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A new giant of the seas will soon come into operation. The FPSO Almirante Barroso left this week from the BrasFELS shipyard heading for the Buzios field, in the Santos Basin pre-salt. The FPSO has been at the shipyard since October last year for commissioning activities and final acceptance tests. The vessel was converted in... Continue Reading →
(Reuters) BP is set to hire over 100 employees to its offshore wind division as the energy company rapidly expands its operations in the fast-growing sector around the world. The hiring process will begin in the coming weeks, as part of BP's ambition to double the size of the offshore team to 800 employees over... Continue Reading →
The National Petroleum Agency (ANP) recently approved the sale of Petrobras' stake in the Capixaba Norte Cluster to Seacrest Petróleo. As a reminder, the transaction was announced in February 2022, for a total of US$ 544 million. The Capixaba Norte Cluster comprises four onshore fields: Cancã, Fazenda Alegre, Fazenda São Rafael and Fazenda Santa Luzia.... Continue Reading →
(OED) Siemens Gamesa and the Japanese shipping and logistics company NYK have signed a time charter contract for a crew transfer vessel (CTV) that will be used at an offshore wind farm in Japan. The CTV will be owned by NYK and managed by Hokkaido-based Hokuyo Kaiun Co., Ltd., an NYK Group company. The vessel... Continue Reading →
(TXF) Delays and project cost overruns from the pandemic have meant lenders and sponsors of the Yunlin offshore wind farm in Taiwan are scrambling to remedy the project’s financial woes. ECAs may push out the tenor envelope to ease the pressure - but concrete solutions are yet to be realized. The fledgling Taiwanese offshore wind... Continue Reading →
(OE) TotalEnergies and Corio Generation have signed a joint venture partnership to develop the Formosa 3 offshore wind farms in Taiwan. Corio will remain the majority shareholder and lead developer with 50% plus 10 shares overall in project. The announcement comes after Taiwan’s Bureau of Energy confirmed in late December 2022 that Formosa 3’s Haiding... Continue Reading →
(Reuters) - Vietnam may not have a legal framework to regulate offshore wind farms until next year, a European Union business representative said on Thursday, a delay that could stall billions of dollars of foreign investment in the sector. Vietnam has big offshore wind power potential given the strong winds and shallow waters near coastal... Continue Reading →
(Reuters) - Spain's Repsol (REP.MC) said on Thursday its fourth-quarter adjusted net profit more than doubled, helped by high oil and gas prices, and flagged a big increase in capital spending for this year. Its fourth-quarter profit surged to 2.01 billion euros ($2.15 billion) from 872 million a year earlier, topping the 1.75 billion euros expected by... Continue Reading →
(Reuters) - Guyana, which has jumped into the forefront of offshore oil exploration, is using its inland forests to tap carbon markets, in a business the government sees as more profitable than using the acreage for mining or agriculture, Vice President Bharrat Jagdeo said on Wednesday. The South American country, one of the fastest growing... Continue Reading →
(Reuters) - Glencore (GLEN.L) announced a payout of $7.1 billion to its investors on Wednesday, as high oil and coal prices helped it to post a record annual profit, but it said the rising costs of producing minerals could dent future earnings. In preliminary 2022 results, the miner and trader said it cut net debt to $75... Continue Reading →
Brazil Energy Insight 