Offshore Energy News

 

Norway to Offer More Arctic Exploration Blocks

Mar 14, 2019

Norway plans to expand the offshore oil and gas acreage offered to companies under its annual licensing round in so-called predefined areas (APA), oil minister Kjell-Boerge Freiberg said on Thursday.The 2019 APA round will offer 90 new blocks…

BOEM Plans Gulf of Mexico Lease Sale in August

Mar 13, 2019

The U.S. Bureau of Ocean Energy Management (BOEM) has proposed a Gulf of Mexico lease sale for August 2019, Interior’s Assistant Secretary for Land and Minerals Management Joe Balash and BOEM Acting Director Walter Cruickshank announced Tuesday…

Shell Bids to Build Dutch Offshore Wind Farms

Mar 13, 2019

Royal Dutch Shell has teamed up with energy company Eneco and builder Van Oord in a bid to build two wind farms in the Dutch part of the North Sea, the companies said on Wednesday.The tender for the wind farms, with total capacity of 750 megawatts (MW)…

Petronas FLNG Relocates to Sabah

Mar 13, 2019

Malaysian state-owned oil firm Petroliam Nasional Bhd (Petronas) said on Wednesday it had relocated its floating liquefied natural gas facility to the eastern state of Sabah, nearly two years after it began operations.The Petronas FLNG (PFLNG) Satu is now moored in the Kebabangan cluster field…

Orsted Seeks Ways to Avoid Brexit Tariffs

Mar 13, 2019

Denmark's Orsted is looking at ways to avoid potential tariffs on imports of components for its multi-billion pound British offshore wind farms in the event of a disorderly Brexit, the company's UK chief told Reuters.With only 16 days before Britain is due to leave the European Union…

Petrobras Prices $3 Bln in Bonds

Mar 13, 2019

Brazilian oil company Petroleo Brasileiro SA has priced global notes worth $3 billion due in 2029 and in 2049 as it seeks to repurchase shorter-term debt obligations, according to a securities filing late Tuesday.Petrobras, as the state-run company is known…

Trump Requests $200.5 Mln for BSEE, $193.4 for BOEM

Mar 11, 2019

U.S. President Donald Trump's proposed fiscal year (FY) 2020 budget submitted to Congress on Monday includes $200.5 million for the Bureau of Safety and Environmental Enforcement (BSEE) and $193.4 million for the Bureau of Ocean Energy Management (BOEM)…

EC Probes E.ON-Innogy Merger

Mar 11, 2019

The European Commission has opened an in-depth investigation into German utility E.on's  takeover of certain assets from domestic Innogy, saying the transaction may lead to higher prices for consumers.The deal, which is worth a reported €43 billion ($48 billion at today's conversion rate)…

Norway Fund to Sell E&P Firms

Mar 08, 2019

Norway's trillion-dollar sovereign wealth fund, the world's biggest, will sell its stakes in oil and gas explorers and producers but still invest in energy firms that have refineries and other downstream activities, according to a government plan…

Petronas Q4 Profit Skids 21%

Mar 08, 2019

Malaysian state oil firm Petronas said on Friday its fourth-quarter profit slid 21 percent as costs piled up, and warned it will have to chart a way through a volatile, challenging 2019 citing market uncertainties and geopolitical risks.Petronas…

US to Overtake Saudi in Oil Exports

Mar 08, 2019

United States will soon export more oil and liquids than Saudi Arabia, thanks to the continued rise in oil production from US shale plays and the increased oil export capacity from the Gulf Coast.According to Rystad Energy, energy research and business intelligence company…

Oil Edges Up

Mar 07, 2019

Oil prices edged higher on Wednesday, supported by OPEC-led supply cuts and U.S. sanctions against exporters Venezuela and Iran, but gains were capped by falling stock markets and renewed concerns over demand growth.Brent crude futures gained 26 cents…

First US FLNG Project Moving Ahead

Mar 07, 2019

Plans to construct a U.S. floating liquefied natural gas (FLNG) vessel in China, which may also provide funding and buy part of its output, are moving ahead despite trade tension between the countries, an executive at one of the partners said on Thursday…

Australia's Best Option is LNG Imports

Mar 06, 2019

Australia has painted itself into a corner with its natural gas industry and faces the stark reality that there are no easy choices to alleviate the dual problem of a looming supply crunch and the associated higher prices.Australia is far from the first country to find itself with an energy issue…

Oman: Gas Production to Surpass Oil by 2023

Mar 06, 2019

Oman’s gas production levels are set to surpass oil by 2023 thanks to an impressive surge in the development of gas fields in the sultanate, according to Rystad Energy, the independent energy research and consulting firm headquartered in Norway…

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