Brazil will likely end up exploring the Equatorial Margin for oil but state-run Petrobras should adopt a 'cautious' approach given the need for precautions to protect the environment, Finance Minister Fernando Haddad said on Sunday.The Equatorial Margin is some 2…
Seismic group TGS, a supplier of key data to the oil industry, has agreed to buy loss-making rival PGS in an all-share deal valued at 9.3 billion Norwegian crowns ($864 million), the two Oslo-listed companies said on Monday.The groups expect 'significant economies of scale' from the combination…
Italian energy group Eni has won a second carbon dioxide storage licence in Britain, the company said on Friday. The new licence is for the depleted Hewett gas field located 20 kilometers (12.4 miles) offshore Bacton, in the southern North Sea sector of Britain…
Norway's $1.4 trillion sovereign wealth fund, the world's largest, revealed stricter demands on Friday for how companies it invests in should handle climate risk, telling boards to move from target setting to transition planning.The fund, which…
President Joe Biden’s goal to deploy 30,000 megawatts of offshore wind along U.S. coastlines this decade to fight climate change may be unattainable due to soaring costs and supply chain delays, according to forecasters and industry insiders…
Spain-based renewable energy giant Iberdrola said Friday that its Brazilian subsidiary Neoenergia had signed a memorandum of understanding (MoU) with the Government of Rio Grande do Norte to develop studies for offshore wind development in the state's coastal region…
After several short-term charter extensions, the Norwegian FPSO leasing firm BW Offshore has closed the transaction for the sale of the Abo FPSO.BW Offshore will sell the FPSO to STAC Marine Offshore Limited, a member of the Nigerian Transport Group (STAC) for $20 million…
Norwegian oil and gas company Equinor has submitted a plan for development and operation (PDO) of the Eirin offshore gas field to the country's Ministry of Petroleum and Energy.According to Equinor, recoverable reserves in the field are estimated at 27…
Wave Energy Scotland (WES), a subsidiary of Highlands and Islands Enterprise (HIE), is running tests at the University of Edinburgh’s FloWave facility, to determine the potential for floating platforms that can be used by both offshore wind and wave energy devices…
SNC-Lavalin Group Inc., a company providing engineering, procurement, and construction services, to various industries, said Friday it was rebranding to AtkinsRéalis.'Building on more than a century of accomplishments from brands such as SNC-Lavalin…
Global investment of $2.7 trillion a year is needed to achieve net zero emissions by 2050 and avoid temperatures from rising above 1.5 degrees Celsius this century, a report by consultancy Wood Mackenzie said on Thursday. Scientists have said…
Norway must continue to deliver natural gas to Europe for as long as needed while also working to decarbonize the continent's energy systems, the Norwegian climate and environment minister said on Friday.'We think it's strategically important that we uphold these deliveries while there is still use…
Following the UK's first-ever carbon storage licensing process, the North Sea Transition Authority (NSTA) on Friday released the list of firms that had accepted licenses.A total of 14 companies have been awarded 21 licences in depleted oil and…
Shell has given financial approval for the development of the massive Manatee gas field offshore Trinidad and Tobago, the country's Prime Minister Keith Rowley said on Thursday.Trinidad is Latin America's largest LNG exporter, but its flagship…
Dutch FPSO leasing specialist SBM Offshore and Japanese industrial group Mitsubishi Heavy Industries Ltd. (MHI) have signed a partnership agreement that will offer a CO2 capture solution for Floating Production Storage and Offloading vessels…