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Norwegian Rig Count Shrinks Further as More Semi-subs Get Work Elsewhere

May 19, 2023

Following the recent departures of two Odfjell Drilling-managed semi-submersibles from Norway to Africa, four more rigs have been contracted to work outside of the North Sea region in an upcoming period, with three of them managed by Transocean…

EnQuest to Develop "Low-Cost Carbon Megastore" in North Sea

May 18, 2023

UK-based oil firm EnQuest confirmed Thursday it had secured the offer of carbon storage licenses as part of the first round of UK carbon sequestration licenses issued by the North Sea Transition Authority ('NSTA').The NSTA offered 20 licenses to 12 companies…

Report: US Gulf of Mexico Oil Production Leads on GHG Intensity

May 16, 2023

The US National Ocean Industries Association (NOIA) has released a study on global oil production emissions that finds that the greenhouse gas intensity of US oil production, particularly in the U.S. Gulf of Mexico, is significantly lower than most other regions around the world…

Canada: Tidal Energy Firm Says Enters Bankruptcy as Regulatory Hurdles Derail Planned Project

May 15, 2023

Sustainable Marine Energy (Canada) Ltd, which describes itself as Canada’s most successful tidal energy company, has been placed into voluntary bankruptcy and appointed Deloitte Restructuring Inc. as trustee.The company, which proved out its technology and delivered power to Nova Scotia’s grid…

BP Ventures Back into Offshore Oil Frontiers to Boost Output

May 10, 2023

BP is ramping up oil exploration and drilling activity in frontier prospects as the energy giant tries to stem a decline in its oil and gas output after years of focusing on a shift to renewables to cut carbon emissions. The move comes as companies…

Exxon Delivers a Record First-quarter Profit on Higher Output

Apr 28, 2023

Exxon Mobil Corp on Friday reported a record first-quarter profit that was more than double from a year ago and topped Wall Street estimates as rising oil and gas output overcame a pullback in energy prices from high levels.Oil companies are…

No Discounts on Guyanese Crude for India, Guyana VP Jagdeo Says

Apr 24, 2023

South America's fastest growing oil producer has turned down the Indian government's request for discounted crude oil purchases during trade discussions, Guyana Vice President Bharrat Jagdeo said on Thursday.Guyana's oil production in total has tripled from a year ago to about 380…

UK Looks to Widen Renewables Support Scheme

Apr 17, 2023

Britain plans to widen its flagship renewable energy support scheme to encourage investment in the sector, the government said on Monday as it opened a consultation on the proposed changes. The Contracts for Difference (CfD) scheme is the government's…

Corio Generation Joins Global Offshore Wind Alliance

Apr 13, 2023

Corio Generation, part of Macquarie’s Green Investment Group, said Thursday it was joining the Global Offshore Wind Alliance, an international coalition founded by the Government of Denmark, the International Renewable Energy Agency (IRENA)…

Neptune Energy Partners with Eserv to Create Digital Twins of Dutch North Sea Platforms

Apr 11, 2023

Oil and gas firm Neptune Energy will create new “digital twins” of two offshore platforms in the Dutch North Sea, expanding its portfolio of digitized assets to 14. The twins enable engineers to carry out traditional offshore work from an onshore location…

Japan Climate Group Urges More Renewable Energy, Effective Carbon Pricing

Apr 12, 2023

Japanese companies and climate groups called on the nation's government on Wednesday to step up the introduction of renewable energy and quickly adopt carbon pricing to tackle global warming.The Japan Climate Initiative (JCI), an alliance of companies…

Oslo-listed Archer Completes Acquisition of Baker Hughes' UK CT&P Business

Apr 04, 2023

Oslo-listed offshore oil and gas services company Archer has completed the acquisition of Baker Hughes' Coil Tubing and Pumping business in the UK.In February, the two companies signed official agreements for Archer to buy Baker Hughes' coil tubing and pumping (CT&P) business in the United Kingdom…

OPEC+ Cuts Put $100/barrel Oil Back in Sight

Apr 03, 2023

Surprise new cuts to the OPEC+ group's output targets could push oil prices towards $100 a barrel, setting the scene for another clash with the West grappling with higher interest rates, analysts and traders said.The decision signals unity within…

NKT Wins €500M Contract to Deliver Cables for Ørsted's Offshore Wind Project in UK

Mar 31, 2023

Offshore cable maker NKT won a contract to deliver the high-voltage DC on- and offshore export cable system for Ørsted's Hornsea 3 offshore wind project in the UK. NKT said that the final order has an estimated contract value of approximately…

China's CNOOC Reports Record 2022 Profits

Mar 30, 2023

China's CNOOC more than doubled its net profit in 2022, benefiting from a year of elevated international oil and gas prices following Russia's invasion of Ukraine. The company, one of China's three largest state-controlled oil and gas companies…

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