The value of Norway's sovereign wealth fund, the world's largest, rose to a record 20 trillion crowns ($1.8 trillion) on Friday, doubling its value in just five years as oil and gas revenue flowed in and stock markets rose.Built since 1996 as rainy-day savings…
It was likely a fairly easy decision for OPEC+ to once again delay plans to increase oil output.The soft state of global demand is by itself sufficient reason to justify the decision at this week's meeting of the group to defer winding back some of its production cuts until at least April…
Corio Generation, the UK-based offshore wind developer backed by Australia's Macquarie Group, plans to cut a small number of jobs roles, a company spokesperson told Reuters on Thursday.Ballooning costs due to technical and supply chain problems…
Corio Generation, the UK-based offshore wind developer backed by Australia's Macquarie Group, plans to cut a small number of jobs roles, a company spokesperson told Reuters.Ballooning costs due to technical and supply chain problems and high…
Shell is stepping back from new offshore wind investments and is splitting its power division following an extensive review of the business that was once seen as a key driver of the company's energy transition strategy.The changes are part of…
Equinor has appointed Jens Økland as acting Executive Vice President (EVP) for Renewables, as Pål Eitrheim steps down from the position.Økland will assume his new role from December 6, 2024. He has more than 30 years of experience in Equinor…
Trendsetter Vulcan Offshore (TVO) appointed Russell Collins as Country Manager, Australia, to head up the company’s newly opened office in Perth.“As more demand arises for TVO services in Australia and Southeast Asia, we are investing to make…
A court advisor recommended Tuesday that the auction of shares in Citgo Petroleum's parent company to pay Venezuelan claims needs to be reworked. He acknowledged that a year-long process had been in disarray and needed a fresh start.The U.S…
Donald Trump's transition team is putting together a wide-ranging energy package to roll out within days of his taking office that would approve export permits for new liquefied natural gas (LNG) projects and increase oil drilling off the U…
Doubts are growing over Guyana's pick of a little-known U.S. startup to craft and develop projects to monetize its vast untapped natural gas resources that could cost up to $30 billion. Year-old Fulcrum LNG faces financing hurdles that could derail its selection…
Danos announced that two of its leaders, Melanie Hill and Scott Theriot, have been named to prestigious “40 Under 40” lists for 2024.Melanie Hill, Danos’ general manager of shale production, was honored in Hart Energy’s Oil and Gas Investor Forty Under 40…
Norway's Equinor is trimming 20% of the staff from its renewable energy division and will compete for a smaller number of new projects as it streamlines the business unit, the company told Reuters on Thursday.The global offshore wind sector…
The U.S. judge overseeing an auction of shares in a Citgo Petroleum parent to pay Venezuela-linked creditors on Wednesday proposed major procedural changes to advance a case stalled by wide opposition and lawsuits by creditors in other courts…
The COP29 climate talks in Azerbaijan aim to agree an annual finance target of $1 trillion or more a year to help poorer countries respond to global warming. Some see new taxes as one way to get there. The Global Solidarity Levies Task Force (GSLT)…
The CEO of an independent British oil producer which is buying North Sea assets owned by Shell and Exxon Mobil is being sued by his former employer for allegedly forging documents to steal substantial sums.Viaro Energy CEO Francesco Mazzagatti…
