The Biden administration on Monday issued an offshore wind lease to the state of Maine for a small project that will demonstrate floating turbine technology off the U.S. East Coast.The lease area covers 9,700 acres (3,920 hectares) and is 28 nautical miles (52 kilometers) from shore…
The intermittency of offshore wind power is both a challenge and an opportunity for green hydrogen production. There will be a new generation of platforms taking up space in offshore wind farms as hydrogen production is used to help balance power supply and demand…
OceanX, which is reported by its developer MingYang Group to be the world's largest single capacity floating wind power platform, embarked on its journey from Guangzhou to the Yangjiang Mingyang Qingzhou IV offshore wind farm in Guangdong, China…
Eni reports it started gas production from the Argo Cassiopea field, coming from one of the four subsea wells drilled in recent months in the Strait of Sicily. Once captured, the gas is transported through a 60 km subsea pipeline to the Gela processing plant…
Asian spot liquefied natural gas (LNG) prices rose to their highest in over eight months, with warmer temperatures across the region boosting power demand for cooling purposes.The average LNG price for October delivery into north-east Asia LNG-AS was at $14…
Europe's record gas surplus inherited from the winter of 2023/24 has been largely eliminated following an unusually small accumulation of inventories so far in the summer of 2024.Inventories across the European Union and the United Kingdom have risen by just 336 terawatt-hours (TWh) since March 31…
Norway's Equinor and U.S. power company Dominion were the winning bidders in a U.S. government offshore wind auction of two areas off the coasts of Delaware, Maryland and Virginia, the U.S. Interior Department said on Wednesday.The offshore…
Fishing has been a lifeline for Alejandro Alcones for the past four decades, but he now fears his small boat may be replaced by a floating solar farm on the Philippines' largest lake.Alcones is part of a group of fishermen opposed to the government's plan to place solar panels atop Laguna de Bay…
Investors cut their petroleum positions to the lowest level for at least a decade early last week, part of a broad-based retreat from risk amid rising concerns over a global economic slowdown.Hedge funds and other money managers sold the equivalent…
Mexico's incoming government will encourage state oil producer Pemex to seek equity partnerships with private oil companies, a model out of favor with the current president, in a bid to boost reserves amid towering debt, according to four sources familiar with the matter…
Brazil's state-run oil company Petrobras has obtained environmental licenses to expand production in two offshore fields, and could have one vessel start production earlier than expected in one field, three people with knowledge of the matter told Reuters…
Early 2024 saw a group of financial deals that have implications, in a broad sense, for how offshore wind projects may be financed. While offshore wind projects might be thought of as being in the ‘utility finance’ basket, they are ultimately…
Representatives of BP and Abu Dhabi's state oil giant met Cypriot Energy Ministry officials on Friday to explore investments in the country's emerging natural gas sector, a source familiar with consultations said.BP and ADNOC earlier this year…
Offshore winds have the potential to supply coastlines with massive, consistent flows of clean electricity. One study estimates wind farms just offshore could meet 11 times the projected global electricity demand in 2040.In the U.S., the East Coast is an ideal location to capture this power…
The U.S. Bureau of Ocean Energy Management said on Friday it is seeking competitive bids for offshore wind leases off the coast of Texas after renewable energy developer Hecate Energy Gulf Wind LLC made an unsolicited bid.The administration…