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Exxon Banks Record $56B Profit in '22

Jan 31, 2023

Exxon Mobil Corp posted a $56 billion net profit for 2022, the company said on Tuesday, taking home about $6.3 million per hour last year, and setting not only a company record but a historic high for the Western oil industry. Oil majors are…

Sale of CNOOC's $3B UK Portfolio Halted

Jan 31, 2023

CNOOC Ltd, China's top offshore oil and gas producer, has halted a planned sale of its UK North Sea portfolio, which could have been valued at as much as $3 billion, Bloomberg News reported.Although initial offers failed to meet CNOOC's expectations for the business…

Archer Could Buy Baker Hughes' Coil Tubing and Pumping Business in the UK

Jan 17, 2023

Archer Limited has signed a term sheet with Baker Hughes to potentially acquire Baker Hughes’ coil tubing and pumping  (“CT&P”) business in the United Kingdom. 'The CT&P business fits well within Archer’s overall strategy to grow our drilling…

CHC to Sell Offshore Helicopter Services UK to S. Africa-based Ultimate Aviation

Jan 18, 2023

Offshore transport firm CHC Helicopter Group (CHC), has agreed to sell Offshore Helicopter Services UK (OHS UK) to Ultimate Aviation Group, a South African headquartered international aviation business for an undisclosed fee.CHC is selling OHS…

China Faces Wind Turbine and Foundation Installation Vessel Shortage

Jan 17, 2023

Over the last few weeks, we have seen three announcements by Chinese OEMs of 18-megawatt (MW) turbines. CSSC Haizhuang announced the H260-18MW turbine with a 260-meter rotor diameter. Mingyang Smart Energy has announced its new MySE 18X-28X turbine…

Three60 Energy Bags Well Engineering Services Deal with BP

Jan 12, 2023

Offshore energy industry services firm Three60 Energy has said it has secured a significant contract with the oil major BP for the provision of well engineering services across BP's global operations.The five-year Global Service Agreement, effective June 1…

$3 Billion Forecast to be Invested in New Anchor Handlers to Meet Floating Wind Demand

Jan 06, 2023

Floating wind is an emerging technology. Currently being tested in small scale demonstration and pilot projects, global floating wind commissioned capacity at the end of 2022 was less than 200 megawatts (MW). By 2030, close to 11 gigawatts (GW)…

The Top 10 Offshore Wind Energy Trends to Watch in 2023

Jan 06, 2023

The drivers for global offshore wind growth look good for 2023. Global offshore wind is forecast to grow from over 60 GW at the end of 2022 to 240 GW by 2030 and over 410 GW by 2035. But the sunny outlook must be balanced with some building dark clouds…

What's in Store for US Offshore Wind?

Jan 05, 2023

January brings with it the expectation that the United States' first commercial wind farm in federal waters will start generating power by year end, the promise that permitting for close to 5 gigawatts (GW) of projects will be finalized within…

Wind Turbines are Already Skyscraper-sized. Is There Any Limit To How Big They Will Get?

Jan 03, 2023

In 2023, some 100 miles off the coast of northeast England, the world’s largest wind turbines will start generating electricity. This first phase of the Dogger Bank offshore wind farm development uses General Electric’s Haliade X, a turbine…

OE’s 2022 Top of the Festive Video Pops

Dec 23, 2022

The holiday season is upon us, and as every year, this year too, Offshore Engineer features the top festive videos shared by offshore industry companies! Our personal favorites come from Oceaneering, Subsea 7, and Net Zero Technology Centre…

UK North Sea Merger: Serica Energy to Buy Tailwind

Dec 20, 2022

UK North Sea oil producer Serica Energy has agreed to buy Tailwind Energy Investments Ltd ('Tailwind') from Tailwind Energy Holdings LLP.The consideration for the acquisition comprises the issue of up to 111,048,124 new ordinary shares in Serica…

Vattenfall: Norfolk Offshore Wind Zone's Capacity Expanded to More Than 4.2 GW

Dec 21, 2022

Swedish energy firm Vattenfall said Wednesday that the capacity for the Norfolk Offshore Wind Zone in the UK would be increased to more than 4.2 GW.Vattenfall said that the expansion would not have any extra impact on local residents, with the construction taking place within existing plans…

Poland and the Baltics Eye Growth in Offshore Wind

Dec 21, 2022

Poland and the three Baltic countries, Estonia, Latvia and Lithuania, present a significant opportunity to expand offshore wind generation beyond the Baltic waters of Denmark, Germany and Sweden. Driven by the need to decarbonize energy supply and increase energy security…

Report: Qatar Energy Sells Feb Al-Shaheen at 20-mth Low Premiums

Dec 16, 2022

Qatar Energy has sold five cargoes of al-Shaheen crude loading in February at premiums of between $1.30 and $1.50 a barrel to Dubai quotes via its monthly tender, two trade sources said on Friday.The premiums are the lowest since June 2021 and…

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Pandion Energy Divests Interests in Three Norwegian Assets to Inpex

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