With the offshore wind industry growing, even during the global pandemic, offshore wind turbines are expected to grow in size and capacity, too, and Rystad Energy believes bigger is better.As previously reported, Siemens Gamesa in May announced…
Malaysia's state energy firm Petronas on Thursday paid over $700 million in sales tax to the energy-rich state of Sarawak, in a settlement that could open the way to more such payments to state governments.The payment comes just two weeks after…
Brazilian oil company Petrobras has changed the name of Lula - one of its largest offshore oil fields - back to Tupi.Petrobras had renamed the field from Tupi to Lula in 2010, however, a court recently ordered it to change the name as, while the word Lula means 'squid' in Portuguese…
OPEC and allies, led by Russia, are scheduled to hold an online meeting on Thursday to discuss compliance with their agreed output cuts and demand trends amid falling oil prices and a faltering economic recovery outlook.The key OPEC+ panel will…
Oil prices fell on Thursday, after rising steeply in the two previous sessions, as concerns about weak fuel demand re-emerged and producers in the Gulf of Mexico prepared to resume output following Hurricane Sally.Brent crude futures fell 67 cents…
If 2020 had been anything close to a normal year, the oil and gas industry would have just wrapped up its annual gathering in Singapore, most likely reassured of its ongoing essential role in humanity's future.But this is far from a normal year…
'Reimagining the North Sea as an integrated energy system is essential for the UK and Scotland to achieve their net-zero ambitions. But we need to invest now to close the gap on the key technologies needed to make this ambition a reality,' Colette Cohen OBE…
Hurricane Sally crawled offshore along the U.S. Gulf Coast on Wednesday, moving away from oil fields while soaking the region with heavy rains that could damp fuel demand in the U.S. southeast.The hurricane has shut more than a quarter of U…
Major oil industry producers and traders are forecasting a bleak future for worldwide fuel demand, due to the coronavirus pandemic's ongoing assault on the global economy.The novel coronavirus hammered fuel demand in the spring, causing consumption…
More than a fifth of U.S. offshore oil production was shut and key exporting ports were closed on Tuesday ahead of Hurricane Sally's landfall on the U.S. Gulf Coast, the second significant hurricane to shutter oil and gas activity over the last month…
Norwegian offshore oil and gas engineering and construction firm Aibel will provide a field engineering, concept optimization, and definition study for Equinor's unmanned process platform at the Krafla field in the North Sea off Norway, under a contract announced Tuesday…
Brazilian oil company Petrobras has started negotiations with the Dutch FPSO supplier SBM Offshore over a potential charter of an FPSO to be installed at the giant Buzios field in the Santos Basin, offshore Brazil.The FPSO, to be named Almirante Tamandaré…
London-listed oil company Premier Oil has informed that the completed jacket and topside are now en route to the company's Tolmount field in the UK sector of the North Sea.The 500 bcf field, sanctioned in 2018, had been on schedule for first gas by the end of the year…
Energy companies, ports and refiners raced on Monday to shut down as Hurricane Sally grew stronger while lumbering toward the central U.S. Gulf Coast, the second significant hurricane to shutter oil and gas activity over the last month.The hurricane…
In 1973, Arab members of the Organization of Petroleum Exporting Countries brought the U.S. economy to its knees. Now, the cartel created 60 years ago is more likely to do Washington's bidding.Since Saudi Arabia and other Arab OPEC members imposed their famous oil embargo as retribution for U…
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