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NOV has signed a new contract with China's CIMC Raffles to supply another GustoMSC™ NG-20000X self-propelled wind turbine installation jack-up vessel design for Havfram, an offshore wind services company based in Norway, which recently ordered its second wind turbine installation vessel from CIMC. According to NOV, the NG-20000X-HF vessels are among the largest wind installation... Continue Reading →
(OE) Cerulean Winds plans to build an offshore integrated green power and transmission system, powered by floating wind, that North Sea oil and gas platforms will plug into for clean power, under the project called the North Sea Renewables Grid (NSRG), Cerulean and partner Frontier Power International will develop three 333km2 sites of hundreds of floating... Continue Reading →
Italian offshore energy services firm Saipem has received from ExxonMobil the authorization to proceed with the final phase of its contract related to the delivery of subsea systems for the Uaru oil field development project in Guyana. In December 2022, pending regulatory approvals, Saipem was awarded a large contract by ExxonMobil Guyana for the Uaru oil field... Continue Reading →
(Reuters) French oil and gas services group Technip Energies on Thursday announced a green hydrogen solutions joint-venture with Belgian group John Cockerill, while reporting stronger-than-expected first-quarter earnings. The need to combat climate change, along with Russia's invasion of Ukraine, have created opportunities for energy service firms, with increased investments in liquefied natural gas (LNG) and... Continue Reading →
(Reuters) - Norway's Equinor (EQNR.OL) beat first-quarter profit expectations on Thursday, driven by strong results in energy trading, although earnings were below last year's record amid a sharp fall in natural gas prices. The oil and gas producer said adjusted profit before interest and tax for January-March fell to $12 billion from $18 billion a year earlier,... Continue Reading →
(Reuters) - Shell (SHEL.L) on Thursday posted first-quarter net profit of $9.65 billion, topping analysts' forecasts, as strong earnings from fuel trading and higher liquefied natural gas (LNG) sales offset cooling energy prices. The stronger-than-expected profits followed a string of forecast-beating results from rivals including BP (BP.L) and Exxon Mobil (XOM.N) as the sector continues to benefit from strong demand and price volatility.... Continue Reading →
In 1Q23, average oil, NGL and natural gas production reached 2.68 MMboed, 1.1% higher than 4Q22, mainly due to the start of the ramp-up of P-71, in Itapu field, in Santos Basin pre-salt, the start-up of 8 new wells in Campos Basin and higher production efficiencies in the platforms. Pre-salt production reached a new monthly... Continue Reading →
Barry Parker, Contributor (OE) The path to decarbonization is defined by partnership and fueled by government funding. This month we examine the players, partnerships, and evolution of Hydrogen Hubs in the Gulf of Mexico. The Green Shipping Challenge, organized by the United States and Norway at COP 27 held in late 2022, brought about dozens of... Continue Reading →
Wendy Laursen, Contributing Writer (OE) WTIVs have always been fuel-hungry. Now they are being tasked with installations that are further, deeper and heavier. Offshore wind farms continue their march into deeper water, further from shore, with turbines that can now reach more than 270 meters high with blades 120 meters long. Designers and OEMs are pushing... Continue Reading →
(Reuters) - Mexican national oil company Pemex posted a narrower first quarter net profit of 56.75 billion pesos ($3.15 billion), the state-owned company reported in a filing with Mexico's main stock exchange on Wednesday. During the year-ago period, the Mexican oil giant's profits totaled about $6.2 billion. Revenues during the first three months of the... Continue Reading →
