Energy News


Costa Rica Looks to Ban Fossil Fuel Exploration and Extraction

5 hours ago

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…

ConocoPhillips Beats Estimates on Higher Prices, Output

Aug 03, 2021

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…

Markets: Oil Rises as Inventories Expected to Fall

Aug 03, 2021

Oil rose on Tuesday on expectation of a continuous decline in U.S. oil inventories, recouping some losses from the previous session due to lingering concern over rising cases of the Delta coronavirus variant.Brent, the international benchmark for oil prices…

Subsea 7 Takes Majority Stake in Floating Wind Tech Player

Aug 02, 2021

Offshore services firm Subsea 7 on Monday revealed has reached a deal to acquire a majority interest in the equity of Nautilus Floating Solutions S.L., a Bilbao, Spain-based developer of technology for the floating wind market.Nautilus has developed…

Eni Finds New Oil Offshore Mexico

Aug 02, 2021

Eni announced an oil find in Upper Miocene sequences on the Sayulita Exploration Prospect in Block 10 in the mid-deep water of the Cuenca Salina Sureste Basin, Offshore Mexico. According to preliminary estimates the new find may contain between 150 and 200Mboe in place…

SapuraOMV Divest Stakes in Peninsular Malaysia Producing Asset

Aug 02, 2021

SapuraOMV announced the completion of the transaction to sell its entire interests, held by SapuraOMV Upstream (PM) Inc. in various producing assets, located offshore Peninsular Malaysia to Jadestone Energy PLC, a Singapore-based, London-listed independent oil and gas company…

Oil Drops on China Economy Concerns

Aug 02, 2021

Oil prices fell on Monday on worries over China's economy after a survey showed growth in factory activity slipped sharply in the world's second-largest oil consumer, with concerns compounded by a rise in oil output from OPEC producers.Brent crude oil futures slid by 74 cents…

TetraSpar Floating Wind Demonstrator Reaches Test Site in Norway

Jul 30, 2021

The TetraSpar floating wind foundation, developed by Stiesdal Offshore Technology, has arrived at the Marine Energy Test Centre, near Stavanger, southeast Norway. The foundations have been fitted with a 3.6MW wind turbine.The news was shared…

Chevron Posts Highest Profit in Six Quarters. Moves to Reward Investors

Jul 30, 2021

Chevron Corp on Friday reported its highest profit in six quarters and joined an oil industry stampede to reward investors with share buybacks, as rebounding crude oil prices carried earnings and cash flow to pre-pandemic levels.Oil and gas…

Partners Sell Beatrice Offshore Wind Farm's Transmission Assets

Jul 30, 2021

The consortium owning the Beatrice Offshore wind farm off the coast of Scotland, has signed an agreement to sell the 588MW wind farm's Offshore Transmission Assets (OFTO) to Transmission Capital Partners.The buyer is a consortium comprising International Public Partnerships Limited…

Siemens Gamesa Hikes Wind Turbine Prices as Raw Materials Become More Expensive

Jul 30, 2021

Wind turbine maker Siemens Gamesa is charging higher prices, combing over contracts, and hedging harder against rising raw materials costs to try to heave its business back to profit, executives said on Friday.The world's biggest maker of the…

PHOTO: Offshore Wind Blade for MingYang's 11MW Turbine Rolls of Production Line

Jul 30, 2021

China's MingYang is making progress will its MySE 11MW-203 offshore wind turbine development.The company said Friday via social media that its MySE 11-99A1 blade for the 11MW turbine had rolled off the production line at the Guangdong Shanwei offshore blade production facility on Thursday…

Harbour Energy Taps Xodus for Offshore Platform Electrification Support

Jul 30, 2021

North Sea oil and gas producer Harbour Energy has tapped consultancy Xodus to assess the infrastructure and modifications required to enable electrification of the oil and gas company's Central North Sea platforms.The move comes following the…

Offshore Wind Turbine Maker Siemens Gamesa Posts Quarterly Loss

Jul 30, 2021

Wind turbine maker Siemens Gamesa posted a loss for the three months to June on Friday and confirmed a warning it made earlier this month that its profit margin could be negative over the full year.The world's biggest maker of the huge offshore generators…

Current News

Oceaneering Secures Integrity Management Services Contract in PNG

NOAA's Revised Hurricane Outlook Sees More Storms in 2021 Atlantic Season

Costa Rica Looks to Ban Fossil Fuel Exploration and Extraction

Subsea Tech: Taking 3D Printing to the Seabed

Subscribe for OE Digital E‑News