Global crude oil prices could drop to about $60 per barrel by 2027 as demand growth slows, say oil analysts at Rystad Energy, chopping a third off next year's peak price as demand tumbles.Their outlook is a reassuring message amid recent Wall…
Oilfield services company Petrofac has won a three-year contract extension worth more than US$100 million, in support of Repsol Sinopec Resources UK’s North Sea operations.Under the contract, Petrofac will continue providing operations and maintenance services for Repsol Sinopec in the UK North Sea…
U.S. Deputy Interior Secretary Tommy Beaudreau is stepping down from his role at the end of October, the Interior Department said in a statement on Wednesday, without giving a reason for his departure or saying how the vacancy would be filled…
Workers at Chevron's two liquefied natural gas (LNG) facilities in Western Australia voted to restart strikes on Friday, endorsing a similar move by colleagues at a meeting less than 24 hours earlier.Night-shift workers at Chevron's Gorgon and…
Petrolia Noco has signed an agreement with Vår Energi ASA to acquire Vår Energi’s 12.2575% participating interest in the Brage field offshore Norway with an effective date of January 1, 2023.Net production (12.2575% WI) from the Brage field in the first half of 2023 was 1…
Colombia is proposing to force bidders for offshore wind projects to give a state company a stake in the developments, as part of a wider set of draft modifications to the rules governing the process published this week.The government of President Gustavo Petro…
Global Energy Group (GEG) has been selected by Moray West Offshore Wind Farm to provide preassembly support services for the marshalling of 62 transition pieces (TPs) at the Port of Nigg. The major contract encompasses a broad range of critical onsite services…
Archer Knight, a market intelligence and consultancy firm headquartered in Aberdeen, Scotland, specializing in the offshore energy sector, has appointed Shaun Henry to its board as a non-executive director.'Bringing a wealth of experience from the oil and gas industry…
TotalEnergies has selected Elemental Energies to support what has been described one of the largest subsea decommissioning campaigns to be undertaken in the North Sea.'The decommissioning of the wells portfolio in the Gryphon field [in the…
Italian prosecutors have requested a former senior Eni employee, the now chief of a UK oil firm, and others be sent to trial for allegedly defrauding Eni over the attempted sale of an oil cargo to the company, a document from the Milan prosecutor's office shows…
The chief economist of oil major Equinor said on Wednesday that Europe could reduce carbon dioxide emissions by 70% by 2050, but said oil and gas investments must continue in ordre to keep pace with growth in demand. The CO2 cuts will mainly be due to the region's growth in electrification…
Italy's Saipem, in consortium with Abu Dhabi's National Petroleum Construction Company (NPCC), has signed today a letter of award with ADNOC for an offshore construction contract related to the freshly sanctioned Hail and Ghasha Development Project in the United Arab Emirates…
Abu Dhabi-based oil and gas company ADNOC has reached the final investment decision and award of contracts for the Hail and Ghasha Offshore Development project offshore Abu Dhabi.Hail and Ghasha are part of Abu Dhabi’s Ghasha Concession which is set to produce more than 1…
Trinidad and Tobago on Wednesday launched an auction of 13 shallow-water oil and gas exploration blocks, more than double the number of blocks in its last auction, as the Caribbean nation tries to increase energy supplies for its industrial based…
QatarEnergy confirmed Wednesday it had won a new exploration block offshore Egypt as part of the 2022 EGAS International Bid Round.The results of the competitive bid process were announced by Egypt’s Ministry of Petroleum and Mineral Resources…
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