Norway will allocate 10 billion crowns ($1.16 billion) over five years towards renewable energy investments in developing countries to cut greenhouse gas emissions, the government said on Wednesday and urged private investors to work with it…
The cost of oil and gas decommissioning in the UK has decreased for the fourth year in a row since the cost was first estimated in 2017, when the Oil and Gas Authority set a target of a 35 percent cost reduction, with the goal of reducing the…
Two offshore wind manufacturers will invest more than 180 million pounds ($249 million) in an offshore wind hub on the northeast coast of England, and get funding from a state-backed scheme, the British government said on Wednesday.In March…
Oilfield services company McDermott has won a contract to deliver subsea systems for Santos' Bayu Undan field in the Timor Sea.The contract is for a Subsea, Engineering, Procurement, Construction and Installation (EPCI) of equipment at the Bayu-Undan Infill Well Phase 3C Project…
Ørsted, the world's largest developer of offshore wind power farms, is launching the sale of Hornsea Two in a deal that is expected to value the British offshore wind park at roughly 3 billion euros ($3.54 billion), including debt, people close to the matter said…
Scottish tidal energy technology company Sustainable Marine said Wednesday its new turbine rotors have proven they can survive for two decades in the field, following rigorous tests at a marine energy center in Ireland.The company teamed up…
Malaysia's state oil firm Petronas has signed a 10-year liquefied natural gas (LNG) supply agreement with a subsidiary of China's offshore oil and gas major CNOOC Ltd valued at about $7 billion, the firm said on Wednesday.Petronas, or Petroliam Nasional Berhad…
Norway's Kongsberg Maritime has secured contracts with Chinese shipbuilder COSCO Shipping (Qidong) Offshore for the delivery of its Wind Turbine Installation Vessel (WTIV) technology.Under the deal worth 49 million euros (around $58 million)…
Oslo-listed floating wind tech developer BW Ideol has signed a deal with Japan's largest oil refiner Eneos to develop a site-specificcommercial-scale floating offshore wind farm off Japan.The floating wind farm would be based on BW Ideol's patented Damping Pool technology…
Royal Dutch Shell on Wednesday said it would boost its returns to shareholders via share buybacks or dividends after a sharp rise in oil and gas prices helped it reduce debt.It will increase its distribution to shareholders to 20% to 30% of cash flow from operations beginning in the second quarter…
From offshore wind farms in Britain to floating solar power plants in Vietnam, about 13,000 renewable energy projects in nearly 50 countries are waiting for finance - and could create up to 10 million green jobs, consultancy EY-Parthenon said on Wednesday…
Norwegian oil company Equinor has drilled a dry well near the Troll field in the North Sea offshore Norway.The company drilled the wildcat well 31/11-1 S in the production licence 785 S around 55 kilometers south of the Troll field in the North Sea and 100 kilometers southwest of Bergen…
Australian oil and gas company Woodside Energy has completed the acquisition of the entire participating interest of oil company FAR in the offshore area in Senegal containing the Woodside-operated Sangomar development. The purchase price for Far's stake in the Rufisque Offshore…
Oilfield services firm TechnipFMC said Tuesday it had won a 'significant' Engineering, Procurement, Construction, and Installation contract for Tullow's Jubilee South East development, offshore Ghana. For TechnipFMC, a “significant” contract is between $75 million and $250 million…
Allseas' giant Pioneering Spirit offshore installation and decommissioning vessel has earlier this month removed 2500-t Valhall Quarters Platform (QP) lower jacket out of the water in the North Sea, off Norway.'The jacket on Valhall QP has now been removed and is on its way to Stord for recycling…