South America contains some of the largest deepwater oil reserves in the world, with Brazil alone possessing over an estimated 30 billion barrel of oil equivalent (BOE). In Guyana, ExxonMobil has recently made its 18th deepwater discovery, which…
Oil and gas companies worldwide are taking an axe to their employment rolls, shedding workers to survive what is expected to be a prolonged stretch of weak demand.Exxon Mobil Corp said it will cut its workforce by 15%, or about 14,000 people…
Total trimmed its 2020 investment target on Friday after a sharp drop in third-quarter net profit, though the French oil and gas producer maintained its dividend.The company cut its investment target to $13 billion from $14 billion and said it was keeping a lid on operating costs too…
Onshore wind companies provided the largest revenue stream for the Norwegian renewables industry from sales of equipment, construction and consultancy services in 2019, overtaking hydropower, according to a report published on Friday.Onshore…
Former Telenor CEO Jon Fredrik Baksaas has been appointed as DNV GL’s new chair of the board, the Norwegian-headquartered classification society announced.Best known for his 13-year tenure as president and CEO of the telecoms firm, Baksaas started…
The American Gulf of Mexico is home to impressive industry and even more incredible beauty. Every day, fishermen, conservationists, tour guides, canal and port dredgers, offshore oil and gas workers and countless others go to work in and around the Gulf of Mexico…
Japanese FPSO specialist MODEC says it is working with partners to develop a solution that will reduce the overall cost of floating offshore wind turbines.For some time, floating offshore wind has been something of a niche, but now full-scale demonstrators are in the works…
Chevron on Friday reported an adjusted third-quarter profit as oil prices recovered from spring lows and spending cuts benefited operating results.Chevron and its peers have slashed spending budgets this year on plummeting demand and crude oil…
Tasked to provide the financial power to help Norwegian companies export their wares to the world, Wenche Nistad, CEO of the Norwegian Export Credit Guarantee Agency (GIEK) pulls no punches when asked about the appetite for investment in traditional…
Norway's Johan Sverdrup oilfield, the largest in western Europe, is ramping up production in the fourth quarter after the government increased its production permit, Lundin Energy, a partner in the field, said on Friday.Equinor-operated Sverdrup increased its production capacity to 470…
While societal, political and corporate pressure continue to push innovation on renewable energy, the world's largest wealth fund is apparently having trouble identifying good investment deals in the sector.Norway's $1.1 trillion sovereign wealth fund…
The COVID-19 crisis has created an unprecedented challenge to the offshore sector, one that is truly global in impact but with a shifting picture in different regions, from recovery in some to the threat of a second wave in others. According to Bureau Veritas’ Dawn Robertson…
A unique double rotor floating wind turbine concept has earned a statement of feasibility from classification and certification body DNV GL.This statement, based on DNV GL’s technology qualification services, confirms that the nezzy² floater is designed to state-of-the-art safety…
Oil producer ConocoPhillips, which is buying Concho Resources Inc for $8.3 billion, posted a smaller-than-expected quarterly loss on Thursday as it benefited from a recovery in crude oil prices from pandemic-driven lows.Oil prices began recovering…
ExxonMobil Corp said on Thursday it could cut its global workforce by about 15%, including deep white-collar staff reductions in the United States, as the COVID-19 pandemic batters energy demand and prices.Exxon and other oil producers have…
Subscribe
