More global oil production curtailments will be needed to reduce the gap between supply and demand and normalize the oil market, the chief executive of Norway's Equinor said on Thursday.Eldar Saetre, who led the company through the previous market downturn in 2014-2016…
Franco-American oil services firm TechnipFMC Plc is putting on hold plans to split itself into two due to turbulence in financial markets linked to the coronavirus outbreak, it said on Sunday.The group, created three years ago via the merger of Technip and FMC…
Global offshore support vessels supply base (OSB) market to reach around USD 6400 million by 2026 and is increasing at a CAGR of 5.4% during forecast period.According to a report by Facts & Factors, an increase in offshore investments in emerging…
Guyana's government on Wednesday launched a search for a company to market its share of crude produced at the offshore Liza well, where an Exxon Mobil Corp-led consortium began producing oil in December.The government is entitled to a share of the oil produced…
The market for Offshore Supply Vessel (OSV) is expected to grow at a CAGR of roughly 8.3% over the next five years, will reach US$ 25 billion in 2023, from US$ 15.5 billion in 2017, according to a new study.The Anchor Handling Tug Supply (AHTS) vessels segment accounted for the largest share…
Global Offshore Decommissioning Market, valued approximately at USD 5.84 billion in 2018, is anticipated to grow with a growth rate of more than 4.71% over the forecast period 2019-2026.Growing number of aging offshore oil and gas platforms…
The global wind power industry is expected to install more than 626,800 MW of new capacity over the next decade, said a report.According to a report from Navigant Research, this new capacity represents a market worth more than $92 billion in 2019 and more than $1 trillion over the forecast decade…
Matthew Tremblay, ABS SVP, Global Offshore Markets, discusses the course ahead for the burgeoning US offshore wind market.
Offshore wind industry is set to gain a foothold in new markets in the next five years, with the Asian markets playing a significant role.China has significant ambition for the build-out of offshore wind – and added more capacity in 2018 than any other country…
The floating production systems market worldwide is projected to grow by US$85.1 Billion, driven by a compounded growth of 19.5%.Floating production storage offloading (FPSO), one of the segments analyzed and sized in this study, displays the potential to grow at over 19…
The global offshore wind market grew nearly 30% per year between 2010 and 2018, benefiting from rapid technology improvements and about 150 new offshore wind projects are in active development around the world.Europe in particular has fostered the technology’s development…
The offshore decommissioning market is estimated to be valued at USD 6.2 billion in 2019 and is projected to reach USD 8.9 billion by 2027, at a CAGR of 4.8% during the forecast period.The global offshore decommissioning market is dominated…
Engineering and project management consultancy Atkins, together with law firm K&L Gates LLP, has released an updated Offshore Wind Market Handbook to help guide investors through technical and regulatory issues in the US offshore wind market…
Lower oil prices will push the global oilfield services (OFS) sector into a recession in 2020 after three successive years of growth, according to Rystad Energy.In a new sector outlook update, Audun Martinsen, head of oilfield services research at Rystad Energy…
The subsea market in 2019 will experience year-on-year growth for the first time since 2014. But the positive outlook is vulnerable to any significant decline in oil prices over the next few years, according to analyst Rystad Energy.“We expect the subsea market to thrive during the coming years…
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