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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, according to a report released on Tuesday.The outlook for stronger energy prices has not changed the focus on investor returns from the U.S.
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Shipping Rivals CMA CGM, Maersk to Collaborate on Green Fuels
Container shipping giants CMA CGM and Maersk said on Tuesday they will cooperate in efforts to reduce emissions in the sector, including by supporting the use of methanol and aiding research into potential fuels like ammonia. The shipping industry is grappling with which fuels and…
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Exxon in Advanced Talks for $60B Acquisition of Pioneer - Sources
Exxon Mobil is in advanced talks to acquire Pioneer Natural Resources in a deal that could value the Permian shale basin producer at about $60 billion, people familiar with the matter said on Thursday. The acquisition would be Exxon's biggest since its $81 billion deal for Mobil in…
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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, chopping a third off next year's peak price as demand tumbles.Their outlook is a reassuring message amid recent Wall Street analysts predicting up to $150 per barrel in the next two years.
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Exxon Secures Lead in top US Oilfield with $60B Buy of Shale Rival Pioneer
Exxon Mobil agreed to buy U.S. rival Pioneer Natural Resources in an all-stock deal valued at $59.5 billion that would make it the biggest producer in the largest U.S. oilfield and secure a decade of low-cost production.The deal, valued at $253 a share, combines the largest U.S. oil…
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LPG: Dual-Fuel Engines Prove Their Worth
BW LPG has demonstrated the value of dual-fuel LPG operations beyond the company’s initial aim of meeting IMO 2020 Sulphur…
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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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Spain's Energy Firms Look to Central Europe Markets for Green Hydrogen Deals
Spanish oil company Cepsa signed on Wednesday two agreements aimed at shipping green hydrogen between Spain and the Netherlands…
Latest news
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Erma First CCUS Earns LR AIP
Lloyd’s Register (LR) has awarded Approval in Principle (AiP) to ERMA FIRST for its amine absorption-based Carbon Capture…
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ABS AIP for Floating Offshore Nuclear Power Barge
A design for a floating offshore nuclear power barge from HD Korea Shipbuilding & Offshore Engineering (KSOE) and KEPCO Engineering…
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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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Russia Ships Naphtha to China via North Sea Route
Russia is shipping a naphtha cargo via the North Sea Route (NSR) as Moscow seeks to increase supplies using the route to major trade partner China…
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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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Rapid Charging Systems: Current Technology for the Future of Ferries
As the devotion to more sustainable shipping expands and regulations become more stringent, the demand for lower emissions…
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Mitsubishi Inks Deal to Supply LNG FGSS Units for 12 Ships
Mitsubishi Shipbuilding received orders from Imabari Shipbuilding for 12 units of its Fuel Gas Supply System (FGSS), a liquefied…
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Ten Things to Consider When Choosing Your Digital Twin Provider
Kongsberg Digital’s Brian Sidle identifies the top ten things to consider when choosing a provider for cloud-based digital…
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Eni, Vaar Agree to Buy Neptune Energy in $4.9 Billion Deal
Italy's Eni ENI.MI and its Norwegian unit Vaar have agreed to buy private-equity backed Neptune Energy in a deal valuing…
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Saudi Arabian Crude Oil Exports Fall 12%
“By agreeing to an additional voluntary production cut within OPEC (Organization of the Petroleum Exporting Countries) of 500…
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Cheniere, Equinor ink Long-term LNG Deal
Equinor and Cheniere announced a new 15-year purchase agreement of around 1.75 million tons of LNG per year, with half of…
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ClassNK AiP for Ammonia Fuel Supply System
ClassNK issued an Approval in Principle (AiP) for an ammonia fuel supply system for oil tanker and container ship developed…
Offshore Oil & Gas
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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.
Shale Oil & Gas
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Chevron to Buy PDC Energy in $7.6 bln Deal
Chevron Corp said on Monday it would acquire PDC Energy Inc in an all-stock transaction for $7.6 billion, including debt…
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SLB Launches Cement-free System to Cut CO2 Footprint of Well Construction
Oilfield services giant SLB, until recently known as Schlumberger, on Monday introduced the EcoShield geopolymer cement…
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China's Sinopec Finds Shale Oil at Shengli Field
A unit of state-run oil Chinese and gas major Sinopec Corp has found an initial 458 million tonnes (3.34 billion barrels) of geological shale oil rese
LNG
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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…
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Svanehøj Inks Deal to Supply Chinese LNG-import Terminal
In February 2023, Svanehøj Tank Control Systems will deliver the tank gauging system for COOEC’s six new LNG tanks for the…
Renewables
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Blue Hydrogen: A Key Player in the Future of Energy Transition
The energy sector is undergoing a transformation, with a growing focus on cleaner energy sources and technologies that reduce…
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Thinking Holistically about Hydrogen’s Place in the Energy Transition
As energy operators across the world come to terms with the continuously changing nature of the energy transition, the need…
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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
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…
