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You are here Home - Oil & Gas News - Equinor and bp complete US offshore wind transactions and formation of strategic partnership Equinor and bp complete US offshore wind transactions and formation of strategic partnership Submitted by Anonymous on 29th January 2021 29th January 2021 Equinor and bp have completed their previously announced transaction, whereby Equinor has sold a 50% interest in both the Empire Wind and Beacon Wind assets on the US east coast for a total cash consider...

BP announces fourth quarter and full year 2020 results 02 Feb 2021 BP has announced fourth quarter and full year 2020 results. The full-year result was a loss of $5.7 billion compared to $10 billion profit in 2019, driven by lower oil and gas prices, significant exploration write-offs and refining margins and depressed demand. Bernard Looney,chief executive officer, said: 2020 will forever be remembered for the pain and sadness caused by COVID-19. Lives were lost – livelihoods destroyed. Our ...

BP and Equinor today completed the formation of their strategic US offshore wind partnership. This includes BP’s $1.1 billion purchase from Equinor of a 50% interest in two major lease areas off the US East Coast. The new partnership will develop up to 4.4GW through two projects – Empire Wind and Beacon Wind – and together pursue further growth in the US offshore wind market. The completion of the partnership follows the recent success of the Empire Wind 2 and Beacon Wind 1 projects in ...

Norwegian and British oil multinationals Equinor and BP have sealed their previously announced strategic offshore wind partnership, as part of which BP paid $1.1 billion for a 50% non-operating stake in Equinor's Empire Wind and Beacon Wind projects off the coasts of New York and Massachusetts

Equinor and bp form US offshore wind partnership It comes as the two companies completed their previously announced deal, whereby Equinor sold a 50% interest in both the Empire Wind and Beacon Wind assets on the US east coast Image: BP Equinor and bp are combining their strengths to enable profitable growth in the offshore wind industry in the US with the formation of a strategic partnership. It comes as the two companies completed their previously announced deal, whereby Equinor sold a 50% i...

Share this article Norway’s Equinor says it has closed its previously disclosed agreement with BP to sell 50 percent stakes in its Empire Wind and Beacon Wind projects, located offshore Massachusetts and New York, respectively, for $1.1 billion. The transaction is the first step in Equinor’s strategic partnership with BP in the burgeoning U.S. offshore wind market. The agreement also marks BP’s first venture into offshore wind as the petroleum giant transitions its business to include mor...

Advertisement bp and Equinor have completed the formation of their strategic US offshore wind partnership. This includes bp’s US$1.1 billion purchase from Equinor of a 50% interest in two major lease areas off the US East Coast. The new partnership will develop up to 4.4 GW through two projects – Empire Wind and Beacon Wind – and together pursue further growth in the US offshore wind market. The completion of the partnership follows the recent success of the Empire Wind 2 and Beacon Wind ...

As East Hampton prepares the final agreements to allow the South Fork Wind Farm cable to come ashore in Wainscott, the future of offshore wind off Long Island’s coast has become much more crowded. Two massive offshore wind farms with more than 90 turbines each, to be built by the firm Equinor, received approval from New York State in early January, Governor Andrew Cuomo announced in his State of the State Address Jan. 13. They include the Empire Wind 2 project 20 miles offshore from Jones Bea...

Blog PODCAST PODCAST Blog 26 Jan, 2021 Author Yannic Rack Total and SunPowers 75-MW solar plant in Prieska, South Africa, one of the largest in the country. Source: Total/Laurent Zylberman Total SE has pulled ahead of the competition in reinventing itself as a broader energy company, deepening its push into renewable energy by buying up companies and assets at a much faster pace than any of its peers in the oil and gas industry. The company struck a $...

Kaua‘i Island Utility Cooperative to Develop Solar + Pumped Storage Hydro Project On 7 January 2021, Kaua‘i Island Utility Cooperative (KIUC) signed agreements with The AES Corporation (AES) for the development, construction, and operation of the KIUC’s solar pumped storage hydro project (the “West Kaua‘i Energy Project” (WKEP)). A power purchase agreement was also executed and filed with the Hawai‘i Public Utilities Commission on 31 December 2020. WKEP will integrate pumped stora...