Oil hit a three-year high above $86 a barrel on Thursday driven by tight supply and a global energy crunch, although prices eased as some investors took profits on signs the rally is looking overstretched.Helping to drive the latest gain, a supply report from the U…
Oilfield firm Baker Hughes Co reported a quarterly profit that fell short of Wall Street expectations on Wednesday, sending its shares down sharply in pre-market trading.Oil producers and service firms are expected to be supported by a rebound…
Investment in renewable energy needs to triple by the end of the decade if the world hopes to effectively fight climate change and keep volatile energy markets under control, the International Energy Agency (IEA) said on Wednesday.'The world is not investing enough to meet its future energy needs…
Global petroleum inventories have fallen to their lowest seasonal level for seven years as producers have failed to raise output to match the rapid rebound in consumption since last year’s coronavirus-driven recession.In contrast to shortages in coal…
Turkish marine operations company, ARAS Marine, acquired a deep-rated Saab Seaeye Falcon remotely operated vehicle (ROV) to support a wide range of projects in both International and Turkish territorial waters.ARAS Marine's projects range from…
The hull of the Prosperity FPSO has recently arrived from China where it was built to Singapore where Keppel will mate it with topside modules, after which the vessel will set sail for Guyana, to become the South American country's third FPSO in production…
Oil prices hit a fresh three-year high on Friday, climbing above $85 a barrel on forecasts of a supply deficit over the next few months as rocketing gas and coal prices stoke a switch to oil products.Brent crude futures were up 80 cents, or 0…
Oil prices rose by about 1% on Thursday after the International Energy Agency said that record natural gas prices will boost demand for oil and top oil producer Saudi Arabia dismissed calls for additional OPEC+ supplies.Brent crude futures gained 87 cents…
Personal protective equipment provider Red Wing has said that giving female workers men's PPE puts women at risk, and has called for the North Sea offshore industry to close the gender PPE gap and improve the safety of women’s kit.According to Red Wing…
Oil and gas company BW Energy has been provisionally awarded operatorship of two blocks in the 12th Offshore Licensing Round in Gabon.The award by the Direction Generale des Hydrocarbures (DGH) in Gabon is subject to finalizing the production sharing contracts (PSC) with the DGH…
Oil hit a multi-year high on Wednesday above $83 a barrel, supported by OPEC+'s refusal to ramp up production more rapidly against a backdrop of concern about tight energy supply globally.The market later unwound those gains due to an American…
UK-based offshore equipment provider OEG Offshore has acquired Hughes Subsea Services (Hughes), an integrated subsea service company.This is OEG Offshore's second acquisition in a little over a week, when it bought Fern Communications.Hughes…
Offshore drilling rig owner Stena Drilling has acquired a minority stake in and formed a three-year technology partnership with SmartChainServices (SCS), a UK-based blockchain technology start-up.Stena Drilling said the move followed a six-month proof of value project…
Oil prices rose by about 2% on Monday, extending gains as an energy crisis grips major economies amid a pick-up in economic activity and restrained supplies from major producers.Brent crude was up $1.45, or 1.8%, at $83.84 a barrel by 1336 GMT…
Gazprom's Swiss unit can challenge an EU gas rule that requires gas producers to be separate companies from those that control the pipeline, an adviser to the EU's top court said on Wednesday.Russia's Gazprom owns operator Nord Stream 2 and…
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