Offshore North America News - page 2


Why the US Offshore Wind Industry is in the Doldrums

Sep 07, 2023

The value of Danish energy company Orsted, the world's largest offshore wind farm developer and a big player in the U.S., has plunged about 31% since it declared $2.3 billion in U.S. impairments in late August due to supply delays, high interest rates and a lack of new tax credits…

SLB to Add $5B in Revenue This Year, Sees Similar Growth in 2024

Sep 07, 2023

SLB is on track to add about $5 billion in revenue this year, and sees similar potential for growth in 2024, mainly helped by increased drilling in international markets, CEO Olivier Le Peuch said at a conference on Wednesday.SLB, the world's largest oilfield service company and former Schlumberger…

US Offshore Wind Projects Seek Looser Subsidy Rules in Fight for Survival

Sep 06, 2023

A fleet of U.S. offshore wind projects central to President Joe Biden's climate change agenda may not move forward unless his administration eases requirements for subsidies in the year-old Inflation Reduction Act, according to project developers…

Orsted CEO Says Abandoning US Wind Projects a 'real option'

Sep 06, 2023

Denmark's Orsted, the world's largest offshore wind farm developer, is prepared to walk away from projects in the U.S. unless the Biden administration guarantees more support, Bloomberg News reported on Tuesday, citing the company's CEO. 'We are still upholding a real option to walk away…

Fishing Vessel Converted to CTV for Work in US Offshore Wind

Sep 05, 2023

A fishing vessel has been converted to operate as a Jones Act compliant crew transfer vessel (CTV) in the U.S. offshore wind industry.Hornblower Marine announced it converted the former fishing vessel Nice Day Too for New Bedford, Mass. based Coast Line Transfers…

How Serious a Problem is the Cost Issue in U.S. Offshore Wind?

Sep 04, 2023

Much has been written recently about the challenges facing U.S. offshore wind projects, resulting in requests to terminate or renegotiate contracts to sell power to states. Examples of these challenges can be found from Massachusetts to Virginia…

Equinor, BP Seek 54% Hike in US Offshore Wind Power Price, Filings Show

Sep 01, 2023

Norway's Equinor and its partner BP are seeking a 54% increase for the price of power produced at three planned offshore U.S. wind farms, according to a filing made by a New York state regulatory authority. The two partners in recent years won the rights to build the Empire Wind 1…

US Offshore Wind Sector Faces Key Test After Weak Gulf Auction

Aug 30, 2023

The low interest in the first-ever auction of offshore wind farm development rights in the Gulf of Mexico marks a potentially serious setback for U.S. President Joe Biden’s green energy agenda, and the U.S. offshore wind sector in general.U…

Low Interest Shown in US' First Gulf of Mexico Offshore Wind Auction

Aug 29, 2023

Only one of three available areas was sold during the United States' first ever offshore wind lease sale in the Gulf of Mexico on Tuesday.The auction, held by the Interior Department's Bureau of Ocean Energy Management (BOEM) offered up three sites for offshore wind development…

Chevron Evacuates Gulf of Mexico Platforms Ahead of Hurricane Idalia

Aug 29, 2023

U.S. oil producer Chevron on Tuesday said it evacuated staff from three U.S. Gulf of Mexico oil production platforms ahead of hurricane Idalia.Idalia was expected to become a major hurricane on Wednesday with sustained winds topping at least…

First US Gulf Offshore Wind Auction to Fuel Green Hydrogen Push

Aug 28, 2023

The U.S. Gulf Coast region, the nation's primary offshore source of oil and gas, has cheap electricity and lacks state mandates for renewable energy procurement, making it an unlikely place to expand one of the most expensive forms of clean energy…

Seatrium Bags Contract for Shell's Sparta Production Unit

Aug 27, 2023

Singapore-based Seatrium Oil and Gas International has signed a Letter of Intent with Shell Offshore for construction work relating to Shell’s Sparta project in the Gulf of Mexico.Sparta is a deepwater development approximately 170 miles off the Louisiana coast…

Offshore Wind: US Shipbuilders Answering the Call

Aug 24, 2023

It’s a big deal when a U.S. president visits an American shipyard, and these trips always send a message. When President Obama spoke at HII’s Newport News Shipbuilding in 2013, he warned of the consequences of sequestration. President Trump’s 2020 speech at Fincantieri Marinette Marine touted a $5…

Morgan Stanley Gets Behind Crowley's Offshore Wind Push

Aug 24, 2023

Morgan Stanley's infrastructure investment arm is teaming up with U.S. maritime, energy and logistics solutions company Crowley to advance offshore wind energy solutions for the United States.Investment funds managed by Morgan Stanley Infrastructure Partners (MSIP)…

Talos Inks Three-year Deal with Subsea 7 for US Gulf Projects

Aug 23, 2023

Subsea 7 has signed a three-year strategic partnership with Talos Energy to deliver commercial solutions for subsea engineering, construction and installation projects in the U.S. Gulf of Mexico.Under the agreement, the companies will collaborate…

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