• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 5 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 3 days Does Toyota Know Something That We Don’t?
  • 6 days OPINION: Putin’s Genocidal Myth A scholarly treatise on the thousands of years of Ukrainian history. RCW
  • 3 days World could get rid of Putin and Russia but nobody is bold enough
  • 2 days America should go after China but it should be done in a wise way.
  • 6 days CHINA Economy IMPLODING - Fastest Price Fall in 14 Years & Stock Market Crashes to 5 Year Low
  • 5 days China is using Chinese Names of Cities on their Border with Russia.
  • 6 days Russian Officials Voice Concerns About Chinese-Funded Rail Line
  • 5 days CHINA Economy Disaster - Employee Shortages, Retirement Age, Birth Rate & Ageing Population
  • 6 days Putin and Xi Bet on the Global South
  • 6 days "(Another) Putin Critic 'Falls' Out Of Window, Dies"
  • 7 days United States LNG Exports Reach Third Place
  • 7 days Biden's $2 trillion Plan for Insfrastructure and Jobs
  • 11 days huge-deposit-of-natural-hydrogen-gas-detected-deep-in-albanian-mine
Editorial Dept

Editorial Dept

More Info

Global Energy Advisory 3rd August 2017

European oil majors are turning to offshore wind power projects in the United States. Earlier this year, Shell bid for an offshore wind power lease off the North Carolina coast and Danish DONG Energy set up an office in the U.S. and is taking part in a consortium focused on wind energy off the Massachusetts coast. Now, Norway’s Statoil has joined the wind power party in U.S. waters after winning a license for one such project offshore New York.

The wind power industry in the U.S. is in the nascent days of development, while in Europe the market is 25 years old and saturated, so the energy companies from the continent are looking for new opportunities abroad, despite the Trump administration’s shift away from renewables and back into fossil fuels.

Companies like Shell and Statoil can leverage their deep-water drilling and project operation experience, and they have both reoriented themselves towards renewables. Statoil has more extensive experience in wind power than Shell--but both seem to be determined to diversify steadily into renewable energy.

According to government estimates, in the U.S., there is offshore wind power potential of up to 2,000 GW. This compares to planned European offshore wind capacity expansion to 25 GW by 2020.

Wind power has now overtaken hydroelectric as the largest single source of clean energy in the United States. With 82,000 MWs of total installed capacity at the end of 2016, wind turbines exceeded the 80 thousand…




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News