Fugro's profits beat estimates, but the company is still cautious about Q4
Dutch geological data specialist Fugro reported stronger-than-expected core earnings on Friday, but cautioned that worsening conditions in the offshore wind sector and tighter spending…
Amapa Governor: Brazil's Petrobras is studying a logistics base for Amapa
Clecio Liu, the governor of the Amazonian State of Amapa told reporters that Brazil's Petrobras had authorized studies to build a logistics centre in the state. Last week, the state…
How Hot Is Your Cable? Understanding Subsea Cable Thermal Performance
Sponsored WebinarHow Hot Is Your Cable? Seequent Unlocks Subsea IntelligenceCable temperature drives ampacity, reliability, and lifecycle costs. See how subsurface models and field data help predict…
Saipem, an Italian company, reports a 29% increase in its core profit for the third quarter.
Saipem, an Italian energy contractor, reported on Wednesday that its adjusted core profit for the third quarter rose by 29% on a year-on-year due to new orders it received in Turkey and Guyana.
Singapore signss 3-GW green energy deals with Malaysia
According to joint announcements released on Friday, Singapore and Malaysia have signed two agreements for the supply of electricity across borders. This could allow Singapore to access…
As US onshore oil growth slows, will improved drilling boost Gulf of Mexico offshore oil production?
Analysts and consultants predict that offshore investment will continue to grow as new technology and more friendly regulations encourage investment. In recent years, the offshore oil…
Shell begins production at Victory gas fields in the North Sea
Shell announced on Tuesday that it has begun production at its Victory field in the North Sea. At peak production, this gas can heat nearly 900,000 households per year. The gas field…
Oil companies ask Brazil's antitrust watchdog to interfere in Subsea7 and Saipem merger
Public documents obtained by show that Exxon Mobil and Brazilian state-run Petrobras, as well as oil services provider TechnipFMC, petitioned Cade, the country's antitrust regulatory body…
Indonesia sovereign wealth fund INA targets AI in healthcare and renewables, data centres and the Indonesian sovereign wealth fund INA
Chief Investment Officer of the Indonesia Investment Authority, Mr. Agung, said that the fund's priority areas are digital infrastructure, healthcare, and renewables, as it seeks to…
Inpex awards contracts for engineering design of Indonesian LNG Project
Inpex Corp, a Japanese oil and natural gas exploration company, announced on Monday that it had awarded several contracts for the early stages of design work in its $20 billion Abadi…
Fugro reduces its full-year core margin forecast as macroeconomic uncertainty persists
Fugro, a Dutch provider of geological data, reduced its margins for the full year before interest and tax (EBIT) from 11%-15% to 8%-11% on Friday due to macroeconomic uncertainty. The adjusted earnings before taxes…
Equinor and partners approve $1.3 Billion Johan Sverdrup Oilfield Expansion
Equinor, a Norwegian oil company, and its partners approved an investment of 13 billion Norwegian crowns ($1.29 billion), for the expansion at Johan Sverdrup. This is the largest oilfield in western Europe.
Britain Rejects Moroccan Subsea Power Project In Favor of Domestic Solutions
Britain has rejected a 25 billion pound ($34.39 billion) Moroccan renewable energy project that would have used solar and wind power from the Sahara to supply up to seven million UK homes.The British government, which is aimi
Africa Energy to produce first gas from South Africa's biggest gas field in 2033
Africa Energy Corp, a Canadian-listed company, aims to begin production of South Africa's biggest gas discovery by 2033. Its CEO made the announcement on Tuesday as it pushed ahead…
Singapore uses TotalEnergies and RGE JV to build a subsea connection for clean energy imports from Indonesia
A Singapore government appointed company will develop a submarine interconnector for the low-carbon electricity imported from Indonesia. Singa Renewables is a joint venture of Royal Golden Eagle (RGE)…
Indonesia approves Kuwaiti explorer to develop Anambas block in Natuna Sea
Officials said that the Kuwait Foreign Petroleum Exploration Company has received approval to develop the Anambas Block in Indonesia where it hopes to acquire additional projects. KUFPEC…
Exxon to invest $1.5 billion in Nigerian oilfield
ExxonMobil, the world's largest oil company, will invest $1.5 billion in the development of deepwater operations for Nigerian oil companies. This was announced by the Nigerian oil regulator on Wednesday.
US wants to increase offshore oil drilling through easing of pressure rules
The U.S. Interior Department announced on Thursday that it had implemented new guidelines regarding pressure differentials allowed in certain types of oil drilling, in part of Gulf of Mexico.
Fugro, a geo-data firm, has reduced its workforce and shifted business models as the US weighs in.
Dutch geological data specialist Fugro announced it would reduce more jobs and focus on different business segments, after confirming Thursday a decline in revenue for the first quarter.
Saipem announces 31% increase in core profit for the first quarter, and confirms its guidance
Saipem, an Italian energy contractor, said that its core earnings for the first quarter of 2013 increased 31% compared to last year due to the group's offshore engineering & construction activities.