The offshore energy sector, like any industry, is constantly subject to market cycles. Challenging conditions may lower demand, resulting in a significant number of resources such as offshore support vessels (OSVs) and drillships being deactivated for potentially extended periods…
Belgian developer Parkwind has reached an agreement with Irish state-owned utility ESB to collaborate on the 330MW Oriel and 500MW Clogherhead wind farms off the coast of Ireland.The Irish utility has agreed to acquire an interest of up to 35% in the Oriel windfarm…
Italian oil company Eni said that it has successfully launched a new production well in the Vandumbu field, about 350 km north-west of Luanda and 130 km west of Soyo, in the West Hub of Block 15/06, in Angola’s offshore.According to a press release…
An appraisal well in the Zama project offshore Mexico showed more potential for oil, raising hopes of a large discovery, operator Talos Energy said on Thursday.The Zama project in Block 7 offshore Mexico is operated by Talos, whose partners include Sierra Oil and Gas and Premier Oil…
When the global oil industry held its biggest annual gathering this week in the Swiss town of Davos, it invited banking bosses and fund managers to discuss two key topics - climate change and pressure from investors.The conclusion of the discussions…
The U.S. government shutdown has delayed Enterprise Products Partners LP's plan to build a major U.S. crude export terminal off Houston, blocking the pipeline operator from filing paperwork with U.S. regulators, an executive said on Wednesday…
Singaporean conglomerate Keppel Corp posted improved results for the fourth quarter, helped by narrower losses in its offshore and marine division, and said it was seeing signs of recovery in the rig industry.The company on Thursday reported a net profit of S$135 million ($99…
German energy group RWE AG announced that it has filed with the European Commission (EC) its planned acquisition of the renewable energy business of both E.on SE (ETR:EOAN) and Innogy SE.The landmark deal between German utilities Eon and RWE was signed in March 2018…
Wilhelmsen Ship Management (WSM) has entered into a management agreement with Ireland-based Pardus Energy for their new building Floating Storage and Regasification Unit (FSRU).WSM, one of the world’s largest third-party ship manager with a…
German utility EnBW could seek more partners in its planned push into the burgeoning U.S. offshore wind sector, its chief executive said.EnBW has already formed a joint venture with project developer Trident Winds to cater the U.S. west coast but is so far working alone on the booming east coast…
Germany's Innogy is likely to sell a stake in its Sofia offshore wind project in Britain, once a subsidy is secured, the company's chief operating officer for renewables said.Innogy plans to enter the 1,200 megawatt Sofia project into Britain's next offshore wind subsidy auction in May…
The Carbon Trust's Offshore Wind Accelerator (OWA) issued a Request for Information (RFI) on the potential to reduce emissions and fuel consumption in offshore vessels. OWA plans to start a new industry competition next month.The RFI is the…
The Chinese province of Jiangsu has approved 24 offshore wind power projects with a total capacity of 6.7 gigawatts (GW).The country's state press agency Xinhua reported citing sources with the State Grid Jiangsu Electric Power Company that the newly approved projects…
The New Jersey Economic Development Authority (NJEDA) announced that companies making a capital investment in offshore wind-related facilities in New Jersey can now apply for tax credits through the state’s Offshore Wind Tax Credit Program.According to NJEDA…
RWE, which will become the world's No.2 offshore wind player following a deal to break up its Innogy unit, could spend about 2.5 billion euros ($2.8 billion) a year to expand its renewables business, its chief executive said.'We can fund about 1…
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