Higher tax payments and foreign exchange losses pushed Mexico's Petroleos Mexicanos back into the red in the third quarter, even as crude production recovered somewhat, the state oil company said on Thursday.Pemex lost 77.2 billion pesos ($3…
Weston-super-Mare, a seaside town in Somerset, England, has been selected as home to ‘SEE MONSTER’ a decommissioned North Sea offshore platform that will be transformed into a huge public art installation.The platform will be located on the site of the town’s disused former lido…
Oslo-listed offshore cable-solutions provider Oceanteam, which has been in talks over a potential merger with Norway's cable handling equipment provider Passer Group, said Friday that the parties had agreed to discontinue negotiations.Oceanteam…
Offshore drilling rig reactivations have begun as utilization and dayrates continue their rapid recovery, Esgian's Teresa Wilkie writes.We expected it to happen just not necessarily this soon. But now it’s official, several cold-stacked rigs…
Equinor plans to invest 25-35 billion Norwegian crowns ($3-$4.2 billion) to develop the so-called NOAKA oil and gas fields with partners in the North Sea, it said on Friday.The NOAKA (North of Alvheim Krafla Askja) project is set to come on…
Power grid operator TenneT has proposed bringing forward by three years the construction of German power links that could distribute six gigawatts (GW) of offshore wind power from the North Sea, it said on Friday.The proposal, just ahead of the COP26 global climate meeting in Glasgow…
Exxon Mobil on Friday pledged to revive a share repurchase program next year as its earnings outlook improved on quarterly results that topped analysts' estimates.The largest U.S. oil producer posted an adjusted profit of $1.58 a share, beating the Refinitiv estimate by two cents…
The Biden administration on Thursday unveiled fresh steps toward building offshore wind farms in waters off the coasts of Massachusetts, the Carolinas, and in the Gulf of Mexico.The announcement is the government's latest in an aggressive push to expand the nascent ocean industry to every U…
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…
Brazil's state-controlled oil company Petrobras said on Wednesday it has entered the binding phase for the sale of its stakes in the Urugua and Tambau fields in the Santos basin.The two fields belong to the BS-500 concession and are located in the north of the Santos Basin…
Ayman Asfari, until recently CEO of oilfield services firm Petrofac, has with his partners, formed Venterra, a company focused on offshore wind industry services. In a statement on Thursday, Venterra said its plan was to create a global services…
Seismic data firm TGS and oilfield services giant Schlumberger have teamed up in a 3D seismic survey project in the Red Sea, Egypt.TGS said Friday the project would cover around 6,800 square kilometers and would be acquired with long offsets…
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…
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…
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