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(Reuters) Norway's Equinor has launched the sale of its stake in an offshore Nigerian oilfield, joining a retreat by Western energy firms from the West African country as they focus on newer and more profitable operations, three industry sources said. The company has hired investment bank Standard Chartered to run the sale process, which could... Continue Reading →
(Reuters) - Argentina's government reached a $540 million deal with development bank CAF for the extension of natural gas pipelines and related infrastructure linked to the country's Vaca Muerta basin, Economy Minister Sergio Massa announced on Wednesday. The infrastructure plan, expected to be approved in March, aims to boost a pair of gas pipeline projects... Continue Reading →
(OE) Most of the media coverage of offshore wind development in the United States focuses on the leases of the offshore areas where the wind turbines will be located. However, equally important is the landside dimension of these projects, including the manufacture, installation, maintenance and operation of the turbines. Several awards made in the last... Continue Reading →
Energy producer Hess Corp. on Wednesday beat Wall Street estimates for fourth-quarter profit on higher crude prices, and said it had found more oil offshore Guyana. Western sanctions against major energy producer Russia and the decision of producer group OPEC+ to cut output by 2 million barrels per day pushed up Brent crude prices by... Continue Reading →
The Italian steel company Acciaierie d’Italia has signed a letter of intent with the Falck Renewables and BlueFloat Energy´s partnership on strategic collaboration for the development of renewable energy projects. The parties have established a technical working group which will focus on four areas. The Taranto-based company could provide steel and other materials for the... Continue Reading →
Thanks to the award of a long-term charter contract, Norway’s DOF Group has secured work in Brazil for one of its anchor handling tug supply (AHTS) vessels. DOF disclosed on Wednesday, 25 January 2022, that Petrobras has awarded a four-year firm charter contract to its Brazilian affiliate, Norskan Offshore, for the AHTS Skandi Ipanema to operate as AHTS-TS... Continue Reading →
Vallourec has signed a long-term agreement with Petrobras for OCTG (Oil Country Tubular Goods) solutions. The three-year agreement covers the supply of OCTG Premium products, associated accessories, and specialized physical and digital services, representing a volume of supply above 110kt of products and accessories. These products, associated accessories, and physical and digital services will support... Continue Reading →
(Reuters) - West Africa-focused oil producer Tullow (TLW.L) sees its 2022 free cash flow at $267 million, slightly ahead of previous guidance and up from $245 million the previous year, it said in a trading update on Wednesday. It plans to invest $400 million this year, mainly on its flagship fields in Ghana, expecting free cash flow... Continue Reading →
(Reuters) - French bank BNP Paribas (BNPP.PA) on Tuesday pledged to slash the money it has outstanding with the oil extraction and production industries to less than one billion euros ($1.1 billion) by 2030, an 80% decline from its current balance of five billion euros. The lender said it stopped financing oil projects back in 2016, but... Continue Reading →
(OWB) Half of the US offshore wind energy projects in the pipeline are at risk of being delayed beyond 2030 because of limited port and vessel infrastructure and domestic manufacturing, according to a new report co-authored by the National Renewable Energy Laboratory (NREL) and the Business Network for Offshore Wind. The US has set the... Continue Reading →
Brazil Energy Insight 