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Japan to Promote Gas, LNG, Hydrogen During G7 Presidency
Japan will stress the importance of investment in natural gas, liquefied natural gas as well as cleaner fuels such as hydrogen and ammonia during its presidency of the G7 this year, a source said, but would keep it clean to meet 2050 carbon neutral goal.Japan, president of the rich-country grouping for 2023…
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Petronas Clean Energy Arm Sees India, Australia as Key in Rapid Growth Plans
Gentari, the clean energy arm of Malaysia's state oil firm Petronas, sees India and Australia as its key markets for growth and expects to tap more financing to meet its ambitious targets, its chief executive told Reuters.Petronas launched Gentari as a separate entity in June, aiming…
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Floating Nuclear Power Consortium Takes Shape
Korea Hydro & Nuclear Power (KHNP), Samsung Heavy Industries (SHI) and Seaborg Technologies have announced a consortium to develop floating nuclear power plants with Seaborg Technologies' molten salt reactor technology. The power plants will be installed on barges with a modular design able to deliver from 200MWe to 800MWe…
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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, adding new drilling inventory to its U.S. oil and gas reserves.The company has been under pressure on Wall Street to show it can keep expanding production after…
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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, northwestern Germany.The Z17 well - in the Carboniferous formation - is expected to increase Neptune’s production from the Adorf licence by 1,800 barrels of oil equivalent per day to around 6,300 boepd.
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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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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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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…
Latest news
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ADNOC Drilling Expands Fleet with $75 Million Purchase of Six Hybrid Power Land Rigs
UAE-based drilling company ADNOC Drilling said this week it had signed a $75 million deal to buy six newbuild hybrid power…
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Technip Energies Sets Up Green Hydrogen JV, Beats Quarterly Earnings Expectations
French oil and gas services group Technip Energies on Thursday announced a green hydrogen solutions joint-venture with Belgian group John Cockerill…
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Protecting Offshore Energy Sources via USV
When most people discuss energy sources such as fossil fuel and green energy, it is from an “either-or” perspective. Some…
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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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PetroVietnam Beats Q1 Crude Output Target
Vietnam's state oil firm PetroVietnam said on Monday its crude oil output was 2.6 million tonnes in the first quarter this year…
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Valero Seeks US Approval to Import Venezuelan Oil
Valero Energy Corp, the second-largest U.S. oil refiner, is seeking Washington's permission to import Venezuelan crude, according…
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VARD Electro, Yaskawa Environmental Energy / The Switch Ink Deal
Vard Electro signed a multi-million-euro agreement with Yaskawa Environmental Energy / The Switch to supply full DC distribution…
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Heavy Lift Ships Start Moving Refinery Upgrading Cargo
The Jumbo-SAL-Alliance (JSA) commenced its scope of work in the Basrah Refinery Upgrading Project for JGC Corporation, when…
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Wave of New LNG Export Plants Threatens to Knock Gas Prices
A flood of liquefied natural gas (LNG) export projects due online worldwide in mid-decade will vie against lower-cost renewable…
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NH3 FPSO Concept: Floating 'Green' Ammonia Production gets DNV AIP
An industrial-scale concept for a floating production unit to produce green ammonia has secured Approval in Principle (AiP) from DNV…
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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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Enbridge to Buy US Gulf Coast Gas Storage Facility
Canadian pipeline operator Enbridge Inc said on Wednesday it would buy a gas storage facility in the U.S.
Offshore Oil & Gas
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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
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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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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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…
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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…
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…
