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(OE) With the creation of a full-fledged U.S. offshore wind industry undoubtedly comes many opportunities for those that own, operate, build and service relevant vessels as developers work toward the nation’s goal of 30 gigawatts (GW) of offshore wind by 2030. But for every opportunity there are at least a handful of challenges, many of... Continue Reading →
A CGX Energy Inc. and Frontera Energy Corporation consortium has started drilling the Wei-1 well, on the Corentyne block, approximately 200 kilometers offshore from Georgetown, Guyana. To remind, under the Corentyne block license terms, the joint venture was previously required to spud Wei-1, the second of two commitment wells on the block, by November 27,... Continue Reading →
(Reuters) - Baker Hughes Co (BKR.O) missed a fourth-quarter profit estimate on Monday as the oilfield services firm navigated challenges including component shortages, supply chain inflation and disruptions caused by Russia's invasion of Ukraine. Drilling activity picked up in 2022 in response to elevated oil prices but the pace remains slower than pre-pandemic levels as several energy... Continue Reading →
(Reuters) - Ecuador's state oil company Petroecuador said on Friday that union workers had ended a three-day protest in Quito after reaching an agreement with the government over improved salaries. The company's workers began the protest on Wednesday to demand compliance with a judicial ruling that required workers' salaries to be brought in line with one another.... Continue Reading →
(Bloomberg) -- The conflict between Brazil’s ambitions to become a more responsible environmental steward while also ramping up lucrative oil exports has turned into an early test for President Luiz Inacio Lula da Silva. Off the coast of northern Brazil where the Amazon River enters into the South Atlantic, state-controlled oil giant Petroleo Brasileiro SA... Continue Reading →
(Reuters) - Brazilian Senator Jean Paul Prates, nominated by President Luiz Inacio Lula da Silva to head state-run oil company Petrobras (PETR4.SA), has been meeting with members of his Workers Party to confirm decisions about the new senior management for the company, four sources familiar with the matter said. The meetings highlight that the leftist party,... Continue Reading →
(Reuters) - Charges unveiled by two offshore wind sector leaders highlight the challenges the fast-growing renewables industry is facing, ranging from quality issues to cost inflation, that are hitting profit outlooks. Denmark's Orsted (ORSTED.CO), the world's No. 1 offshore wind farm developer, late on Thursday announced a writedown on a large U.S. offshore wind project and... Continue Reading →
(Reuters) - Germany on Friday said it has drawn up new development plans for offshore wind turbine sites to reach a target for 30 gigawatts (GW) of installed wind power capacity by 2030. The plans by the Federal Maritime and Hydrographic Agency (BSH) will ensure that the target can be met, the Economy Ministry said... Continue Reading →
Bureau Veritas has been awarded the project certification of Arklow Bank Wind Park Phase 2, off the east coast of Ireland at Arklow, Co. Wicklow, following a competitive tender process. SSE Renewables, the owner of the project, will invest up to €2.5 billion to deliver the project, which is targeting operation in 2028. The company... Continue Reading →
EDP, a company that operates throughout the Brazilian electricity sector chain, launched in São Gonçalo do Amarante, Ceará, its green hydrogen production plant as part of the Pecém Research & Development project H2V, which had an investment of R$ 42 million. In December, the company had already generated the country's first green hydrogen molecule at... Continue Reading →
Brazil Energy Insight 