The Philippines has the potential to install 21 gigawatt of offshore wind power by 2040, equivalent to about a fifth of its electricity supply by then, according to a study released by the Department of Energy and the World Bank on Wednesday…
ExxonMobil Corp. estimates there will be a $4 trillion market by 2050 for capturing carbon dioxide and storing it underground, the company said in a presentation on Tuesday.That is about 60% of the $6.5 trillion market the U.S. largest crude producer estimates for oil and gas by then…
U.S. oilfield services and equipment firm Baker Hughes Co BKR.O on Wednesday reported a higher quarterly profit from a year earlier, but missed Wall Street estimates after facing a 'volatile market' in early 2022 that prompted mixed results across its reporting units…
Norway-based offshore support vessel operator Eidesvik Offshore has appointed Arve Nilsen as its new Chief Operating Officer (COO) and Ellen Sofie Ottesen as its new Chief Technology Officer (CTO).Nilsen comes from the position of Technical Manager in Eidesvik with responsibility for technology…
Brazilian oil company Petrobras has brought online the first two wells of the increased oil recovery (IOR) project at Roncador project offshore Brazil, almost five months ahead of schedule and at half of the planned cost, Equinor, Petrobras' partner in the project…
Siemens Gamesa is trying to raise wind turbine prices to cope with lofty raw materials costs and iron out complex internal procedures that have delayed new products and helped trigger a huge quarterly loss, Chief Executive Jochen Eickholt said on Wednesday…
Dutch offshore services provider Boskalis has said it has won a contract for the transportation and installation of the export cables for a large offshore wind farm development. The value of this contract for Boskalis is considered to be ‘significant'…
Danish offshore drilling company Maersk Drilling has agreed to sell its jack-up rig drilling rig Maersk Convincer to ADES for $42.5 million in cash.The benign environment offshore drilling rig is expected to be delivered to ADES after the completion…
Oil and gas company ConocoPhillips has received license extensions for the production licenses in the Greater Ekofisk Area offshore Norway from 2028 to 2048. Ekofisk, Norway's first commercial offshore oil discovery made in 1969, was brought online in 1971…
PetroRio has terminated the proposed sale of its stake in the Manati field in Brazil to Gas Bridge.The companies had signed a sale and purchase deal (SPA), however, PetroRio said Wednesday it had formally notified Gas Bridge S.A. of the SPA termination…
Oilfield services firm TechnipFMC has said it has won a significant integrated Engineering, Procurement, Construction, and Installation (iEPCI) contract with Wintershall Dea Norge AS for its Maria revitalization project, offshore Norway. For TechnipFMC…
Oilfield services firm Halliburton posted an 85% rise in first-quarter adjusted profit on Tuesday as a rally in crude prices boosted demand for its services and equipment.Crude futures climbed to their highest level in more than a decade during…
Navitas Petroleum has agreed to farm into the Sea Lion oil field development project offshore the Falkland Islands. In January 2020, Premier Oil, as the Sea Lion operator, and Rockhopper, as the partner in the project, signed non-binding heads of terms with Navitas Petroleum…
Offshore installation company Jan De Nul Group has secured a contract with Sumitomo Electric for the installation of two subsea HVDC cables and one fiber optic cable that will link the existing electricity grids in Ireland and the United Kingdom…
Danish offshore drilling company Maersk Drilling has won a contract extension for its ultra-deepwater semi-submersible rig Maersk Deliverer with Inpex in Australia.The extension, of an undisclosed value, is for drilling services at the Ichthys field in the Browse Basin offshore Western Australia…