Energy News

ConocoPhillips Posts Smaller-than-expected Loss

4 hours ago

Oil producer ConocoPhillips, which is buying Concho Resources Inc for $8.3 billion, posted a smaller-than-expected quarterly loss on Thursday as it benefited from a recovery in crude oil prices from pandemic-driven lows.Oil prices began recovering…

Ideol, BYUM Sign Concrete Floater Construction Deal

10 hours ago

Ideol, a France-based France developer of floating foundations for offshore wind, has signed a collaboration agreement with Swedish Bygging Uddemann (BYUM). BYUM is a solution provider for serial production of concrete structures.According to Ideol's statement on Thursday…

Aker BP Posts Higher Than Expected Operating Profit. Cuts Capex Guidance

11 hours ago

Norwegian independent oil firm Aker BP reported on Thursday higher-than-expected operating profits for the third quarter and slightly cut its expected spending for the full year.Operating profit rose to $242 million from $196 million in the same quarter a year ago…

Malaysia: Petronas Launches Investigation into Fatal Offshore Incident

12 hours ago

Malaysian oil and gas giant said Thursday it was investigating the cause behind the incident that happened earlier this week when the Dayang Topaz offshore vessel crashed into its platform at the Baram field, off Sarawak.'A thorough assessment of the platform structures is being carried out…

Ferrovial to Build DemoSATH Floating Wind Platform

12 hours ago

Saitec Offshore Technologies, in cooperation with RWE Renewables, has announced the imminent start of the construction of its SATH floating platform for offshore wind turbines as part of its DemoSATH project.The construction contract has been awarded to Ferrovial…

Stalled Oil and Gas Resources – How Big an Opportunity Is It?

13 hours ago

A new study by Westwood Global Energy Group shows that 11 billion barrels of oil and 36 billion barrels of oil equivalent (boe) gas in 119 discoveries >100 million boe in size made between 2008 and 2016 is currently stalled with no progression towards development…

Spanish Oil Firm Repsol Cuts Capex

13 hours ago

Spanish oil and gas group Repsol returned to profit in the third quarter after a deep loss in the second, and suggested it could spin off some of its growing renewables business to maximize investment returns.Repsol, however, said it would cut…

Denmark to Host Talks on Hesselø Offshore Wind Farm Tender

13 hours ago

Danish Energy Agency and Energinet will host a market dialogue for potential tenderers and the industry on the coming Hesselø Offshore Wind Farm tender. Hesselø Offshore Wind Farm is the second offshore wind farm agreed in the Energy Agreement of June 2018…

IRClass Classes India's First LNG-FSRU

14 hours ago

Ship classification society Indian Register of Shipping (IRClass) has classed India’s first LNG-FSRU.Built at Hyundai Shipyard in Ulsan, South Korea, the 180,000 cu.m, the Indian-flagged, is designed for continuous operations without the need for drydocking over a period of 20 years…

MAN to Supply Compressor Tech for Bacalhau FPSO

15 hours ago

MAN Energy Solutions will supply five radial compressor and two screw compressor trains for the Bacalhau FPSO, under the contract with the Japanese FPSO specialist MODEC.The compressor trains will be installed aboard the FPSO that will be used to produce oil for Equinor at the Bacalhau field…

Cenovus to Cut Up To 25% of Workforce after Husky Merger

16 hours ago

Cenovus Energy Inc plans to cut 20% to 25% of its workforce after it acquires Husky Energy Inc, the companies said on Tuesday, as Cenovus begins to slash costs in the Canadian oil patch's biggest merger in nearly four years.The job losses could total about 2…

Equinor Takes $2.9B Hit in Asset Write-offs

16 hours ago

Norway's Equinor wrote off $2.93 billion from the value of its assets after cutting its long-term oil and gas price forecasts on Thursday, betting the pandemic and a shift away from fossil fuels will have a lasting impact on markets.The biggest hit came from a $1…

Eidesvik Offshore Nets Vessel Charters with Wintershall Dea, Deme

16 hours ago

Norwegian offshore vessel owner Eidesvik offshore has this week won contracts for two of its vessels, the Viking Princess and the Viking Neptun.On Wednesday, Eidesvik said it had secured a deal with the Norwegian oil firm Wintershall Dea Norge…

Exxon Mobil to Keep Dividend Flat for First Time Since 1982

17 hours ago

Exxon Mobil Corp on Wednesday kept its fourth-quarter dividend flat at 87 cents a share, signaling 2020 will be the first year since 1982 that the U.S. oil producer has not raised its shareholder payout.The largest U.S. oil producer by volume…

Current News

Unique Floating Offshore Wind Design Gets DNV GL Nod

ConocoPhillips Posts Smaller-than-expected Loss

Exxon to Cut 14,000 Jobs as Pandemic Hits Oil Demand

Frequent Hurricane Shutdowns Weigh on US Energy Results

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