The Top 10 Offshore Wind Energy Trends to Watch in 2023
The drivers for global offshore wind growth look good for 2023. Global offshore wind is forecast to grow from over 60 GW at the end of 2022 to 240 GW by 2030 and over 410 GW by 2035. But the sunny outlook must be balanced with some building dark clouds.
Demand Grows for OSVs in the Offshore Floating Production and Storage Energy Sector
Over the last year we have seen an upswing in floating production and storage systems ordering after many years of low activity. According to our colleagues at World Energy Reports, “The global oil and natural gas markets are contending with…
Intelatus: The long-tenured, New Name in Market Intel & Planning
Intelatus Global Partners is a new name in energy, marine and industrial market analysis and strategic planning, a ‘new name’ with nearly 50 years of experience and proven results.Founded by the merger of International Maritime Associates (IMA) and World Energy Reports (WER)…
World’s Biggest Floating Wind Turbine Readies
The largest floating wind turbine in the world, an 8.4-megawatt (MW) ABS-classed offshore wind turbine, is about to be installed.ABS has classed the semi-submersible floating wind turbine is the first of three classed by ABS and designed by…
Industrial Internet to Help Upstream Sector
There has been a growing interest among oil and gas companies in adopting the Industrial Internet to improve sustainability and market competitiveness, said a study.According to data and analytics company GlobalData the upstream sector is witnessing…
Penman to Head up Malin React
Newly launched Malin Group arm Malin React has appointed Graham Penman as a Business Unit Manager to head up its operation.Penman has been appointed to oversee Malin React, one of seven subsidiary brands which make up Malin Marine Limited, formally Malin Marine Consultants Aberdeen.
Qatar to Invest USD 20 bln in US Energy Sector
Peninsular Arab country Qatar has said that it plans to invest more than $20 billion in the US energy sector over the next five years.According to a report in Reuters, minister of state for energy affairs of the energy-rich Qatar Saad Sherida Al-Kaabi…
ClearWELL Scales Up North American Presence
Flow assurance and scale control specialist, ClearWELL Oilfield Solutions, has strengthened its U.S. presence with the appointment of two key positions.Brian Gaudin and John Simonson join the company as Director, Business Development and Business Development Manager, respectively.
HEECO Eyes New Markets for Expansion
The Humber Electrical Engineering Company (HEECO) in the United Kingdom has consolidated its marine presence and developed into new oil and gas markets.The Hull-based electrical manufacturing business is known for the design and build of switchboards…
Saudi Concerned About Risks with NY IPO for Aramco
Saudi Arabia has concerns about the risks that oil giant Aramco would run by choosing New York as the venue for its $100 billion market listing, Energy Minister Khalid al-Falih said in an interview with CNN. "I would say litigation and liability are a big concern in the U.S.…
Oil Tops $50, Lifting Commodity Stocks
Brent oil tops $50/barrel first time in nearly 7 months. Brent crude oil topped $50 a barrel for the first time in nearly seven months on Thursday, lifting commodity and energy-related shares in Europe and Asia, though worries about U.S. interest rates and signs of slowdown in China limited gains.
Ulstein Group Records Operating Loss of $11.5M
In 2015, Ulstein Group recorded revenues of $279.4 million and an operating loss of $11.5 million. The business areas Design & Solutions and Power & Control both recorded profits. The downturn in the offshore sector and a tricky market has to be met with adaptation and innovation…
Qatar to Pass Law on Public-Private Partnerships
Qatar aims to enact a law covering the use of public-private partnerships (PPPs) by the end of 2016, part of efforts to boost its fledgling private sector and ease the strain on government finances caused by low oil prices. Qatar's ministry…
Roxtec Safety Seals for Offshore O&G
Roxtec is targeting the marine and offshore oil and gas sectors with a new innovative safety seal which protects life and assets from a multitude of hazards. The firm’s Single Pipe Metal (SPM) product can be used to seal any kind of metal pipe…
Pemex CEO Lozoya to Leave Job
Emilio Lozoya is set to leave his job as the chief executive of Mexico's struggling state-oil company Pemex, according to three sources with knowledge of the situation. Lozoya, a close ally of Mexican President Enrique Pena Nieto, became Pemex CEO in December 2012…
Bibby Unit Orders SOV - Offshore Wind
On January 15, Bibby Marine Services Limited, part of Bibby Line Group, signed a contract with the Damen Shipyards Group for delivery of its first Service Operations Vessel (SOV) with walk-to-work access. The vessel, Bibby WaveMaster 1, will undertake offshore wind project work in the North Sea.
Oil Up After U.S. Crude Stocks Drop
Oil prices rose on Wednesday, underpinned by an unexpected fall in U.S. crude inventories, but were still close to multi-year lows as supplies remained abundant and as OPEC lowered the demand outlook for its exports. At 1448 GMT, Brent crude futures were up 87 cents at $36.88 a barrel…
Draegerwerk to Buy Norwegian Gas Sensor Maker
German medical technology group Draegerwerk said on Tuesday it had agreed to buy GasSecure, a Norwegian maker of wireless gas detectors, for between 55 million and 60 million euros ($59.2-64.6 million). Draegerwerk said it was buying the shares from venture capital companies and GasSecure employees.
Brightoil Reports Steady Growth in Interim Results
Brightoil Petroleum (Holdings) Limited announced its interim results for the six months ended December 31, 2014, reporting steady growth over the period. During the period, profit attributable to the owners of the group increased 3% year-on-year to HK$561 million.
SMC to Provide Marine Coordination for Siemens
Specialist Marine Consultants Ltd (SMC) have been working with Siemens, providing offshore marine coordination for a fifth Siemens Wind Power construction project. The Butendiek offshore wind farm in the North Sea began construction in early 2014, and is due for completion mid-2015.
