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 Campos Basin off the coast of Brazil.The FPSO is leased on a 25-year time charter contract to the state-owned Brazilian energy company—one of MODEC's longest charters…
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. Currently being tested in small scale demonstration and pilot projects, global floating wind commissioned capacity at the end of 2022 was less than 200 MW. By 2030…
Electrification is Key to Decarbonizing the North Sea
The UK government has set ambitious climate change targets within the oil and gas industry, with The North Sea Transition deal aiming to reduce emissions by 50% before 2030. In the most recent emissions report published by the North Sea Transition Authority (NSTA), the 2025 and 2027 targets appear achievable through natural field decline…
Carbon Capture & Storage: A New Lease of Life for Submarine Pipelines?
Since 2019, hydrogen and carbon capture and storage (CCS) have risen up the political agenda, globally, offering a route to decarbonization, as well as (more recently), increased energy security. Many are eying use of existing pipeline to make both happen. Elaine Maslin takes a look.Hydrogen…
Tech Files: Offshore Power Products
Insights on innovative power products upgrades that could be used to keep offshore operations moving along effectively, efficiently.Maersk Supply Service/Orsted power buoysDanish offshore vessel firm Maersk Supply Service and its compatriot offshore wind developer Ørsted, are testing…
Coronavirus, Consolidation Taking Toll On Energy Jobs
Oil and gas companies worldwide are taking an axe to their employment rolls, shedding workers to survive what is expected to be a prolonged stretch of weak demand.Exxon Mobil Corp said it will cut its workforce by 15%, or about 14,000 people, along with oil majors Chevron Corp and Royal Dutch Shell Plc.All told…
Digitalization: Trust - The Keystone for Digital Transformation
The slowdown of the world economy and plummeting energy consumption have eclipsed most other industry news. Oil exporting countries are coming to terms with limiting production to sustain reasonable prices, and operators are looking for ways to improve efficiency. At the same time, the…
Webinar: Floating Production Forecasts & Analysis
A free webinar will deliver latest forecasts and market intelligence for the global floating production industry, offering insider access to business and investment opportunities in the deepwater sector.Floating Production Systems: 2020 Forecasts & Analysis, presented by ABS and World Energy Reports, will be held July 29, 2020, 11 a.m. (EDT).
Webinar: Floating Production Forecasts & Analysis
A free webinar will deliver latest forecasts and market intelligence for the global floating production industry, offering insider access to business and investment opportunities in the deepwater sector.Floating Production Systems: 2020 Forecasts & Analysis, presented by ABS and World Energy Reports, will be held July 29, 2020, 11 a.m. (EDT).
Rystad: Oilfield Services Firms' Market Cap Halved. Offshore Drillers Have it Worst
Oilfield services companies have collectively lost almost half of their market capitalization, hit by the combination of the coronavirus pandemic and low oil prices, with offshore drillers, in particular, the most affected, Norway's Rystad Energy has said in its analysis released on Friday."It…
Shell, Eni Lead Oil Majors' Climate Ambitions But Still Fall Short - Investors
None of the big oil companies currently meet U.N. targets to limit global warming despite the most ambitious targets set by Royal Dutch Shell and Eni , investors managing $19 trillion said on Tuesday.The Transition Pathway Initiative (TPI), which represents the investors and is co-chaired by the Church of England Pensions Board…
Shell Cuts Dividend for First Time Since World War Two
Royal Dutch Shell cut its dividend for the first time since World War Two on Thursday as the energy company retrenched in the face of an unprecedented drop in oil demand due to the coronavirus pandemic.Shell also suspended the next tranche of its share buyback program and said it was…
Shell Sets Oil Sector's Broadest Carbon Reduction Plans
Royal Dutch Shell on Thursday deepened its ambition to battle climate change, setting the oil and gas sector's broadest plan to reduce greenhouse gas emissions to net-zero by 2050.The new climate goals put the Anglo-Dutch company - at least on paper - ahead of the most progressive of its rivals…
UK Limits Travel to Offshore Platforms
Britain's oil and gas sector association OGUK on Thursday banned people from traveling to offshore installations such as platforms if they have traveled to certain countries affected by the coronavirus in the previous 14 days.The ban comes after Equinor reported the oil industry's first coronavirus infection on an offshore installation on Wednesday…
Oil, Gas Players Optimistic on Profits
Companies in the oil and gas sector are optimistic about their ability to achieve their financial targets for 2020, according to a survey from standards agency DNV GL.While the sector’s growth hangs in the balance for 2020, oil and gas leaders are optimistic that they will weather the storm…
NOC Condemns Calls for Oil Export Terminals to be Shut
Libya's state oil firm NOC on Friday condemned calls to shut oil export terminals in eastern Libya controlled by military commander Khalifa Haftar ahead of a summit in Germany where he will face pressure to halt his campaign to take the capital.Tribal leaders in eastern and southern Libya…
CNPC Pulls Staff from Iraq Oilfield
China National Petroleum Corp (CNPC), a top investor in Iraqi oil, has withdrawn about 20 employees from the West Qurna-1 field operated by U.S. major Exxon Mobil because of tensions in the region, a company source familiar with the matter said.CNPC made the move on Sunday after last week's killing of Iranian general Qassem Soleimani in a U.S.
G42, ADNOC JV for AI in Oil and Gas
With a goal of creating more artificial intelligence (AI) led solutions for the oil and gas sector, Abu Dhabi National Oil Company (ADNOC) has signed a deal with compatriot technology company Group 42 (G42) to create a new joint venture.The JV will be tasked with developing and commercializing…
Saudi Aramco Kick-starts IPO
Saudi Arabia's giant state oil company finally kick-started its initial public offering (IPO) on Sunday, announcing its intention to float on the domestic bourse in what could be the world's biggest listing as the kingdom seeks to diversify its economy away from oil.But in its long-awaited announcement…
OP/ED: Offshore Wind
Set to Soar, Taking Offshore Support Industry With it.Offshore energy development is opening a new front in the United States -- the Atlantic seaboard, with strong winds, a shallow continental shelf and a proximity to dense population centers is driving strong interest in offshore wind development.
