The Saudi cabinet reaffirmed the right of the kingdom and its neighbor Kuwait to exploit natural resources at a joint, energy-rich, offshore area, the state news agency reported on Tuesday.It also stressed the right of the two countries to develop the Durra natural gas field…
Argentina has extended a concession held by energy firms Total Austral, Wintershall Dea Argentina, and Pan American Sur for 10 more years until 2041, and approved an investment plan for $700 million, according to a government decree published on Tuesday…
The Philippines has the potential to install 21 gigawatt of offshore wind power by 2040, equivalent to about a fifth of its electricity supply by then, according to a study released by the Department of Energy and the World Bank on Wednesday…
ExxonMobil Corp. estimates there will be a $4 trillion market by 2050 for capturing carbon dioxide and storing it underground, the company said in a presentation on Tuesday.That is about 60% of the $6.5 trillion market the U.S. largest crude producer estimates for oil and gas by then…
Romania's OMV Petrom on Wednesday welcomed changes to an offshore gas tax law filed by the government in Bucharest last week as a 'much-needed' step for the development of Black Sea gas.Gas producers have spent 15 years and billions of dollars…
U.S. oilfield services and equipment firm Baker Hughes Co BKR.O on Wednesday reported a higher quarterly profit from a year earlier, but missed Wall Street estimates after facing a 'volatile market' in early 2022 that prompted mixed results across its reporting units…
Offshore seismic services and technology company ION Geophysical has won a five-year contract with Brunei Shell Petroleum Co. (BSP), a joint venture between the Government of Brunei and Shell, for a digital solution to manage marine logistics…
Norway-based offshore support vessel operator Eidesvik Offshore has appointed Arve Nilsen as its new Chief Operating Officer (COO) and Ellen Sofie Ottesen as its new Chief Technology Officer (CTO).Nilsen comes from the position of Technical Manager in Eidesvik with responsibility for technology…
Brazilian oil company Petrobras has brought online the first two wells of the increased oil recovery (IOR) project at Roncador project offshore Brazil, almost five months ahead of schedule and at half of the planned cost, Equinor, Petrobras' partner in the project…
Siemens Gamesa is trying to raise wind turbine prices to cope with lofty raw materials costs and iron out complex internal procedures that have delayed new products and helped trigger a huge quarterly loss, Chief Executive Jochen Eickholt said on Wednesday…
Wood Plc said on Wednesday its Chief Executive Officer Robin Watson plans to retire and the British oilfield services and engineering firm also posted a drop in full-year revenue, sending its shares down as much as 6% in early trade.The London-listed company's revenue for the year ended Dec…
Dutch offshore services provider Boskalis has said it has won a contract for the transportation and installation of the export cables for a large offshore wind farm development. The value of this contract for Boskalis is considered to be ‘significant'…
Danish offshore drilling company Maersk Drilling has agreed to sell its jack-up rig drilling rig Maersk Convincer to ADES for $42.5 million in cash.The benign environment offshore drilling rig is expected to be delivered to ADES after the completion…
Renewable energy company RWE has selected Port of Thorsminde from which to carry out the operation and maintenance of its Thor offshore wind farm. With a planned capacity of 1,000 megawatts (MW) Thor will be Denmark’s largest offshore wind farm to date…
Oil and gas company ConocoPhillips has received license extensions for the production licenses in the Greater Ekofisk Area offshore Norway from 2028 to 2048. Ekofisk, Norway's first commercial offshore oil discovery made in 1969, was brought online in 1971…
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