Africa-focused Tullow Oil said on Wednesday it expected to make $200 million in free cashflow this year at an average oil price of $95 a barrel, adding that it sees no cashflow in the first half after an arbitration payment and an acquisition…
Serbia, which is fully dependent on Russian gas supplies, plans to purchase gas from Azerbaijan in 2023 when it expects an interconnector to Bulgaria's pipeline to be completed, Serbia's energy minister said on Tuesday.'We are currently talking…
UK North Sea-focused oil and gas company Serica Energy's Board in May and June rejected potential merger proposals from Kistos, an energy industry investment company established in England and Wales in October 2020. Per Kistos, Serica in July sent a counter-proposal…
Black Sea-focused oil and gas company Trillion Energy International said this week that its 49% cost share for the Black Sea drilling program was fully funded, as the company completed capital raises totaling CDN$ 40.4 Million (USD$32million) year-to-date…
Resource-poor Japan is facing a historic energy security risk as tensions with Moscow intensify, heightening the threat of gas supply disruptions at a time when global supply is tight and spot prices are sky-high.Last week, Russia seized full…
The UK Department for Business, Energy and Industrial Strategy (BEIS) has awarded the offshore wind farm developer Ørsted a contract for difference for its Hornsea 3 offshore wind farm. The wind farm has been described as the world's single biggest offshore wind farm…
Retail investors dumped the rights to buy into a 2 billion euro ($2 billion) cash call at Italian energy services group Saipem on Tuesday, heightening risks for banks that agreed to mop up any unsold shares unless institutional buyers pick up the slack…
Norway's offshore and maritime services provider OSM Maritime (OSM) has bought New Zealand’s oil and gas and offshore marine service firm Kingston Offshore Services. 'The acquisition was completed on June 30th and aims to further strengthen OSM’s current operations and services in Oceania…
Europe's move away from Russian gas provides a ready and lucrative market for a vast project being developed in West Africa, Mauritania's oil minister said on Thursday.As Russia has reduced gas supplies to Europe and Europe seeks to limit its dependence on Russian gas…
Swedish utility Vattenfall said on Monday it had agreed to buy an 85% stake in two early-stage offshore wind projects off Sweden's west coast from Norwegian wind farm developer Zephyr.State-owned Vattenfall said in a statement it expected the projects to have a combined production capacity of 2…
Jack-up drilling rig specialist Shelf Drilling has agreed to buy the Deep Driller 7 jack-up drilling rig from the Indian offshore drilling company Aban Offshore. Shelf Drilling will pay $30 million for the 2008-built jack-up drilling unit. The rig is of Baker Marine Pacific Class 375 design…
EU sanctions on Russia’s petroleum exports and easing lockdowns in China have encouraged portfolio investors to become more bullish on oil prices despite the steadily darkening outlook for the major economies.Hedge funds and other money managers…
Glenn Richey, the Raymond J. Harbert Eminent Scholar and chair of the Department of Supply Chain Management in Auburn University’s Harbert College of Business, comments on record gas prices and how the Biden administration needs to work with…
CorPower Ocean will launch its next-generation C4 wave energy converter alongside its new ‘CorPack Concept’ providing the building blocks for future wave energy farms.The unveiling will happen in Stockholm, Sweden, on June 15. The new full-scale…
Dutch marine services and dredging firm Boskalis said Friday that the price proposed by HAL Holding for the acquisition of all remaining shares of Boskalis wasn't unreasonable, but also not sufficiently convincing to recommend the price to its shareholders…
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