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Oil Rises to 11-month High
Oil hit an 11-month high just below $57 a barrel on Tuesday, bolstered by Saudi Arabia's plans to limit supply, offsetting worries that rising coronavirus cases globally would curtail fuel demand.Brent crude settled up 92 cents, or 1.7%, at $56.58 a barrel by after touching its highest level since last February at $56.75. U.S.
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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 gas leases on federal land and cutting fossil fuel subsidies as he pursues green policies in stark contrast to those of his predecessor Donald Trump.The orders…
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Renewable Energy: Wave Power Projects Takes a Big Step
Eco Wave Power has secured the engineering coordination permit from the Municipality of Tel-Aviv Jaffa (permit number 2020-3249) needed for the cement works and installation of 10floaters for the EWP-EDF One wave energy project in the Port of Jaffa, Israel.This permit allows Eco Wave…
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CorPower Extends Equity Funding for Commercial Scale Demo
After securing a private placement of 9 million Euros, CorPower has extended its equity funding to 20.3 million Euros, for the commercial scale demonstration of its wave energy technology. The investment round was led by Midroc New Technology and included SEB Greentech VC, family offices and private investors.
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OPEC+ to Weigh Modest Output Boost, Sources Say
OPEC+ oil producers will discuss a modest easing of oil supply curbs from April given a recovery in prices, OPEC+ sources said, although some suggest holding steady for now given the risk of new setbacks in the battle against the pandemic.The Organization of the Petroleum Exporting Countries and allies…
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Eco Wave Power Commences Grid Connection Works in Israel
While wave power is still in its infancy relative to offshore wind in the renewable power space, several companies are making…
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Video: The Floating Production Market Faces Headwinds, But Opportunities Exist
There are around 200 offshore oil and gas projects currently being planned for development using a floating production system…
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Virtual Conference to Focus on Transatlantic Marine Renewables
Marine industry experts from Portugal and Canada are staging a special Blue Economy conference to spark transatlantic business growth.
Latest news
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Autonomous Offshore Power Trials Get Underway off Hawaii
With the advent of autonomy on and under the water, part of the value proposition is the ability to stay at sea, on station…
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Total Keeps Dividend But Cuts Investment Target
Total trimmed its 2020 investment target on Friday after a sharp drop in third-quarter net profit, though the French oil…
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Chevron Posts Q3 Profit
Chevron on Friday reported an adjusted third-quarter profit as oil prices recovered from spring lows and spending cuts benefited…
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GIEK Doubling Down on Offshore Wind
Tasked to provide the financial power to help Norwegian companies export their wares to the world, Wenche Nistad, CEO of…
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Lundin Energy Chief Schneiter: Output Trending Upward at Sverdrup
Norway's Johan Sverdrup oilfield, the largest in western Europe, is ramping up production in the fourth quarter after the government increased its pro
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World's Largest Wealth Fund Cites Paucity of Good Green Energy Deals
While societal, political and corporate pressure continue to push innovation on renewable energy, the world's largest wealth…
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New Lidar Tech Approved for Use by SGRE for Wind Turbine Testing
Siemens Gamesa recently tested a new technology together with ZX Lidars, and based on the results both on the medium range…
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Rolling the Dice in Chaos: The Prospects of Investment in the Gas Industry
As stated in the Declaration of Malabo at the 5th Summit of Heads of State and Government of the GECF Member Countries, in…
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Offshore Oil Wells, Ports Shut as Hurricane Sally Advances on U.S. Gulf
Energy companies, ports and refiners raced on Monday to shut down as Hurricane Sally grew stronger while lumbering toward the central U.S.
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Robotics: Autobots Transform in the Offshore Energy Sector
Robots and robotics have slowly been entering our lives, in various shapes and forms (and fictional characters), from self…
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Silva Tapped to Lead Corpower Ocean Portuguese Ops
CorPower Ocean, designer of wave energy systems, appointed Miguel Silva as head of its Portuguese operation.The news comes…
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Saudi Aramco's Profit Plunges, Sees Signs of Recovery
State oil giant Saudi Aramco's profit plunged 73% in the second quarter of the year, as a slump in energy demand and prices…
Exploration
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Nigeria Launches Licensing Round for Marginal Oilfields
Nigeria has launched its first licensing round for marginal oilfields in nearly 20 years, the Department of Petroleum Resources (DPR) said on Monday…
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Petronas Farms Out Part of Suriname Offshore Block to Exxon
Malaysian oil and gas company Petronas has completed the farm-down of a 50% stake in an offshore Suriname block to a subsidiary…
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Equinor Exploration Manager Steps Down to Take New Role
Norwegian oil and gas company Equinor has informed that its executive vice president Exploration Tim Dodson will step down…
Drilling
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Shale Pioneer Chesapeake Energy Files for Bankruptcy
Chesapeake Energy Corp filed for Chapter 11 on Sunday, becoming the largest U.S. oil and gas producer to seek bankruptcy…
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Melbana Gets More Time to Find Beehive Drilling Partner
Australian oil and gas company Melbana Energy has been given more time to work on its Beehive offshore prospect in the Bonaparte Basin off W.
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US Proposal Would Allow Oil and Gas Drillers to Delay Royalty Payments
The U.S.
Production
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Chevron CEO Sees Continued 'Choppy Economic and Price Activity'
The chief executive of U.S. oil giant Chevron Corp on Monday said the uncertainty of the COVID-19 pandemic has it planning…
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OPEC+ Meets to Decide on Oil Output Cuts Easing
OPEC and allies such as Russia meet on Wednesday to decide oil output policy from August amid broad market expectations the…
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Indonesia's Pertamina Expects up to 180,000 bpd from Rokan Block when It Takes Over from Chevron
Indonesian state oil company PT Pertamina expects to produce 170,000-180,000 barrels per day (bpd) at the Rokan block when…
