Venezuela's oil exports last year declined due to infrastructure outages, U.S. sanctions and rising competition in its key Asia market despite assistance from ally Iran, according to shipping data and documents.Exports this year are expected…
Britain’s wind farms contributed a record 26.8% of the country’s electricity in 2022 although gas-fired power plants remained the biggest source of power, National Grid data showed on Friday.Britain has a target to reach net zero emissions by…
Murphy Oil Corp said on Friday it failed to encounter commercial hydrocarbons after concluding drilling at a well in Block 5 of the Salina Basin offshore Mexico.The company is the operator and holds a 40% working interest in Block 5, while Malaysia's…
U.S. manufacturers reported business activity declined for the second month running in December and the sector appears to be on the leading edge of a recession. The slowdown in manufacturing and freight has already dampened consumption of diesel and other distillate fuel oils…
Earnings from Shell's liquefied natural gas (LNG) trading operations are likely to have been significantly higher in the fourth quarter of last year despite a sharp output drop owing to plant outages, it said on Friday.Europe's largest oil and…
Offshore exploration and production (E&P) capital expenditures (capex) will shake off the pandemic-induced declines of the past two years and rebound by 20% in 2022, reaching a total $165 billion spent on exploration, wells, and facilities (Figure 1)…
Hess Corp on Thursday said drilling results expected this month could add a seventh platform in Guyana, which would lift the nascent oil producing nation's output above the 1.2 million barrels of oil equivalent per day planned.The U.S. oil producer…
January brings with it the expectation that the United States' first commercial wind farm in federal waters will start generating power by year end, the promise that permitting for close to 5 gigawatts (GW) of projects will be finalized within…
Norway plans to export around 122 billion cubic metres (bcm) of natural gas in 2023, in line with last year’s level, and to maintain this volume for the next four or five years, Minister of Petroleum and Energy Terje Aasland said on Thursday…
Hydraulic tool maker Allspeeds said Thursday it had supplied a Webtool HCV330 hydraulic cutter to subsea equipment rental firm Ashtead Technology.According to the company, this is the largest Webtool cutter manufactured so far, and is designed…
China and the Philippines have agreed to set up a direct communications channel between their foreign ministries on the South China Sea to handle disputes peacefully, they said on Thursday.Their agreement, which contained 14 elements aimed at…
Serica Energy will look to expand beyond the British North Sea following the acquisition of smaller rival Tailwind in order to diversify its revenue sources, its chief executive said.Serica last month announced it had agreed to buy privately…
Ocean Infinity's Armada 7801 has reached Norway after a long journey from Vietnam, where its hull was built last year at the Vard Vung Tau shipyard.'Our first new ship has arrived in Norway, having set sail on its maiden voyage from Vietnam in November…
ClassNK issued an Approval in Principle (AiP) for an ammonia floating storage and regasification barge (A-FSRB) jointly developed by NYK Line, Nihon Shipyard Co., Ltd. (NSY), and IHI Corporation (IHI), reportedly the world's first AiP for A-FSRBs handling ammonia as cargo…
OTSC Offshore Corporation (“TSC”), a subsidiary of CMIC Ocean En-Tech Holding Co., Ltd. has signed a memorandum of understanding with Spain-based offshore vessel and equipment design firm Offshoretronic.The MoU entails bringing together Offshoretronic's…