Global benchmark Brent crude hovered above $81 a barrel on Friday, with bullish sentiment over U.S. demand bolstered by supply disruption in Libya and Nigeria.Both the Brent and U.S. West Texas Intermediate (WTI) contracts had risen for three straight sessions and in early Asian trade on Friday…
Oil benchmark Brent fell on Wednesday, reversing some of the gains made after Saudi Arabia and Russia announced they would extend and deepen output cuts into August, as concerns over a global economic slowdown weighed on market sentiment. Brent was down 46 cents…
Codling Wind Park Ltd. (Ireland) said Thursday it had received confirmation that it was a successful bidder in the first offshore wind CfD auction in Ireland (ORESS 1).The company is a 50/50 joint venture between Fred. Olsen Seawind, wholly owned by Bonheur ASA…
Spanish utility Iberdrola has signed an exclusive deal with Abu Dhabi's Masdar to develop a 476 megawatt (MW) offshore wind farm in German waters in the Baltic Sea, Expansion newspaper reported on Wednesday, citing unidentified market sources…
Thirty-five years ago, on July 6, 1988, one of the offshore oil and gas industry's worst-ever disasters struck - the explosion of the Piper Alpha platform in the UK North Sea. To this day, the disaster is the worst ever in the industry by the number of lives lost…
SBM Offshore has signed the project financing of FPSO Alexandre de Gusmão for a total of US$1.615 billion.The project financing is provided by a consortium of 12 international banks with insurance cover from three international export credit agencies…
French oil and gas services provider Technip Energies on Tuesday agreed to resolve its outstanding matters with the French Parquet National Financier (PNF).The agreement on the form of a Convention Judiciaire d'Intérêt Public (CJIP) was signed on June 22…
The bosses of global energy companies this week urged governments to shift the focus to limiting oil demand to reduce emissions, rather than pressuring producers to curb supply, which they say serves only to increase prices.Some western governments…
Wintershall Dea and its partners Petoro and Sval Energi have received approval from the Norwegian Ministry of Petroleum and Energy (MPE) for their plans to develop the Dvalin North field and the second phase of the Maria field in the Norwegian Sea…
W&T Offshore, an independent oil and natural gas producer with operations offshore in the Gulf of Mexico, on Thursday announced the appointment of Sameer Parasnis to the position of Executive Vice President and Chief Financial Officer, effective July 3…
UK-based offshore vessel owner North Star this week held a naming ceremony for the Grampian Tyne service operation vessel (SOV) which will be deployed at work at the Dogger Bank offshore wind farm in the UK.The vessel was named at a ceremony…
Italian energy group Eni said that synergies from the $4.9 billion acquisition of private equity-backed Neptune Energy could reach $1 billion as the two groups integrate their operations across key geographies. The acquisition announced on Friday…
Analysts at major global banks have been upgrading their share price expectations for Brazil's state-run oil firm Petrobras PETR4.SA as they evaluate that the new leftist government's policies are not as unfriendly to investors as some had feared…
UK-based offshore vessel operator North Star has awarded a new contract to Great Yarmouth-based shipbuilding Alicat Workboats Ltd for the construction of two new offshore wind daughter craft.The hybrid-propulsion workboats 5 & 6, designed by Chartwell Marine…
In the first volume of the World Energy Transitions Outlook (WETO) 2023, the International Renewable Energy Agency (IRENA) calls for raised global ambition in renewables deployment.The WETO 2023: 1.5°C Pathway positions electrification and efficiency as key transition drivers…
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