Industry News

 

US Subsea Equipment Firm Sets Up Shop in Brazil

Mar 04, 2025

Houston-based subsea equipment and services provider for oil and gas sector Koil Energy has established a new technology center for manufacturing and service support in Macaé, marking its expansion into Brazil.Macaé is generally considered to…

China's CNOOC Set for Refinery Expansion Startup After $2.7B Upgrade

Mar 04, 2025

China National Offshore Oil Company (CNOOC) is slated to launch an upgraded joint-venture refinery complex around June, marking the state-controlled producer's further expansion into refining and petrochemicals, industry sources said.CNOOC aims…

Libya Plans First Oil Exploration Bidding Round in Almost 20 Years

Mar 04, 2025

Libya plans its first bidding round for oil exploration in more than 17 years, Masoud Suleman, acting Chairman of the National Oil Corporation (NOC), announced in a televised address on Monday.Libya is Africa's second-largest oil producer and…

Germany Dismisses Talks Over Nord Stream 2 Gas Pipeline Revival

Mar 04, 2025

Germany's energy independence from Moscow is crucial and it is not in talks with Russia over a 'possible pipeline-based supply of Russian gas' via the partly damaged Nord Stream 2 pipeline, the economy ministry said on Monday.The ministry was…

Shell’s Integrated Gas and Upstream Director to Step Down

Mar 04, 2025

Shell has announced changes to its executive committee and leadership structure, as part of which the company’s Integrated Gas and Upstream Director Zoë Yujnovich will step down end of March 2025.After more than a decade of service with Shell…

Akastor Sells Skandi Peregrino AHTS Vessel for $25M

Mar 04, 2025

Akastor, through its fully-owned subsidiary DDW Offshore, has entered into a binding agreement to sell Skandi Peregrino anchor handling tug supply (AHTS) vessel.Skandi Peregrino AHTS has been sold for the purchase price of $25 million to an unnamed buyer…

Vår Energi Drills Dry Well in North Sea

Mar 04, 2025

Vår Energi and its partners have drilled a dry well on the Kokopelli prospect, south of the Sleipner area, in the North Sea.The wildcat well 7/1-4 S is located in the North Sea in production license 1190. Two exploration wells have previously been drilled within this area…

Yunlin Offshore Wind Farm in Taiwan Becomes Fully Operational

Mar 04, 2025

Yunneng Wind Power joint venture partners have inaugurated the Yunlin offshore wind farm in Taiwan, which is now fully operational and generating renewable electricity at its planned capacity of 640 MW.Yunneng Wind Power joint venture consists of TotalEnergies with 29…

Equinor Finds Oil at Mistral Exploration Well in Norwegian Sea

Mar 04, 2025

Equinor and its partners have made an oil discovery at Mistral exploration well, located in the southern Norwegian sea.The well 6406/6-7S in the PL1119 license was drilled using Odfjell Drilling’s Deepsea Atlantic drilling rig.The well was drilled to a vertical depth of 4…

Global Offshore Wind Prospects to Rebound in 2025

Mar 03, 2025

The global offshore wind industry is poised for a rebound in 2025, with capacity additions expected to reach 19GW and sector-wide expenditure projected to hit $80 billion, according to research from Rystad Energy.This recovery follows a slowdown at the end of last year…

Fugro Restarts US Hydrocarbon, LNG Projects After Trump Win

Mar 03, 2025

Dutch geological data specialist Fugro has restarted multiple projects in the U.S. hydrocarbon and LNG sectors since Donald Trump's election and is optimistic about offshore wind development in Asia and Europe, its CEO told Reuters on Friday…

Bad Weather Delays Startup of Equinor's Johan Castberg Oil Field

Mar 03, 2025

The startup of oil production from Equinor's Arctic Johan Castberg field has been delayed again due to bad weather, a spokesperson for the Norwegian energy company said on Monday.Castberg is set to become the second producing oilfield in the…

Germany Says Nord Stream 2 Pipeline Cannot Be Used

Mar 03, 2025

The Nord Stream 2 Baltic Sea gas pipeline is not certified and therefore could not be used, a German government spokesperson said on Monday in response to a report about potentially bringing the pipeline on stream.'The Nord Stream 2 pipeline is not certified and therefore could not be used at all…

Australia Grants Feasibility Licenses for 3.2GW Offshore Wind Projects

Mar 03, 2025

The government of Australia has granted feasibility licenses for two offshore wind projects with a total planned capacity of 3.2 GW, to be developed off the coasts of New South Wales and Victoria.The feasibility licenses have been awarded for the Southern Ocean and Hunter zones…

Valeura Wraps Up Infill Drilling Campaign in Gulf of Thailand

Mar 03, 2025

Canada-based oil and gas company Valeura Energy has completed an infill drilling campaign at the Manora field, offshore Gulf of Thailand.Manora field is located in license G1/48, where Valeura Energy holds a 70% operated working interest.Valeura drilled a five well program…

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