Wind turbine maker Vestas posted a deep first-quarter loss and slashed its 2022 margin forecast due to the war in Ukraine and writedowns in its offshore business, reflecting an industry-wide struggle to turn a profit despite record demand.Focus…
Oil and gas companies BP and Equinor have been awarded licenses to store CO2 under the UK North Sea seabed.According to the North Sea Transition Authority (NSTA), which awarded the licenses with an appraisal term of eight years, the Southern…
Malaysian state energy firm Petronas is seeing growing demand for gas as the world lifts COVID-19 restrictions and prioritizes energy security due to Russia's invasion of Ukraine, its chief of upstream operations told Reuters on Wednesday.Petronas…
U.S. oil and gas producer Hess Corp reported a 65% rise in first-quarter profit on Wednesday, helped by a jump in energy prices due to Russia's invasion of Ukraine.Oil prices hit multi-year records during the quarter as the conflict in Ukraine led to sanctions against Russia…
Equinor reported record earnings on Wednesday, as the war in Ukraine triggered an energy supply crunch that sent gas prices soaring to all-time highs.The state-controlled Norwegian company has emerged as a big winner in Europe's energy crisis…
U.S. government officials in March asked Brazil's state-run oil company Petrobras whether it could increase crude output after Russia's invasion of Ukraine sent global prices soaring, three people with knowledge of the matter told Reuters. They came away empty-handed…
French oil and gas services provider Technip Energies expects to ramp up activity outside of Russia this year, it said on Monday as rising demand for liquefied natural gas (LNG) helped it to a better than expected first-quarter profit.'Despite…
Exxon Mobil Corp said on Wednesday that its Russian unit Exxon Neftegas Ltd has declared force majeure for its Sakhalin-1 operations, where it has become increasingly difficult to ship crude out of due to sanctions on Russia.The Sakhalin-1 project…
Wind turbine makers racked up hefty losses last quarter, swelled by rocketing costs and cut-throat competition despite being more in demand than ever.The industry started seeing a steep decline in prices and increased competition back in 2017 as some governments moved away from generous…
Offshore seismic services and technology company ION Geophysical has won a five-year contract with Brunei Shell Petroleum Co. (BSP), a joint venture between the Government of Brunei and Shell, for a digital solution to manage marine logistics…
Chevron Corp's first-quarter profit nearly quadrupled from the same period a year ago, easily surpassing Wall Street's forecasts as oil and gas prices surged following Russia's invasion of Ukraine.The second-largest U.S. oil producer on Friday posted adjusted earnings of $6…
Sweden-based wave energy technology company Ocean Harvesting said Friday it was developing a novel concrete hull for the prime mover (buoy) of its InfinityWEC wave energy converter that is set to undergo sea trials later this year.According to the company…
East Timor's national oil company wants to start producing natural gas from its Greater Sunrise fields by 2028 or 2030, the company's head said on Tuesday in Houston, hoping to develop the offshore project that has been stuck in limbo for decades…
Danish offshore drilling company Maersk Drilling has agreed to sell its jack-up rig drilling rig Maersk Convincer to ADES for $42.5 million in cash.The benign environment offshore drilling rig is expected to be delivered to ADES after the completion…
Norway's Vår Energi raised its annual dividend and posted a sharp rise in first-quarter profit on Wednesday, aided by a surge in oil and gas prices following Russia's invasion of Ukraine.Vår Energi, majority-owned by Italy's Eni, reported a pretax profit of $1…
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