Norwegian oil and gas operator DNO has restarted production at its Trym field in the Norwegian North Sea, which is tied-back to Tyra field’s infrastructure, after five-year shutdown.First commissioned in 2011, Trym is expected to contribute 3…
Despite the massive hype surrounding Power-to-X (PtX), most of the world's announced green hydrogen projects lack financing. The market is deemed far too risky by stakeholders.According to the authors of a study from the University of Copenhagen…
The value of Norway's sovereign wealth fund, the world's largest, rose to a record 20 trillion crowns ($1.8 trillion) on Friday, doubling its value in just five years as oil and gas revenue flowed in and stock markets rose.Built since 1996 as rainy-day savings…
It was likely a fairly easy decision for OPEC+ to once again delay plans to increase oil output.The soft state of global demand is by itself sufficient reason to justify the decision at this week's meeting of the group to defer winding back some of its production cuts until at least April…
Brazil's state-run oil firm Petrobras PETR4.SA cut $1.1 billion in planned investments in decommissioning oil and gas platforms in its strategic plan for the 2025-2029 period, compared to what was earmarked in its 2024-2028 plan, the company told Reuters…
National Ocean Industries Association (NOIA) President Erik Milito issued the following statement after the Bureau of Ocean Energy Management (BOEM) released the Draft Programmatic Environmental Impact Statement (EIS) for oil and gas leasing…
Oil prices fell 1% on Friday and were headed for a weekly loss as analysts projected a supply surplus next year despite an OPEC+ decision to delay output hikes and extend deep production cuts to the end of 2026.Brent crude futures were down 85 cents…
The first jacket foundation for the substation of the Coastal Virginia Offshore Wind (CVOW) project has departed from the Danish Port of Esbjerg and is on its way to the United States to be installed at the country’s largest offshore wind farm…
Denmark's latest offshore wind farm tender in the North Sea has failed to attract any bids, authorities said on Thursday, in a further setback for the industry.After a year of challenges, the global offshore wind industry no longer has much…
Sembcorp Industries has signed a Sale and Purchase Agreement (SPA) with Chevron’s Singapore branch to import up to 0.6 million tonnes of liquefied natural gas (LNG) year, starting from 2028.The LNG deliveries will take place over the course of 10 years as agreed by the companies…
Corio Generation, the UK-based offshore wind developer backed by Australia's Macquarie Group, plans to cut a small number of jobs roles, a company spokesperson told Reuters on Thursday.Ballooning costs due to technical and supply chain problems…
Brazil's state-run Pre-Sal Petroleo (PPSA) will hold an oil auction on June 25 for an estimated 78 million barrels, the firm's head of finance Samir Awad said on Thursday.The volume to be auctioned off next year will be more than double what was auctioned off this year…
Norwegian seismic specialist TGS has secured a large 3D streamer contract in the Southern Atlantic.Acquisition is scheduled to begin by the end of 2024.The contract has a duration of approximately 140 days, TGS said, without revealing any additional details…
Offshore drilling contractor Northern Ocean has signed a contract for Deepsea Bollsta semi-submersible rig for work offshore Norway, set for completion before the start of its two-year contract with Equinor.The contract, with unnamed client…
Corio Generation, the UK-based offshore wind developer backed by Australia's Macquarie Group, plans to cut a small number of jobs roles, a company spokesperson told Reuters.Ballooning costs due to technical and supply chain problems and high…
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