Portugal expects to launch its first offshore wind power auction by the last quarter of this year, aiming to reach 10 gigawatts (GW) of installed capacity by 2030, Prime Minister Antonio Costa said on Monday. As a pre-condition to the auction…
International Energy Agency (IEA) head Fatih Birol said on Thursday that energy markets could be tighter in 2023, adding he hoped prices would not rise further in order to ease the pressure on energy-importing developing countries.'I wouldn't be too relaxed about the markets…
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…
Following Moscow's invasion of Ukraine, world's largest oilfield firm SLB has boosted its business in Russia by cherry-picking service and equipment contracts from rivals who left, according to company documents and people familiar with its operations…
OSM Maritime Group and Thome Group have agreed to a merger that will create one of the world's largest ship management companies.The combined company OSM Thome will be headquartered in Arendal, Norway, with technical management hubs maintained in Singapore and Europe…
Offshore transport firm CHC Helicopter Group (CHC), has agreed to sell Offshore Helicopter Services UK (OHS UK) to Ultimate Aviation Group, a South African headquartered international aviation business for an undisclosed fee.CHC is selling OHS…
Danish offshore wind farm developer Ørsted has agreed to buy Public Service Enterprise Group’s (PSEG) 25 percent stake in Ocean Wind 1, a 1,1 GW offshore wind project located 15 miles off the coast of southern New Jersey. The acquisition gives Ørsted complete ownership of Ocean Wind 1…
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…
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…
Germany imported 12.3% less natural gas in 2022 than the previous year, at 1,449 terawatt hours (TWh), as the withdrawal of Russian export supplies of fossil fuels triggered an energy crisis, the country's energy regulator said on Friday. Norway took over from Russia as the number one supplier…
Marco Polo Marine, a Singapore-listed offshore vessel company, has entered the South Korean market with a 'landmark' Memorandum of Understanding signed with South Korean companies Namsung Shipping Co., Ltd. and HA Energy Co., Ltd. (“HA-E”).Under the MoU…
Scana, an Oslo-listed maritime and offshore services provider, said Thursday evening that its CEO Styrk Bekkenes had resigned, along with the company's chairman and two board members.The Scana board has decided to appoint Oddbjørn Haukøy as interim CEO…
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…
Greencoat Renewables has agreed to buy 22.5% of the Butendiek offshore wind farm in Germany from Marguerite Pantheon.The wind farm is located in Germany's exclusive economic zone in the North Sea and consists of 80 Siemens Gamesa 3.6 MW turbines that have been operational since 2015…
Earnings from Shell's liquefied natural gas (LNG) trading operations are likely to have been significantly higher in the fourth quarter of last year despite a sharp output drop owing to plant outages, it said on Friday.Europe's largest oil and…
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