Morgan Stanley on Monday cut its first quarter 2022 Brent crude price forecast to $82.50 per barrel from $95 on market expectations that the Omicron coronavirus variant could turn into a major headwind for oil demand.The market appears to be…
Institutional investors advised by J.P. Morgan Global Alternatives, in cooperation with Norwegian offshore services firm Havfram, have signed a letter of intent with China's CIMC-Raffles to build 'a series of next-generation, state-of-the-art wind turbine installation vessels (“WTIV”)…
Oil major BP and Norway's Aker said on Thursday they have jointly sold a 5% stake in Norwegian oil firm Aker BP, cutting their combined holding in the company to 65%.The 18.01 million shares were sold at 310 crowns each, a 10.2% discount to Wednesday's close…
Italian energy group Eni has hired JP Morgan to work on a possible listing of its Vår Energi joint venture which could value the Norwegian oil and gas operator at up to $15 billion, three sources familiar with the matter said.A final decision…
Demand for liquefied natural gas (LNG) is expected to rise by 25 to 50% by 2030, making it the fastest growing hydrocarbon over the next decade, analysts from Morgan Stanley Research said in a note on Monday.Morgan Stanley has raised its long…
Italian energy industry engineering and construction firm Saipem has signed a Memorandum of Understanding (MoU) with the Saudi oil giant Saudi Aramco to explore the possibility of forming a new entity for engineering and construction activities…
GE Renewable Energy said Thursday it has partnered up with Fraunhofer IGCV and voxeljet AG in a research to develop the world’s largest 3D printer for offshore wind applications in order to speed up the production of key components of GE’s Haliade-X offshore wind turbine…
Royal Dutch Shell launched the sale of its stakes in oil and gas fields it does not operate off the coast of Malaysia, according to a document seen by Reuters.The Anglo-Dutch company announced in March that it was considering selling its stakes…
BP and EnBW announced the names of their new offshore wind projects in the Irish Sea off Wales on Wednesday, as well as a dedicated supplier portal for the projects.The two offshore wind farms - named Morgan and Mona - will once built, have a combined potential generating capacity of 3GW…
The tender process for an offshore drilling rig to be used for the drilling of Carnarvon Petroleum's and Advance Energy's Buffalo offshore well in the Timor Sea is nearing completion, and the spud date is scheduled for the fourth quarter of 2021…
'At-scale recycling of wind turbine blades is an important first step towards achieving a zero-carbon, zero-waste offshore wind industry and boosting the UK supply chain by 20,000 jobs, ' the UK-based Offshore Renewable Energy (ORE) Catapult said in a report Wednesday…
ABSG Consulting Inc. (ABS Consulting) has signed an exclusive global licensing agreement to offer an innovative ultrasonic non-destructive testing (NDT) solution that supports expanded use of composite materials on offshore assets to extend service life…
GE Research, GE Renewable Energy, and LM Wind Power, a GE Renewable Energy business were recently selected by the Department of Energy to research the design and manufacture of 3-D printed wind turbine blades.GE said Friday that its business…
Mediterranean Sea-focused oil and gas company Energean has taken Final Investment Decision ('FID') on the Karish North gas development, offshore Israel.The gas discovery was announced in April 2019. In November 2020, DeGolyer and MacNaughton…
Japanese FPSO contractor MODEC's new offshore repair method for FPSO hulls has received approval by the American Bureau of Shipping (“ABS”) as an original standard repair method. The offshore repair method was developed by MODEC and Toray Industries…
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