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(OET) Offshore drilling contractor Valaris has recorded a strong operational and financial performance during the third quarter of 2023, thanks to a rise in rig demand and day rates. The rig owner’s outlook for the offshore drilling market over the next two years remains bullish with further improvements in fleet utilization and day rates on... Continue Reading →
(Reuters) Denmark's Orsted is still "committed" to developing offshore wind farms in the United States despite the company's cancellation of two projects off the coast of New Jersey, White House senior advisor John Podesta told Reuters on Monday. Podesta spoke with the company after its shock decision last week, he said in an interview. The... Continue Reading →
(OW) DNV has concluded Phase 1 of its joint industry project (JIP) focused on establishing offshore substation standards for the growing floating wind sector. According to DNV’s 2023 Energy Transition Outlook (ETO), floating offshore wind capacity is projected to exceed 260 GW by 2050. Offshore substations play a crucial role in the scaling of floating... Continue Reading →
- PRIO S.A. (“Company” or “PRIO”) (B3: PRIO3), following best practices incorporate governance and transparency, informs its preliminary and non-audited Operational Data for the month of October. Key: (1) The figures refer to PRIO's 90% interest in Albacora Leste, assuming production throughout the month. As the acquisition’s closing happened on January 26, 2023, the field... Continue Reading →
(Reuters) - French energy company Engie (ENGIE.PA) raised its annual revenue targets on Tuesday after reporting an improvement in its earnings for the first nine months of 2023, mainly due to its energy management activities. The company said it was now targeting a net recurring income group share of 5.1 billion euros to 5.7 billion ($5.46-$6.10 billion),... Continue Reading →
(OW) Norway-based Havfram has decided to wind up its business unit dedicated to the early-phase development of offshore wind farms, Kontiki Winds. Moving forward, the company said it would fully focus on the offshore wind transport and installations market. The news came a day after Havfram revealed that Kontiki Winds was ending its collaboration with... Continue Reading →
(OW) Several days ago, Ørsted called it quits on the Ocean Wind 1 offshore wind farm in the US, with some of the main issues leading to the decision to abandon the project being supply chain bottlenecks, primarily vessel shortages. This has affected not only the now-dropped Ocean Wind 1 but also the company’s Revolution... Continue Reading →
(OW) Canada Pension Plan Investment Board (CPP Investments), through its wholly-owned subsidiary CPPIB Renewables Europe S.à r.l, has agreed to sell its 24.5 per cent stake in two German offshore wind farms to a wholly-owned subsidiary of Enbridge. Under the transaction, CPP Investments will sell its stake in Hohe See and Albatros offshore wind farms,... Continue Reading →
(OE) Oilfield services players Halliburton and Oil States Industries have entered into a strategic collaboration that combines their technologies to provide deepwater managed pressure drilling (MPD) solutions. According to Halliburton, MPD provides operators with improved control when navigating narrow pressure windows compared to conventional drilling and the collaboration between Halliburton and Oil States will provide operators... Continue Reading →
The rise in energy security concerns has reinvigorated the zest for more hydrocarbons, thus, the global oil and gas industry is turning to floating production systems to develop new projects. Bearing this in mind, a new report predicts a further boost in demand, with projected orders reaching up to $173 billion for as many as... Continue Reading →
Brazil Energy Insight 