Category Archives: Offshore

The Noble Jim Day dwarfed the small tugboats pushing the hulking offshore oil rig down the Corpus Christi Ship Channel and out into the Gulf of Mexico.

The floating rig one of the worlds largest at 40,000 metric tons had been moored for five years in Port Aransas after its drilling contract with Royal Dutch Shell ended in 2016. When it was moved in early March, the rig wasnt going back into the Gulfs deep waters but to Turkey to be dismantled, its steel and other metals sold.

Scrapping rigs is not something we like to do, said a spokesman for Noble Corp., which owned the rig. As we re-evaluated our business and forward cash-flow potential after the utter collapse in energy markets last year, (Noble Jim Day) no longer met the test for keeping it in the fleet.

The rig named for a former Noble chief executive was built just 11 years ago and, like most, had another 20 years of reliable service ahead of it. But in the wake of the pandemic and the worst oil bust in decades, offshore companies are discarding ever newer rigs some less than a decade old and threatening hundreds of jobs.

The Gulf Coast, where most of the nations 60,000 offshore workers are based, is the center of the offshore industry, and Houston is home to some of the largest offshore operations, such as Transocean, Schlumberger and Halliburton.

2014: 15

2015: 30

2016: 23

2017: 30

2018: 22

2019: 11

2020: 22

2021: 5

TOTAL: 159

SOURCE: IHS Markit

Nobles rig was among 26 oil rigs scrapped since the start of the pandemic last March, including half in service for about 10 years, according to global energy research firm IHS Markit. By contrast, just two of the 69 rigs discarded during the 2014-16 oil crash were as new.

Weve reached a point where quite often we see rigs built in 2011 and 2012 scrapped, said Matthew Donovan, IHS Markits principal research analyst. Anything a decade old is now a candidate for scrapping.

Offshore companies have idled rigs, laid off hundreds of workers and, in some cases, sought bankruptcy protection to weather the global pandemic, which slashed demand for crude and petroleum products such as gasoline and jet fuel.

Even though oil prices have rebounded to above $60 a barrel, the outlook for the sector remains uncertain. Offshore oil is among the most expensive to produce globally, requiring massive upfront capital and many years to recoup the investment, making it less competitive than oil produced on land.

On HoustonChronicle.com: 'Not for the faint of heart': Oil bust lashes offshore industry still in recovery

Adding to the sectors troubles, demand for oil could start waning this decade, some analysts say, with the rise of electric vehicles and a societal shift from fossil fuels amid concerns about climate change. The Biden administrations climate policies, including a one-year moratorium on new offshore leases, has only added to offshores troubles. If producers cant get new leases to drill in the Gulf of Mexico, the pipeline of offshore drilling contracts will dry up.

In light of these challenges, its no surprise offshore companies are evaluating their fleets of rigs, scrapping those that are unlikely to secure a drilling contract after the pandemic ends, said Tom Kellock, IHS Markits director of offshore rig market consulting. In total, 159 floating rigs and drillships have been pulled from service since 2014.

They dont see a future for them, Kellock said, referring to companies that have scrapped rigs. Theres absolutely no point in hanging on to something that wont see work again at day rates that are attractive.

Transocean, the worlds largest offshore drilling contractor, has scrapped 61 rigs, more than half of its fleet since 2014. Houston-based Diamond Offshore has scrapped 22, Sugar Land-based Noble, 13; and U.K.-based Valaris, 8, according to IHS Markit data.

Over the past year, Noble scrapped four rigs that had been in operation for 11 years or fewer. In the same time, Valaris has scrapped five rigs in operation for a decade or less, including one after just eight years.

Transocean said it is now focused on offshore rigs that have deepwater and harsh environment capabilities. The Switzerland-based company owns or has partial ownership interests in 37 mobile offshore drilling units, including 27 ultra-deepwater rigs and 10 harsh environment rigs.

Certainly, moving forward, theres fewer and fewer ability or desire to keep those rigs warm, somewhat active, Roddie Mackenzie, Transoceans senior vice president of marketing, told analysts last year. So scrapping or retiring, it really is the name of the game.

Oil majors, such as Shell and Exxon Mobil, hire offshore companies to drill for and extract oil from reservoirs deep under the ocean. Producers pay daily rates to rent the crew and rigs.

When crude prices were over $100 a barrel, offshore drilling rigs commanded high daily rates that justified the construction of new rigs. Companies rushed to build floating rigs and drillships early in the last decade.

When crude prices crashed in 2014, 2018 and 2020, however, it made less economic sense to produce oil from expensive deepwater wells. U.S. oil production in the Gulf last year fell by 13 percent to 1.65 million barrels per day compared with 2019, the largest decline of any major American oil field on land or at sea, according to the Energy Department.

After producers cut short contracts or didnt renew them, offshore companies mothballed rigs and laid off hundreds of workers.

The number of floating rigs under contract worldwide has fallen to 110 from 261 in 2014, according to IHS Markit. There are 13 offshore rigs operating in the Gulf of Mexico, down from 19 a year ago, according to oil-field services firm Baker Hughes and research firm Enverus.

Seadrill, which in February filed for its second bankruptcy in four years, this month began laying off 162 workers on its West Neptune drillship after a contract ended in the Gulf of Mexico. The U.K.-based offshore company last summer laid off 135 workers on its Sevan Louisiana Rig and 168 workers on its West Auriga Rig, both in the Gulf of Mexico. Switzerland-based Transocean last year laid off a combined 220 workers on its Deepwater Asgard and Discoverer Inspiration Drillships in the Gulf of Mexico.

On HoustonChronicle.com: Deep-water drilling squeezed by oil busts, climate change fight

Even idled rigs cost about $4 million a year to maintain at port. And when rigs are called back into service, it can cost $50 million to $80 million to make them seaworthy again. The longer the rig is mothballed, the more it costs to reactivate it.

When the 2014-16 oil bust ended, offshore companies were hopeful they could put idled rigs back to work. But last years crash left them questioning if the cost of maintaining and reactivating idle rigs can be recouped with future production.

In order to justify spending $50 million to $80 million, you need pretty robust day rates, a Noble spokesman said.

Its a financial decision when it comes back, IHS Markits Donovan said. Youre looking at the market now and what it will be, and deciding is it worth it to keep it around?

Most retired rigs end up in large scrap yards in Asia; some are scrapped in Brownsville.

Others have found new life in different industries. SpaceX, for example, acquired two semi-submersible rigs last year from Valaris to convert into floating commercial rocket platforms. Some rigs end up being sunken to the ocean floor to be reused as marine life habitats.

Meanwhile, most scrapped rigs arent being replaced. There are 25 floating rigs under construction, according to IHS Markit, and few orders for new ones since 2014. One of the largest marine manufacturers, Singapore-based Keppel Corp., recently said it will exit the rig building business.

The longer the downturn lasts, the more pressure offshore companies will be under to keep scrapping rigs.

Selling rigs to a scrap yard is not a big money maker, Donovan said. Youre getting scrap prices.

paul.takahashi@chron.com

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Even new offshore rigs aren't immune to the pandemic oil bust - Houston Chronicle

Kris Ohleth

I have found great joy in devoting the past 15 years of my professional life to developing offshore-wind energy projects. Working in a field that brings clean energy, increases environmental progress, improves public health and boosts economic opportunity makes me proud to do what I do every day.

Thankfully, the majority of New Jersey residents agree with me, as poll after poll shows that offshore wind is very popular among New Jerseyans. With so many benefits, it is not surprising that a large majority of residents support offshore wind for the Garden State.

However, there is a vocal minority of part-time Jersey Shore residents who continue to make unfounded claims about offshore wind. They claim that it will harm the tourism economy in the Shore towns where they spend the summer. In response, I thought some of the clear facts and data would shed further light on the reality of offshore wind and tourism both domestically and abroad.

Lets start off the coast of Rhode Island, a significant recreational destination. Built in 2016, the Block Island Wind Farm is the only offshore-wind project that is visible from shore in the United States. A study published by the University of Rhode Island confirmed that tourism on Block Island where the turbines are easily within view actually increased the year after the wind farm was built. In fact, there was, on average, a 19% increase in occupancy rates upon completion of the wind farm.

A different study published by the University of Delaware in 2020 concluded that not only would beachgoers be indifferent to offshore wind farms that are more than five miles from shore, but also tourists may be interested enough to visit them. That means offshore-wind farms in New Jersey and elsewhere could potentially generate millions of curiosity trips, and the sightseeing revenue that comes with them.

There are other demonstrated benefits. The Block Island Wind Farm has already become a focal point for the regions recreational fishing community because it provides habitat for the base of the food web that attracts larger fish sought by locals and vacationers alike.

Overseas, where offshore-wind projects have been in operation since 1991, we see other case studies of wind farms adding to the tourist economies in coastal communities. For example, the Rampion Offshore Wind Farm in the United Kingdom comprises 116 turbines. Built in 2017, it is located just eight miles from the coast along the popular tourist town of Brighton. According to data from the British Tourist Authority, overnight visits to Brighton increased from 604,000 in 2017 to 615,000 in 2018, and then up again to 647,000 in 2019.

That is just some of the information we have about offshore wind and tourism. In most cases, it is abundantly clear that wind farms do not have a negative impact on tourism.

What clearly does increase with offshore-wind development is the opportunity for coastal economies to grow beyond the confinements of a seasonal hospitality industry. These sustainability projects bring an entirely new employment sector to the shore, offering coastal residents the chance to find a career in their hometowns. This would mean year-round work at the Jersey Shore in a growing field that will repower our nation with clean energy and more well-paying jobs.

Furthermore, coastal communities face the brunt of impacts from climate change. Sea-level rise is taking its toll. This is not only seen during storms anymore, but also as sunny day flooding continues to increasingly plague Shore towns. Offshore wind is the only renewable-energy resource that is ready to be deployed at a large enough scale to provide baseload and reliable power that can replace the electricity generation sources like coal and nuclear power that continue to be lost to a lack of economic competitiveness in New Jersey.

Offshore wind is being driven at the national level in a strong and bipartisan way, a trend started over a decade ago with the George W. Bush administration. Each administration since both Republican and Democratic helped advance this industry. The Biden administration is set to take our nations offshore-wind program to the next level, a once-in-a-generation opportunity to create sustainable energy infrastructure in our state. We cannot let this moment pass. Standing with the majority who want to do right by the environment and our economy makes me prouder than ever to be from the great state of New Jersey. I hope you will stand with us too.

Excerpt from:

Op-Ed: Offshore wind supports NJ coastal economies - NJ Spotlight

FILE PHOTO: The headquarters of the German power supplier RWE, which plans to break up subsidiary Innogy and share its assets with rival E.ON, is pictured in Essen, Germany, April 24, 2018. REUTERS/Wolfgang Rattay

FRANKFURT (Reuters) - RWE, Europes third-largest renewables group, has taken an investment decision on its 3 billion pound ($4.1 billion) Sofia offshore wind farm project, it said on Wednesday.

The 1.4 gigawatt project, to be located 195 kilometres from Britains North East coast, represents RWEs largest offshore farm and is expected to be completed by the fourth quarter of 2026.

Successfully developing a project of this size once again demonstrates our expertise and positive track-record for delivering cost effective, innovative offshore wind energy around the globe, said Sven Utermoehlen, Chief Operating Officer Wind Offshore Global, RWE Renewables.

Siemens Gamesa, the worlds largest maker of offshore wind turbines, will supply 100 of its 14 megawatt turbines for the project, RWE said.

($1 = 0.7290 pounds)

Reporting by Christoph Steitz; Editing by Madeline Chambers

See original here:

RWE to invest $4.1 billion in flagship UK offshore wind park - Reuters

Fishermen are denying allegations that they intentionally blocked a vessel conducting a survey for an offshore wind development project from doing its work earlier this week.

The survey vessel, Go Liberty, reported to marine law enforcement Monday that fishermen were blocking its path, preventing the ship from conducting a survey of a proposed cable path for the New England Aqua Ventus project, a one-turbine wind development project slated for the waters off Monhegan.

Maine Marine Patrol responded to the complaint but did not observe fishing boats blocking the vessels path, according to a Department of Marine Resources spokesperson.

On Wednesday, fishermen in the area received a notice that if they did not voluntarily remove their gear from the survey route, Marine Patrol will move the gear.

At least two lobstermen who crossed paths with the Go Liberty Monday said that while they are frustrated with the survey process, they were not trying to block the vessel Monday and were just trying to protect traps in the water.

Theyre making us out like were a bunch of bad people. But we just need to make a living, Friendship lobsterman Chad Burns said. People are trying to get gear away from [the vessel] when they see it coming.

Another lobsterman, Larry Reed of South Bristol, said he passed the Go Liberty from a safe distance Monday morning to make sure the vessel wasnt towing up the traps of family and friends that were near the ship. He then went on to tend to traps he had in the area, and claims the Go Liberty came within 30 yards of his boat, causing him to move his traps to make sure they werent towed up by the vessel.

I passed the vessel just to make sure they werent towing up my fellow fishermens gear and I proceeded. I did not stop, I did not harass, I made no gestures to them whatsoever, Reed said. I was doing my job which I am licensed to do and they have no right to tell me otherwise.

While its hard to determine exactly what transpired on the water Monday, whether it was unintentional or not, the fact remains the vessel had to stop for safety concerns, New England Aqua Ventus Spokesperson Dave Wilby said.

The alleged interference was the latest point of contention between the local fishing industry and the prospect of offshore wind development, which fishermen have been critical of in terms of how it could change the Gulf of Maine and potentially impact their livelihoods.

New England Aqua Ventus has contracted with two vessels to conduct a survey of the route that would bring a cable ashore from the turbine site near Monhegan. The survey includes an assessment of the seabed floor which will help New England Aqua Ventus determine where the cable can be buried so it will have the least impact on fishing practices in the area.

In order to conduct the survey, New England Aqua Ventus and the Maine Department of Marine Resources have asked fishermen to remove their gear from a 23-mile long path off the coast of Lincoln County for about four weeks. Since the Go Liberty drags sonar equipment, if it comes in contact with fishing gear like lobster traps damage can be caused to both the equipment and the gear.

[New England Aqua Ventus] made very extensive efforts to communicate the survey timing and location to the fishing community and other marine stakeholders weeks in advance of the start of survey activities, said Wilby.

While numerous notices were given to fishermen in the region leading up to the survey, which began earlier this month, about 254 lobster buoys were still in the path as of Monday, according to the Department of Marine Resources.

Both New England Aqua Ventus and state marine officials say too much gear remains in the route for the survey to be completed. On Wednesday morning, the Department of Marine Resources sent out a notice to fishermen with gear in the area reiterating the need for temporary removal.

Were asking for voluntary cooperation in terms of gear in the survey route, Maine Department of Resources spokesman Jeff Nichols said. We need cooperation from the industry.

However, if fishermen dont voluntarily move their gear, Marine Patrol will begin moving gear outside of the route so the survey can be completed within the next two weeks, according to the notice.

While many fishermen have moved their gear out of the path, Reed and others feel that it is unfair for New England Aqua Ventus to ask them to move out of their traditional fishing grounds for a project they do not agree with.

I dont feel that any fishermen should have to move for them to perform a demonstration that benefits only them. We have nothing to gain and a lot to lose from this project, Reed said.

New England Aqua Ventus has said it chose March to conduct the month long survey since there is less fishing activity this time of year. However, Reed said spring is traditionally the time of year when fishermen look to move their gear into this region.

Thats traditional spring fishing ground, and the rest of the year really, except for the heart of winter, Reed said.

With nice weather setting in earlier than normal this year, and lobster prices currently around $10 a pound, leaving traps in the path can be enticing to fishermen, especially if their traps are producing good hauls. Right now every pound counts, Reed said.

Since the survey vessel was scheduled to be in certain parts of the path at different times during the month-long period, fishermen might be taking the risk of leaving traps in their traditional spots until they think the vessel will actually be in the area, Maine Coast Fishermens Association Executive Director Ben Martens said.

However, because of weather delays early on in the survey and the gear density the vessel has encountered, the survey timeline has been delayed, Wilby said.

Right now the price of lobster is really good and the last year was a tough one, Martens said. I know a lot of guys who are trying to make up for some of the losses they experienced last year. With the good price, if theyre catching lobster, I wouldnt be surprised if some [fishermen] are [cutting] it a little closer than they normally would some of these decisions.

Martens said he has also heard from fishermen who didnt know the survey was going on, despite the multiple notices. With COVID and everything else communication is really hard right now. I think we missed a lot of people, he said.

Burns, 51, has fished in the area since he was 17 years old. While he said he tried to move his gear out of the pathway, he isnt confident hes been able to do so in keeping with the survey-path chart provided to fishermen, which he said is confusing.

Fishermen have also alleged that the survey ship is not staying within the pathway when it is dragging its gear. Wilby, the projects spokesperson, said the vessels do not drag their gear outside of the survey route because it could damage the equipment. However, the vessels do travel outside of the route when not towing gear.

This is not the first time that lobstermen have been asked to move their gear. The state conducts annual trawl surveys to assess fishery stocks and gear must be temporarily moved. Compliance with removal for these reasons is typically excellent, according to the Department of Marine Services.

Excerpt from:

As tensions rise, fishermen are frustrated with offshore wind development survey - Bangor Daily News

Highlights

Ceiling raised to GBP100,000/sq km

Reflects Round Four bidding behavior

Fees to fund Scotland's green recovery

New York Crown Estate Scotland has increased the ceiling on option fees payable on offshore wind seabed rights in the ScotWind Leasing competition from GBP10,000 ($13,711) per sq km to GBP100,000 per sq km, the property management body said March 24.

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Option fees are paid by successful bidders in exchange for securing seabed rights for offshore wind farms. A total 8,600 sq km of Scottish seabed is potentially available for such development.

"Funds [raised from the leasing] will be returned to the Scottish government for public spending to drive the green recovery and help deliver government priorities," the estate said.

Additional technical information on the first ScotWind Leasing round is to be published by the end of April, allowing registered applicants to progress their bids, the estate said. Applications close on July 16, 2021.

The current leasing round was suspended in February while Scottish ministers and the Crown Estate examined the extraordinary results of Round Four leasing in England and Wales, where the lowest bid came in at GBP76,200/MW per annum and the highest at GBP154,000/MW per annum.

The round, concluded Feb. 8, saw the Crown Estate awarding concessions to nearly 8 GW of offshore capacity to six developers, who committed GBP879 million ($1.2 billion) in option fee deposits alone.

The sums prompted sector association RenewableUK to warn of rising costs for developers and consumers due to fierce competition for the offshore wind concessions.

Crown Estate Scotland launched this current round of offshore wind leasing in June 2020, with a draft target of up to 10 GW installed.

The round could attract investment of more than GBP8 billion, the estate said.

View original post here:

Scottish offshore wind option fee ceiling rockets to reflect fierce competition - S&P Global

However, The Age and The Sydney Morning Herald are aware of almost two dozen online bookmakers that are receiving a live feed of NBL data from Sportradar, enabling them to offer in-play betting on the leagues matches. Almost half of these sites allow Australians to sign up, despite the Interactive Gambling Act making it illegal for bookmakers without a local licence to accept Australian customers.

The sites include the Malta-registered zebet.com, where The Age and Herald signed up using an Australian address and then placed in-play bets on multiple NBL matches as a continuous stream of Sportradar data updated the sites stats and scores.

At other sites, bets were offered in Australian dollars and registration codes were sent to an Australian phone number.

Some sites were geo-blocked to Australians, though sportsbet.io can be reached using a VPN. Once there, a gambler can register on the site using Australian details.

At betmasterplay.com, Sportradar also appeared to be providing data on a recent mid-week pre-season cup match between two amateur soccer teams in the Tasmanian second division.

A spokesperson for Sportradar said it covers NBL matches providing play-by-play information but did this by monitoring broadcasts of the games. While rival company Stats Perform is the NBLs exclusive betting data partner, Sportradar said its collection of data in this manner is common practice and is perfectly legitimate.

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Asked about some of the bookmakers seen to be using its data, the company said it works with licensed operators around the world and applies rigorous compliance standards.

However, we are not a regulatory body and we do not have enforcement powers. Concerns regarding the conduct of such operators should therefore be directed to the relevant authorities.

A secretive Sportradar subsidiary, Real Time Sportscast, which has in the past employed data scouts, has been advertising for live statistics reporters in Melbourne this year.

Federal Sport Minister Richard Colbeck said that capturing of sports data was not illegal, but had the potential to have an impact of sport integrity if not managed appropriately by the sporting body.

Government regulator Sport Integrity Australia was aware of the threat gambling on Australian sporting events poses, particularly when sub-elite or community sport is involved, Mr Colbeck said.

LIve betting on basketball is accessible via Sportradar to Australians on illegal offshore sites. Credit:Getty Images

Swiss-headquartered Sportradar has both integrity and data divisions. Its integrity division uses sophisticated algorithmic tracking of global betting markets to look for suspicious shifts in the odds that may indicate a game is being fixed. It then uses investigators to see if these red flags are legitimate concerns.

This was how Sportradar uncovered a match-fixing ring in Victorian Premier League soccer in 2013 involving the Southern Stars football club, winning it praise from Australian law enforcement authorities.

But the companys main line of work is servicing bookmakers, which has led to it being criticised for creating fertile ground for this same fraudulent behaviour. An independent review into tenniss match-fixing scandal found a cause of the problem was a contract with Sportradar that allowed it to distribute live data from lower-level matches.

Sportradar rejected this criticism and argued that the measures proposed by the review would worsen the sports problems by opening up a black market on betting.

Former senator Nick Xenophon, who helped to reform the Interactive Gambling Act, said the NBL was either treating its fans as absolute mugs, or they are the biggest mugs of all to be entering into this deal.

This is gobsmacking. The sports minister needs to look at this from an integrity point of view. This just destroys the credibility of the game. It just shows you how poor the regulatory framework is ... I think there should be a revolt amongst the membership of the NBL because, on the face of it, they have compromised the integrity of the game.

Former Australian Sports Anti-Doping Agency boss Richard Ings also questioned the deal, saying of selling live betting data to bookmakers, theres so much at stake for the integrity of sport.

How do you have an operation that is on the one hand looking at sport integrity, but on the other hand is involved in the gambling industry? asked Mr Ings, who is also a former professional tennis umpire.

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The 2017 ABC investigation revealed that, while low-level basketball matches were in play, Sportradars undercover data scouts would commentate the action to a call centre, believed to be in the Philippines, and that data would be distributed to bookmakers across the globe. Odds would be updated within seconds of the real action taking place.

The notion of data scouts entering our venues and obtaining that, it actually compromises the integrity of the sport, Basketball Australias then-CEO Anthony Moore said at the time, and the organisation introduced a new policy specifically to stop the practice.

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Gobsmacking: National basketball partner in league with illegal betting sites offshore - Sydney Morning Herald

Carver Companies (P&M Brick), the owner of the Port of Coeymans deep water inland marine terminal, has filed an application with the New York State Department of Environmental Conservation for an environmental permit for the upgrade of the port infrastructure to support offshore wind projects.

The Port of Coeymans Offshore Wind Infrastructure (POWI) Project proposes upgrades that consist of establishing a new dock, site grading to provide manufacturing space and lay down area, and other buildings to service the unique needs associated with manufacturing, assembly, and shipping of heavy offshore wind components.

According to the project developer, achieving the offshore wind target that New York Governor Andrew Cuomo set in 2019 will require thoughtful planning, design, and construction of highly capable, modern, and dedicated port facilities.

Developing the Port of Coeymans would provide an enormous benefit to the offshore wind industry by delivering a dedicated port facility, which will be critical for the supply chain while creating new and local jobs in the Upstate New York area, a project description document states.

The Port of Coeymans is one of the eleven ports marked as eligible to pair up with offshore wind developers to deliver New Yorks offshore wind targets.

New Yorks latest solicitation, which resulted in Equinor and BP winning the 2.5 GW tender to build offshore wind farms, also included a multi-port strategy and requirement for offshore wind generators to partner with any of the eleven prequalified New York ports to stage, construct, manufacture key components, or coordinate operations and maintenance activities.

The proposals for the two offshore wind farms by Equinor and BP, the 1,260 megawatt Empire Wind 2 Project and 1,230 megawatt Beacon Wind, comprised plans for manufacturing offshore wind components upstate at the Port of Albany and the Port of Coeymans. The proposals also included making South Brooklyn Marine Terminal the hub for construction activities and an operations and maintenance (O&M) base.

The state had already executed a contract with Equinor for the 816 MW Empire Wind 1, awarded at New Yorks first offshore wind solicitation, for which the developer plans to use gravity-based foundations produced at the Port of Coeymans.

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Port of Coeymans Upgrade Project Moving Through the System - Offshore WIND

Fishermen in nearly 100 boats from the midcoast gathered in waters near Monhegan Island on Sundayto protest the development of offshore wind energy infrastructure, including an array of wind turbinesproposed by the state.

Boats came from towns including South Bristol, Boothbay, Port Clyde, Tenants Harbor, Vinalhaven, Friendship, Spruce Head, Monhegan and Owls Head, Ben Martens, executive director of the Maine Coast Fishermens Association, told Mainebiz in a subsequent email.

The Brunswick association is an industry-based nonprofit that supports and advocates for Maines community-based fishermen.The protest was organized by the fishermen themselves, not by an industry association, he noted.

We fully support their efforts, he added.

Martenscontinued, Fishermen and waterfront communities throughout Maine are increasingly concerned at the speed at which offshore wind development is taking place in Maine. Maine has funding to create a full roadmap to better ensure that our fisheries and fishing communities are respected and protected, yet we seem to be full steam ahead on putting 700-foot industrial structures out on the ocean.

"We need clean energy, but just because wind is renewable, doesn't mean it's green and it doesn't mean it is the right choice for Maine.

The protest was held in response to plans by the Governors Energy Office to install an array of up to 12 wind-energy turbines, to be used for research demonstrationand to cover up to 16 square miles off Maines southern coast.

In January, a coalition of fishing communities sent a letter to Gov. Janet Mills expressing concern about the project.The coalition included the Maine Lobstermens Association, Maine Coast Fishermens Association, Maine Lobster Dealers Association, Maine Lobstering Union, Maine Center for Coastal Fisheries and Downeast Lobstermens Association. The coalition was joined by a Washington, D.C., nonprofit, Responsible Offshore Development Alliance.

In a March 17 blog post to the Maine Coast Fishermens Association website, Friendship fisherman Dustin Delano, Maine Lobstermen's Association's second vice president, wrote, In recent weeks, many fishermen along the Maine coast have discovered a new fear to add to their lengthy list of stressors that they will be replaced by 700-plus-foot wind turbines in the Gulf of Maine.

Although the Department of Marine Resources and the Governors Energy Office have engaged in communication with the industry, he wrote, fishermen still believe their concerns are not being heard, particularly due to the virtual nature of the meetings as a result of the pandemic.

As a result, many fishermen who live in rural areas without access to good broadband, and fishermen lacking the knowledge to use online platforms, are being excluded from both conversations and access to information, Delano wrote. They are completely in the dark about something that has the potential to destroy their future.

He added, Fishermen and their communities do not want to be replaced by giant floating turbines.

In January, stateRep. Billy BobFaulkingham, R-Winter Harbor, introducedLD 101, an Act to Prohibit Offshore Wind Development in the Gulf of Maine. The proposed legislation targets community-based offshore wind energy projects, deep-water offshore wind energy pilot projects, offshore wind energy demonstration projects and offshore wind power projects.

The state has identified an "area of interest" for its research project southeast of Casco Bay.

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100 fishing boats gather off Monhegan in protest of offshore wind development - Mainebiz

A burst natural gas pipeline in Venezuela has forced PDVSA to cut light crude oil production by 30,000 bpd, Reuters has reported, noting that the explosion could also affect the production of the countrys most popular heavy grade, Merey 16.

The state oil company uses the light crude to dilute its extra heavy to make it more easily transportable.

A section of the pipeline, which transports associated gas from oil fields to a reinjection plant, exploded last Saturday, with the government blaming the explosion on a terrorist attack.

At the time, Reuters reported that PDVSA was forced to suspend operations at the reinjection plant to stop the fire and assess the damage.

Venezuela produced some 521,000 bpd of crude oil last month, according to the latest OPEC Monthly Oil Market Report. This was down from an average of 796,000 bpd for 2019 but higher than the average for 2020, which was 500,000 bpd.

The government in Caracas has pledged to boost production to as much as 1.5 million bpd this year. To that end, the Maduro regime is even ready to invite back foreign companies and end PDVSAs monopoly of the Venezuelan oil industry.

According to a recent Bloomberg report, managers of foreign oil companies are already discussing their return to the country with the biggest oil reserves in the world.

Venezuelas crude oil and refined product exports plummeted in 2020 to theirlowest level in 77 years, as the U.S. continued to step up sanctions against Maduros regime and anyone found dealing with it. Last year, Venezuelas oil exports plunged by 37.5 percent, reaching just 626,534 barrels per day (bpd)the lowest level since the early 1940s.

Much of Maduros turnaround plan depends on the lifting of U.S. sanctions, but the Biden administration has signaled that this would only happen if the government in Caracas takes some major steps towards reconciling its differences with the opposition.

By Charles Kennedy for Oilprice.com

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Offshore Oil & Gas Spending Set To Jump To $44 Billion In 2021 - OilPrice.com

New York, March 25, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "High Net Worth (HNW) Offshore Investment - Drivers and Motivations 2020" - https://www.reportlinker.com/p06039262/?utm_source=GNW

This report draws on our 2019 and 2020 Global Wealth Managers Surveys to analyze the drivers behind offshore investments in the HNW space, along with our wide-ranging 2020 Banking & Payments Survey, which offers insight into retail investors with offshore investments.It examines and contrasts offshore HNW investment preferences across multiple jurisdictions and wealth tiers, providing readers with an in-depth understanding of what is motivating HNW investors to look to offshore booking centers.

The report outlines key challenges facing the wealth management industry in 2021, taking into account the impact of the pandemic and increasing digitization.

Scope - Non-resident investment assets reached an all-time high in Q3 2020, with further growth expected in 2021. - Roughly 10% of investors have offshore investments, although this figure approaches a third in the Middle East and Africa. - While not an overt driver, expats are a core demographic of the offshore investment market. - As the recovery takes hold, international trade and business supply chains are expected to increasingly drive more HNW wealth to be booked offshore. - COVID-19 and its effects on local markets are expected to drive more investors to offshore wealth in North America, while the pandemic has little impact on Asia Pacifics investment intentions.

Reasons to Buy - Understand the growth of the non-resident investor segment in recent years. - Identify which offshore booking centers are gaining market share amid the pandemic. - Gain insight into the drivers behind retail and HNW investor offshoring. - Forecast HNW demand for offshore wealth management in all key markets. - Size key market segments within the offshore investment market. - Map offshore product and service provision across the world. - Examine the effects of COVID-19 on the HNW offshore investment portfolio.Read the full report: https://www.reportlinker.com/p06039262/?utm_source=GNW

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High Net Worth (HNW) Offshore Investment - Drivers and Motivations 2020 - GlobeNewswire