Australia's threat to curb exports of liquefied natural gas (LNG) in order to ensure domestic supplies is another unwelcome pressure on a tight global market for the super-chilled fuel.But it's not an immediate threat, and it may also not materialize at all…
Oil prices are proving resilient to global economic recession fears and have outperformed major equity indices and the U.S. dollar so far this year as Western sanctions on Russia further limit supplies to an already tight market.The two major…
Germany's Wintershall Dea started production at its Nova oil and gas field in the Norwegian sector of the North Sea, the company said on Monday.The subsea field, about 120 kilometers northwest of the city of Bergen, is tied-back to the Neptune Energy-operated Gjoea field…
Shell UK has signed a one year contract, with a year extension option, with Stena Drilling for the use of the Stena Don in the UK North Sea. The contract is due to start in Q2 2023 and will cover well activities, including a combination of plugging…
Chevron Corp increased its share buyback guidance on Friday after posting its biggest quarterly earnings ever, built on strong fuel margins and high prices for natural gas and oil.Chevron's move on potentially boosting share repurchases follows those of other oil majors…
The U.S. Department of Energy (DOE) recently announced $12 million for 12 hydropower and marine energy projects as part of the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) program.These small business-led projects…
Mexican state oil company Pemex expects to post a rare annual profit this year, with two consecutive quarters already in the black and a boost to crude output from new fields, Chief Executive Octavio Romero told Reuters.If achieved, it will be Pemex's first annual profit in more than a decade…
The shipping and maritime logistics arm of Abu Dhabi National Oil Company (ADNOC) is acquiring Zakher Marine International (ZMI), adding 24 jack-up barges and 38 offshore support vessels to its fleet. ZMI is an Abu Dhabi-based owner and operator of offshore support vessels…
BP has reserved Yinson's Nganhurra floating, production storage and offloading (FPSO) vessel for use on its proposed 10-well subsea Palas, Astrea and Juno oil fields (PAJ Project), on Block 31, offshore Angola.Under an agreement signed between BP and Yinson…
Engineering firm Worley has been awarded a framework agreement by Flotation Energy for pre-feasibility study services to Flotation Energy’s Seadragon project, a 1,500 MW offshore wind farm off the coast of Gippsland, Victoria, Australia.Seadragon…
Eni, with its partners in the New Gas Consortium, has taken a final investment decision in Angola's first non-associated gas development project, the development of the Quiluma and Maboqueiro (Q&M) fields.The project includes two offshore wellhead platforms…
Shell on Thursday reported a second quarter profit of $11.5 billion, smashing its previous record just three months earlier, lifted by a tripling of refining profits and strong gas trading.The company also announced a share buyback program of $6 billion for the current quarter…
New York is seeking renewable energy to power at least 1.5 million New York homes in its third offshore wind solicitation, Governor Kathy Hochul said on Wednesday, as the state ramps up development of the industry.Administered by the New York State Energy Research and Development Authority…
Equinor said it will return an additional $3 billion to shareholders after reporting better-than-expected second-quarter profit on the back of soaring gas prices fuelled by the war in Ukraine. The company boosted gas supplies to Europe by 18% in the April-June period compared to a year ago…
Exxon Mobil Corp said on Tuesday it has made two new oil discoveries offshore Guyana and that it has already exceeded its original year-end daily production target for the South American country.The announcements are part of Exxon's efforts…