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(Reuters) - Equinor (EQNR.OL) posted on Wednesday a 57% year-on-year decline in second quarter core profit, in line with expectations as oil and gas prices fell, while maintaining its dividend and share buyback levels, sending its shares slightly lower. The Norwegian energy group's adjusted earnings before interest and tax for April-June fell to $7.54 billion from $17.6... Continue Reading →
(Reuters) Spanish utility Iberdrola has sold a 49% stake in its 476 megawatt (MW) offshore wind farm in German waters in the Baltic Sea to Abu Dhabi's Masdar for about 375 million euros ($414.5 million), it said on Wednesday. Iberdrola said that the deal pegged the total value of the so-called Baltic Eagle project, which... Continue Reading →
(Reuters) - Oil and gas producer Hess Corp (HES.N) on Wednesday beat Wall Street estimates for second-quarter profit, buoyed by higher production and disclosed a new oil discovery in the Gulf of Mexico. Crude prices have slipped from the multi-year highs hit last year following Russia's invasion of Ukraine but remain strong enough to encourage oil and... Continue Reading →
The Búzios field, the largest in the world in ultra-deep waters, reached, in June, the accumulated production of 1 billion barrels of oil equivalent (boe), after just five years since the asset started operations. This result is due to the high productivity per well in Búzios, the evolution of knowledge accumulated in the pre-salt fields... Continue Reading →
(Reuters) - Argentina's last-ditch effort to secure International Monetary Fund cash with measures that will weaken the peso risks pushing triple-digit inflation even higher and angering voters just three months before national elections. Economists said steps unveiled on Monday by Economy Minister Sergio Massa, himself a presidential hopeful, were unlikely to dampen inflation that is already running... Continue Reading →
(OE) French steel pipemaker Vallourec said Monday it had won two major orders to supply line pipes for phases 6 and 8 of the Buzios oil field development operated by Petrobras. These orders are in addition to the contract previously won for phase 7, representing a total of 48,000 tons of line pipe. Located off... Continue Reading →
(OW) The first Siemens Gamesa wind turbine for the 25 MW Provence Grand Large floating offshore wind farm has been assembled in France. The floating wind farm will comprise three Siemens Gamesa 8 MW wind turbines installed on tensioned line floats and designed by SBM Offshore and IFP Energies Nouvelles. The turbine components, manufactured at Siemens Gamesa’s factory... Continue Reading →
Brazilian offshore support vessel service company OceanPact has acquired two AHTS vessels, Skandi Saigon and Skandi Pacific, from Akastor's subsidiary DDW Offshore. OceanPact chartered the two vessels in March 2021 to support Petrobras' operations, with OceanPact having a purchase obligation at the end of the bareboat term. "Following the expiry of the charter period, both vessels are now... Continue Reading →
(OM) Seaway7 recently concluded its scope on SSE Renewables and TotalEnergies's Seagreen Offshore Wind Farm, after almost two years of offshore construction. The EPCI scope for both foundations and cables on the project was one of the largest contract scopes delivered in offshore wind to date. Seaway7 implemented suction bucket foundation technology on jackets to overcome the difficult... Continue Reading →
(Reuters) - TotalEnergies (TTEF.PA) said on Tuesday that it would take full control of renewable energy company Total Eren, increasing its stake from 30% in the company to full ownership. TotalEnergies said that as part of the transaction, Total Eren would be valued on an enterprise value basis at 3.8 billion euros ($4.2 billion), and that the... Continue Reading →
Brazil Energy Insight 