Business minister Kwasi Kwarteng has written to the North Sea oil and gas industry asking it to set out a clear plan to reinvest its profits into British energy projects, his department said on Saturday.Energy prices have hit record highs this…
Offshore installation services firm Subsea 7 said Friday it had won a substantial contract in West Africa.Subsea 7 defines a substantial contract as being between $150 to $300 million.In a brief statement in which it didn't reveal much, Subsea 7 said the contract was for the engineering…
TotalEnergies could up to double its share buybacks this quarter, it said on Thursday, after soaring oil and gas prices as a result of Russia's invasion of Ukraine drove a sharp rise in quarterly earnings.The French oil and gas major, which is bolstering its renewables and electricity portfolios…
Shell Midstream Partners LP said on Thursday that volumes on its Mars oil pipeline system rose during the first quarter, as repairs completed in the wake of Hurricane Ida allowed it to run at normal operating levels.The Mars pipeline system…
Denmark's Ørsted has no intention of opening a rouble account in Russia to accommodate Moscow's demand for gas payments in the Russian currency, the energy firm's CEO said on Friday, but declined to comment on payment in other currencies.Ørsted…
U.S. National Ocean Industries Association has welcomed this week's news that the U.S. government is looking to open more areas - off Oregon and in the Central Atlantic - for offshore wind development, but has also called for a 'legislative…
Exxon Mobil Corp doubled its first-quarter per-share profit, it said on Friday, but the results fell short of Wall Street estimates, even excluding a $3.4 billion writedown from its withdrawal from Russia.The top U.S. oil producer tripled its buyback program…
Austrian oil and gas group OMV reported better-than-expected first-quarter results on Friday as higher market prices and gains across all units more than offset a hit from impairments related to the discontinued Nord Stream 2 project.OMV said its adjusted operating income grew to 2…
Chevron Corp's first-quarter profit nearly quadrupled from the same period a year ago, easily surpassing Wall Street's forecasts as oil and gas prices surged following Russia's invasion of Ukraine.The second-largest U.S. oil producer on Friday posted adjusted earnings of $6…
Work on the Baltic Pipe project in the North Sea has been completed, and the pipeline is ready to ship Norwegian gas to Denmark, info on the project's website shows.Baltic Pipe is a strategic EU infrastructure project led by Danish and Polish…
Malaysian oil and gas company Petronas has withdrawn from Blocks M12, M13, and M14 located in the Yetagun field, offshore Myanmar.'The decision was made following a thorough techno-commercial review in alignment with Petronas' asset rationalization…
Following the winter break, works have restarted on the construction of the Yunlin offshore wind farm in Taiwan.The UAE-based National Petroleum Construction Company (NPCC) will bring the heavy lift vessel DLS 4200 as their fleet’s flagship from Abu Dhabi into Taiwanese waters for the work…
BASF said it has given up efforts to separately list its oil and gas business Wintershall Dea via an initial public offering (IPO) for now due to the joint-venture's exposure in Russia.'We want to list the company on the stock exchange. Wintershall…
Gulf Marine Services, a provider of jack-up support vessels for the global energy industry, said Friday it had won a two-year contract for one of its K-Class (smaller) vessels.The contract with an unnamed National Oil Company in the MENA region…
Norwegian offshore shipping company Havila Shipping has agreed to sell platform supply vessels Havila Aurora and Havila Fortune for an undisclosed sum.Havila Aurora was delivered on Thursday to the buyer, which Havila did not identify. Havila…