking solid and arguing for a strong multi-year upcycle, the supply side has also started to wake from its slumber albeit ever so slightly... Continue Reading →
By Matthew Smith for Oilprice.com Suriname aims to replicate Guyana's oil success but faces challenges due to delays, commercial concerns, and global climate change efforts. TotalEnergies and APA plan to make the final investment decision on the Block 58 project by the end of 2024, targeting first oil in 2028. Suriname's oil boom could transform... Continue Reading →
Brazil Energy Insight 