Torger Rød has officially taken over as the new CEO of the Norwegian oil and gas company Vår Energi, the firm said Tuesday.He was elected as the new CEO back in January after Var Energi CEO Kristin F. Kragseth accepted the position as CEO of Petoro…
Liquefied natural gas (LNG) demand growth in Asia will slow down next year as the economic recovery stagnates and the capacity of competing fuels nuclear and coal expand in Japan and South Korea, research consultancy Wood Mackenzie said on Thursday…
Oil and gas firms in Norway have increased their 2021 and 2022 investment forecasts during the last three months as more projects are being developed, a national statistics office (SSB) survey showed on Wednesday.The biggest business sector in Norway now expects to invest 181…
British renewable power generator and network operator SSE Plc said on Wednesday it was on track to invest 7.5 billion pounds ($10.6 billion) in low-carbon projects up to 2025.The company turned its focus to renewable power generation and networks…
Norway-based ocean bottom node seismic surveyor Magseis Fairfield said Friday it had completed the acquisition of its 100th OBN survey, and with that announcement also shared what it was doing to become a carbon-neutral company, and what it…
James Fisher Renewables has been selected by the French transmission grid operator Réseau de Transport d'Electricité (RTE) to identify unexploded ordnance (UXO) along the export cable routes for the Fécamp offshore wind project.The 18-kilometer export cable…
Brazilian oil company Petrobras has awarded offshore services provider Subsea 7 a 'very large' contract for the delivery of subsea equipment for the Mero 3 deepwater field development, offshore Brazil.A very large contract, according to Subsea 7…
Australia's BHP announced on Friday that it will divest its 35% stake in the Neptune field in the U.S. Gulf of Mexico to Houston-based EnVen Energy Corp. The financial terms of the transaction were not disclosed. BHP has operated the Neptune field for the last 10 years…
Iran has signed a $1.78 billion contract with Petropars Group to develop the country's Farzad B gas field, Oil Ministry website SHANA said on Monday, after the failure of talks with Indian companies to develop the offshore site.Under the deal…
Investors should not fund new oil, gas and coal supply projects if the world wants to reach net-zero emissions by mid-century, the International Energy Agency (IEA) said on Tuesday, in the top global watchdog's starkest warning yet to curb fossil fuels…
Australia has stunned the oil industry with a levy to cover the estimated $200 million cost of removing facilities and cleaning up the area around an oil field off northwest Australia after the small company that owned the project collapsed…
As technology development continues at pace in the subsea space, a young innovative group out of Switzerland—Hydromea—unveiled the prototype of what it is calling the 'world’s first' wireless underwater drone in a pool demo on May 11, 2021. According to the company…
Spending in the upstream oil and gas sector is expected to gradually begin to rise from 2022, however, it will not reach the pre-crisis period any time soon as the toll of the Covid-19 pandemic on upstream investments in the first two years of the downturn is estimated at a whopping $285 billion…
Marine seismic data firms that supply data to offshore oil explorers are typically the first among oil industry contractors to bear the brunt of price drops, as their customers, the oil companies, slash expenses and wind down exploration activities while waiting for oil prices to rise again…
Renewable energy will account for a far larger share of global supply in 2050 than major oil companies or the International Energy Agency (IEA) expect, Oslo-based consultancy Rystad Energy said on Thursday.Its updated models show renewables meeting 74% of total energy demand by 2050…
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