Oslo-listed offshore cable-solutions provider Oceanteam, which has been in talks over a potential merger with Norway's cable handling equipment provider Passer Group, said Friday that the parties had agreed to discontinue negotiations.Oceanteam…
Offshore drilling rig reactivations have begun as utilization and dayrates continue their rapid recovery, Esgian's Teresa Wilkie writes.We expected it to happen just not necessarily this soon. But now it’s official, several cold-stacked rigs…
Equinor plans to invest 25-35 billion Norwegian crowns ($3-$4.2 billion) to develop the so-called NOAKA oil and gas fields with partners in the North Sea, it said on Friday.The NOAKA (North of Alvheim Krafla Askja) project is set to come on…
Power grid operator TenneT has proposed bringing forward by three years the construction of German power links that could distribute six gigawatts (GW) of offshore wind power from the North Sea, it said on Friday.The proposal, just ahead of the COP26 global climate meeting in Glasgow…
Exxon Mobil on Friday pledged to revive a share repurchase program next year as its earnings outlook improved on quarterly results that topped analysts' estimates.The largest U.S. oil producer posted an adjusted profit of $1.58 a share, beating the Refinitiv estimate by two cents…
The Biden administration on Thursday unveiled fresh steps toward building offshore wind farms in waters off the coasts of Massachusetts, the Carolinas, and in the Gulf of Mexico.The announcement is the government's latest in an aggressive push to expand the nascent ocean industry to every U…
Norwegian oil and gas company OKEA, the operator of the giant Draugen platform off Norway, is working on a project that will see the offshore oil production facility powered by floating wind turbines.The news was shared by the recently formed…
Brazil's state-controlled oil company Petrobras said on Wednesday it has entered the binding phase for the sale of its stakes in the Urugua and Tambau fields in the Santos basin.The two fields belong to the BS-500 concession and are located in the north of the Santos Basin…
Chevron Corp on Friday posted its highest quarterly profit in eight years on surging oil and gas prices and as a recovery in motor fuel demand that boosted refining margins.The strong results came a day after top executives from major oil companies were grilled by U…
Evac Group, a company specializing in integrated water and waste management systems, as well as corrosion-protection systems, has named Björn Ullbro as President, Marine & Offshore business area at Evac Group. Ullbro joins Evac from Wärtsilä…
Ayman Asfari, until recently CEO of oilfield services firm Petrofac, has with his partners, formed Venterra, a company focused on offshore wind industry services. In a statement on Thursday, Venterra said its plan was to create a global services…
Norwegian oil and gas company Aker BP has made a minor oil discovery at the Mugnetind exploration well in the North Sea, offshore Norway.According to Longboat Energy, Aker BP's partner in the offshore license PL906 where the well is located…
CNOOC Ltd's unaudited third-quarter revenue grew 64% to 59.7 billion yuan ($9.33 billion) on higher prices and output, the Chinese offshore oil and gas major said on Thursday.The state oil firm said it is mapping out an emissions-cutting roadmap…
Brazil's Petrobras posted third-quarter results on Thursday that smashed profit and margin estimates, less than two hours after President Jair Bolsonaro said the state-run oil company was too profitable and would have to contribute more to society as a whole…
Seismic data firm TGS and oilfield services giant Schlumberger have teamed up in a 3D seismic survey project in the Red Sea, Egypt.TGS said Friday the project would cover around 6,800 square kilometers and would be acquired with long offsets…