Resource-poor Japan is facing a historic energy security risk as tensions with Moscow intensify, heightening the threat of gas supply disruptions at a time when global supply is tight and spot prices are sky-high.Last week, Russia seized full…
Retail investors dumped the rights to buy into a 2 billion euro ($2 billion) cash call at Italian energy services group Saipem on Tuesday, heightening risks for banks that agreed to mop up any unsold shares unless institutional buyers pick up the slack…
Five oil and gas companies in Norway, partners in the Troll and Oseberg fields in the North Sea, are looking to build a 1GW floating wind farm in the Troll area, with the plan to use the wind farm to power oil and gas installations. The final investment decision could be made in 2023…
U.S. President Joe Biden on Friday accused the U.S. oil industry, and Exxon Mobil Corp in particular, of capitalizing on a supply shortage to fatten profits after a report showed inflation surging to a new 40-year record.U.S. consumer inflation…
Swedish utility Vattenfall said on Monday it had agreed to buy an 85% stake in two early-stage offshore wind projects off Sweden's west coast from Norwegian wind farm developer Zephyr.State-owned Vattenfall said in a statement it expected the projects to have a combined production capacity of 2…
Major Canadian pension fund Ontario Teachers' Pension Plan has agreed to invest up to $1 billion in a new offshore wind business launched by Australia's Macquarie Group to develop projects around the world, the companies told Reuters on Thursday…
Fears of gas supply interruptions due to Russian gas export constraints are driving interest and demand for floating regasification terminals, with contracting activity for oil and gas floaters also being quite active, World Energy Reports said in April 2022 Floating Production Systems Report…
Octopus Energy Generation has bought a near-8% stake in the 270 megawatt Lincs wind farm off the East of England, its first investment in a large UK offshore wind farm, it said on Thursday without disclosing financial details.The wind farm has…
ADES, a Middle East-focused offshore drilling company, is continuing with its April offshore rig shopping spree.After agreeing to buy four jack-up drilling rigs from Aban Offshore, and one from Maersk Drilling earlier this month, ADES has now…
U.S. oil company W&T Offshore said Tuesday it had acquired the remaining working interests in the oil and gas producing properties in the U.S. Gulf of Mexico bought earlier this year from an undisclosed private seller.The assets are located…
Norway's $1.3 trillion wealth fund, the world's largest, should push the 9,300 companies it invests in worldwide to adopt net-zero targets, the finance ministry proposed on Friday.The move comes after a government-appointed commission said in…
Hungarian oil and gas company MOL has signed a deal to sell its entire upstream portfolio in the UK North Sea to Waldorf Production.The divested offshore assets include MOL’s 20% stake in the Catcher field, a 50% stake in Scolty & Crathes, and a 21…
Tongues are wagging in the offshore sector, as one of the longest-running rumors in the market has finally come true. U.S. offshore vessel owner Tidewater Marine has acquired Singapore's Swire Pacific Offshore for USD 190 million, the company’s…
Austrian energy group OMV will turn the page from its embrace of Russia and could signal a gradual exit from its oil and gas business when it presents its strategy under new Chief Executive Alfred Stern on Wednesday.After Stern took over as CEO last year…
UK-based oil and gas firm IOG said Friday it had struck a new gas sales agreement ('GSA') with BP Gas Marketing Limited ('BPGM'), for the gas to be produced from its gas fields in the southern North Sea, offshore the UK.The deal covers its equity…
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