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 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 reportedly ramping up production in the fourth quarter according to Lundin Energy, a partner in the project, after the government increased its production permit.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…
As crews began returning to U.S. Gulf of Mexico offshore facilities on Thursday, this year's repeated oil and gas production halts were already hitting energy firms' results.Eight named storms entered the U.S. Gulf of Mexico this year, most…
The slowdown of the world economy and plummeting energy consumption have eclipsed most other industry news. Oil exporting countries are coming to terms with limiting production to sustain reasonable prices, and operators are looking for ways to improve efficiency…
Tyra – Denmark’s largest gas and condensate field and main gas processing hub – was, a few years ago, on the verge of being decommissioned, which would have, according to reports back then, wiped out thousands of jobs.The field located 225km west of Esbjerg…
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