Offshore Energy News


Trump Administration to Revise Offshore Safety Rules

May 02, 2019

The Trump administration will unveil on Thursday its final plan to roll back offshore drilling safety measures put in place by the Obama administration after the fatal 2010 BP Deepwater Horizon oil spill, the worst in U.S. history, raising concerns…

New Sonatrach CEO: Foreign Partnerships Essential

May 01, 2019

Algeria's state energy company Sonatrach wants to develop its partnerships with foreign firms to boost output and exports, its new chief executive said on Wednesday, comments that could reassure investors a week after his appointment.Algeria…

Orsted Reports Positive Start to 2019

May 01, 2019

Orsted on Wednesday reported higher first-quarter earnings from its offshore wind farms, in a positive sign for the Danish company's focus on renewables after selling its oil and gas business in 2017.Earnings from Orsted's core wind business…

FSRUs, Floating Power Figure in Gas Markets Revival

Apr 30, 2019

With oil prices pushing toward USD 80 dollar on geo-political strife, there’s the expectation of a concurrent rise in world gas prices and regional liquefied natural gas (LNG) projects, judging by some frenetic dealmaking of late.Few things…

Higher Output Cushions BP's Profit Fall

Apr 30, 2019

BP's first quarter profits fell by nearly a third but beat forecasts as lower oil and gas prices and weaker refining margins were partly offset by higher production and stronger trading.The slump in profits marks the first significant dent in…

Ichthys Ramps Up Output

Apr 29, 2019

A tanker carrying liquefied natural gas (LNG) has been floating off Australian waters for nearly two weeks as production at Ichthys project ramps up, industry sources told Reuters.The tanker 'Symphonic Breeze' has been moored at Darwin anchorage…

Aker BP's Q1 Operating Profit Lags

Apr 26, 2019

Norway's Aker BP, an oil firm partly owned by BP, posted on Friday a bigger than expected fall in operating earnings in first quarter, after impairments in the Ula area of the North Sea and higher exploration costs.Chief Executive Karl Johnny…

Europe Leads in Ocean Energy

Apr 26, 2019

European tidal stream installations reached 26.8MW, and wave energy installations 11.3MW in 2018, according to yearly statistics published by Ocean Energy Europe.Europe continues to lead the world in ocean energy deployments, and last year its tidal projects produced record volumes of electricity…

Political Risks Mar Africa's Offshore Grand March

Apr 25, 2019

Political instability, insecurity and marine boundary disputes pose some of the major challenges constraining progress of Africa's upstream offshore oil and gas exploration ambitions at a time when the continent expected to ramp up production from its deep and ultra deepwater investments…

Delek Nearing Deal for Chevron's North Sea Fields

Apr 24, 2019

Israel's Delek Group is close to clinching Chevron's oil and gas fields in the British North Sea, which have a price tag of around $2 billion, sources familiar with the matter told Reuters.Delek, via its North Sea oil and gas operator Ithaca Energy…

Shell Makes Deepwater Find in US GoM

Apr 24, 2019

Shell announced Wednesday it has made a significant discovery at the deepwater Blacktip prospect in the Alaminos Canyon Block 380 in the U.S. Gulf of Mexico.The discovery is located in approximately 1,900 meters water depth in the Alaminos Canyon Block 380…

Eni Q1 Profit Misses Forecast

Apr 24, 2019

Italian energy group Eni stuck to its production growth targets for the year on Wednesday, as it reported profits for the first quarter coming in below market expectations.Adjusted net profit in the quarter rose 4 percent to 992 million euros ($1…

Occidental Tops Chevron's Bid for Anadarko

Apr 24, 2019

Occidental Petroleum Corp on Wednesday started the first takeover battle for a major oil company in years, offering $38 billion for Anadarko Petroleum Corp, a bid that topped a $33 billion offer by Chevron Corp.Both suitors are offering a premium…

US Outlook: Offshore Wind on the Agenda

Apr 24, 2019

While the only commercially operating wind farm offshore the US is off the country’s tiniest state – Rhode Island – many of the larger and more populous states, particularly in the Northeast, are committed to power generated by offshore wind farms…

US Outlook: Deepwater Production Rising

Apr 22, 2019

Currently one in every five barrels produced in the United States comes from the Gulf of Mexico (GoM), and 88% of that output flows from reservoirs in water depths greater than 500 feet.In 2016 the GoM produced 575 million barrels of oil, and in 2017 621 million barrels…

Current News

ROVOP Opens Rotterdam Office

Newpark Eyes Deepwater Opportunities

BMT Unveils New Vessel Designs

Engie, EDP to Form 50-50 Offshore Wind JV

Equinor Dishes $80 Mln Johan Sverdrup Contract

Petrobras Eyes $9 Bln Transfer-of-rights Addendum

Sonardyne Acquires EIVA

FLNG Satu Achieves First LNG at Kebabangan

Interview: Aaron Smith, President & CEO, OMSA

Sif Wins Borssele V Monopiles Deal

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