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Rystad Says Oil Demand is Peaking. Predicts $60 a Barrel by 2027
Global crude oil prices could drop to about $60 per barrel by 2027 as demand growth slows, say oil analysts at Rystad Energy…
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Enerpac wins Calvados Offshore Wind Farm Deal
Enerpac won a contract by Saipem to supply the Hydraulic Levelling and Fixation System for the installation of 64 transition…
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US Energy Firm Payouts to Oil Investors Top Exploration Spending for First Time
Top U.S. energy companies last year paid out more of their earnings to shareholders than they invested in new oil and gas fields for the first time…
Latest news
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MODEC’s FPSO Anita Garibaldi MV33 Achieves First Oil in Brazil
Japan's MODEC said its FPSO Anita Garibaldi MV33 has achieved first oil production for Petrobras at the Marlim field in the…
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Siemens Energy Shares Tumble 31% as Wind Turbine Troubles Exposed
Siemens Energy saw $6.3 billion wiped off its market capitalization on Friday after warning that the impact of quality problems…
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Fred. Olsen 1848 Introduces Floating Solar Array
Fred. Olsen 1848 has introduced near and offshore floating technology it has named BOLETTE.The company says it has overcome…
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OMV Petrom Makes Largest Crude Oil Discovery in Decades
Romanian oil and gas group OMV Petrom, majority-controlled by Austria's OMV, said on Tuesday it discovered new crude oil…
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Neptune Energy Starts Production from Gas Well in Germany
Oil and gas company Neptune Energy started production from its production from its operated Adorf Z17 gas well in the municipality of Georgsdorf…
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Markets: The Challenges of Developing Floating Wind at Scale
Tens of gigawatts of floating wind projects are slated for development in this and the next decade, but many obstacles remain.There…
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Exxon Banks Record $56B Profit in '22
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…
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Offshore Wind: Floating Wind is the Future
$3 billion forecast to be invested in new anchor handlers to meet floating wind demand.Floating wind is an emerging technology.
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Nova Innovation Double Size of Offshore Tidal Power Array
Edinburgh-based tidal energy company Nova Innovation has achieved another world-first by doubling the size of its Shetland Tidal Array.
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Finance: Investors Become Super-Bullish on Oil
Portfolio investors have piled into petroleum futures and options at the fastest rate since the first successful coronavirus…
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German Cabinet OKs Emergency Measures to Fast-track Renewables Expansion
Germany's cabinet on Monday approved measures to accelerate the expansion of wind and solar power by simplifying licensing and setting deadlines for p
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Guyana's Oil Exports Double, with Europe Taking Half of Cargoes
Guyana's oil exports jumped 164% last year, boosted by growing output and demand for the newest Latin American oil producer's light sweet crudes…
Exploration
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Nigeria Launches Licensing Round for Marginal Oilfields
Nigeria has launched its first licensing round for marginal oilfields in nearly 20 years, the Department of Petroleum Resources (DPR) said on Monday…
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Petronas Farms Out Part of Suriname Offshore Block to Exxon
Malaysian oil and gas company Petronas has completed the farm-down of a 50% stake in an offshore Suriname block to a subsidiary…
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Equinor Exploration Manager Steps Down to Take New Role
Norwegian oil and gas company Equinor has informed that its executive vice president Exploration Tim Dodson will step down…
Drilling
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Williams Inks Deal for Whale Deepwater Transport Services
Williams (NYSE: WMB) reached an agreement with Shell Offshore Inc. and Chevron U.S.A. Inc. to provide offshore natural gas…
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Buyers Reportedly Line-up for a Crack at Seadrill
Noble Corp and a consortium that includes Transocean Ltd and Dolphin Drilling are competing to acquire the assets of Seadrill Ltd…
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WTI-Brent Spread Narrows as Oil Market Tightens
The price gap between the world's two most actively traded oil contracts narrowed to its lowest in more than seven months, demonstrating that U.S.
Production
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Wintershall Dea Looks to Domestic Production as Russia has 'Destroyed' Trust
Germany's Wintershall Dea, a shareholder of the Nord Stream 1 pipeline and longstanding Gazprom partner, on Tuesday said…
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Production from Nigeria's Ikike Field to Start
TotalEnergies, OML99 operator (40%) in partnership with the Nigerian National Petroleum Corporation (NNPC, 60%), announces…
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Oil Supply Crunch is Coming, ConocoPhillips CEO Says
ConocoPhillips' chief executive on Tuesday warned of looming crude oil shortages and price volatility, citing limited spare…