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…
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…
Serica Energy's Columbus field in the UK North Sea will see its first production start-up delayed due to restricted capacity at Shell's Shearwater platform.The Columbus field development plan, approved in 2018, envisions the reservoir will be…
Swedish independent oil firm Lundin Energy will raise its dividend for 2021 by 25% after its third-quarter operating profit almost tripled from a year ago, the company said on Friday.Lundin's earnings before interest and tax (EBIT) for July-September rose to $1…
Italian energy group Eni on Friday beat expectations with a third-quarter profit that jumped back to pre-COVID levels boosted by higher gas prices.The group swung to an adjusted net profit of 1.43 billion euros ($1.67 billion) from a 153 million euro loss a year earlier and beat a 1…
Norwegian offshore vessel operator Solstad Offshore has won a contract for its construction support vessel Normand Samson.The CSV Normand Samson was chartered by a major oil service firm for a minimum of 350 days, with the possibility to extend for an additional 150 days…
Chinese offshore wind turbine maker MingYang has secured an order to supply its 11MW offshore wind turbine for a floating wind project in Europe.The company said Friday the order was related to an offshore floating wind power pilot project in…
Austrian oil and gas company OMV has agreed to sell its 25% stake in the Wisting offshore oil field in the Barents Sea off Norway, to the Swedish oil firm Lundin Energy for $320 million. OMV, which discovered the oil field in 2013, said it was focusing increasingly on low-carbon projects…
Norway's Aker BP said on Thursday it would increase its dividend payout as third-quarter profits soared on the back of strong oil and gas prices.Earnings before interest and tax (EBIT) for July-September rose to $849 million from $242 million a year ago…
Weak quarterly results and mixed 2022 guidance overshadowed a new business plan from Saipem on Thursday, sending shares in the Italian energy services group down more than 8%.In his first strategy plan, Chief Executive Francesco Caio said Saipem…
Royal Dutch Shell set itself tougher emissions-cutting targets on Thursday, even as it reported a lower-than-expected third-quarter profit of $4.13 billion.The oil major said it would cut absolute emissions from its operations and the electricity it uses…
TotalEnergies' earnings rose sharply in third quarter, the French energy group said on Thursday, as it reaped the rewards of surging power prices and predicted gas prices would remain high in Europe and Asia though next spring.The company's third-quarter adjusted net profit soared to $4…
Finland-based marine equipment and technology provider Wärtsilä will upgrade Siem Offshore's platform supply vessel ‘Siem Pride’ for hybrid engine and battery propulsion. The upgrade will enable the vessel to reduce the number of engines in…
Horisont Energi, a Norwegian company developing a blue ammonia project in Norway that involves offshore carbon storage, has signed a four-year framework deal with logistics and supply company ASCO Norge, with an option to extend it.Horisont…
Allowing Nord Stream 2 to pump Russian gas to Germany will not threaten supplies to the European Union, the German Economy Ministry said on Tuesday, clearing a major hurdle for the disputed pipeline.While the pipeline is ready to start operations…