offshore wind Archives - Oil & Gas 360

U.S. deal ends TotalEnergies offshore wind plans, accelerates LNG investment

March 24, 2026

(World Oil) – TotalEnergies has agreed to relinquish its U.S. offshore wind leases under a settlement with the Department of the Interior, redirecting capital toward LNG, gas production and export infrastructure. The company will exit the Carolina Long Bay and New York Bight leases, both awarded in 2022, effectively ending its offshore wind development plans in the United States. Under the agreement,

US pauses leases for five offshore wind projects over radar concerns

December 22, 2025

(Investing)– The Trump administration on Monday said it suspended leases for five large-scale offshore wind projects that are being built off the U.S. East Coast over concerns they would interfere with military radar systems. The suspension marks the latest blow for offshore wind projects that have faced repeated disruptions under U.S. President Donald Trump, who has said he finds them

Germany scales back offshore wind auctions after latest flop

December 5, 2025

(Oil Price) – Germany moved to reduce the capacity it will auction in its offshore wind tender in 2026, following the flop in the latest auction without a single bid made. The German Parliament approved legislation narrowing the capacity in the 2026 tender to just 2.5 gigawatts (GW) to 5 GW, compared with an earlier plan of auctioning off 6 GW of offshore

AI-powered WindSafe™ platform achieves first-of-its-kind deployment

June 12, 2025

(World Oil) – This first-of-its-kind deployment signals a step change in how safety and operational assurance can be managed in offshore wind, with WindSafe™ introducing real-time visibility, predictive analytics, and intelligent automation to enhance performance and reduce risk at scale. Developed by Fennex, an award-winning Aberdeen-based digital technology company, WindSafe™ was purpose-built to address the evolving challenges of high-risk offshore

Offshore wind in Sweden needs support, government body says

December 13, 2024

Yahoo Finance – Sweden has cancelled 13 planned offshore wind farms in the Baltic Sea on security grounds. The government in Stockholm, a new NATO member, announced on Monday that it would no longer issue any licences for the construction and operation of the farms, which were to extend off the Swedish east coast down to the Öresund strait near Denmark.

BP merges offshore wind business in $5.8 billion joint venture with JERA

December 9, 2024

(Oil Price) – BP has decided to merge all its offshore wind business into a new joint venture with Japan’s energy firm JERA, to which the companies will provide up to $5.8 billion for investments by 2030, the UK-based supermajor said on Monday as it shifts its focus back on oil and gas. BP has been seeking for months to offload spending

North Star lands commissioning SOV contract, key role in Europe offshore wind work

October 15, 2024

(World Oil) – North Star has secured its first contract for a commissioning service operation vessel (CSOV), a second award with EnBW, further establishing the company’s growing presence in the European offshore wind sector. This award for the newbuild Grampian Kestrel CSOV (of VARD 4 22 design), will precede the decade-long minimum charter contract the firm signed in February to

Offshore wind industry growth falling short of net zero goals

June 29, 2022

Nasdaq The global offshore wind industry had a record year in 2021 in terms of new capacity but is still projected to fall short of the International Energy Agency’s net zero goals by 2030, a Global Wind Energy Council (GWEC) report said on Wednesday. More giant offshore turbines were installed in 2021 than in any previous year, with 21.1 gigawatts

Offshore wind powerhouse Siemens Gamesa sees its value nearly halve in a year

February 3, 2022

CNBC Siemens Gamesa Renewable Energy has cut its guidance for the coming year after a turbulent period that has seen its market capitalization nearly halve. The wind turbine manufacturer on Thursday said it continued to be “challenged by market dynamics,” as supply chain disruptions weighed on results. Between October and December 2021, the company said revenue fell to 1.83 billion euros

Big Oil’s move to offshore wind risks inflating seabed prices – Orsted

June 21, 2021

Reuters COPENHAGEN – The world’s largest offshore wind developer Orsted ORSTED.CO is concerned that Big Oil’s eagerness to harness wind at sea could push up prices for seabed leases, making the technology less competitive, its chief executive told Reuters. European oil firms including Total TOTF.PA, BP BP.L, Equinor EQNR.OL and Shell RDSa.L have all outlined plans to speed up investments in renewables, including offshore wind, as

Orsted plans $57 billion drive to be No.1 in green energy

June 2, 2021

Reuters COPENHAGEN -Orsted, the world’s largest offshore wind farm developer, is ramping up its investment in renewables to $57 billion by 2027, seeking to become a global leader in green energy and fend off growing competition. The Danish firm, which sold its oil and gas business in 2017, has benefited hugely from policies to implement the 2015 Paris Agreement, a

Banking on the Biden boom: Siemens Energy pins hopes on U.S.

April 9, 2021

Reuters FRANKFURT – German engineering group Siemens Energy wants its slice of the $2.3 trillion U.S. President Joe Biden plans to spend on infrastructure, including power grids and renewables, as the company targets higher sales in its biggest market. “We see great opportunities for wind energy, onshore but above all in the area of offshore,” Tim Oliver Holt, who is

Premium Content