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Today, Ørsted’s Board of Directors approved the interim report for the first half year of 2022. Operating profit (EBITDA) for the first half of the year amounted to DKK 13.0 billion, in line with the same period last year. EBITDA excluding new partnerships increased by 48 % to DKK 11.4 billion. Net profit amounted to DKK… Read More
DEME Offshore has successfully installed the offshore substation of the Fécamp offshore wind farm, deploying ‘Orion’, the newest member of the DEME fleet and the most innovative vessel in the offshore wind industry. ‘Orion’ has now installed the 1,300-tonne jacket and the 2,200-tonne topside, completing the project on schedule on August 11. Just four months… Read More
California policymakers approved the most ambitious offshore wind target this afternoon when the California Energy Commission (CEC) set a goal to deploy 25 GW of power generation by 2045. The planning goal came as the result of AB 525, signed into law last year, which directed the commission to “evaluate and quantify the maximum feasible capacity of… Read More
Legislation that started life as “The Build Back Better Act” is now headed for likely passage by the House as “The Inflation Reduction Act” and there looks to be a lot in it for the U.S. offshore industry. “The Senate’s passage of the Inflation Reduction Act is a watershed moment in America’s renewable energy transition…. Read More
Rising energy prices along with a cascade of climate impacts due to continued fossil fuel emissions need immediate action. California is the world’s fifth largest economy — we can and must do better. It’s time to take action and accelerate the state’s transition to a 100% clean energy economy. Responsible offshore wind development will be… Read More
State regulators on Friday approved an application from Dominion Energy Virginia to build an enormous offshore wind farm off the coast of Virginia Beach and recover the cost from ratepayers. No parties to the monthslong proceeding had opposed the approval of the project, which will help the utility boost the proportion of its generation that… Read More
Listed offshore and marine player Kim Heng posted its first set of positive results since 2016, thanks to an improving operating environment, gains from sale of assets and higher government grants. The company reported on Monday (Aug 8) a net profit of $5.07 million for the six months to June, reversing a net loss of… Read More
EMAR Offshore Services BV, the independent maritime services company based in Raamsdonksveer, the Netherlands, has bought two Damen Fast Crew Suppliers (FCS) 2206. With both vessels already in stock one, named E-Six, has already begun operations in Angola supporting the local oil and gas industry, and will be joined by E-Seven shortly. The 22-metre Damen FCS 2206 is a… Read More
Acorn International, a worldwide environmental and risk management consultancy with offices in Boston and Houston, today announced it was selected, to perform an Environmental Impact Assessment (EIA) and lead the public consultation program for the Uaru Project, the fifth offshore development project in Guyana of Esso Exploration and Production Guyana Limited (EEPGL), an affiliate of ExxonMobil…. Read More
Houston-based Tidewater Inc. (NYSE: TDW), owner and operators of the world’s largest fleet of offshore support vessels, says this year has marked an inflection point for the industry as key metrics point to better times ahead. Tidewater this week announced its second quarter and first half financials showing revenue at $163.4 million and $269.2 million, respectively, compared… Read More
Uncrewed offshore survey and inspection company Nauticus Robotics has reached an agreement with Shell on a program to develop and mature its systems for inspecting subsea infrastructure. Working with inspection tooling service providers, Shell and Nauticus will work on operational qualification for Nauticus’ Aquanaut and Hydronaut autonomous platforms. Nauticus has ordered an initial production run… Read More
On Sunday, Senate Democrats passed a large-scale budget reconciliation package on a party-line vote, enacting many (but far from all) of the Biden administration’s climate policy priorities. The bill – which was recently rebranded as the Inflation Reduction Act – represents a compromise between the party’s leadership and Senator Joe Manchin III (D-WV), who negotiated reductions… Read More
The federal Bureau of Ocean Energy Management extended the deadline for public comment on the environmental impacts of an offshore wind project after facing complaints 45 days was not long enough to review the 1,408-page impact statement. Some Jersey Shore residents, environmentalists and politicians pushed the bureau to extend the timeline for public input on… Read More
The world’s first subsidy-free offshore wind farm, the 1.5GW Hollandse Kust Zuid located off the coast of the Netherlands, has begun generating electricity and feeding it into the Dutch electricity grid. Swedish power company Vattenfall won the right to build all four allotments in the Hollandse Kust Zuid (HKZ) offshore wind zone in 2018 and… Read More
The State Corporation Commission (SCC), which regulates public utilities, recently approved a new Dominion Energy-backed $9.8 billion offshore wind farm, the Coastal Virginia Offshore Wind Project (CVOW), 27 miles off the coast of Virginia Beach. Unsurprisingly, Virginia ratepayers will pay more to “transition” away from fossil fuels as stipulated by the 2020 Virginia Clean Economy Act—Virginia’s “Green New Deal”… Read More