U.S. oil producer ConocoPhillips missed Wall Street bets for first-quarter profit on Thursday, as lower natural gas prices and increased costs offset gains from higher oil production.A milder-than-expected winter hurt demand for the heating fuel in the quarter and pulled down U…
So far, the Israel-Hamas conflict has had limited impact on the global economy. However, an escalation to a direct war between Israel and Iran, could result in oil prices rising to $150 a barrel and global output cut by $1 trillion, according…
Shell reported first-quarter profit of $7.7 billion on Thursday, exceeding expectations as disruption to Red Sea shipping and Russian refining boosted oil trading and liquefied natural gas production rose.The company said it will buy back a further $3…
First power from Ørsted’s Gode Wind 3 offshore wind farm in the German North Sea is now feeding the grid.Offshore wind construction company Cadeler reports its wind turbine installation vessel (WTIV) Wind Osprey recently installed the first Siemens Gamesa 11-megawatt (MW) turbine at the project…
BP is considering a 2025 financial greenlight decision for its Tiber offshore oil project in the U.S. Gulf of Mexico, an executive said on Tuesday at an offshore energy conference in Houston.The company's U.S. Gulf of Mexico output last year averaged 300…
OIlfield services company SLB on Tuesday announced its OneSubsea joint venture and Subsea7 has been awarded a 'sizeable' integrated engineering, procurement, construction, and installation (EPCI) contract from OKEA.The contract will see the…
Brazilian state-run oil company Petrobras said on Monday that its crude oil production during the first quarter rose 4.4% compared to the same period last year.Petrobras pumped 2.24 million barrels per day (bpd) in the period, the firm said in a statement…
Petrobras has signed a memorandum of understanding with the State of Rio Grande do Norte for studies on the feasibility of implementing an offshore wind pilot project in Brazil’s northeastern state.The value of the investment and the generation capacity will be assessed as the project develops…
Philippine petroleum company PXP Energy Corp will take part in a government auction of energy reserves in the country's western and southern waters that are not claimed by China, its chairman said on Monday.PXP Energy holds the rights to explore Reed Bank in the South China Sea…
CADEMO Corporation, established by Floventis, and California Community Power (CC Power) have signed a memorandum of understanding (MoU) to facilitate the development of the 60 MW floating wind project off the California coast.The MoU is intended…
UK-based offshore energy supply chain company Balmoral Comtec has secured a multi-million-dollar contract from for Ørsted for the supply of cable protection systems (CPS) for its Hornsea 3 offshore wind project.The scope of work includes design…
UTEC, a geo-services brand in Acteon’s Data and Robotics division, has been awarded an offshore survey and positioning contract for the Taiwan Power Company's (TPC) Phase 2 offshore wind farm project in Taiwan. The contract further reinforces…
The price to rent an offshore rig hit a nine-year high last year with jackups, semisubmersibles and drillships costing on average $118,000, $368,000 and $419,000, respectively (as of 31 December 2023). These figures represent an overall 54% increase in dayrates when compared with 2021…
In recent years, the oil and gas industry has faced mounting pressure to address its environmental impact. This has led many companies to set decarbonization targets – we are tracking more than 460 targets set by independents, majors, and NOCs across the sector…
Britain's EnQuest is looking to sell its 27% stake in the Golden Eagle oilfield in the British North Sea as it seeks to reduce debt levels, two sources told Reuters on Tuesday.It was unclear how much the sale of the non-operated stake would raise…
Subscribe
