Exxon Mobil Corp posted a $56 billion net profit for 2022, the company said on Tuesday, taking home about $6.3 million per hour last year, and setting not only a company record but a historic high for the Western oil industry. Oil majors are…
A developer set to produce wind energy off the coast of Massachusetts has announced a name change. The company formerly known as Mayflower Wind said on Tuesday it has changed its name to SouthCoast Wind Energy LLC, to 'better reflect the company’s commitment to the people…
Japanese trading firm Marubeni Corp started commercial operation based on the feed-in tariff program for renewable energy at Akita Port offshore wind farm on Tuesday, it said in a statement.Japan's offshore wind power market, part of the country's goal to be carbon neutral by 2050…
Italian energy group Eni is discussing with Norwegian private equity firm HitecVision a sale of a stake in its retail and renewables unit Plenitude, according to sources with knowledge of the talks.After freezing plans for an initial public…
Turkish Cemre Shipyard has awarded HAV Group ASA’s subsidiary Norwegian Electric Systems AS (NES) a contract to deliver energy design, and smart control systems for two “Windkeeper” service operations vessels (SOV).The Turkish shipyard is building…
Spanish power company Iberdrola is considering the sale of a stake in its U.S. renewables business to help to finance new investments, two sources with knowledge of the matter told Reuters. One of the sources said that Iberdrola had appointed…
Sri Lanka is preparing to issue two-year oil and gas exploration licenses for as many as 900 offshore blocks for foreign firms to scout for energy resources and bring in vital investments to the crisis-hit country, a top official told Reuters on Thursday…
Archer Limited has signed a term sheet with Baker Hughes to potentially acquire Baker Hughes’ coil tubing and pumping (“CT&P”) business in the United Kingdom. 'The CT&P business fits well within Archer’s overall strategy to grow our drilling…
Guyana is looking at awarding oil and gas exploration blocks to Indian companies as part of a broader hydrocarbon cooperation it is negotiating with India, the South American nation's president said on Thursday.Guyana, home to one of the largest oil discoveries in the last decade…
China's CNOOC Ltd has set its 2023 production target at a record 650 million to 660 million barrels of oil equivalent (boe), about 8% above last year's goal. The state-controlled offshore oil and gas company produced about 620 million boe last year…
The Malaysian FPSO leasing company Yinson has completed the 16-year contract for FPSO Adoon in Nigeria as the client Addax decided to buy the FPSO.The contract for the FPSO which has been operating at Block OML 123 offshore Nigeria, had an original term of 8 years until 2014…
Hitachi Energy said Monday it had secured two major orders from Equinor and Polenergia to provide an AC grid connection and power quality solution for their jointly owned MFW Baltyk II and MFW Baltyk III offshore wind projects in Poland.The wind farms…
Britain’s wind farms contributed a record 26.8% of the country’s electricity in 2022 although gas-fired power plants remained the biggest source of power, National Grid data showed on Friday.Britain has a target to reach net zero emissions by…
January brings with it the expectation that the United States' first commercial wind farm in federal waters will start generating power by year end, the promise that permitting for close to 5 gigawatts (GW) of projects will be finalized within…
Serica Energy will look to expand beyond the British North Sea following the acquisition of smaller rival Tailwind in order to diversify its revenue sources, its chief executive said.Serica last month announced it had agreed to buy privately…
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