DNV has released the 7th edition of its Energy Transition Outlook highlighting that global energy-related emissions are still climbing and are only likely to peak in 2024. “The pace of the transition is far from fast enough for a net-zero energy system by 2050…
Realizing the full value of digital solutions far exceeds the capability of technology. The technology exists today to help offshore energy and maritime operators radically improve efficiency and cut costs in equal measure. The real trick to…
Oil and gas company Kosmos Energy has made an oil discovery at the Tiberius exploration well in the U.S. Gulf of Mexico near the Occidental-operated Lucius SPAR production facility.According to Kosmos, the Tiberius exploration well tested a four-way structural trap in the outboard Wilcox trend…
Between 2017-2022 renewables met 51% of new energy demand, while the remaining demand was supplied by fossil fuels, according to DNV’s Energy Transition Outlook.'Renewables are still just meeting increased demand rather than replacing fossil fuels…
U.S. energy major Exxon Mobil said it would acquire Pioneer Natural Resources in a deal valued at $59.5 billion to more than double the company's presence in the Permian Basin, the largest shale play in the U.S.. Once completed, it would be…
NATO will discuss damage to a gas pipeline and data cable running between member states Finland and Estonia, and will mount a 'determined' response if the cause is proven to be a deliberate attack, NATO Secretary General Jens Stoltenberg said on Wednesday…
British satellite communications company Inmarsat said on Wednesday it is nearing an agreement to move some of its ground communications systems from the Netherlands to Greece, resolving a conflict over 5G bandwidth use.The systems based in Burum…
Offshore drilling operations in Lebanon's Block 9 are still ongoing, despite recent land border clashes between Lebanon and Israel, Walid Fayad, Lebanon's energy minister, told Reuters.'It's in everyone's interest to continue as long as there are signs of stability…
A subsea gas pipeline, the Balticconnector, connecting Finland and Estonia under the Baltic Sea has been likely damaged by 'outside activity', the Finnish government said on Tuesday.This is what is known so far:WHAT IS THE BALTICCONNECTOR?The…
A study has shown that existing offshore gas pipelines by Dutch transport pipeline operators Noordgastransport (NGT) and NOGAT can be repurposed for hydrogen transportation before 2030, by rerouting certain gas fields while still providing transportation…
The head of Nigeria's oil regulator said he is 'very optimistic' that oil major Exxon Mobil's asset sale to Seplat Energy can move forward, he told Reuters on Wednesday.The regulator last year refused to approve the $1.28 billion sale, which…
Japanese companies Mitsui O.S.K. Lines (MOL) and MOL Marine & Engineering Co. (MOLMEC) said Wednesday they would launch a training program using the Dynamic Positioning (DP) System simulator, targeting crewmembers of self-elevating platform (SEP) vessels and service operation vessels (SOVs)…
Shares of oil and gas driller ADES Holding climbed almost 30% above its listing price on its market debut in Riyadh on Wednesday after raising $1.22 billion in an initial public offering last month. The shares outperformed the wider Saudi market…
Vard Accommodation said Wednesday it had changed its name to Vard Interiors. The company also said it had secured a new contract with Fincantieri Bay Shipbuilding.'Vard Accommodation is changing its name to Vard Interiors to show more clearly the full range of products within the company…
Aberdeen-based offshore energy industry services firm Three60 Energy said Wednesday it had acquired Pryme Group and Flexlife 'to create a £200 million industrially diversified global business with huge growth potential.'Founded in 2014, Pryme…
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