Exxon Mobil on Friday posted a better-than-expected $36 billion profit for 2023, lifted by fuels trading and higher oil and gas production.Oil majors are expected to report 2023 profits down by about a third from record levels in 2022, as oil…
Engineering company McDermott and Baker Hughes have completed the installation of subsea infrastructure at the Ichthys liquefied natural gas (LNG) field in northern Australia.The work was conducted for Inpex as part of the contract McDermott and Baker Hughes secured in 2019…
Seatrium has delivered Brassavola, Singapore’s first membrane LNG bunker vessel built locally by the group, to owner Indah Singa Maritime, a wholly-owned subsidiary of Mitsui O.S.K Lines (MOL).Following delivery, Brassavola will be chartered…
Years of network expansion on land in Germany has led to a drop in the proportion of offshore wind power contributed from the North Sea to the country's total wind energy output, Dutch grid operator TenneT said on Monday.In 2023, the share of…
Dutch company Huisman has secured a contract from Subsea 7 for the delivery of its 500MT offshore mast crane for one of pipelay vessels for deep water installations.The 500mt Offshore Mast Crane will be equipped with a passive and active heave…
U.S. Gulf of Mexico-focused oil and gas company W&T Offshore has completed the accretive acquisition of six oil fields in shallow waters of the Gulf of Mexico for $72 million.W&T Offshore was the successful bidder for certain synergistic assets in the Gulf of Mexico offered by MLCJR…
Longitude Engineering, part of Oslo-listed ABL Group, has secured a contract to provide detailed design and engineering services for the subsea development of Phase-X at Egypt’s West Delta Deep Marine concession, part of the Burullus Gas Field in the Mediterranean Sea…
U.S. oilfield technology firm Baker Hughes beat Wall Street estimates for fourth-quarter profit on Tuesday, powered by strong demand for its services and equipment from LNG producers, as well as offshore and international markets.The company…
Saudi Arabia's sovereign wealth fund, the Public Investment Fund (PIF), has launched the masterplan for THE RIG – a world-first adventure tourism destination to be built on an offshore platform in the Arabian Gulf.The vision for THE RIG project…
Offshore drilling contractor Stena Drilling has taken delivery of its 7th generation Stena Evolution ultra-deepwater drillship from Samsung Heavy Industries.After a decade in the making, Stena Evolution drillship has finally been completed and is ready for its first job…
Shell has taken a final investment decision (FID) on the Victory gas field in the UK North Sea, approximately 47 km north-west of the Shetland Islands.Once onstream, the field will help to maintain domestically produced gas for Britain’s homes…
BlackRock said on Friday it would buy Global Infrastructure Partners (GIP) for $12.5 billion in a major bet on alternative assets and announced a shake-up of its top management.The deal, which includes $3 billion in cash and 12 million BlackRock shares…
DNV has launched a joint industry project with ten offshore wind and transmission developers to identify changes to electrical standards and standardization needed to enable the connection of High Voltage Direct Current (HVDC) transmission into the United States’ electric grid…
Japan’s utility JERA and Green Power Investment Corporation (GPI) have started operations at the Ishikari Bay New Port Offshore Wind Farm - the largest commercial wind farm in Japan.Located in Hokkaido’s Ishikari Bay New Port, the wind farm…
The Biden administration on Wednesday will hold an auction of oil and gas leases in the Gulf of Mexico following several delays due to litigation over the drilling industry's impact on an endangered species of whale.The sale will likely be the…
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