In July 2020, just a few months after the COVID-19 pandemic started to spiral out of control, Shell CEO Ben van Beurden declared world oil demand may have passed its peak - all but condemning his company's core business to eventual obscurity…
Russian oil company Lukoil said Friday it had completed the acquisition of the 50% operator interest in the Area 4 project in Mexico through the acquisition of the operator's holding company. The proposed acquisition was first announced in July 2021…
The Biden's administration's sale of offshore wind development rights off the coasts of New York and New Jersey surged past all expectations on Thursday to reach more than $3.3 billion, with bidding still not complete.The auction, which began on Wednesday and is due to resume on Friday morning…
Subsea Expo 2022, a subsea industry event held in Aberdeen this week, has been, according to the organizers, hailed a major success after more than 4,000 visitors attended and exhibitors reported doing “real” business with strong interest in their products and services…
Matthias Warnig, the chief executive of Nord Stream 2 AG who has been targeted by U.S. sanctions, is stepping down from the supervisory board of German soccer club FC Schalke 04, the club said on Twitter.It said Warnig had informed the club that he was resigning with immediate effect…
Oilfield services giant TechnipFMC expects more than 350 subsea tree orders to be made globally in 2022, a level which it says has not been seen in years.The oilfield equipment and services firm saw its full-year 2021 inbound orders in the subsea segment hit the $5 billion figure…
The New York Bight auction is made up of six leases containing an estimated 5.6 GW of bottom-fixed offshore wind capacity that can serve New York and New Jersey offshore wind requirements, amongst others. Till now, New York and New Jersey have secured a combined capacity of 8…
MAATS Tech has been named subsea company of the year and David Bruton, Director Subsea at Crondall Energy, was recognized for his outstanding contribution to the industry at the Subsea Expo Awards held Wednesday night in Aberdeen, UK. Organized by the Global Underwater Hub (GUH)…
Italian oil company Eni has started oil production via the Miamte FPSO at the Miztón field, offshore Mexico The field sits in Area 1 in the Gulf of Mexico, about 10 kilometers offshore the Tabasco coast. Upon its arrival in Mexico in January 2022…
Offshore installation giant Subsea 7 and its technology partner FLASC have won £471,760 (~$631,854) grant from the UK government Department for Business, Energy and Industrial Strategy (BEIS) to further develop an innovative offshore energy storage system…
The United States on Wednesday imposed sanctions on the company in charge of building Russia's Nord Stream 2 gas pipeline, expanding penalties on Moscow after it recognized two breakaway regions in eastern Ukraine.The sanctions, which target the Nord Stream 2 AG company and its CEO…
Troubled energy contractor Saipem will cut costs, sell assets, and scale back green ambitions to focus more on its core oil and gas business after plunging deep into the red last year.The Italian group stunned investors in January when it downgraded…
Iberdrola is more focused on striking partnerships in the offshore wind power generation business than on any potential spinoff, Chief Executive Ignacio Galan said on Wednesday.Asked about the possibility of spinning off that part of the business…
The largest-ever U.S. sale of offshore wind development rights - for areas off the coasts of New York and New Jersey - attracted a record $1.5 billion in bids on Wednesday, supporting President Joe Biden's plan to create a new domestic industry…
Oil prices surged on Thursday, with Brent breaching $100 a barrel for the first time since 2014, after Russia attacked Ukraine, exacerbating concerns that a war in Europe could disrupt global energy supplies.After Russian President Vladimir…
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