Thursday, September 24, 2020

Energy News

Germany Offered to Build LNG Terminals to Avert US Pipeline Sanctions

© Nord Stream 2 / Axel Schmidt

Berlin offered to spend 1 billion euros ($1.2 billion) to build two liquid natural gas terminals in a bid to dissuade the United States from imposing sanctions over the Nord Stream 2 pipeline…

Offshore Oil Wells, Ports Shut as Hurricane Sally Advances on U.S. Gulf

Hurricane Sally (Photo: NOAA)

Energy companies, ports and refiners raced on Monday to shut down as Hurricane Sally grew stronger while lumbering toward the central U.S. Gulf Coast, the second significant hurricane to…

Schlumberger CEO Says Oilfield Growth Will Be at Structurally Lower Rate

© Alexey Novikov / Adobe Stock

Top oilfield service firm Schlumberger NV expects to return to 2019 level pre-tax margins by the end of next year, a sign the oil industry faces a long-haul to recover from the latest oil…

Baker Hughes Plots Low Carbon Future

Snam and Baker Hughes recently tested the world’s first hydrogen blend turbine for gas networks (Photo: Baker Hughes)

Baker Hughes is pivoting to customers preparing for the transition to a low-carbon future, bolstering its footprint beyond oil and gas oilfield services, its chief executive said on Tuesday.The…

US Energy Exports Severely Disrupted by Hurricane Laura

File photo (Credit: Andrew Kendrick, U.S. Coast Guard)

Oil and gas exports from the United States have been severely disrupted by Hurricane Laura, with nearly a million barrels per day (bpd) of crude exports likely reduced this week by closures of U.S.

US LNG Loading Delays Expected as Hurricane Slams Gulf Coast

© Igor Groshev / Adobe Stock

Loadings of liquefied natural gas (LNG) cargoes from the United States likely will be delayed as a powerful storm strikes the heart of the U.S. oil and gas industry on the Gulf Coast, forcing…

Equinor Axing Jobs in US, Canada and UK

Equinor's Houston office (Photo: Ole Jørgen Bratland, Equinor)

Norwegian oil and gas firm Equinor is set to cut jobs significantly in the United States, Canada and Britain to adjust to a fall in oil prices, a company spokesman said on Wednesday.The…

Robotics: Autobots Transform in the Offshore Energy Sector

BladeBUG is a blade walking inspection robot, focusing on leading edge erosion inspection. Images from ORE Catapult.

Robots and robotics have slowly been entering our lives, in various shapes and forms (and fictional characters), from self-driving household vacuum cleaners to highly automated manufacturing systems.

Silva Tapped to Lead Corpower Ocean Portuguese Ops

Corpower Ocean Portugal Managing Director Miguel Silva.

CorPower Ocean, designer of wave energy systems, appointed Miguel Silva as head of its Portuguese operation.The news comes shortly after CorPower revealed plans for a new $18.1m R&D, Manufacturing…

Flexible ballast water treatment for offshore

Requirements in the offshore industry are diverse. With vessels ranging from smaller supply ships and anchor handling tugs to large drill ships and accommodation platforms, there are seldom one-size-fits-all solutions.

RWE Eyes Renewables Deals as Part of $8.4 B Expansion

For illustration  - Credit: Innogy (File Photo)

Germany's largest power producer RWE plans to spend part of its 7 billion euro ($8.4 billion) war chest on growing its 24.7 gigawatt pipeline of renewables projects, its CFO said, just…

China Ramps up US Oil Purchases Ahead of Trade Deal Review

© nevskyphoto / Adobe Stock

U.S. crude oil shipments to China will rise sharply in coming weeks, U.S. traders and shipbrokers and Chinese importers said, as the world’s top economies gear up to review a January deal…

Woodside Says It's on the Lookout for Acquisitions

(Photo: Woodside)

Australia's Woodside Petroleum is looking for acquisitions, ideally close to its existing assets or offering it control over assets that are already producing or close to producing, its boss said on Thursday."We're clearly scannin

Libya's NOC Warns of Dangers at Oil Ports

© Haris Andronos / Adobe Stock

The chairman of Libya's National Oil Corp (NOC) on Saturday warned against the risk of a disaster at the country's oil ports due to a growing military presence with storage tanks held at…

Saudi Aramco's Profit Plunges, Sees Signs of Recovery

(Photo: Saudi Aramco)

State oil giant Saudi Aramco's profit plunged 73% in the second quarter of the year, as a slump in energy demand and prices due to the coronavirus crisis hit sales at the world's biggest…

U.S. Sends First Crude Shipment to Saudi Arabia in Years

Illustration by evgenii/AdobeStock

The United States sent a shipment of crude to Saudi Arabia in June, data from the U.S. Census Bureau showed on Wednesday, in what appears to be the first such delivery since the U.S. ban…

ConocoPhillips to Reverse Most Output Cuts by End of Q3

(File photo: ConocoPhillips)

ConocoPhillips said on Thursday it expects production curtailments in the current quarter to be roughly half as much as last quarter and will restore most of its output by the end of September…

Total Books $8 Bln Asset Impairments

© Ricochet64 / Adobe Stock

French energy group Total will book an exceptional impairment charge of $8 billion mainly on its Canadian oil sands and liquefied natural gas projects, it said on Wednesday."Overall, the exceptional asset impairments that will the

US-China Cold War Would Redirect Energy Flows

© prathaan / Adobe Stock

Worsening diplomatic relations between the United States and China are putting a spotlight on their economic inter-dependency in the context of global supply chains for both technology…

S.Korean Refiners Post Record H1 Losses

© supakitmod / Adobe Stock

Two refiners in South Korea, the world's fifth largest crude oil importer, posted their biggest losses ever in the first half when oil prices slumped as the COVID-19 pandemic ravaged fuel demand.SK Innovation Co Ltd…