One of the biggest offshore wind developers in Europe, a Danish company called Ørsted, purchased US offshore wind developer Deepwater Wind on Monday. The move suggests confidence in an expanding US offshore wind industry. Further ReadingNew York approves a 90 MW wind farm off the coast of Long IslandThere are more than 15 gigawatts (GW) of offshore wind in Europe, with more capacity being added every year. But in the US, only one commercial offshore wind installation currently generates power: Deepwater Wind's 30 megawatts (MW) pilot project off Block Island, Rhode Island. Still, the Atlantic Coast is seen as fertile ground for an expanding offshore wind industry, as the coastal area is near huge population centers with strong, reliable ocean breezes. Consequently, contracts for bigger offshore wind installations off Massachusetts and New York have been signed in the previous year. But Ørsted had trouble landing some of these bigger contracts, according to The Wall … [Read more...] about European offshore wind giant buys US’ most successful offshore wind company
Oil and gas companies
The Citgo Petroleum Corporation headquarters are pictured in Houston, Texas, U.S., February 19, 2019. REUTERS/Loren Elliott (Reuters) - Citgo Petroleum Corp, the U.S. refining unit of Venezuelan state-owned oil company PDVSA, on Friday reported a 76.2% rise in profit for the third quarter, compared with the second, benefiting from increased capacity. Total refinery throughput in the latest reported quarter increased 14.3% to 825,000 barrels per day (bpd) from the preceding quarter, with utilizing rate of 94%. The eighth-largest U.S. refiner by capacity ousted its chief and other top executives earlier this year and severed dealings with PDVSA after Washington levied sanctions intended to force socialist President Nicolas Maduro from office. Some PDVSA creditors expect Citgo to help pay off PDVSA debts that have Citgo shares as collateral. Creditor court actions are threatening the refiner’s assets since the parent company’s bonds defaulted earlier this year. But … [Read more...] about Citgo quarterly profit jumps on boost from higher refining capacity
Danish Ambassador to Russia Carsten Sondergaard has stated that the nation’s companies are interested in the Northern Sea Route (NSR), with the country itself recognising its importance not just for Russia, which is developing it, but also beyond. "This is a vast region worth investing in. [...] Of course, we understand that and see the prospects for the further development of this part of the world. But it is important that everything that happens in the region remains transparent and predictable. The market requires this for the Northern Sea Route", Sondergaard said. Speaking of transparency, the diplomat referred to new rules that Russia has applied to international shipping in the Northern Sea Route – all military vessels must notify of their passage in advance, while civilian ships not built in Russia need to receive permission from the government to use the route. He said that the matter needs to be addressed in the Arctic Council. Business Opportunities for Denmark … [Read more...] about How Might Denmark, Other NATO States Profit From Russian Northern Sea Route by Ignoring US Policies?
(CNN)Joe Biden grew visibly frustrated with an audience member at a campaign event on Thursday, calling the man a liar and challenging him to a push-up contest when the man asked about his son and said the former vice president was too old. The audience member, who asked the question during a stop on Biden's Iowa bus tour in New Hampton, accused Biden of "selling access to the President," referring to Biden's son, Hunter, who served on the board of a Ukrainian gas company while his father was vice president. Hunter Biden said recently he used "poor judgment" in serving on the board while his father was pushing anti-corruption measures in Ukraine on behalf of the US government, but added that he didn't do anything improper. There is no evidence of wrongdoing by either Joe or Hunter Biden. The man accused Biden of sending his "son over there, to get a job and work for a gas company, that he had no experience with gas, nothing." "You're a damn liar, man, that's not true," Biden … [Read more...] about ‘You’re a damn liar’: Biden has heated exchange with audience member on Ukraine, his age
TRIPOLI, (Reuters) - Libya’s Brega Petroleum Marketing Company (BPMC) said on Saturday it had suspended operations and evacuated all staff from its Tripoli warehouse because of the intensity of clashes and shelling in the city. Brega, which is owned by state oil firm NOC and in charge of fuel supplies, said in a statement it “was forced to activate the complete evacuation plan in order to ensure the safety of its employees.” It said fuel supplies were not immediately affected by the evacuation, without giving further details. Heavy artillery could be heard in Tripoli’s city center on Friday. The eastern-based Libyan National Army (LNA) of Khalifa Haftar launched an offensive in April to take control of Tripoli, home to an internationally recognized government of national accord. Libya has been divided between rival factions based in Tripoli and the east since 2014, and has not had a stable central government since a NATO-backed uprising overthrew Muammar … [Read more...] about Libya’s Brega operations suspended in Tripoli due to nearby clashes: statement