Energy News

UK Sets Ambitious 40GW Offshore Wind Target

Oct 06, 2020

The UK has set an ambitious target of having offshore wind farms provide more than enough electricity to power every home in the country by 2030, based on current electricity usage. This boosts the government’s previous 30GW offshore wind target to 40GW…

Karoon Aiming to Complete Bauna Field Buy This Month

Oct 06, 2020

Australian oil and gas company Karoon Energy expects to complete the acquisition of the Bauna offshore field from Petrobras by the end of the month.The company, which in July 2019 agreed to buy a 100% stake in the Baúna offshore oil field, in the southern Santos Basin…

EU Welcomes Turkish Drillship Departure From Waters Off Cyprus

Oct 06, 2020

A Turkish drillship has left the area where it was operating southwest of Cyprus and reached Turkey's coast for maintenance in a move the European Union said would help ease tensions in the Eastern Mediterranean.Refinitiv tracking data showed…

Norway: Six Offshore Oil Fields Shut as More Workers Join Strike

Oct 06, 2020

Six Norwegian offshore oil and gas fields were shut on Monday as more workers joined a strike over pay, companies and union officials said.The strike will cut Norway's total output capacity by just over 330,000 barrels of oil equivalent per day…

Chrysaor, Premier Oil Set to Merge

Oct 06, 2020

Two UK-based offshore oil and gas companies Premier Oil and Chrysaor are set to merge in an all-stock transaction. Premier Oil also said that its proposed acquisition of BP's North Sea assets will not take place.In a joint statement released Tuesday…

Exxon to Lay Off 1600 Workers in Europe

Oct 05, 2020

U.S. oil giant Exxon Mobil said on Monday it plans to reduce its European workforce by up to 1,600 across the company's affiliates by the end of 2021 as part of its global review.Exxon said country-specific cuts will depend on the oil major's local business footprint and market conditions…

Equinor to Hire Deepsea Aberdeen Rig for Breidablikk Drilling

Oct 05, 2020

Norwegian oil and gas company Equinor plans to use Odfjell Drilling's Deepsea Aberdeen semi-submersible drilling rig to drill at its Breidablikk project in the North Sea offshore Norway.The Breidablikk field, for which the plan for development and operation was submitted last month…

Logan to Build Offshore Safety Cages for BOP Inspections

Oct 05, 2020

Hempstead, Texas-based oil and gas equipment maker Logan Industries has been awarded a contract to manufacture a set of safety cages to keep offshore technicians safe while inspecting subsea connectors on blowout preventers (BOPs) while on deck…

Chevron Completes Acquisition of Noble Energy

Oct 05, 2020

U.S. oil major Chevron has completed the acquisition of its smaller rival Noble Energy, following the approval by Noble Energy shareholders.The proposed all-stock acquisition was initially announced in July, in what was at the time estimated to be a deal valued a $5 billion…

Lundin Boosts Barents Sea Presence with $125M Worth of Acquisitions

Oct 05, 2020

Swedish oil company Lundin Energy is expanding its oil and gas acreage in Norway through the acquisition of Idemitsu Petroleum's Barents Sea assets, including a stake in the Wisting oil discovery, for $125 million.Under the agreement announced Monday…

Offshore Wind to Power Green Ammonia Project in Netherlands

Oct 05, 2020

Offshore wind developer Ørsted and fertilizer company Yara have entered a joint project aimed at producing ammonia from renewable hydrogen instead of fossil hydrogen in the Netherlands.The two companies say their project had the potential to reduce more than 100…

OHT Orders Its First Wind Turbine Generator Installation Unit

Oct 05, 2020

Offshore Heavy Transport (OHT) has signed the firm order for the construction of an offshore wind turbine generator installation vessel, which will mark the heavy-lift and transportation company's entry into the offshore wind turbine installation business…

Skarpenord to Upgrade Jotun FPSO's Valve Control Systems

Oct 05, 2020

Scana's affiliate company Skarpenord has signed a letter of intent to upgrade valve control systems on Var Energi's Jotun floating storage and production unit in Norway.Skarpenord signed a letter of intent for the valve control systems upgrade with Rosenberg Worley…

Vineyard Wind Names Deputy CEO

Oct 05, 2020

Vineyard Wind, a company with plans to construct offshore wind farms in the U.S., has appointed Sy Oytan as Deputy Chief Executive Officer.Vineyard Wind is, a 50/50 joint venture between Avangrid Renewables and Copenhagen Infrastructure Partners…

Caterpillar to Buy Weir's Oil and Gas Business for $405M

Oct 05, 2020

Weir Group Plc said on Monday it had agreed to sell its oil and gas division to U.S. heavy equipment maker Caterpillar Inc for $405 million in cash, as the engineering company focuses on its mining business.Shares of Weir surged 22.5% to 1,568p…

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