South Korea's Posco and Malaysia's Petronas Carigali have been awarded a Production Sharing Contract (PSC) for Block PM524, offshore Malaysia.Posco is the operator with an 80 percent stake and Petronas Carigali, a subsidiary of Petronas holds the remaining 20 percent…
Guyana plans to meet an unprecedented growth expected in its power demand by building a new gas-fueled plant and expanding its hydropower capacity, a key step to leave behind fossil fuels for generating electricity, President Irfaan Ali said this week…
Norwegian energy giant Equinor has revealed its preferred floating wind foundation design for full-scale gigawatt (GW) commercial floating offshore wind in Scotland, if successful in ScotWind leasing round in Scotland.Equinor said that the 'Wind Semi' a semi-submersible wind turbine foundation…
Shell Midstream Partners said on Friday that its offshore and onshore crude and product systems will mainly drive its cash delivery.Deepwater projects in the Gulf of Mexico including Vito and PowerNap will flow into the company's systems and not only replenish…
Britain will launch a 160 million pound ($220 million) fund to help developers of floating offshore wind technology as part of efforts to ramp up renewable power and meet climate targets, the government said on Friday.The announcement comes…
Around 30 production floater contracts are now queued up for award over the next 18 months, assuming no major market disruption occurs and the supply chain can absorb the orders within this time frame. That’s the conclusion of an in-depth market analysis just completed by IMA/WER…
Higher tax payments and foreign exchange losses pushed Mexico's Petroleos Mexicanos back into the red in the third quarter, even as crude production recovered somewhat, the state oil company said on Thursday.Pemex lost 77.2 billion pesos ($3…
While maintaining the integrity of power supply, digitalization and the integration of data have been prioritized in the energy transition process, ensuring a robust telecommunications infrastructure is essential for operational success. A well…
Weston-super-Mare, a seaside town in Somerset, England, has been selected as home to ‘SEE MONSTER’ a decommissioned North Sea offshore platform that will be transformed into a huge public art installation.The platform will be located on the site of the town’s disused former lido…
Oslo-listed offshore cable-solutions provider Oceanteam, which has been in talks over a potential merger with Norway's cable handling equipment provider Passer Group, said Friday that the parties had agreed to discontinue negotiations.Oceanteam…
Offshore drilling rig reactivations have begun as utilization and dayrates continue their rapid recovery, Esgian's Teresa Wilkie writes.We expected it to happen just not necessarily this soon. But now it’s official, several cold-stacked rigs…
Equinor plans to invest 25-35 billion Norwegian crowns ($3-$4.2 billion) to develop the so-called NOAKA oil and gas fields with partners in the North Sea, it said on Friday.The NOAKA (North of Alvheim Krafla Askja) project is set to come on…
Power grid operator TenneT has proposed bringing forward by three years the construction of German power links that could distribute six gigawatts (GW) of offshore wind power from the North Sea, it said on Friday.The proposal, just ahead of the COP26 global climate meeting in Glasgow…
Exxon Mobil on Friday pledged to revive a share repurchase program next year as its earnings outlook improved on quarterly results that topped analysts' estimates.The largest U.S. oil producer posted an adjusted profit of $1.58 a share, beating the Refinitiv estimate by two cents…
The Biden administration on Thursday unveiled fresh steps toward building offshore wind farms in waters off the coasts of Massachusetts, the Carolinas, and in the Gulf of Mexico.The announcement is the government's latest in an aggressive push to expand the nascent ocean industry to every U…
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