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(WO) African nations should resist pressure from “powerful interests” to hastily abandon fossil fuels to avoid hurting their economies, Angola’s President Joao Lourenco said. Since the COP26 climate summit in Glasgow in November, pressure has been building on African countries to shift to cleaner energy sources to avoid catastrophic global warming. “More than 125 billion oil barrels... Continue Reading →
Wilson Sons posted net income above R$143 million in the first quarter, 437% higher than in the same period in 2021. The 437% growth in net income benefited from the exchange rate variation in this quarter, as the real appreciated 15%. But even excluding currency effects, the company reported a net income of R$ 80... Continue Reading →
Iberdrola has commissioned a solar-powered green hydrogen plant in Puertollano, central Spain, which it says is the largest plant currently operating in the world. The plant was opened on Friday by a delegation including King Felipe VI of Spain, the President of the Regional Government of Castilla-La Mancha, Emiliano García-Page, and Iberdrola chairman Ignacio Galán,... Continue Reading →
(Offshore Energy) South Korean shipbuilders Korea Shipbuilding & Offshore Engineering and Samsung Heavy Industries have won orders for a total of seven new LNG carriers. On 17 May, KSOE said it won a $910 million (1.17 trillion KRW) order to construct four new LNG carriers. Specifically, its units Hyundai Heavy Industries and Hyundai Samho Heavy Industries will... Continue Reading →
(OE) SeaTech Solutions International and Seawind Ocean Technology Holding have partnered up to develop semi-submersible floating platforms customized for Seawind’s construction and assembly requirements for its integrated floating offshore wind turbines. "The semi-submersible floating platforms are a key component in Seawind’s integrated approach to construct the concrete floating foundations and subsequently lift and assemble the... Continue Reading →
Danish offshore vessel company Maersk Supply Service has installed six mooring lines and six anchors for the DemoSATH floating wind project at the BIMEP open sea test site in the Biscay Bay off the coast of Armintza, Spain. SATH Technology is based on a concrete platform concept with a plug-and-play Single Point Mooring, the same... Continue Reading →
French offshore vessel operator Bourbon has won a contract to support the construction of the Eolmed project, a recently sanctioned pilot floating wind farm in the Mediterranean Sea, offshore France. The wind farm, owned by Qair, TotalEnergies, and BW Ideol, will consist of three floaters, each fitted with 10 MW turbines. This 30 MW project is located... Continue Reading →
Australian oil and gas company Karoon Energy has started its intervention campaign on the Baúna field, located offshore Brazil, using a Maersk Drilling-owned semi-submersible rig. After this campaign, the rig is scheduled for work on two more fields for Karoon. Karoon reported on Monday that its contract with Maersk Drilling for the Baúna intervention campaign... Continue Reading →
(Reuters) - Russian energy giant Gazprom (GAZP.MM) will not publish its first-quarter financial results, Interfax reported on Tuesday, citing an unnamed source. Several Russian companies have decided not to reveal their financial and operational results, while the government has classified some data amid Western sanctions over what Moscow calls a "special military operation" in Ukraine.
(Reuters) Equinor and Exxon Mobil Corp have taken the first steps to expand an $8 billion oil development off Brazil's coast, the Norwegian oil producer told Reuters. The firms want to boost future production from the Bacalhau oil field, Equinor's largest project outside of Norway with more than 1 billion barrels of oil, the company said. A... Continue Reading →
Brazil Energy Insight 