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Maryland Sets Course for Offshore Wind Energy Expansion

May 14, 2024

Maryland Governor Wes Moore signed a bill aimed at reevaluating and potentially revising existing offshore wind project plans, setting the stage for the state's goal of achieving 8,500 megawatts of offshore wind energy capacity by 2031.The bill…

Eni Eyes New Oil and Gas Spin-Offs in Energy Transition Satellite Strategy

May 13, 2024

Italian energy group Eni could spin off stakes in high-potential oil and gas projects, including in Indonesia and Ivory Coast, to help finance their development while focusing more capital on low-carbon activities, company sources said.Such…

Consortium Wins Tender for France's First Floating Offshore Wind Farm

May 15, 2024

A consortium including Germany's BayWa r.e. and Belgium firm Elicio won a tender to develop and operate France's first floating offshore wind farm, the 250-megawatt (MW) Bretagne Sud farm, French industry minister Roland Lescure said on Wednesday…

Brazil Pushes Out Petrobras CEO, Names Ex-Regulator to Top Job

May 15, 2024

The chief executive of Brazil's Petrobras offered to step down, the state-run oil company said on Tuesday, as the government lined up a former regulator for the role, sending shares sliding as investors braced for political interference.Brazilian…

Ørsted’s Gode Wind 3 Delivers First Power

May 08, 2024

First power from Ørsted’s Gode Wind 3 offshore wind farm in the German North Sea is now feeding the grid.Offshore wind construction company Cadeler reports its wind turbine installation vessel (WTIV) Wind Osprey recently installed the first Siemens Gamesa 11-megawatt (MW) turbine at the project…

SLB OneSubsea and Subsea7 Win Contract for OKEA’s Bestla Project

May 07, 2024

OIlfield services company SLB  on Tuesday announced its OneSubsea joint venture and Subsea7 has been awarded a 'sizeable' integrated engineering, procurement, construction, and installation (EPCI) contract from OKEA.The contract will see the…

Escalated Middle East Conflict Could Hike Oil Price to $150/barrel, Bloomberg Finds

May 07, 2024

So far, the Israel-Hamas conflict has had limited impact on the global economy. However, an escalation to a direct war between Israel and Iran, could result in oil prices rising to $150 a barrel and global output cut by $1 trillion, according…

Optimizing Cathodic Protection Survey Using Non-contact Sensors

May 08, 2024

The principle behind sacrificial anodes, which are used to safeguard underwater pipelines and structures from corrosion, is relatively straightforward. Made of alloys like aluminum, Zinc and is some cases Magnesium, the anodes are more reactive…

Colombia's Ecopetrol Talking to Very Large Offshore Wind Players

May 08, 2024

Colombia's majority state-owned energy company Ecopetrol has held talks with big players ahead of a potential bid in an offshore wind auction organized by the country's government, Chief Executive Ricardo Roa said on Wednesday.Roa was speaking…

Shell Smashes Forecasts With $7.7 Billion Quarterly Profit

May 02, 2024

Shell reported first-quarter profit of $7.7 billion on Thursday, exceeding expectations as disruption to Red Sea shipping and Russian refining boosted oil trading and liquefied natural gas production rose.The company said it will buy back a further $3…

Petrobras Q1 Oil Production Up 4.4%

Apr 29, 2024

Brazilian state-run oil company Petrobras said on Monday that its crude oil production during the first quarter rose 4.4% compared to the same period last year.Petrobras pumped 2.24 million barrels per day (bpd) in the period, the firm said in a statement…

BP’s First Quarter Profits Drop to $2.7B

May 07, 2024

BP reported on Tuesday first-quarter earnings of $2.7 billion, down 40% from a year earlier and missing forecasts due to lower energy prices and a U.S. refinery outage, even as oil and gas production increased.The London-based company held its dividend at 7…

California’s First Floating Wind Project Steps Closer to PPA

May 03, 2024

CADEMO Corporation, established by Floventis, and California Community Power (CC Power) have signed a memorandum of understanding (MoU) to facilitate the development of the 60 MW floating wind project off the California coast.The MoU is intended…

Balmoral Comtec Gets Hornsea 3 Cable Protection Job

May 02, 2024

UK-based offshore energy supply chain company Balmoral Comtec has secured a multi-million-dollar contract from for Ørsted for the supply of cable protection systems (CPS) for its Hornsea 3 offshore wind project.The scope of work includes design…

ConocoPhillips Misses Quarterly Profit Estimates

May 02, 2024

U.S. oil producer ConocoPhillips missed Wall Street bets for first-quarter profit on Thursday, as lower natural gas prices and increased costs offset gains from higher oil production.A milder-than-expected winter hurt demand for the heating fuel in the quarter and pulled down U…

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