The Brazilian oil company Petro Rio on Wednesday announced production start-up for the MUP5 well in the Frade offshore field in Brazil.Petro Rio said that the stabilized initial production of approximately 8,000 barrels of oil per day, above original projections…
Inpex, Japan's largest oil and gas exploration and production company, said on Thursday it had bought a 16.7% stake in the Moray East offshore wind farm in Scotland from Mitsubishi to expand further into renewable energy. The Moray East offshore wind farm…
U.S. oil and gas producer EOG Resources on Friday said it had no plans to alter its strategy around new natural gas drilling, despite a sharp decline in prices this year. Rival producers, including Chesapeake Energy, Southwestern Energy, and Comstock Resources…
Greencoat Renewables has completed the acquisition of a 22.5% stake in the Butendiek offshore wind farm in Germany from Marguerite Pantheon.Developed by wpd, the Butendiek offshore wind farm is located in Germany’s exclusive economic zone in the North Sea…
Partners in the Leviathan gas field in the eastern Mediterranean have approved nearly $100 million of spending on preparation for expansion that includes a floating liquefied natural gas (LNG) terminal off the coast of Israel, the companies said on Tuesday…
Talos Energy Inc., a U.S.-based offshore oil and gas producer, has completed its previously announced acquisition of EnVen Energy Corporation ('EnVen'). Talos, which owns oilfields in both the U.S. side and the Mexican side of the Gulf of Mexico…
Archer Limited and Baker Hughes Limited have signed official agreements for Archer to buy Baker Hughes' coil tubing and pumping (CT&P) business in the United Kingdom.The definitive agreement follows a term sheet signed in January.Baker Hughes…
Island Offshore, a Norwegian offshore support vessel owner, has sold its 2013-built offshore support vessel Island Crown to the defense ministry.The vessel, built by Vard, will be converted to support Royal Navy mine-hunting operations – serving…
Dubai's shipbuilding and shiprepair company Drydocks World and Norwegian offshore engineering and construction firm Aker Solutions have established a joint venture to upgrade the Petrojarl Knarr FPSO for Equinor's Rosebank offshore oil and gas field in the UK…
Exxon Mobil Corp posted a $56 billion net profit for 2022, the company said on Tuesday, taking home about $6.3 million per hour last year, and setting not only a company record but a historic high for the Western oil industry. Oil majors are…
A developer set to produce wind energy off the coast of Massachusetts has announced a name change. The company formerly known as Mayflower Wind said on Tuesday it has changed its name to SouthCoast Wind Energy LLC, to 'better reflect the company’s commitment to the people…
Portfolio investors have piled into petroleum futures and options at the fastest rate since the first successful coronavirus vaccines were announced in late 2020.China’s exit from a zero-COVID strategy, along with hopes the global economy can avoid a recession and low oil inventories…
Archer Limited has signed a term sheet with Baker Hughes to potentially acquire Baker Hughes’ coil tubing and pumping (“CT&P”) business in the United Kingdom. 'The CT&P business fits well within Archer’s overall strategy to grow our drilling…
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…
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…
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