As the risk of a delayed energy transition scenario increases, so does the possibility of a much greater pull on future oil and gas supply, but meeting this demand would require a significant increase in upstream investment, resulting in higher hydrocarbon prices…
High-tech offshore wind services provider Beam has bought Quantum EV remotely operated vehicle (ROV) from SMD, setting out plans to equip it with an artificial intelligence (AI)-driven system to improve its operational scope and offshore wind farm servicing…
Senegal's Sangomar offshore oil and gas field raised its output of crude to 16.9 million barrels in 2024, exceeding its initial target of 11.7 million, the West African country's energy ministry said on Tuesday.Discovered 10 years ago about 100 km (62 miles) south of the capital Dakar…
Oil and gas major Shell has started the production at its deepwater Whale floating production facility in the Gulf of Mexico.The Whale production facility is in the Alaminos Canyon Block 773 and is adjacent to the Shell-operated Silvertip field…
U.K.-based oil firm Serica Energy has resumed production at Triton floating production storage and offloading (FPSO) unit in the North Sea, following the outage caused by a technical issue.Serica Energy said the production into the Triton FPSO resumed on December 27…
Oil prices edged up to a 12-week high on Monday as a winter storm boosted demand for energy to heat U.S. homes and businesses, and on support from a weaker U.S. dollar and expectations of tighter sanctions on Iranian and Russian oil exports…
Asian spot liquefied natural gas (LNG) prices rose this week to a one-month peak, as the expiry of a transit deal for Russian gas through Ukraine caused uncertainty in Europe's gas outlook.The average LNG price for February delivery into Northeast Asia LNG-AS was $14…
Offshore drilling contractor Vantage Drilling and French energy major TotalEnergies have created a joint venture (JV) entity TEVA Ship Charter, which will acquire Vantage’s drillship Tungsten Explorer.Subsequent to the completion of the current Tungsten Explorer contract in Congo…
Offshore drilling contractor Vantage Drilling has appointed William Thomson to the role of Chief Operating Officer (COO).Thomson will assume the additional role of COO with effect January 1, 2025, reported Ihab Toma, Chief Executive Officer…
Brazilian oil and gas firm Brava Energia has concluded the acquisition of the 23% stake held by QatarEnergy Brasil in the Abalone, Ostra and Argonauta oil fields, which form the Parque das Conchas in the Campos Basin.The transaction value, disregarding adjustments…
Total exports of Russian gas to European countries have so far been 18-20% higher this year than in 2023, Deputy Prime Minister Alexander Novak said on Wednesday.In January to November, supplies of pipeline gas and liquefied natural gas (LNG) exceeded 50 billion cubic metres…
China’s Mingyang Smart Energy has put into operation what’s said to be the world’s largest single capacity floating wind platform, rated at 16.6 MW, at Qingzhou IV offshore wind farm in South China Sea.The floater, dubbed OceanX, features dual-turbine 'V' shaped platform with a total capacity of 16…
Oil futures slipped from the highest levels in several weeks on Monday on weakness in consumer spending in China, which is the world's largest oil importer, and as investors paused buying ahead of the U.S. Federal Reserve's interest rate decision…
Oil prices rose by nearly 2% on Monday on increased geopolitical risk after the fall of Syrian President Bashar al-Assad, and as top importer China flagged its first move towards a loosened monetary policy stance since 2010.Brent crude futures were up $1…
[1] Flat Outlook for Global Spend … but … Aadvantaged Projects Attract CapitalWith concerns of a softening oil market, we expect global upstream investment to remain flat or even fall – indeed, the reported 2025 budgets to date show a 3-4% drop…
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