Abu Dhabi National Oil Co (ADNOC) Chief Executive Sultan al-Jaber said on Monday that zeroing out hydrocarbon investment due to natural decline could lead to a loss of 5 million barrels of oil per day a year from current supplies. 'The data is clear…
Offshore installation company Subsea 7 said Monday it had won a sizeable contract in Asia Pacific.Subsea 7 defines a sizeable contract as being between USD 50 million and USD 150 million.Engineering work will start immediately, and offshore activity is scheduled for 2024 and 2025…
LONDON, Oct 29 (Reuters) - Russia's defense ministry said on Saturday that British navy personnel blew up the Nord Stream gas pipelines last month, a claim that London said was false and designed to distract from Russian military failures in Ukraine…
Nigeria is planning to auction seven deep offshore oil blocks, 15 years since the last ones were auctioned, the upstream regulator said on Saturday. Apart from marginal fields, Nigeria last conducted bidding for 45 oil blocks in 2007 even when…
The UK oil and gas regulator North Sea Transition Authority (NSTA) warned the industry on Friday that it would not hesitate to take action against companies that fail to meet their license obligations. 'An investigation has been opened into whether a company…
Global oil-and-gas giants including Exxon Mobil, Chevron, and Equinor, posted huge profits in the third quarter, benefiting from surging energy costs that have boosted inflation around the world and hit consumers hard. Oil companies booked billions of dollars in profits as prices for crude…
Ocergy has won a the pre-FEED foundation design contract for its OCG-Wind foundation technology to be deployed at the Salamander floating offshore wind project, run by a joint venture between Simply Blue Group, Ørsted, and Subsea7.Ocergy has developed OCG-Wind…
Sweden has ordered additional investigations to be carried out of the damage done last month to the two Nord Stream pipelines, the prosecutor in charge of the case said in a statement on Friday. Sweden and Denmark have both concluded that four leaks on Nord Stream 1 and 2 were caused by explosions…
Offshore installation firm Allseas said Friday that its pipelay vessel Audacia had recently broken a pipelaying record in Malaysia.'Congratulations to crew who installed 4 kilometers of pipeline in 24 hours, beating the previous best of 3.8 kilometers for Malaysian waters…
Exxon Mobil Corp on Friday smashed expectations as soaring energy prices fuelled a record-breaking quarterly profit, nearly matching that of tech giant Apple. Its $19.66 billion third-quarter net profit far exceeded recently raised Wall Street…
Shell's outgoing Chief Executive Ben van Beurden will get one-year base salary of 1.42 million pounds ($1.64 million) as compensation after leaving the position at the end of the year, the oil giant said on Friday. The payment will be done in six equal monthly installments between July 1 and Dec…
Chevron Corp on Friday reported its second-highest ever quarterly profit, blasting past analysts' estimates, driven by soaring global demand for its oil and gas and rising production from its U.S. oilfields.The surge comes as oil companies…
Norway-based GC Rieber Shipping has ordered two WindKeeper Service Operation Vessels for offshore wind operations from the Cemre shipyard in Turkey. The order includes options for two further vessels. The first vessel will be delivered in Q1 2025…
British Gas owner Centrica has reopened its Rough gas storage site off England's east coast at about 20% of its previous capacity, enough to heat 1 million homes for 100 days this winter, the company said on Friday.Countries across Europe have…
Oilfield firm Baker Hughes on Thursday said it would increase its quarterly dividend by 5.5% to 19 cents per share and that its board had authorized an additional $2 billion in share repurchases. The increases underscore an ongoing focus by…