Reuters News

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U.S. to send envoy to Saudi Arabia to Stabilize Oil Prices

said on Twitter that he spoke with OPEC Secretary General Mohammad Barkindo about an international deal "to ensure economic stability as we recover from" the coronavirus outbreak. Sitton said Barkindo was "kind enough to invite me to the next OPEC meeting in June."Barkindo told Reuters that he and Sitton discussed their "perspective on current developments, and the possibility of future cooperation" in a teleconference. Barkindo and OPEC ministers have, in the past, met with shale-industry executives at annual conferences.A senior State Department official said the federal

Japanese Wind Fans Bank Interest

pricing does not really reflect the high risks of those long-tenor and non-recourse PFs, let alone cover our funding costs.”“In addition, with the market growing so quickly, our liquidity is stretched and we can only lend to those wind-farm PFs with better returns,” the banker said.(Reuters reporting By Wakako Sato and Evelynn Lin; Editing by Chien Mi Wong and Steve Garton

(Photo: Heerema Marine Contractors)

Vineyard Wind to Miss Startup Target Over Permit Delay

longer expected," Vineyard Wind Chief Executive Lars Pedersen said in a statement.Vineyard Wind is a joint venture between Copenhagen Infrastructure Partners and Avangrid Inc.The project, 14 miles (23 km) off the Massachusetts coast, has experienced several delays already over concerns https://www.reuters.com/article/us-usa-wind-fishing-exclusive/exclusive-first-big-us-offshore-wind-project-hits-snag-due-to-fishing-industry-concerns-idUSKCN1UO0EK that its wind turbines will impact commercial fishing and navigation. The Department of Interior has said it needs time to study the impacts of such projects

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Europe's Wind Industry Needs More Sea Space

; - adding no greenhouse gases to the atmosphere beyond what can be absorbed - by 2050."Today we have 20 gigawatts (GW) of offshore wind in Europe and the European Commission, not the industry, is saying we need to have between 230 and 450 GW by 2050," WindEurope CEO Giles Dickson told Reuters, pointing to EU calculations from 2018.With only 20 GW of offshore wind installed in Europe, annual installations would need to accelerate sharply from today's 3 GW per year.However, one key hurdle is finding space for new wind farms as at least 60% of the North Sea is not available due to exclusion

Visakhapatnam port is a second largest port by cargo handled in India. (Image Credit: AdobeStock / © SNEHIT)

India's Ports on Alert for 'Underwater' Attacks

commandos have entered Indian waters to carry out underwater attacks on port facilities.The Mundra Port, run by Adani Ports and Special Economic Zone Ltd, and the state-owned Kandla Port had asked their employees and ship operators to be vigilant, port officials and the ports said in advisories seen by Reuters.Tensions between India and Pakistan have escalated since India revoked the special status of its portion of the Himalayan region of Kashmir on Aug. 5 and moved to quell objections by shutting down communications and clamping down on local leaders.Pakistan reacted with fury to India's decision

Swedish icebreaker Oden (Photo: University of Rhode Island)

Scientists Find Micro Plastic in Arctic Ice

at the University of Rhode Island, who conducted an initial onboard analysis of the cores."When we look at it up close and we see that it’s all very, very visibly contaminated when you look at it with the right tools -- it felt a little bit like a punch in the gut,” Strock told Reuters by telephone on Wednesday.Strock and his colleagues found the material trapped in ice taken from Lancaster Sound, an isolated stretch of water in the Canadian Arctic, which they had assumed might be relatively sheltered from drifting plastic pollution.The team drew 18 ice cores of up to 2 meters

Courtesy PGS

PGS Calls off Debt Refinancing, Shares Fall

and reopening of capital markets," Omsted added.PGS said it was not currently contemplating a share issue."We will of course evaluate all possible structures, but at the moment we don't consider conducting a share issue as part of a future refinancing," PGS spokesman Stenberg told Reuters.The company said it intended to refinance the debt facilities this year, and reduce its net debt as it expected to generate positive cash flows helped by an expected market recovery.PGS has previously said it targeted a debt level of below $500-600 million, while its interest bearing net debt stood

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Floating Wind: Norway Seeks to Expand

having with interested parties was at a discussion level at this stage, without any applications submitted.Utsira North could hold a power producing capacity between 0.5-1.5 GW, while North Sea II, a bigger block, could hold turbines with a total capacity of 1-2 GW, the ministry's statement showed.(Reuters

(Photo: Subsea 7)

Subsea 7 Raises Revenue Outlook

2018," Chief Executive Jean Cahuzac said in a statement, adding that demand for equipment such as subsea umbilicals, risers and flowlines (SURF) was increasing."We continue to experience a gradual volume-led recovery in integrated and stand-alone SURF projects," Cahuzac said.Analysts in a Reuters poll had expected Subsea 7's revenue to decline by 6 percent this year to $3.83 billion.Earnings before interest, tax, depreciation and amortization (EBITDA) excluding one-offs rose to $111 million from $103 million a year earlier, but missed the $129 million expected by analysts polled by Reuters

(Photo: Aker Solutions)

Aker Solutions Raises 2019 Forecasts

, with its underlying core profit margin also rising year on year.It had previously expected only a slight revenue gain and flat margins.Order intake for the first three months of the year amounted to 5.5 billion Norwegian crowns ($635.51 million), above an average forecast of 4.9 billion crowns in a Reuters poll of analysts.Earnings before interest, tax, depreciation and amortization (EBITDA) excluding one-offs rose to 636 million crowns from 384 million crowns a year earlier, beating a forecast of 615 million crowns.Shares in Aker Solutions rose 2.8 percent by 0942 GMT.The company is currently bidding

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