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…
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…
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…
Denmark's government on Tuesday said it aimed to significantly boost renewable energy supply and temporarily increase production of natural gas from its fields in the North Sea, in a move to rapidly become independent of Russian supplies.'We…
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…
Germany could find itself in a no-win situation if Russia invades Ukraine, pitting Berlin's main gas supplier against its most important security allies.Chancellor Olaf Scholz would face pressure from the United States and other Western allies…
Germany signaled on Tuesday that it could halt the Nord Stream 2 pipeline from Russia if Moscow invades Ukraine, and Western nations rallied behind Kyiv over a Russian troop buildup that has stoked fears of war.Stepping up diplomacy after talks with Russia ended in stalemate last week…
Norway is delivering natural gas to Europe at maximum capacity, but this cannot replace any missing supplies from Russia, Norwegian Prime Minister Jonas Gahr Stoere said on Wednesday.Norwegian companies have optimized their delivery potential…
Viasat agreed to buy British rival Inmarsat on Monday in a $7.3 billion deal to broaden the U.S. based company’s satellite and land-based communications services.The takeover of London-based Inmarsat comes just two years after it was taken private in a $3…
Around 30 production floater contracts are now queued up for award over the next 18 months, assuming no major market disruption occurs and the supply chain can absorb the orders within this time frame. That’s the conclusion of an in-depth market analysis just completed by IMA/WER…
CNOOC Ltd's unaudited third-quarter revenue grew 64% to 59.7 billion yuan ($9.33 billion) on higher prices and output, the Chinese offshore oil and gas major said on Thursday.The state oil firm said it is mapping out an emissions-cutting roadmap…
Norway's Equinor posted its strongest quarterly result in nine years on Wednesday, driven by a global energy supply crunch that pushed Europe's natural gas prices to record highs and sent the value of derivative contracts soaring.The company…
Global oil major ExxonMobil Corp is looking at buying a stake in some of the local deepwater fields of Indian explorer Oil and Natural Gas Corp, oil secretary Tarun Kapoor said on Friday.India, the world's third-biggest oil importer, and consumer…
FourPhase, the solids and production performance specialist for the oil and gas sector, has said it has carried out the first-ever successful desander operation in the wider Trinidad region.The company said it had completed the operation successfully…
Crude prices have climbed to the upper-$70s, sustained by continued demand growth and the OPEC+ production curtailment agreement. Excess oil inventory has largely been eliminated, natural gas supply shortages have appeared in Europe and LNG prices have soared…
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