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Bureau Veritas has granted Approval in Principle (AiP) to Sweden-based Windeed for its low-weight and low-acceleration floater solution for offshore wind turbines. The AiP is a significant milestone in the development of Windeed’s technology, which could offer competitive prices and lower levelised cost of energy (LCOE) compared to other solutions on the market due to... Continue Reading →
The state administration of Maryland, US, has set a goal of achieving 8.5 GW of installed offshore wind capacity by 2035, by which time the state aims to have 100 per cent of clean energy in its energy mix. To support this target, the administration is working to establish new lease areas and strengthen the... Continue Reading →
(OM) Principle Power and Aker Solutions have been awarded a US Floating Offshore Wind Readiness (FLOWIN) Prize, which will set forth the goal to establish a sustainable and competitive domestic supply chain ecosystem to deliver floating offshore wind projects in the US. The FloatHOME Project will leverage the fourth-generation, industrialized WindFloat design to evaluate and compare deployment options,... Continue Reading →
(Reuters) - Spanish power company Iberdrola (IBE.MC) will seek to expand in the United States and take advantage of its green subsidies after announcing the sale of gas assets worth $6 billion in Mexico, Chief Financial Officer Jose Sainz said on Wednesday. The sale significantly reduces the renewable energy giant's exposure to Mexico, where its relationship with... Continue Reading →
(OEM) Chinese shipbuilder COSCO Shipping Offshore Engineering has held a groundbreaking ceremony in Qidong for the construction of a floating, production, storage and offloading (FPSO) vessel, which is destined to work for Petrobras in the Santos Basin pre-salt area offshore Brazil. The Chinese company says that it held the groundbreaking ceremony for the P-82 FPSO, which it describes as “the... Continue Reading →
Exxon Mobil Corp has ended a major campaign to find oil in Brazil, the Wall Street Journal reported on Wednesday, citing people familiar with the matter. The oil and gas giant has stopped current drilling at the offshore acreage it started snapping up with partners for $4 billion in 2017, after failing for the third time to... Continue Reading →
(Reuters) - Exxon Mobil Corp (XOM.N) on Tuesday signaled in a securities filing that first-quarter operating profits dropped about 25% from last year's record levels as oil and gas prices eased. Operating results could drop to about $9.6 billion, compared to $12.8 billion net profit from the fourth quarter, according to a snapshot of factors affecting first... Continue Reading →
(Bloomberg) Electricite de France SA is betting that wind turbines at sea — already the size of skyscrapers — will be about 50% more powerful at the start of the next decade when it completes the country’s largest offshore farm. The French utility expects even larger machines to contribute to higher output when it builds... Continue Reading →
(Reuters) - Private equity firm Apollo Management has made what it said was a final offer to buy John Wood Group (WG.L) for 1.66 billion pounds ($2.1 billion) in cash, after the British oilfield services and engineering firm rejected four earlier proposals. The 240 pence per share bid represents a premium of about 55% to Wood's closing... Continue Reading →
(Reuters) - Exxon Mobil Corp's (XOM.N) Low Carbon business has the potential to generate hundreds of billions of dollars in revenue and outperform the company's traditional oil and gas as soon as a decade from now, CEO Darren Woods said. The largest U.S. oil producer on Tuesday laid out to investors the aims of its emerging energy transition strategy... Continue Reading →
Brazil Energy Insight 