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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, particularly in Europe, where thirsty refiners ramped up imports to replace Russian supplies.Since a consortium led by Exxon Mobil began pumping in late 2019…
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Iranian Oil Exports End 2022 at a High, Despite No Nuclear Deal
Iranian oil exports hit new highs in the last two months of 2022 and are making a strong start to 2023 despite U.S. sanctions, according to companies that track the flows, on higher shipments to China and Venezuela.Tehran's oil exports have been limited since former U.S. President…
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Megaton Project: Denmark's GreenGo to Build 4 GW Green Fuel Plant
Danish renewable energy developer GreenGo Energy said on Tuesday that it's cooperating on 60 billion Danish crowns ($8.77 billion) project to develop a green energy park.The company is cooperating with a local municipality in western Denmark to develop 4 gigawatt (GW) of solar and wind energy for green fuel production…
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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. Currently being tested in small scale demonstration and pilot projects, global floating wind commissioned capacity at the end of 2022 was less than 200 MW.
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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, and setting not only a company record but a historic high for the Western oil industry. Oil majors are expected to break their own annual records on high prices and soaring demand…
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VIDEO: Watch the Armach Robotics Hull Service Robot in Action
Armach Robotics, Inc. (Armach), recently passed a critical milestone during a trial of its Hull Service Robot in full over…
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Russian Oil Revenues Falling Because of Price Cap -US Official
Russian oil revenues are falling due to the price cap that Western countries imposed on its crude oil shipments and, ahead…
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Stepping on the Gas: Rochester Researchers Team to tackle Methane Emissions
With global temperatures rising, oceans warming and ice caps melting, carbon dioxide attracts the bulk of the blame throughout media…
Latest news
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U.S. Natgas Demand, Price Nosedive Continues
U.S. natural gas futures held near a 21-month low on Tuesday, keeping the contract on track for its second-biggest monthly drop in history…
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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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Planning Starts on Series of 10 Ammonia Fueled Bulk Carriers
WinGD and CMB.TECH announced plans to collaborate on a fleet of ammonia fuelled bulk carriers. The pair signed an agreement…
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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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Saudi Arabia Remains China's Top Crude Supplier
Russia remained China's second-largest source of crude oil in 2022, following repeat top supplier Saudi Arabia, as Chinese…
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MAN ES: Moving Forward on Ammonia Engines
As shipowners ponder future fuels, MAN Energy Solutions is sailing full speed ahead optimizing dual fuel marine powerplants…
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Venezuela's PDVSA Freezes Most Oil Exports for Contract Reviews
The new head of Venezuela's state oil company PDVSA has suspended most oil export contracts while his team reviews them in…
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The Top 10 Offshore Wind Energy Trends to Watch in 2023
The drivers for global offshore wind growth look good for 2023. Global offshore wind is forecast to grow from over 60 GW…
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Britain Produced Record Amount of Wind Power in 2022
Britain’s wind farms contributed a record 26.8% of the country’s electricity in 2022 although gas-fired power plants remained…
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Shell LNG Trading Gives Quarterly Boost
Earnings from Shell's liquefied natural gas (LNG) trading operations are likely to have been significantly higher in the…
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Future Fuels: 275 Altenative Fuel Ships Ordered in 2022
The total number of ships with alternative fuels ordered in 2022 was 275 (excluding battery operated vessels), according…
Offshore Oil & Gas
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New Cloud Platform for Subsea Survey Data
Subsea geo-information specialist TrueOcean GmbH launched a new digital platfom designed tor accelerate the transformation…
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Renewable Energy: AWS Waveswing Put to the Test
Inverness-based AWS Ocean Energy announced encouraging results from the current phase of sea trials of its wave energy device…
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First UMACK Anchor for CorPower WEC Installed off Portugal
CorPower Ocean, Maersk Supply Service and Dieseko have installed the first commercial-scale UMACK anchor to support the HiWave…
Shale Oil & Gas
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Shell Exits Permian with $9.5B Sale to ConocoPhillips. Its U.S. Output Now Mostly Offshore
Royal Dutch Shell said on Monday it would sell its Permian Basin assets to ConocoPhillips for $9.5 billion in cash, an exit from the largest U.S.
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Oil Drillers, Bitcoin Miners Bond over Natural Gas
On U.S. oil patches stretching along the Rockies and Great Plains, trailers hitched to trucks back up toward well pads to…
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BP Profit Triples to $2.6B in Q1 on Strong Oil, Gas Trading
BP's profit more than tripled to $2.6 billion in the first quarter thanks to stronger oil prices and bumper revenue from natural gas trading, paving t
LNG
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Greece's Sole LNG Terminal Ramps Up Imports to Replace Russian Gas
Greece has cut Russian gas imports by more than half this year thanks to increased deliveries from other producers to its…
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Cheniere to Fix Louisiana LNG Plant After Failing Pollution Test
Top U.S. LNG exporter Cheniere Energy Inc said it will repair and replace equipment at its Louisiana terminal after tests…
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Gaslog LNG Inks Deal to Use KDI's Vessel Insight Fleetwide
Kongsberg Digital signed an agreement on the Vessel Insight infrastructure with Gaslog LNG, meaning the entire fleet, counting…
Renewables
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Subsea Cable Installed on HiWave-5 Wave Energy Project
CorPower Ocean and Maersk Supply Service report the successful install of a 6.2km subsea export cable off the coast of northern…
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Incoming Shell Boss Aims Fire up Renewables Drive
Shell's incoming Chief Executive Wael Sawan is set to accelerate the group's drive to build its renewable energy business…
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Making Waves @ OSU: Energy Secretary, Senators, Governor tour Oregon State Wave Lab
U.S. Department of Energy Secretary Jennifer Granholm, Oregon U.S. Sens. Ron Wyden and Jeff Merkley and Oregon Gov. Kate Brown visited the O.H.
Technology
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Alphabet Winds Down Makani
Alphabet, Google's parent company, announced that it is calling it quits on its efforts to build and monetize its Makani…
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CMA CGM Joins Energy Observer in Hydrogen Project
French shipping giant CMA CGM is joining forces with Energy Observer within a project focusing on testing the potential of…
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Toshiba Delivers Fuel Cell System to Ship
The provider of energy industry solutions Toshiba Energy Systems & Solutions Corporation (Toshiba ESS) announced that the…
Legislation
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US Prepares Renewal of Chevron's Venezuela License Without Broader Terms
The U.S. Treasury Department is getting ready to renew in the coming days Chevron Corp's license to operate in Venezuela…
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New York City Sues Exxon, BP, Shell Over Climate Change
New York City on Thursday sued three major oil companies and the top industry trade group in state court, arguing that the…
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Biden to Target Drilling, Fossil Fuel Subsidies in New Climate Orders
President Joe Biden was set on Wednesday to sign executive actions to combat climate change, including pausing new oil and…
