Russia aims to make the fossil fuel-rich Pacific island of Sakhalin carbon neutral by 2025, and later to extend the ambition to its top oil production province in western Siberia, a deputy prime minister said.Along with the world's other leading…
Russian gas company Novatek has signed heads of agreement with Glencore for the long-term supply of LNG from the Arctic LNG 2 project.The agreement, signed Wednesday at Saint-Petersburg International Economic Forum, established the key commercial terms for the long-term supply of more than of 0…
Oil and gas drilling and engineering firm KCA Deutag said Wednesday it had secured $550 million worth of platform drilling contracts.KCA Deutag said the deals added 13 years to its contract backlog. According to the company, the agreements include…
Chevron Corp, the last major U.S. oil company still operating in Venezuela, received a new U.S. government license allowing it to remain in Venezuela until Dec. 1, the Treasury Department said on Tuesday.The United States beginning in 2019 imposed…
Harvey Gulf, an offshore vessel owner focused on the Gulf of Mexico region, said Wednesday it had appointed Jon Holvik, formerly with Siemens Energy, as Executive Vice President, Business Development.Holvik has been brought on board to enhance…
Turkish President Tayyip Erdogan said late on Tuesday he would announce 'good news' regarding natural gas reserves in the Black Sea on Friday.In one of the world's biggest finds last year, Turkey said it discovered 405 billion cubic meters of natural gas in the Black Sea's Sakarya field…
Despite projected demand recovery post-2020, the global offshore support vessel (OSV) market continues to face a utilization challenge, a joint research by Braemar ACM Shipbroking (Braemar) and Westwood Global Energy Group has shown.According to the press statement released Wednesday…
Oilfield services and technology company Schlumberger has announced an enterprise-scale deployment of advanced digital solutions for the Malaysian oil and gas giant Petronas, to speed up the oil firm's field development planning.According to Schlumberger…
Subsea Integration Alliance, a partnership between Subsea 7 and Schlumberger's OneSubsea, has officially received the contract for the delivery of subsea equipment and flowlines for Equinor's recently sanctioned Bacalhau field development offshore Brazil…
Investment in energy is on track to recover by nearly 10% in 2021 as the world emerges from the COVID-19 pandemic, the International Energy Agency (IEA) said on Wednesday, but spending will fall far short of meeting urgent climate goals.More of the $1…
Portugal's Galp Energia will sharpen its focus on renewable energy and limit fossil fuel spending to already approved developments, resulting in a 20% cut in five-year capital expenditure, the company said on Wednesday.Oil and gas company Galp is following a broader trend…
Nigeria has awarded the rights to develop marginal oilfields to 50% of the 161 firms shortlisted after they met all the conditions, the petroleum regulator said on Tuesday.Nigeria is looking to production from the fields to bolster state finances and increase local participation in the oil sector…
Thousands of new oil wells and hundreds of new oilfields will be needed to meet global demand even if it falls sharply towards the middle of the century, Oslo-based consultancy Rystad Energy said last Friday.Its analysis stands in sharp contrast…
Neptune Energy on Wednesday said it had made digital twins of five of its operated offshore platforms in the Dutch, Norwegian, and UK North Sea, in a move that will help reduce costs, emissions, and save time on inspection works.This will enable…
Austrian oil and gas company OMV has appointed Alfred Stern (56) as the new Chairman of the Executive Board and CEO of OMV. He will assume the position with effect from September 1, 2021, for a three-year period with an extension option for a further two years subject to mutual consent…
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