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(Reuters) British utility SSE and green power firm Brookfield Renewable will work together in preparing bids for the Dutch 1.4 gigawatt (GW) Hollandse Kust (west) offshore wind farm zone tenders, they said on Wednesday. The 50/50 strategic partnership seeks to combine SSE Renewables' expertise in developing, constructing and operating offshore wind farms with Brookfield's experience... Continue Reading →
(Reuters) Finland's Wartsila, a top global marine and energy equipment maker, posted first-quarter earnings roughly in line with expectations on Thursday, citing increased uncertainty in demand and supply in its end markets. Wartsila said its comparable operating profit increased 61% to 65 million euros ($68.25 million) from 41 million in the year-ago quarter, against a... Continue Reading →
Subsea 7 has reported a revenue of $1.2 billion in the first quarter of 2022, an increase of $197 million or 20% compared to Q1 2021, said to reflect strong growth in the Subsea and Conventional business unit. According to the UK-based company, the increase in revenue is impacted by significant activity on the Sakarya project... Continue Reading →
Oil and gas company Afentra plc, led by former Tullow CEO Paul McDade, has signed an agreement with Angola's Sonangol to buy interests in Block 3/05 and Block 23, offshore Angola. Afentra will pay $80 million and could also pay contingent payments of up to $50 million in aggregate in the case of Block 3/05, with... Continue Reading →
(Reuters) China's top offshore oil and gas producer CNOOC Ltd saw its net income more than double during the first quarter of 2022 from a year ago, on the back of a surge of global oil prices and an increase in domestic oil and gas production. The listed arm of the state-backed CNOOC Group reported its revenue rose 74% year-on-year to... Continue Reading →
With efforts accelerating to develop offshore wind farms, there remain many unresolved questions on the scope of U.S. cabotage laws and how specifically the Jones Act will be applied to the construction of the wind farms. While the U.S. has said that it will apply the regulations in a similar fashion to their previous applications... Continue Reading →
(Reuters) - German oil and gas producer Wintershall Dea (WINT.UL) said on Thursday it will look beyond Russia for growth in a "fundamental" change for the company, but will retain its assets there to avoid them falling to the Russian state. "There can be and will be no 'business as usual' with Russia now," Chief... Continue Reading →
(Reuters) - TotalEnergies (TTEF.PA) will expand plans to buy back its own shares, the French energy group said on Thursday after first-quarter core earnings rose sharply on soaring oil and gas prices. The oil and gas major, which is bolstering its renewables and electricity portfolios, is now planning $3 billion of share buybacks during the first half... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on 02/21/2020 and 02/04/2022, informs that sale process of 100% of its Nitrogen Fertilizer Unit III (UFN-III), located in the city of Três Lagoas, Mato Grosso do Sul, with the Russian group Acron hasn’t been concluded, considering that the business plan proposed by the... Continue Reading →
TechnipFMC has reported $1.9 billion of inbound subsea orders in the first quarter of 2022, an increase of 83% when compared to the fourth quarter of 2021, resulting in a book-to-bill of 1.5. For the Subsea segment, TechnipFMC reported revenue of $1,289.1 million, a 4.3% increase from the fourth quarter of 2021, primarily said to... Continue Reading →
Brazil Energy Insight 