The world’s largest developer of offshore wind farms Ørsted announced Tuesday it will proceed with building two wind farms offshore Taiwan as the country continues its push to attract investment in renewables.Changhua 1 and 2a will be constructed in 2021 and 2022…
Oil prices jumped more than 2 percent on Monday to a near six-month high, on growing concern about tight global supplies after the United States announced a further clampdown on Iranian oil exports.Washington said it will eliminate in May all…
Samsung Heavy Industries said on Wednesday that Petrobras America filed a lawsuit against the South Korean shipbuilder with a U.S. court, claiming 283 billion won ($249.32 million) in damages.Petrobras America claimed that it paid excessive charter fees for a drill ship built by Samsung Heavy…
Oil production in the North Sea will drop by 330,000 barrels per day (bpd) month-on-month in June 2019 as Ekofisk closes for planned work, according to Rystad Energy’s latest forecast.“Production is expected to remain stable through April 2019…
U.S. sanctions on Venezuela's oil industry have made winners out of Royal Dutch Shell Plc and BP Plc, Gulf of Mexico offshore heavyweights, as refiners in need of substitutes are scooping up oil produced in the region.Those two companies produce…
Mexico's deputy finance minister said on Thursday the government was considering using part of a $15.4 billion public income stabilization fund to pay some debt obligations for heavily leveraged state oil company Pemex.The finance ministry is…
A glance at the attendee list at one of the world's largest energy industry events in Houston this week left little question about the growing influence of the United States over global oil politics.Present: top U.S. diplomat Mike Pompeo. Absent: leading Saudi and Russian officials…
Malaysian state oil firm Petronas said on Friday its fourth-quarter profit slid 21 percent as costs piled up, and warned it will have to chart a way through a volatile, challenging 2019 citing market uncertainties and geopolitical risks.Petronas…
Petrobras has faced multiple challenges in exploring deepwater pre-salt reservoirs since 2006. These large reservoirs located under massive salt domes are extremely difficult to drill because of low penetration rates and the nature of the salt formations that can be over 2…
Norway's BW Offshore is considering whether to buy Brazil's Maromba oilfield from Petroleo Brasileiro (Petrobras) and Chevron, for an undisclosed price, the Oslo-listed company said on Monday.A final deal is subject to board approvals and other conditions…
Mexico's national oil company Pemex narrowed its multibillion-dollar losses last year, executives said on Wednesday, as it seeks to fast-track the development of 20 new fields this year in a bid to bring new streams of crude online.Long a source of Mexican pride and a potent political symbol…
Seadrill's core earnings for the fourth quarter exceeded the company's own guidance, boosted by lower costs and one-off items, while the market outlook for drilling rigs was improving, the Oslo and New York-listed firm said on Tuesday.The company…
Shell plans to enter Britain’s offshore wind market by acquiring seabed leases or taking stakes in existing projects, despite the country's impending departure from the European Union, the head of the company's New Energies division said.Oil…
BHP Group, the world's largest miner, said on Wednesday its board has approved $696 million in funding to expand production at the BP PLC-led Atlantis oil project in the U.S. Gulf of Mexico.The move comes about a month after London-listed oil…
Norwegian oil company Aker said on Thursday that its exploration start-up in Ghana will submit development plans to Ghanaian authorities in March and the parent will then decide whether to sell stakes via an initial public offering or other means…
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