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Heavyweight oilfield service providers like Saipem and Baker Hughes are moving past just oil and gas projects and embracing more renewable energy projects going forward. In 2014, non-upstream oil and gas activities accounted for 22% of revenues among service suppliers. This share grew to 27% in 2018. According to Rystad Energy, the trend to accelerate... Continue Reading →
Portugal’s Galp Energia earmarked between 1 billion euros ($1.11 billion) and 1.2 billion euros in annual investment until 2022 in an increase from up to 1 billion under a previous plan, seeking to expand its natural gas and renewable energy business. The oil company’s chief executive, Carlos Nuno Gomes da Silva, said on Tuesday it... Continue Reading →
Norwegian engineering company Aker Solutions aims to generate about half of its revenue from renewable or distinct low carbon solutions by 2030, according to the company’s 20/25/30 strategy. n a statement on Wednesday, Aker Solutions said the oil and gas industry would remain Aker Solutions’ biggest market, but over the next decade the company would... Continue Reading →
