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(OET) Fugro has reported a revenue of over €1 billion for the first half of 2023, representing a 24.1% growth from €833 million in the first half of 2022, said to be due to continued high client demand in energy markets, in particular for offshore wind site characterization solutions and related nearshore activities. In 1H... Continue Reading →
(Reuters) - Spanish oil company Repsol (REP.MC) said on Thursday that its adjusted profit fell sharply in the second quarter, dragged by lower energy prices, but came in above analysts' expectations. The adjusted profit for the period was 827 million euros ($917.4 million), down from 2.16 billion euros a year earlier, when oil and gas prices, as... Continue Reading →
(Reuters) - Shell (SHEL.L) and TotalEnergies (TTEF.PA) reported sharp falls in second-quarter profit from bumper 2022 earnings as oil and gas prices, refining margins and trading results all weakened. Oil and gas prices soared last year in the wake of Russia's invasion of Ukraine but energy prices have dropped sharply this year as fears of shortages eased amid global... Continue Reading →
(Reuters) The chief executive officer of Mexican state energy oil Pemex on Wednesday sought to downplay an oil spill in the Gulf of Mexico this month, saying it was quickly fixed and less serious than academics had calculated. Pemex has been under intense pressure from non-governmental organizations and researchers from the country's top university to... Continue Reading →
In 2Q23, average production of oil, NGL and natural gas reached 2.64 MMboed, 1.5% lower compared to 1Q23, mainly due to higher volume of losses from stoppages and maintenance, the natural decline of mature fields and divestments. Those effects were partially offset by the ramp-up of P-71, in Itapu field, and the startup of FPSOs... Continue Reading →
(OE) Subsea 7's recently delivered Seaway Alfa Lift offshore wind foundation installation vessel is in transit to Europe and is expected to join Subsea 7's fleet in the third quarter of 2023. The semi-submersible heavy installation vessel, designed by Ulstein, will be used to install the next-generation XXL offshore wind foundations. The newbuild heavy lift... Continue Reading →
(OET) Following the onset of the Ukraine crisis, the global oil and gas industry embarked on a growth upcycle, raising concerns that this is putting net-zero 2050 commitments at risk. With this at the forefront, the energy supply chain is refocusing on the thriving oil and gas sector, triggered by a lack of consistent and... Continue Reading →
(Reuters) Germany raised installed offshore wind capacity by 3.1% to 8,385 megawatts (MW) in the first half of 2023, industry lobbies said on Tuesday, demanding better revenue guarantees to maintain a build-out pace and ensure it will reach a 30,000 MW target by 2030. Wind power is central to Germany's transition to renewable energy as... Continue Reading →
(OE) Offshore installation firm DEME Offshore said Tuesday it had installed the approximately 3,000 ton offshore substation for the Vineyard Wind 1 project - the first commercial-scale offshore wind farm in the United States. "The installation of the offshore substation, a first in the US, took place after months of preparation with collaboration and dedication... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, further to the releases to the market dated January 29, 2020 and May 27, 2021, informs that the District Court of Rotterdam ("Court") issued today an interim decision on the merits in the collective action filed by the St. Petrobras Compensation Foundation ("Foundation") against Petrobras and other defendants in the... Continue Reading →
Brazil Energy Insight 