Malaysia's state energy firm Petronas on Tuesday posted higher profit of 23.4 billion ringgit ($5.35 billion) for its first quarter, in tandem with greater revenue following an upward trend in prices.Revenue rose almost 50% to 78.8 billion ringgit in the January-March quarter…
European Union leaders have agreed an embargo on Russian oil imports that will start kicking in towards the end of the year and which exempts, for now, pipeline imports that Hungary and two other landlocked Central European states rely on.The…
Malaysian company Sapura Energy has agreed to sell its pipe-laying and crane vessel Sapura 3000 for $71.5 million to Safeen Feeder Company – Sole Proprietorship LLC, a company in the Abu Dhabi Ports Group of Companies.'The proposed asset disposal exercise is part of the Group’s reset plan…
Cenovus Energy and its partners have agreed to restart the West White Rose oilfield project offshore Newfoundland and Labrador, Canada in 2023, the oil and gas producer said on Tuesday.Major construction activities in West White Rose project…
The global oil and natural gas markets are contending with rebounding energy demand on top of supply disruptions from Russia’s invasion of Ukraine. As a result, activity and business sentiment in the floating production sector have seldom been stronger…
Saipem's giant Saipem 7000 semi-submersible crane vessel is set to return to operation at the Seagreen wind farm site in the UK a month and a half after it was involved in a tilting incident in Norway.As previously reported, in mid-April, Saipem…
Offshore accommodation rig provider Prosafe has appointed Reese McNeel (45) as Chief Financial Officer. McNeel will replace the current Deputy CEO & CFO, Stig H. Christiansen, who has accepted a position with another company. McNeel will take up his position on August 1…
Marine seismic survey firm Shearwater GeoServices has won a contract in the UK related to a carbon capture and storage project.The project, awarded by BP on behalf of the Northern Endurance Partnership (NEP), is for geophysical data processing and imaging to advance the East Coast Cluster…
Technip Energies has appointed Samir Karoum as Chief Strategy & Sustainability Officer and member of the Group Executive Committee.Based in Boston, USA, Karoum will oversee Strategy, Sustainability as well as investments, partnerships, strategic marketing and digital…
Energy industry expert and assurance firm DNV has partnered up with 25 industry giants in a Joint Industry Project (JIP) aimed at enhancing technology development for floating offshore wind substations, with particular attention to how export…
Oil prices extended gains on Tuesday after the EU agreed to slash oil imports from Russia, fuelling worries of a tighter market already strained for supply amid rising demand ahead of peak U.S. and European summer driving season.Brent crude for July…
Suriname's state oil company Staatsolie plans to hold an auction for deepwater offshore blocks at the end of 2022 and another for shallow water blocks in mid-2023, the company's managing director told Reuters.The South American nation is a small…
U.S. oil company ConocoPhillips has reduced the estimate of the size of its Slagulge oil and gas discovery in the Norwegian Sea, after a nearby appraisal well came up dry.To remind, ConocoPhillips in December 2020 said it had made a „significant“…
Spanish company ACCIONA Energía has acquired 24% of the capital of the French company Eolink, which specializes in the development of floating foundations for offshore wind energy. With the acquisition, Acciona Energia has become the main shareholder in Eolink…
Ørsted on Monday warned that Russia's Gazprom Export could stop supplying gas to the Danish energy company because it has refused to pay in roubles, but such a move would not immediately put Denmark's gas supplies at risk.Russia's rouble payment…