Should Japan ever exit the Sakhalin energy projects in Russia and their stakes were acquired by Russia or a third country, this would weaken the effectiveness of Western sanctions and benefit Russia, Japan's industry minister said on Friday…
Belgian offshore installation company DEME said Friday that its 'revolutionary' new offshore installation vessel 'Orion' this week docked for the first time at the company's base near Vlissingen, in the Netherlands.The DP3 installation vessel Orion is equipped with a 5…
Edison Chouest Offshore's affiliate C-Innovation has, through its C-Survey (C-S) division, brought its remote survey operations to the Gulf of Mexico for the first time, after two years of successful operation in Guyana.According to C-Innovation…
Morgan Stanley raised its third-quarter price forecast for Brent by $10 per barrel to $130 citing a 'greater deficit' this year due to lower supply from Russia and Iran, which is likely to outweigh short-term demand headwinds.'The oil market is contending with negative GDP revisions…
Norwegian company CCB Energy which is working to build a green industrial park at the Energy Park in Øygarden municipality, Norway, is partnering up with carbon capture and storage joint venture Northern Lights to develop a CO2 value chain for the local and regional industry in the area…
Italian oil and gas company Eni's renewable energy unit Plentitude said Friday it would invest in EnerOcean S.L., the Spanish developer of the W2Power technology for floating wind power. The deal is structured as a long-term partnership focused…
Offshore installation and decommissioning contractor Allseas has removed the Ninian Northern jacket in the North Sea in a single lift, showcasing its new jacket lifting system installed aboard its giant Pioneering Spirit vessel.In what was the first deployment of the new jacket lifting technology…
Energy giant Shell is in talks with some Chinese companies to sell its stake in a major Russian gas project amid sanctions imposed on Moscow over its invasion of Ukraine, The Telegraph reported on Thursday.The London-listed company is in joint talks with Chinese state-run oil companies CNOOC Ltd…
Norway's crude oil output in March missed the official forecast but gas output exceeded expectations, preliminary data from the Norwegian Petroleum Directorate (NPD) showed on Thursday.Crude oil output fell to 1.74 million barrels per day (bpd) in March from 1…
Belgium-based offshore installation services firm DEME has agreed to sell its jack-up installation vessel ‘Thor’ to the German shipping and logistics company Harren & Partner for an undisclosed fee.DEME has owned the vessel for more than a decade…
Oslo-listed FPSO leasing company BW Offshore has agreed to sell its laid-up FPSO Polvo to BW Energy for $50 million. BW Energy will redeploy the FPSO in Brazil.The transaction is expected to be concluded by July 24, 2023, at the latest. If the transaction is completed before the said date…
UK-based oil and gas company Hurricane Energy earned about $60.5 million from the sale of the latest cargo of oil produced from its Lancaster field offshore the UK.The company said this week that the 28th cargo of Lancaster oil, totaling approximately 524 Mbbls…
Italy's Saipem beat expectations for first-quarter earnings as an upturn in global oil and gas spending lifted the energy contractor's core business, putting it on track for a better year.Adjusted core earnings in the period rose 65% to 145 million euros ($157 million)…
Russian oil giant Lukoil said Friday that Vagit Alekperov had resigned from his position as the President of Lukoil and from Lukoil's board of directors.'The respective notices of resignation were sent today to the chairman of the company’s board of directors…
Dutch offshore installation giant Heerema Marine Contractors has said it has developed a new method for the installation of offshore floating wind structures that doesn't require wet-tow and removes the need for marshaling yards.The company said that…