Asian liquefied natural gas (LNG) demand is projected to increase by 5% at 12 million tons (Mt) in 2024, following a 2% at 5 Mt growth in 2023, according to the most recent report by Wood Mackenzie.China, the world’s largest LNG import market…
BlackRock said on Friday it would buy Global Infrastructure Partners (GIP) for $12.5 billion in a major bet on alternative assets and announced a shake-up of its top management.The deal, which includes $3 billion in cash and 12 million BlackRock shares…
DNV has launched a joint industry project with ten offshore wind and transmission developers to identify changes to electrical standards and standardization needed to enable the connection of High Voltage Direct Current (HVDC) transmission into the United States’ electric grid…
Japan’s utility JERA and Green Power Investment Corporation (GPI) have started operations at the Ishikari Bay New Port Offshore Wind Farm - the largest commercial wind farm in Japan.Located in Hokkaido’s Ishikari Bay New Port, the wind farm…
U.S. oil and gas company Talos Energy has started oil and gas production at Lime Rock and Venice discoveries, located near its Ram Powell platform in the U.S. Gulf of Mexico.The Lime Rock and Venice wells were brought safely online in late December…
Exxon Mobil Corp warned on Thursday it would write down about $2.5 billion of California assets in the fourth quarter, and said lower energy prices reduced operating profits.The snapshot by the largest U.S. oil producer showed operating results could drop to about $8…
West Azeri platform, located in the Caspian Sea at Azeri-Chirag-Gunashli (ACG) oil field, has achieved 1 billion barrels total production.The announcement was made by BP, which is the operator of ACG oil field, on behalf of its partners SOCAR…
EIG, an institutional investor in the global energy and infrastructure sectors, has entered into definitive agreements to acquire a Brazilian-based offshore oil and gas solutions provider and the country’s only FPSO operator Ocyan for $390 million…
Brazilian oil and gas company Enauta has bought FPSO Cidade de Santos platform from MODEC, following the acquisition of the Uruguá and Tambaú fields in Santos Basin.The transaction for the FPSO, capable of processing 350 million cubic feet per day of gas…
New York-listed shipowner Capital Product Partners L.P. (CPLP) has closed the umbrella agreement from November 2023, moving forward with the $3.1 billion acquisition of 11 newbuild LNG carrier vessels.CPLP entered into umbrella agreement with Capital Maritime & Trading Corp…
UK-based oil and gas company Capricorn Energy is keeping its hopes up that Woodside's Sangomar offshore oil project in Senegal will produce the first oil by June 30, 2024, making it eligible for contingent pay of up to $50 million.In December 2020…
Taihan Cable & Solution has won a $77.3 million contract for the supply of subsea cables for the 365 MW Yeonggwang Nakwol offshore wind farm in South Korea, and purchased what is said to be the country's only cable-laying vessel (CLV) for the offshore wind market…
Solstad Offshore has exercised its option to purchase the construction support vessel (CSV) Normand Tonjer.The vessel was bought from the Norwegian Mpsv for the net amount of $4 million.In 2021, Normand Tonjer was sold to Mpsv for a gross amount…
The holiday season is here, and in the best traditions of Offshore Engineer, we bring you the top festive videos shared by offshore industry companies this year as well.With plenty of ‘short and sweet’ videos to choose from, this year’s round up starts with our top three favorites coming from Fugro…
German utility RWE on Thursday said it would acquire three offshore wind projects off the English coast from Sweden's Vattenfall in a deal that values the assets at 963 million pounds ($1.2 billion).The UK Norfolk Offshore Wind Zone portfolio consists of three 1…
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