Oil prices fell by 4% on Monday, extending last week's steep losses on the back of a rising U.S. dollar and concerns that new coronavirus-related restrictions in Asia, especially China, could slow a global recovery in fuel demand.A United Nations…
The Vigdis subsea field in the North Sea has produced oil via the Snorre field for 24 years, and when it came on stream in 1997, it was projected to produce 200 million barrels.To date, according to Equinor, it has produced twice that amount…
Rem Offshore and VARD signed contracts for the design and construction of construction service operations vessels (CSOV).Two CSOVs with an option for two additional vessels were ordered by Rem Offshore with VARD. Two firm contracts for the firm…
Offshore wind services company Eneti announced on Thursday it has entered into an agreement to acquire rival Seajacks, creating one of the world's largest, most capable fleets of wind turbine installation vessels (WTIV).Eneti said its deal with sellers Marubeni Corporation…
Exxon Mobil Corp is considering a pledge to reduce its net carbon emissions to zero by 2050, the Wall Street Journal reported on Thursday, citing people familiar with the matter.The report comes more than two months after the oil major's shareholders…
Petrochemicals giant Saudi Basic Industries Corp (SABIC) swung to a $2 billion quarterly profit and said it expects solid performance to continue in the second half of 2021, backed by healthy demand and rising oil prices.SABIC, the world's fourth…
Mammoet reports it has executed its first operation, the transport of two topsides, using low-carbon HVO fuel in Mammoet’s SPMT powerpacks. HVO is an alternative to traditional diesel, made primarily from waste and residues, such as waste cooking oil…
Brazil's Petrobras beat second quarter profit estimates on Wednesday, as higher Brent prices, strong natural gas sales and relatively controlled expenses boosted the company's bottom line.In an evening securities filing, Petroleo Brasileiro SA…
Williams (NYSE: WMB) reached an agreement with Shell Offshore Inc. and Chevron U.S.A. Inc. to provide offshore natural gas gathering and crude oil transportation services as well as onshore natural gas processing services for the Whale development…
Guyana received bids from 15 different companies aiming to market the government's share of the crude produced off the South American country's coast, according to Guyana's National Procurement and Tender Board Administration website on Wednesday…
Oceaneering International, Inc. announced its Integrity Management and Digital Solutions (IMDS) segment has won a new multi-year contract in Papua New Guinea (PNG) with a major operator.The contract is for a duration of three years plus two one-year extensions…
Costa Rican lawmakers this week will discuss a bill to permanently ban fossil fuel exploration and extraction, a move that would prevent future governments from pivoting on the issue as the popular eco-tourism destination country aims to decarbonize by 2050…
Siemens Energy cranked up the pressure on wind turbine division Siemens Gamesa on Wednesday, saying it was 'extremely annoying' that it was having to reduce its profit outlook as a result of the Spanish-listed unit.The comments from CEO Christian…
ConocoPhillips on Tuesday posted a second-quarter profit that nearly doubled from the first and topped analysts estimates, helped by higher oil and gas prices and production.A recovery in fuel demand from a pandemic-forced slump has boosted globally-traded crude prices to over $70…
BP boosted its dividend and share buybacks on Tuesday, sending its shares up by over 5%, after beating expectations with a $2.8 billion second-quarter profit powered by higher oil prices and recovering demand.The strong results, underpinned by higher sales at petrol stations…
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