Schlumberger Sees International Growth in 2019
Schlumberger NV on Friday reported quarterly revenue that topped estimates and forecast single-digit growth in international markets this year even as crude prices have tumbled roughly 30 percent since October.With the drop in oil prices many producers were evaluating spending budgets for 2019, stoking concerns that a slowdown…
LNG REPORT: LNG Bunkering Vessels Rise to Nine, 30 More to Come
The liquefied natural gas (LNG) bunkering infrastructure is expanding globally and there are increasing numbers of LNG-bunker vessels which are encouraging other operators to adopt LNG.According to SEA\LNG, the multi-sector industry coalition aiming to accelerate the widespread adoption of liquefied natural gas (LNG) as a marine fuel…
BP Energy Partners Acquires Cryopeak LNG Solutions
The private equity firm focused on the energy industry BP Energy Partners (BPEP), LLC announced it has purchased a controlling interest in Cryopeak LNG Solutions Corp, a customer-centric liquified natural gas (LNG) solutions company.Cryopeak will become a portfolio company in BPEP's second private equity fund, BP Natural Gas Opportunity Partners II, LP.
Moody's Says Global Oil and Gas Heads into 2019 on Steady Footing
The global Oil and natural gas prices will be volatile, but also range-bound in 2019, Moody's Investors Service says in its annual report outlining key credit themes in oil and gas for the year ahead.While the recent announcement that OPEC and Russia will cut production helps alleviate concerns about oversupply, the pivotal…
Ørsted Bids to Build NJ's First Offshore Wind Farm
Danish energy company Ørsted submitted a bid to the New Jersey Board of Public Utilities (NJBPU) to build an offshore wind farm in response to the first offshore wind request for proposal under Gov. Phil Murphy’s clean energy agenda.Ørsted, the global leader in offshore wind energy, has pioneered and refined the approach…
Ørsted Tapped for Connecticut Offshore Wind Farm
Denmark based Ørsted has been selected by Connecticut’s Department of Energy and Environmental Protection to move forward to negotiate a fixed-price power purchase agreement (PPA) with the state’s power distribution companies for 0.42TWh (terawatt hours) per year equivalent to 100MW offshore wind capacity. Subject to contract signing and Ørsted’s final investment decision (FID)…
Sempra Energy's Port Arthur LNG in Pact with PGNiG
Poland's state-owned gas company Polish Oil & Gas Company (PGNiG) and Port Arthur LNG, LLC, a subsidiary of Sempra Energy, have entered into a definitive 20-year sale-and-purchase agreement for liquefied natural gas (LNG) from the Port Arthur LNG liquefaction-export facility under development in Jefferson County, Texas.
Offshore Outlook Appears 'Strong', Say Analysts
The outlook for offshore oilfield service contractors is strong as more than 100 new projects are aiming for 2019 sanctions, according to Rystad Energy, a Norway-based energy research and consulting firm.An expected $210 billion will be spent on offshore oilfield services globally next year, said Rystad Energy’s latest…
EDF, Shell Form JV for New Jersey Offshore Wind
The independent power producer EDF Renewables North America and Shell New Energies US, offshore wind company in the U.S, have formed a 50/50 joint venture, Atlantic Shores Offshore Wind to develop a lease area within the New Jersey Wind Energy Area (WEA).The area, spread over 183,353 acres and located off the coast of Atlantic City on the U.S.
BP Launches $3 Bln Sale of US Onshore Assets
Britain's BP has launched the sale of U.S. oil and gas onshore assets that could raise more than $3 billion to help pay for other fields in the United States it bought in October from BHP, industry and banking sources said.The sale proceeds will partly fund the $10.5 billion acquisition of BHP's onshore assets that are mostly around oil-producing fields in Texas and Louisiana.
Ushant Tidal Energy Project Gets a Data Boost
Sabella, a French tidal and ocean stream turbine developer, partnered with QOS Energy to improve the performance monitoring of its Ushant tidal energy project. The first 1MW tidal turbine is immersed 55 meters underwater off the west coast of France, and it is equipped with more than 100 sensors gathering data every five minutes using QOS Energy’s data intelligence platform to identify…
Seaway Offshore Cables Wins US Job
Subsea 7 associate Seaway Offshore Cables has won a contract to supply and install array cables for the 12-megawatt Coastal Virginia Offshore Wind (CVOW) projects in the U.S."SOC in combination with Subsea 7, has been awarded its first US offshore wind project by Ørsted Wind Power North America who are constructing the project for Dominion Energy.
LNG Shipping Market in Recovery Stage: Flex LNG
Norwegian-born billionaire John Fredriksen-owned LNG shipper Flex LNG believes that the LNG market is in the early stages of a multi-year recovery.According to a report by Flex LNG, the market for seaborne transportation of LNG has improved significantly during the third quarter with the primary driver being the nearly…
Google to Tap the Power of Offshore Wind
Google invests $700 mln in Danish data center, secures green energyGoogle will invest almost $700 million in a Danish data centre, the latest investment in the Nordic region which is known for its abundant renewable energy.Google said it would match the new centre's use of energy made from fossil fuels with green energy…
Chevron: First Oil From Big Foot
U.S. supermajor Chevron announced that its operated Big Foot deepwater project in the U.S. Gulf of Mexico has started crude oil and natural gas production.The field is located approximately 225 miles (360 km) south of New Orleans, La., in a water depth of approximately 5,200 feet (1,584 m.). The Big Foot field was discovered in 2006…
MENA Region to Lead Global Oil and Gas for Decades to Come: DNV GL
The world will need less energy from the 2030s onwards, but it will still require a significant amount of oil and gas in the lead-up to mid-century according to DNV GL’s 2018 Energy Transition Outlook, an independent forecast of the world energy mix in the lead-up to 2050.The report says, the Middle East and North Africa…
TechnipFMC Inks Deal with Chevron
TechnipFMC announced on Wednesday it has signed a five-year Surface Technologies Frame Agreement with Chevron to cover the exclusive supply of surface wellhead equipment and service in the U.S. and Canada.Richard Alabaster, President of TechnipFMC’s Surface Technologies business, said, “We are very pleased to extend our…
BY THE NUMBERS - Offshore Supply Vessels: Balanced Continued Pressure with Gradual Recovery
Global consulting firm AlixPartners, in a new paper entitled, “Too many ships, too few rigs: why recovery is still a distant dream for the OSV sector,” warns that companies counting on a quick return to stability in the OSV sector are in for a rude awakening.The September report goes on to say that OSV companies continue…
Ørsted Concludes Deepwater Wind Acquisition
Danish wind energy giant Orsted completed its previously announced takeover of Deepwater Wind from D.E. Shaw group in a deal valued at $510 million.The company closed the transaction of acquiring 100% of equity stake held by D.E. Shaw group in Deepwater Wind, which was announced in October this year, after securing approval…
Sempra Energy Signs New Mexican LNG Terminal
Sempra Energy, the US group that aims to build a liquefied natural gas (LNG) export facility near Ensenada, Mexico, to serve customers in Asia moved closer to becoming reality as the natural gas utilities holding company announced agreements with three international firms.The San Diego-based company announced in a press…
