The OPEC+ decision to extend crude oil production cuts is an acknowledgment that demand growth is still uncertain, but also that the group remains hopeful its bullish scenario is correct.The Organization of the Petroleum Exporting Countries (OPEC) and its allies including Russia…
Canada-based oil and gas company Valeura Energy has started development drilling operations at Nong Yao C extension, having completed the infill drilling campaign at Nong Yao A, offshore Thailand.Valeura has drilled two production-oriented horizontal wells at the Nong Yao A wellhead platform…
The repair work on the cable which connects the 309 MW Rentel offshore wind farm to the Belgium’s mainland has been completed approximately four months after the failure.The fault was located just below the Rentel transformer platform. A new section of cable…
Extreme temperatures across Asia are driving up liquefied natural gas (LNG) demand in the region as importers seek cargoes ahead of summer, with imports in South Asia hitting records.This could tighten available supply and further lift Asian spot prices that have already gained a third since April…
Maryland Governor Wes Moore signed a bill aimed at reevaluating and potentially revising existing offshore wind project plans, setting the stage for the state's goal of achieving 8,500 megawatts of offshore wind energy capacity by 2031.The bill…
Petrobras' new chief executive said a basin in Brazil's Equatorial Margin, an environmentally sensitive offshore prospect seen as the country's most promising frontier for oil exploration, was a matter of 'national interest.'Magda Chambriard…
Malaysia-based offshore services provider Carimin Resources Services, a subsidiary of Carimin Petroleum, has signed an agreement with Penguin Shipyard Asia for the acquisition of unregistered crew boat newbuild, worth $4.96 million.The newbuild…
North Sea oil and gas producers are merging and shifting overseas as Britain's windfall tax slashes profits and as the opposition Labour Party threatens more tax if it wins the next general election.The change of strategy could accelerate the decline of domestic production…
Italian energy group Eni could spin off stakes in high-potential oil and gas projects, including in Indonesia and Ivory Coast, to help finance their development while focusing more capital on low-carbon activities, company sources said.Such…
A consortium including Germany's BayWa r.e. and Belgium firm Elicio won a tender to develop and operate France's first floating offshore wind farm, the 250-megawatt (MW) Bretagne Sud farm, French industry minister Roland Lescure said on Wednesday…
The chief executive of Brazil's Petrobras offered to step down, the state-run oil company said on Tuesday, as the government lined up a former regulator for the role, sending shares sliding as investors braced for political interference.Brazilian…
First power from Ørsted’s Gode Wind 3 offshore wind farm in the German North Sea is now feeding the grid.Offshore wind construction company Cadeler reports its wind turbine installation vessel (WTIV) Wind Osprey recently installed the first Siemens Gamesa 11-megawatt (MW) turbine at the project…
OIlfield services company SLB on Tuesday announced its OneSubsea joint venture and Subsea7 has been awarded a 'sizeable' integrated engineering, procurement, construction, and installation (EPCI) contract from OKEA.The contract will see the…
So far, the Israel-Hamas conflict has had limited impact on the global economy. However, an escalation to a direct war between Israel and Iran, could result in oil prices rising to $150 a barrel and global output cut by $1 trillion, according…
The principle behind sacrificial anodes, which are used to safeguard underwater pipelines and structures from corrosion, is relatively straightforward. Made of alloys like aluminum, Zinc and is some cases Magnesium, the anodes are more reactive…
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