BP supports the addition of U.S. oil crude grade WTI Midland to global dated Brent, suggesting the removal in the medium-term of Brent and Forties grades from the benchmark as flows have evaporated, according to a document seen by Reuters.Dated Brent…
Oilfield services firm Halliburton on Monday warned the world is headed for a period of energy scarcity following years of underinvestment in bringing more fossil fuels to market.'For the first time in a long time, we will see a buyer looking for a barrel of oil…
U.S. oil producer Chevron Corp on Wednesday said it plans to boost spending on new oil and gas projects in 2022 by 20% to $15 billion, while also raising shareholder returns.Major oil companies are responding to a jump in profits this year from higher oil and gas prices…
Exxon Mobil on Wednesday set annual capital spending through 2027 at $20 billion to $25 billion, allocating money to low-carbon projects and extending its previously projected investment rate for two years.The top U.S. energy producer slashed costs after a historic $22…
U.S. crude oil production fell 3.5% in September after Hurricane Ida temporarily halted most crude production in federal waters of the Gulf of Mexico, according to a monthly report from the U.S. Energy Information Administration on Tuesday.Crude output dropped 380…
Volvo Penta has secured a contract to provide quad IPS propulsion systems for the four new offshore wind farm crew transfer vessels (CTVs) that will be built at Blount Boats for American Offshore Services (AOS). The new 30-meter (99-ft.) twin…
The Biden administration proposed a slew of changes on Friday to the nation's federal oil and gas leasing program, including hiking fees on drilling companies and limiting their access to sensitive wildlife and cultural zones.The recommendations…
Sustainable Marine is set to demonstrate that Nova Scotia can produce vast amounts of clean and predictable energy from its world-famous tidal streams, after completing construction of its substation at Grand Passage.“We are on target to connect…
The U.S. Interior Department said on Wednesday it approved the South Fork offshore wind power project off the coast of Rhode Island, making it the second commercial-scale wind project with federal approval.The decision comes as the administration of President Joe Biden seeks to rapidly expand the U…
Well construction firm DeltaTek said Tuesday that Petronas had recently used its cementing technology offshore Mexico for the first time.This project, at a deepwater exploration well (BC-1) off the coast of Tampico in over 5000ft of water, marked…
U.S. Energy Secretary Jennifer Granholm on Tuesday urged U.S. energy companies to increase oil supply amid 'enormous profits' as President Joe Biden seeks to bring down the price of gasoline for American families.Granholm said the oil and gas…
The United States said on Tuesday it would release millions of barrels of oil from strategic reserves in coordination with China, India, South Korea, Japan and Britain, to try to cool prices after OPEC+ producers repeatedly ignored calls for more crude…
Russian oil company Lukoil has said it has discovered an oil field within the Yoti West structure at Block 12 offshore Mexico. The field was discovered after drilling the first exploration well. According to preliminary estimates, the initial oil in place reaches 250 million barrels…
Institutional investors advised by J.P. Morgan Global Alternatives, in cooperation with Norwegian offshore services firm Havfram, have signed a letter of intent with China's CIMC-Raffles to build 'a series of next-generation, state-of-the-art wind turbine installation vessels (“WTIV”)…
A worker was medevaced from a platform approximately 18 miles southeast of Grand Isle, La., the U.S. Coast Guard said on Friday.Coast Guard Sector New Orleans watchstanders received a call at approximately 2:40 a.m. stating a worker offshore was experiencing seizure like symptoms…
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