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New UXO Removal Contractor Enters Offshore Renewables Market

4 hours ago

Pritchard-Gordon group of companies has launched PG Renewables, a turnkey contractor providing offshore and nearshore Unexploded Ordnance (UXO) identification and clearance services for the marine energy and offshore wind markets.PG Renewables…

Brazil's Petrobras Looks to Africa for Oil Reserves Boost

Feb 12, 2025

Brazil's Petrobras wants to buy stakes in African oil assets, mainly in Angola, Namibia and South Africa, to boost its reserves as it expects output to fall after 2030, a senior executive said on Wednesday.The Brazilian state energy firm is in talks with companies…

BP Posts Lowest Quarterly Profit in Four Years

Feb 11, 2025

BP reported quarterly profit of $1.17 billion on Tuesday, weaker than expected and the lowest in four years, while the company promised to reset its strategy, after news broke at the weekend that investor Elliott Management had built up a stake…

Egypt Inks $3B LNG Deals with Shell and TotalEnergies

Feb 06, 2025

Egypt has signed deals worth about $3 billion with Shell and TotalEnergies to secure 60 cargoes of liquefied natural gas (LNG) to cover demand for 2025, three trading sources told Reuters.The most populous Arab country last year returned to being a net importer of natural gas…

Shell's Profit Falls to $3.66B in Last Quarter of 2024

Jan 30, 2025

Shell on Thursday reported a fourth-quarter profit of $3.66 billion, missing estimates, on lower refining margins and lower liquefied natural gas (LNG) trading, while saying it would buy back shares worth $3.5 billion.The oil major also announced a 4% increase in its dividend…

Shell Puts New FPSO at Penguins Field into Production

Feb 04, 2025

Shell has restarted production at the Penguins field in the U.K. North Sea with a new floating, production, storage and offloading (FPSO) unit.The previous export route for the field, operated by Shell with 50% interest, and partner NEO Energy with the remaining 50%…

Higher Oil Output at Permian, Guyana Lifts ExxoMobil’s Quarterly Profit

Jan 31, 2025

ExxonMobil on Friday beat Wall Street's estimate for fourth-quarter profit as higher oil and gas production offset lower oil prices and weaker refining margins.Its adjusted profit was $7.39 billion or $1.67 per share, beating analyst estimates of $1…

Baker Hughes: US oil & gas rig count at lowest since Dec 2021

Jan 24, 2025

U.S. energy firms this week cut the number of oil and natural gas rigs operating for a third week in a row to the lowest since December 2021, energy services firm Baker Hughes BKR.O said in its closely followed report on Friday.The oil and gas rig count…

European LNG Imports Up with Asian Influx

Jan 28, 2025

The world's imports of liquefied natural gas are set to jump to the highest in a year in January as Europe's winter demand draws cargoes away from top-consuming region Asia.A total of 38.12 million metric tons of the super-chilled fuel is on track to be imported in January…

Oil Goes Down as Trump Asks OPEC to Cut Prices

Jan 24, 2025

Oil fell 1% on Thursday after U.S. President Donald Trump urged Saudi Arabia and OPEC to bring down its cost during his address at the World Economic Forum.Uncertainty over how Trump's proposed tariffs and energy policies would affect global economic growth and energy demand also weighed on prices…

US Oil Majors Set to Curb ‘Drilling Boom’ Expectations Despite Trum Calls

Jan 28, 2025

Wall Street expects U.S. oil and gas companies to keep a lid on spending in 2025 and keep their focus on generating shareholder returns, despite calls by President Donald Trump to 'drill, baby, drill.'Big Oil begins reporting fourth-quarter results this week…

Scottish Inch Cape Offshore Wind Farm Reaches Financial Close

Jan 27, 2025

The financial close for the Inch Cape offshore wind farm, developed by ESB and Red Rock Renewables as equal joint owners, has been reached, raising more than $4.3 billion in funding.The 1,080 MW offshore wind farm, located in the North Sea 15 kilometres off the Scottish Angus coast…

MATCOR Relaunches Iron Gopher for HDD Drilling with Reduced Price

Jan 28, 2025

Cathodic protection and AC mitigation solutions supplier MATCOR, a BrandSafway company, has relaunched its patented Iron Gopher linear anode for horizontal directional drilling (HDD) projects, with a reduced price.The price reduction is the result of MATCOR's move to in-house production…

Equinor Hires BW Offshore and Altera Infrastructure for Bay du Nord FPSO Job

Jan 23, 2025

Equinor has awarded pre-FEED study contracts to BW Offshore and Altera Infrastructure for the Bay du Nord floating production storage and offloading (FPSO) vessel, planned for deployment offshore Canada.The Bay du Nord project consists of several oil discoveries in the Flemish Pass basin…

CNOOC Boosts Dongfang Gas Fields Output with New Platform Coming Online

Jan 20, 2025

China's state-owned oil and gas firm China National Offshore Oil Corporation (CNOOC) has started production at Dongfang 29-1 gas project in the Yinggehai Basin, offshore China.The main production facilities at the project include a new unmanned wellhead platform and a subsea pipeline…

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