Italy's Eni ENI.MI and its Norwegian unit Vaar have agreed to buy private-equity backed Neptune Energy in a deal valuing the assets of the gas and oil producer at $4.9 billion including debt, the two groups said on Friday.The acquisition, which is expected to be completed at the start of next year…
China added to crude oil stockpiles at the fastest rate in nearly three years in May, as robust imports outweighed near-record refinery processing.A total of 1.77 million barrels per day (bpd) was added to inventories in May, the most since July 2020 and reversing the small…
As a child, Nandha Kishore S.R. was fascinated by the wind turbine installed at a wind energy institute near his home in southern India and dreamt of one day operating such equipment.Years later, the engineering graduate trained at the same institute in Chennai and started working in the sector…
Active floating drilling rig utilization has rebounded from a low of 65% in 2018 to over 85% in 2023, energy intelligence group Wood Mackenzie said Monday, adding that the growth in demand and rates could even spur construction of new offshore rigs…
Some 913 workers on Norwegian offshore oil and gas drilling rigs and other installations will go on a strike unless a wage deal is found by a June 29 deadline, the Industri Energi labour union said in a statement on Monday. Strike action by…
Britain's windfall tax on oil and gas producers will not be applied if prices drop below certain levels for six months in a row, the finance ministry said on Friday, in a move the government hopes will boost energy security.The energy profit…
The United States learned of a Ukrainian plan to attack the Nord Stream natural gas pipelines three months before they were damaged last September by underwater explosions, The Washington Post reported on Tuesday, citing leaked information posted online…
Kazakhstan's Energy Minister Almasadam Satkaliyev said on Tuesday that the central Asian country is pressing ahead with $16.5 billion in claims against international oil companies over disputed project costs.The new claims are the latest in…
Spanish renewable energy company Iberdrola said this week it was making progress in the construction of Vineyard Wind I, the largest commercial-scale offshore wind farm in the United States, with the receipt of the first shipment of components…
Norwegian seismic data firm TGS on Tuesday announced an expansion of its multi-client 3D coverage in the Malvinas Basin offshore Argentina, called Malvinas 3D Phase III.TGS plans to acquire a ~7,500 square kilometer 3D seismic survey, and upon completion…
The Organization of the Petroleum Exporting Countries and allies including Russia, a group known as OPEC+ which pumps around 40% of the world's crude, agreed on a new oil output deal on Sunday.Saudi Arabia, the group's biggest producer, will…
Indonesian state energy firm Pertamina is finalizing an acquisition of Shell's shares in the country's Masela gas project, its chief executive officer said on Tuesday.Indonesia's energy minister on Monday said Pertamina was leading a consortium…
Norway's Equinor said on Wednesday that it will postpone its Bay du Nord Canadian offshore oil project for up to three years, due to rising costs.The decision sets back one of Canada's biggest oil projects in years, and one which has the rare support of Prime Minister Justin Trudeau's government…
Norwegian offshore drilling company Odfjell Drilling has secured a contract with ConocoPhillips for the Deepsea Yantai semi-submersible drilling rig.The contract, which Odfjell Drilling agreed on behalf of the rig owner CIMC Raffles, includes the drilling of one firm well…
Unique Group, a subsea technology and engineering services firm, has appointed Sahil Gandhi as Chief Executive Officer (CEO), succeeding Himanshu (Harry) Gandhi, who will now assume the position of Chairman of the Group.Acting as Unique Group’s COO since 2017…
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