Serica Energy will look to expand beyond the British North Sea following the acquisition of smaller rival Tailwind in order to diversify its revenue sources, its chief executive said.Serica last month announced it had agreed to buy privately…
Britain’s wind farms contributed a record 26.8% of the country’s electricity in 2022 although gas-fired power plants remained the biggest source of power, National Grid data showed on Friday.Britain has a target to reach net zero emissions by…
Floating wind is an emerging technology. Currently being tested in small scale demonstration and pilot projects, global floating wind commissioned capacity at the end of 2022 was less than 200 megawatts (MW). By 2030, close to 11 gigawatts (GW)…
Japan, the world's top liquefied natural gas (LNG) importer, is facing its latest challenge in securing vital gas supplies from Russia after Western reinsurers said they would halt marine war insurance for ships travelling in Russian waters from Jan…
Brazilian oil company Petroreconcavo SA has agreed to buy Maha Energy's subsidiary in the Latin American country, the companies said on Wednesday, marking another step in the Brazilian firm's ongoing expansion.According to a securities filing…
U.S. oil major Exxon Mobil Corp is suing the European Union in a bid to force it to scrap the bloc's new windfall tax on oil groups, arguing Brussels exceeded its legal authority by imposing the levy.The windfall profits tax is 'counter-productive'…
UK North Sea oil producer Serica Energy has agreed to buy Tailwind Energy Investments Ltd ('Tailwind') from Tailwind Energy Holdings LLP.The consideration for the acquisition comprises the issue of up to 111,048,124 new ordinary shares in Serica…
The holiday season is upon us, and as every year, this year too, Offshore Engineer features the top festive videos shared by offshore industry companies! Our personal favorites come from Oceaneering, Subsea 7, and Net Zero Technology Centre…
Qatar Energy has sold five cargoes of al-Shaheen crude loading in February at premiums of between $1.30 and $1.50 a barrel to Dubai quotes via its monthly tender, two trade sources said on Friday.The premiums are the lowest since June 2021 and…
The Norwegian oil and gas company Equinor has brought online the second phase of the giant Johan Sverdrup oil field in the North Sea, off Norway. Production started at 11:15 a.m. local time, on Wednesday, December 15.At plateau, the Johan Sverdrup field will produce 720…
Former Elliot Management activist fund manager Franck Tuil on Thursday told Wood Group to buy back some of its stock to avoid becoming a takeover target, sending shares in the oil services provider up by the most in six weeks.It is the first public campaign for his $600 million multi-strategy fund…
Oil and gas company Valeura Energy has agreed to buy three offshore blocks in the Gulf of Thailand from Mubadala Petroleum's subsidiary, Busrakham Oil & Gas.Valeura will acquire operated interest in in three offshore licences in the Gulf of Thailand that include the Nong Yao (Licence G11/48)…
The Italian energy industry services firm Saipem has decided to buy the 7th-generation Santorini drillship from Samsung Heavy Industries, citing rising dayrates and an optimistic forecast for offshore drilling rig demand.To remind, Saipem first chartered the drillship from Samsung in late 2021…
Five developers selected to build the first floating wind farms in U.S. federal watersTo support the California Energy Commission’s planning goals of 2-5 GW of offshore wind by 2030 and 25 GW by 2045 as well as a federal target to deploy 15 GW of floating wind by 2035…
Australian offshore vessel operator MMA Offshore has completed the sale of its shipyard in Batam, Indonesia.The planned sale was first announced back in May when MMA Offshore said it would sell its shipyard facility to Wasco Engineering Group…
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