Major energy traders are taking hundreds of millions of dollars in losses as they scramble to plug a liquefied natural gas (LNG) supply gap after several outages hampered efforts to fill European storage ahead of the winter heating season.Unplanned disruptions at LNG plants in the United States…
Reach Subsea's subsidiary OCTIO has won a multi-year geophysical monitoring frame contract with an undisclosed operator offshore Australia.OCTIO will deploy its gWatch service to deliver gravimetry and seabed subsidence measurements.'This is…
U.S. oil and gas producer Hess Corp reported a nine-fold increase in second-quarter adjusted profit on Wednesday, helped by a surge in energy prices following Russia's invasion of Ukraine.Oil prices have scaled multi-year highs this year as…
Marine survey specialist TDI-Brooks said Tuesday it had brought online a shallow water (<75-m) pneumatic vibracore (pVC) to supplement its other electric VC options (Feritech FT550 and Rossfelder P-5). According to the company, the pVC is a lightweight (4…
Dutch FPSO leasing specialist SBM Offshore has ordered its latest Fast4Ward multi-purpose floater hull as it marked a new record level order book at $31.1 billion. The latest Fast4Ward floating production unit (FPU) is expected to be delivered in 2024…
Italian oil major Eni announced it has signed a deal to to buy the Tango FLNG floating liquefaction plant from Belgium-based Exmar for use in the Republic of Congo. Under the agreement, Eni will acquire Exmar's company Export LNG Ltd, which owns the Tango FLNG…
The UK's North Sea Transition Authority (NSTA, formerly Oil & Gas Authority) says an estimate of the total cost of decommissioning UK Continental Shelf (UKCS) oil and gas infrastructure fell just 2% last year. The drop, following a 4% reduction the year before…
Norwegian energy company Equinor has taken a step forward with its Rosebank project in the UK North Sea by submitting key environmental documents. An Environmental Impact Assessment was submitted to the UK's Offshore Petroleum Regulator for Environment and Decommissioning (OPRED) on Thursday…
Austrian oil and gas company OMV has commenced drilling operations on the Oswig exploration well in the Norwegian sector of the North Sea.The drilling of the Oswig well 30/5-4 S, operated by OMV (Norge) AS, is being undertaken by the Maersk…
Japanese trading houses Mitsui & Co and Mitsubishi Corp have cut the value of their stakes in the Sakhalin-2 liquefied natural gas (LNG) project in Russia by 217.7 billion yen ($1.66 billion) following Moscow's move to seize control of the project…
Cenovus Energy Inc on Thursday reported a near 11-fold surge in second-quarter profit, helped by its purchase of rival Husky and rising energy prices after the Russian invasion of Ukraine.Oil prices have scaled multi-year records this year as…
The two largest U.S. oil companies, Exxon Mobil Corp and Chevron Corp, posted record revenue on Friday, bolstered by surging crude oil and natural gas prices and following similar results for European majors a day earlier.The U.S. pair, along with UK-based Shell and France's TotalEnergies…
Six South Korean companies and Malaysian state-owned energy company Petronas have agreed to work together to look at the feasibility of a cross border carbon capture and storage project in what's been called Asia’s first CCS hub project. Under a memorandum of understanding (MOU)…
UK-based offshore well plugging & abandonment company Well-Safe Solutions said Thursday it had secured a contract to plug and abandon (P&A) 14 wells on the UK continental shelf. The work is expected to secure 60 new offshore positions.The deal…
Wind turbine maker Siemens Gamesa is considering cutting around 2,500 jobs, or about 9% of its total, to recover from losses that have prompted its main shareholder to launch a takeover, two people familiar with the matter told Reuters.The cuts would reduce a workforce of some 27…
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