Britain's business secretary Kwasi Kwarteng said on Sunday he welcomed BP's decision to exit its 19.75% stake in Russian state-controlled oil firm Rosneft in the wake of Russia's invasion of Ukraine.'Russia's unprovoked invasion of Ukraine…
BP said on Sunday it plans to abandon its 19.75% stake in oil giant Rosneft in the wake of Russia's invasion of Ukraine, marking an abrupt and costly end to 30 at times fraught years operating in the oil-rich country.The British oil and gas giant did not say how it planned to exit its stake…
The Biden administration's sale of offshore wind development rights off the coasts of New York and New Jersey continued to shatter all records on Friday, reaching over $3.8 billion with one single block fetching over $1 billion.The auction, which began on Wednesday…
Swedish offshore vessel operator Viking Supply Ships said Friday its contract for four anchor handling tug supply (AHTS) vessels announced earlier this month could be postponed or canceled due to the Russian invasion in Ukraine. Viking Supply…
BASF, co-owner of Nord Stream 2 backer Wintershall Dea, said it was prepared to push through an initial public offering of the oil and gas business next year if its joint venture partner LetterOne upholds its opposition to the transaction.'Given…
The U.S. Coast Guard rescued nine people Thursday from a burning jack-up drilling rig near Sabine Pass, Texas.Coast Guard Sector Houston-Galveston watchstanders received a notification at 12:51 p.m. from the dredging vessel Ohio that the Pride…
Sumitomo Electric, a Japanese manufacturer of electric wire and optical fiber cables, has signed a memorandum of understanding with offshore wind installation firm Seaway 7 with the intention to collaborate on offshore wind projects in Japan and the wider Asia-Pacific region…
Italian oil company Eni has started production from the Ndungu Early Production (EP) development offshore Angola.The field, located in Block 15/06 of the Angolan deep offshore has been developed via the Ngoma FPSO vessel.'The start-up of Ndungu EP is yet another example of how Eni Angola…
The UK-based Offshore Wind Growth Partnership (OWGP) on Friday announced the winners of its first Innovation Grant Funding Competition in which eleven UK firms secured a share of OWGP's £3m Innovation Grant funding pot.Launched in September 2021…
When bidding for six leases in the New York Bight commenced on Wednesday morning, the minimum option price to secure development rights was set at close to $49 million. After the first day, 13 active bids had resulted in cumulative bids of over $1…
Nigerian oil company Seplat has agreed to buy ExxonMobil's shallow water assets in Nigeria via the acquisition of the U.S. oil company's Nigerian subsidiary Mobil Producing Nigeria Unlimited ('MPNU'), in what Seplat said was a transformational acquisition for the company…
Russian oil company Lukoil said Friday it had completed the acquisition of the 50% operator interest in the Area 4 project in Mexico through the acquisition of the operator's holding company. The proposed acquisition was first announced in July 2021…
The Biden's administration's sale of offshore wind development rights off the coasts of New York and New Jersey surged past all expectations on Thursday to reach more than $3.3 billion, with bidding still not complete.The auction, which began on Wednesday and is due to resume on Friday morning…
Matthias Warnig, the chief executive of Nord Stream 2 AG who has been targeted by U.S. sanctions, is stepping down from the supervisory board of German soccer club FC Schalke 04, the club said on Twitter.It said Warnig had informed the club that he was resigning with immediate effect…
The New York Bight auction is made up of six leases containing an estimated 5.6 GW of bottom-fixed offshore wind capacity that can serve New York and New Jersey offshore wind requirements, amongst others. Till now, New York and New Jersey have secured a combined capacity of 8…
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