Norway will narrowly avoid a power deficit the next five years despite few production additions, as the last two years' high prices led to more permanent demand cuts, the Norwegian Water Resources and Energy Directorate (NVE) predicted on Monday…
The Big three oilfield services (OFS) companies will likely report higher profits for the second quarter as resurgent demand in international markets and strong offshore drilling helped counter tepid activity in North America.Baker Hughes, Halliburton…
Offshore accommodation rig firm Floatel International has secured a 4-month charter to provide accommodation support to Shell in the UK North Sea.Floatel, which owns and operates five semisubmersible accommodation units, said the contract was…
French energy company TotalEnergies does not believe it overpaid for a record-breaking German offshore seabed lease this month, despite industry criticism, CEO Patrick Pouyanne said on Thursday while presenting second-quarter results.'In Germany…
U.S. offshore vessel operator, builder and owner Edison Chouest Offshore (ECO) is constructing the U.S. offshore wind industry’s first ever mini-crew transfer vessel (CTV), designed by U.K.-based Chartwell Marine.Set to enter service in summer 2024…
Oil prices edged lower on Monday but were hovering near three-month highs and were set to post their biggest monthly gains in more than a year on expectations that Saudi Arabia would extend voluntary output cuts into September and tighten global supply…
Italy's Eni said its second-quarter adjusted net profit dropped 49% from last year, reflecting falling oil and gas prices and weaker refining margins. Adjusted net profit in the period came in at 1.94 billion euros ($2.13 billion), down from a bumper result of 3…
Abu Dhabi National Oil Company (ADNOC) has agreed to acquire a 30% stake in the TotalEnergies-operated Absheron gas and condensate field in the Caspian Sea, for an undisclosed fee.Upon completion of the transaction, ADNOC will own a 30% stake in Absheron…
Exxon Mobil Corp joined its rivals in reporting a 56% slump in second-quarter profit from a year ago, hurt by a drop in energy prices, in line with the midpoint of the company's earnings preview released earlier this month.Oil majors' profits…
Offshore drilling company Shelf Drilling has won a contract for the Shelf Drilling Fortress jack-up drilling rig with a European subsidiary of the Chinese oil company CNOOC in the UK North Sea.Under the contract, the rig, owned by Shelf Drilling's subsidiary Shelf Drilling North Sea…
Oslo-listed Vaar Energi, majority owned by Italy's Eni, posted on Tuesday a 55% drop in second-quarter operating profit on weaker oil and gas prices, narrowly missing analysts' forecasts. Earnings before interest and tax (EBIT) for the April-June quarter fell to $778 million from $1…
Malaysian FPSO leasing firm Yinson Production has acquired the Atlanta FPSO, a floating, production, storage, and offloading vessel that will serve as a production unit at Enauta's Atlanta field in Brazil.Yinson acquired the FPSO through the acquisition of AFPS B…
Norway-based offshore vessel owner Simon Møkster Shipping said Monday it had secured long term contracts for two of its platform supply vessels.The company said it had been awarded new multi-year contracts by a North Sea Operator in the UK for the PSVs Stril Odin and Strilmøy…
Goldman Sachs on Sunday revised up its global oil demand forecast for the year while sticking to its 12-month Brent price projection of $93 per barrel as higher realized inventories offset the demand boost from a less pessimistic growth outlook…
The first phase of what will be the world's largest offshore wind farm - the Dogger Bank in the UK - is expected to start producing electricity 'during summer.'This is according to Equinor, a Norwegian energy giant that is a partner in the project…
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