Equinor has awarded pre-FEED study contracts to BW Offshore and Altera Infrastructure for the Bay du Nord floating production storage and offloading (FPSO) vessel, planned for deployment offshore Canada.The Bay du Nord project consists of several oil discoveries in the Flemish Pass basin…
U.S. spot natural gas and power prices soared to multi-year highs in several parts of the country with extreme cold expected to boost gas demand to a daily record high on Tuesday.Extreme weather has created havoc for power and gas markets in recent years as demand has come close to outpacing supply…
Norwegian vessel owner and services provider Solstad Maritime Holding has outlined plans to apply for a listing of its shares on Euronext Oslo Børs during the second quarter of 2025.The listing is in line with the company’s previously expressed…
The Offshore Wind Growth Partnership (OWGP) has launched a new $2.45 million Development Grant competition and announced a combined $3.7 million in funding awarded to 12 companies from their 2024 funding calls.OWGP’s Development Grant program aims to support UK supply chain companies to scale up…
Oil futures slipped from the highest levels in several weeks on Monday on weakness in consumer spending in China, which is the world's largest oil importer, and as investors paused buying ahead of the U.S. Federal Reserve's interest rate decision…
Norwegian shipbuilder Vard, part of Fincantieri Group, has secured Lloyd’s Register’s Approval in Principle (AiP) of the methanol fueling system for two offshore wind Commissioning Service Operation Vessels (CSOVs) being built for North Star…
U.S. oil and gas company ConocoPhillips has completed the acquisition of Marathon Oil Corporation in a $22.5 billion takeover deal.The $22.5 billion acquisition was first announced in May 2024 as an all-stock transaction, which includes $5.4 billion of Marathon's debt…
Oil prices edged lower on Wednesday as a large, surprise build in U.S. gasoline stocks outweighed easing supply concerns from a ceasefire deal between Israel and Hezbollah.Brent crude futures fell 12 cents, or 0.2%, to $723.69 a barrel by 10:40 a…
Oil prices fell more than 2% on Friday as traders grew less fearful of prolonged supply disruptions from a hurricane in the U.S. Gulf of Mexico, while China's latest economic-stimulus packages failed to impress some oil traders.U.S. West Texas Intermediate futures CLc1 led the decline…
Equinor has signed an agreement to acquire Sval Energi’s 11.8% share in the Halten East Unit, increasing its ownership to 69.5%.Halten East is an ongoing offshore development located in the Kristin-Åsgård area in the Norwegian Sea.The development comprises six gas discoveries and three prospects…
Norwegian offshore supply vessel company DOF Group has concluded the acquisition of Denmark-based Maersk Supply Service, which will be renamed to DOF Denmark.The combined company is expected to become one of the leading offshore service provider…
RWE has selected Thyborøn Port as the offshore construction base for its 1.1 GW Thor offshore wind farm in the North Sea.Thyborøn will be the home port for the project’s service vessels and the control center for managing marine logistics and traffic throughout the offshore construction phase…
Portugal's Galp Energia on Monday posted a 22% fall in third-quarter adjusted core profit, hit by lower oil output and a sharp drop in refining margins, but earnings still beat estimates for the period.The energy firm reported adjusted earnings before interest…
U.S. oil producers Exxon Mobil and Chevron posted better-than-expected third-quarter profits on Friday, outperforming their European rivals, as record U.S. oil production cushioned the blow from a plunge in fuel margins.The two focused on expanding…
The Danish Energy Agency has granted RWE the offshore construction permit for 1.1 GW Thor offshore wind farm, marking the final authorization ahead of construction start set for spring 2025.Good progress is already being made on land, with the…
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