In the next few weeks, Saudi Arabia and its OPEC⁺ allies must take a delicate decision about whether to proceed with planned production increases from October, or postpone them because of an uncertain economic outlook.The recent slides in front-month Brent futures prices…
Izomax scored a milestone frame agreement with Shell, a deal that will enable Shell to leverage Izomax's patented AOGV technology to reinvent plant maintenance procedures.The three-year frame agreement allows Shell to fulfill ambitions for…
The safe, timely and cost-efficient decommissioning of offshore infrastructure is one of the big challenges faced by the oil & gas sector. We estimate that the liability currently stands at over $300 billion (real terms), and this will only…
Britain's decision to issue dozens of new oil and gas exploration licences is being challenged in court by a marine conservation organization, which argues ministers unlawfully failed to consider the impact on marine life.Oceana UK is taking…
Oil prices edged lower for a fifth session on Thursday as investors worried about the global demand outlook, however a decline in U.S. fuel inventories limited declines.Brent crude futures LCOc1 slipped 2 cents to $76.03 a barrel, while U.S…
Sentinel Subsea has deployed monitoring systems in Australia to support the decommissioning of subsea assets for a major client in collaboration with Baker Hughes.Two of the company’s passive subsea integrity monitoring systems, WellSentinel™ Coral…
Offshore drilling contractor Northern Ocean announced it has appointed Arne Jacobsen as its new chief executive officer.Jacobsen was previously the CEO of Orion, a joint venture between Hayfin Capital and Transocean, and has experience as a…
Norwegian oil and gas companies should boost investments in exploration and production to slow an expected decline in the country's output in the coming years, the national petroleum industry regulator said in a resource report on Wednesday…
Denmark will delay by at least three more years construction of a planned North Sea energy island to supply renewable power to three million European households, a government minister said on Wednesday, citing rising costs and high interest rates…
BP has selected Exmar Offshore and Audubon Engineering Company to complete engineering and design of a floating production unit (FPU) destined for the British supermajor's deepwater Kaskida development in the U.S. Gulf of Mexico.Exmar Offshore…
Prosafe announced it has secured a contract for one of its semi-submersible accommodation vessels, Safe Boreas.In May, the Oslo-listed company said it was awarded a conditional letter of intent by an undisclosed client for the provision to provide…
Canada-based Northland Power has confirmed a carbon dioxide leak on the Hai Long Changhua onshore substation, part of its offshore wind project in Taiwan.The leak, which stemmed from the substation's fire suppression system, occurred at approximately 10 a…
According to the Norwegian Offshore Directorate's projected scenarios leading up to 2050, the difference between high and low production of oil and gas can amount to nearly an entire government pension fund.Norway still has extensive oil and gas resources on the Norwegian continental shelf (NCS)…
Norway's Vaar Energi has again postponed the startup of its North Sea Balder X oil and gas project, planning to begin output in the second quarter of 2025 rather than by the end of this year, the company said on Wednesday.Plagued by cost overruns and delays…
Aize announced an expansion of the strategic collaboration with Aker BP to include a Software-as-a-service (SaaS) agreement for all relevant facilities.Aize and Aker BP have focused their combined development efforts on two areas: Develop…
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