The U.S. Department of Energy (DOE) has released its latest report in the Pathways to Commercial Liftoff series, describing how the U.S. offshore wind sector is adapting to challenges and poised for continued progress, with a path to deploying over 100 gigawatts (GW) by 2050…
Deltic Energy has entered into an agreement with Dana Petroleum for the farm-out of its 25% interest in Shell-operated license containing the Selene Prospect in the North Sea.The transaction, in combination with the existing Shell UK carry,…
Costs at Equinor-operated Johan Castberg offshore field development project have increased by almost NOK 13 billion (currently $1,2 billion) since last year, but the production start-up date remains unchanged and is still slated for the fourth quarter of 2024…
The fossil fuel price crisis has accelerated the competitiveness of renewable power, according to the International Renewable Energy Agency (IRENA). Around 86% (187GW) of all the newly commissioned renewable capacity in 2022 had lower costs than fossil fuel-fired electricity…
In a Westwood survey on offshore wind cost inflation, nearly three-quarters of industry players indicated that they had started reviewing the viability of their projects in light of recent cost increases, with over 90% indicating that decision-making had slowed as a result…
The global floating solar market is expected to pass the six-gigawatt (GW) threshold by 2031, as PV developers struggle to meet growing solar demand and look to alternate development technologies, energy intelligence firm Wood Mackenzie said in a report Wednesday…
Wind power may generate roughly 40% of North America's electricity by 2050, and solar power another 32%, if current and projected capacity development plans proceed as expected, data from risk assessment firm DNV shows.With hydropower expected to generate an additional 11…
Petrofac Ltd said on Wednesday it expects to report a wider operating loss of about $150 million to $170 million for 2022, after a review of its portfolio of contracts and contractual and commercial issues revealed increased costs. The oilfield…
France and Spain announced a breakthrough on Thursday in a long-running impasse over what would be their first undersea electricity link.Spanish competition watchdog CNMC and French energy regulator CRE gave the go-ahead to a new cost-sharing…
For its offshore drilling and well projects in Norway, the oil and gas company Wintershall Dea will use AGR Software's iQx probabilistic time and cost estimation and tracking applications. AGR said Tuesday that the development would help with…
Oilfield services provider Petrofac Ltd on Tuesday forecast an annual operating loss of about $100 million due to challenges in recovering costs in its engineering and construction (E&C) division. The group expects E&C, its largest division…
Tidal stream energy could plummet below £80 per MWh by 2035 if current opportunity is realized, according to a recent report by the UK-based Offshore Renewable Energy (ORE) Catapult.The report ‘Cost Reduction Pathway of Tidal Stream Energy in the UK and France’ report…
Almost two-thirds or 163 gigawatts (GW) of new renewable power capacity added last year had lower costs than the cheapest coal-fired power plants in G20 countries, a report by the International Renewable Energy Agency (IRENA) showed.Last year…
Soaring demand for U.S. liquefied natural gas (LNG) as buyers steer clear of Russian fuel is putting some long-stalled U.S. export projects back on track. But rising costs for materials and labor threaten to snarl these plants once again.Two developers with projects sidelined due to the U…