Finance News

Chevron Corporation (NYSE: CVX) has announced an expected organic capital expenditure range of $15.5 to $16.5 billion for consolidated subsidiaries (capex) and an affiliate capital expenditure (affiliate capex) budget of approximately $3 billion for 2024.

Offshore Wind's Economic Doldrums

Today's key economic doldrums plaguing offshore wind projects are higher interest rates, cost inflation, and supply chain issues. Developers make multiyear cost assumptions when bidding for projects, given the often decade-long lead times associated with planning and development, obtaining approvals, and completing construction, before an offshore wind project becomes operational and starts generating cash returns.

Floating Power Plant, a Danish pioneer in renewable energy technology, has just signed a transformative grant agreement with the European Commission's Innovation Fund of 26 m€. This agreement solidifies the EU's commitment to propel Floating Power Plant’s flagship project, SEAWORTHY, into the forefront of sustainable energy innovation.

Copenhagen-based Danelec, a technology provider specializing in maritime safety and sustainability, and a global leader in ship data management solutions that drive efficiency and safety at sea, has highlighted record growth in its just published 2022/23 annual report, with topline up from 168M DKK last year, to 298M DKK.

SBM Offshore and ExxonMobil Guyana Limited, an affiliate of ExxonMobil Corporation, have completed the transaction related to the purchase of FPSO Liza Unity, a few months ahead of the end of the maximum lease term, in February 2024.

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