Sources say RPT-BP is considering selling a minority stake in the offshore wind business.
Four sources familiar with the matter have confirmed that BP may sell a minority stake of its offshore wind division. This is the latest move by CEO Murray Auchincloss in his efforts to reduce the company's focus towards renewables. Shareholders have been putting pressure on the company to abandon its 2020 energy transition strategy as profits from renewables are decreasing and margins for oil and gas are increasing. Sources…
Sources say that BP is considering selling a minority stake in the offshore wind business.
Four sources familiar with the matter have confirmed that BP may sell a minority stake of its offshore wind division. This is the latest move by CEO Murray Auchincloss in his efforts to reduce the company's focus towards renewables. Shareholders have been putting pressure on the company to abandon its 2020 energy transition strategy as profits from renewables are decreasing and margins for oil and gas are increasing. Sources…
Sources say that BP is considering selling a minority stake in the offshore wind business.
Four sources familiar with the matter have confirmed that BP may sell a minority stake of its offshore wind division. This is the latest move by CEO Murray Auchincloss in his efforts to reduce the company's focus towards renewables. Shareholders have been putting pressure on the company to abandon its 2020 energy transition strategy as profits from renewables are decreasing and margins for oil and gas are increasing. Sources…
The UK has committed up to $28.5 billion for carbon capture projects
The government announced on Friday that it will invest up to 21.7 billion pounds (up to $28.5 billion) in 25 years for the development of carbon capture and storage technology to reduce emissions from energy, industry, and hydrogen production. Britain has set a target of achieving net zero emissions in 2050. CCS is needed to reduce emissions from industries that are energy-intensive and to create jobs. In a press release, Chancellor of Exchequer Rachel Reeves stated that "this game-changing technology" will bring 4…
Britain has pledged up to 21,7 billion pounds for cleaner energy
The government announced on Friday that it will invest up to 28.46 billion pounds (21.7 billion pounds) in the development of carbon capture and storage and hydrogen technology for northern England. Britain has set a target of achieving net zero emissions in 2050. CCS is needed to reduce emissions from industries that are energy-intensive and to create jobs. The Chancellor of Exchequer Rachel Reeves stated that "this game-changing technology" will create 4,000 jobs in communities in Merseyside, and Teesside.
Ithaca Energy joins Eni's North Sea Business
Ithaca Energy announced on Thursday that it had completed a deal worth 754 million pounds ($993 millions) to purchase nearly all the UK oil and natural gas assets of Eni. This was a 100% share transaction, which created one of the largest independent energy companies operating in the North Sea. Luciano Vasques was the former Eni UK Managing Director and CEO of the combined company. This move is part Eni's'satellite strategy'…
innogy Applauds Ireland's Offshore Wind Push
innogy Renewables Ireland, the joint developer of Dublin Array Offshore Wind Farm, has this week welcomed the announcement by Ireland's Minister of State, Damien English TD, of a clear road map for the development of offshore wind energy in Ireland. The government earlier this week announced the seven offshore wind energy projects that have been designated as Relevant Projects. These are offshore wind projects that either applied for or were granted a lease under the Foreshore Act 1933…
Geoquip Wraps Geotechnical Survey at Oriel Wind Farm Location
Offshore geotechnical firm Geoquip has completed a month-long geotechnical survey at the Oriel wind farm location offshore Ireland.This work complements last year’s geophysical survey campaign completed during August 2019 by Irish company Alpha Marine. "The data collected during these surveys is essential as it not only contributes to the foundation design but also to the future wind farm layout," offshore wind farm developer…
Jumbo Scores DEME Offshore Wind Contract
Jumbo has been awarded a contract to support DEME Offshore in its scope of work on Ørsted’s Hornsea Two offshore wind farm. Jumbo’s scope of work in the project is the provision of transportation for 165 monopiles from Rostock to Eemshaven and 135 transition pieces from Aalborg to Eemshaven with a K3000 class vessel.In addition to shipping the monopiles and transition pieces, the project will see Jumbo undertake the project management for the transport scope…
EU Targets 450 GW Offshore Wind by 2050
The EU Commission’s big goals for offshore wind – between 230 and 450 GW by 2050 – are achievable provided the right investments in electricity grids and Governments take the right approach to maritime spatial planning, said a report.According to the WindEurope report examines where 450 GW of offshore wind could be deployed most cost-effectively around Europe, bearing in mind there is only 20 GW today. 450 GW of offshore wind…
Orsted Reports Positive Start to 2019
Orsted on Wednesday reported higher first-quarter earnings from its offshore wind farms, in a positive sign for the Danish company's focus on renewables after selling its oil and gas business in 2017.Earnings from Orsted's core wind business rose 13 percent on the back of ramp-up in generation from the new farms Borkum Riffgrund 2 in the North Sea off the German coast and Walney Extension in the Irish Sea, the world’s largest…
World’s Largest Offshore Wind Farm Opens
The world's largest offshore wind farm will open on Thursday off the northwest coast of England when Danish energy group Orsted unveils the Walney Extension project.The wind farm has a capacity of 659 megawatts (MW), enough to power almost 600,000 homes, and overtakes the London Array off England's east coast which has a capacity of 630 MW.Walney Extension is made up of 87 turbines built by Siemens Gamesa and MHI Vestas, and covers 145 square kilometers (55 square miles), which is equivalent to around 20,000 football pitches.The
BP Awards Vroon Offshore Services Multi-Ship Contract
Vroon Offshore Services Aberdeen has been awarded a long-term contract with BP. Under the multi-million pound contract, Vroon Offshore will provide emergency response and rescue vessels (ERRVs) to support BP’s on-going and future operations in the North Sea and West of Shetland. The contract is for two years with the option to extend to five. Five modern, purpose-built ERRVs from Vroon Offshore’s versatile fleet of forty vessels will provide the service to BP.
PD&MS Group Wins $14m in Decommissioning Work
PD&MS Group secured a trio of contracts worth more than $14 million across three major North Sea late-life projects in the last six months. The latest award for the Aberdeen-headquartered company is a multimillion-pound contract from Spirit Energy to decommission the topsides on two of its unmanned Morecambe Bay gas field drilling platforms, located in the East Irish Sea. PD&MS is currently supporting similar decommissioning projects of North Sea installations for two major operators through offshore heavy lift contractor…
DONG, CWind Extend Crew Transfer Vessel Contract
CWind, a provider of services to the offshore wind industry, informs that DONG Energy, one of the key energy groups in Northern Europe, has granted CWind a two-year extension to its existing three-year Crew Transfer Vessel contract at the West of Duddon Sands Offshore Wind Farm in the Irish Sea. CWind, the offshore power focused business of Global Marine Group (GMG), will provide vessels for Operations & Maintenance (O&M) to the 108-turbine West of Duddon Sands site…
Centrica to Raise Morecambe Bay Gas Production
British utility Centrica will spend 60 million pounds ($77 million) to unlock an extra natural gas reserves from fields under the East Irish Sea, it said on Wednesday, helping to ease a potential shortage next winter. The project to produce the extra three billion cubic feet (bcf) will simplify the process to bring gas from offshore to the North Morecambe terminal and start later this month, Centrica said on Wednesday. It will last for nine months, with the rig campaign completed in February next year, a company spokesman said.
Sparrows Lands Crane Repair Work
Sparrows Group has been awarded a contract to fully refurbish two offshore cranes for Centrica in the East Irish Sea. The 27-year-old cranes are sited on the Morecambe field’s DP6 and DP8 platforms off the coast of Lancashire and Cumbria. Centrica announced it is set to invest up to £60 million to completely refurbish both platforms and boost overall production at Morecambe Bay. Crossing a range of engineering disciplines, the…
DONG Invests in Wind Turbine Towers Factory
Denmark's DONG Energy has made a multi-million pound investment in a Scottish factory making offshore wind turbine towers which is now owned by Korea's CS Wind, it said on Thursday, in return for exclusive access to supplies. The factory in Campbeltown will be the first in Britain to make such towers and DONG Energy said it will use them in the expansion of its Walney offshore wind farm in the Irish Sea and its Hornsea Project One farm in the North Sea.
World's Largest Wind Turbines Installed off UK Coast
Dong Energy has installed the first of the world's largest wind turbines, which are taller and wider than the London Eye, at its Burbo Bank windfarm off the coast of Britain in the Irish Sea, it said on Thursday. The 32 turbines, made by Vestas, will each be able to generate 8 megawatts (MW) of electricity, stand 195 metres tall from sea level and have a rotor diameter of 164 metres. "This will be the first commercial deployment of the world's largest wind turbines…
Seacat Services Secures Burbo Bank Charter Deal
DONG Energy has awarded offshore energy support vessel operator Seacat Services with the supply contract for all crew transfer services at its 258MW Burbo Bank Extension project under development in the Irish Sea. The four-vessel charter contract, with durations of three to 11 months, is the second such agreement signed between Seacat Services and DONG Energy in 2016, following the confirmation of a four-workboat construction support deal for the Race Bank Offshore Wind Farm in April.
