Brought to you by Quest Offshore & Southern Cone Consultants
(Reuters) - Oil major Royal Dutch Shell's (RDSa.L) clean energy unit will provide renewable energy credits (REC) to oilfield firm Baker Hughes' (BKR.N) facilities in United States for a two-year period, the companies said on Wednesday. The move comes as climate activists, investors, banks and some governments mount pressure on oil and gas companies to announce net zero emission... Continue Reading →
(Reuters) - Siemens Energy (ENR1n.DE) proposed on Wednesday to pay a dividend on the back of a strong jump in cash flow driven by stricter cost discipline, as it completed its first business year since it spun off from former parent Siemens (SIEGn.DE). The supplier of turbines and services to the power industry, in which Siemens still holds... Continue Reading →
(Reuters) - General Electric Co's (GE.N) plan to spin off energy units into a standalone company could attract investors looking for a well-known name in renewables if they can overlook legacy fossil-fuel operations, financial experts said. Earlier on Tuesday, the 129-year-old conglomerate outlined a plan to split into three publicly traded companies focused on energy, healthcare and... Continue Reading →
(Reuters) - Royal Dutch Shell (RDSa.L) is currently committed to exploring in Africa for hydrocarbons and doing so fits the company's purpose, its exploration manager for deepwater Africa Benjamin Mee said on Wednesday at an industry event. More than 80% of Shell's exploration will be focused on core positions with an emphasis on deepwater and the company... Continue Reading →
(WO) --The U.S. government projected that the global oil market will become oversupplied and prices will fall by early next year, cooling expectations that the White House may tap the nation’s emergency reserves. Supply increases next year from OPEC nations as well as U.S. drillers will ultimately pressure prices lower. The U.S. benchmark crude will... Continue Reading →
Offshore energy engineering solutions provider Aquaterra Energy has been awarded a $4.4 million contract with BW Energy. Under the contract, Aquaterra Energy will provide procurement, engineering, manufacture, installation, and commissioning support of multiple conductor tensioning units for the repurposing of the Hibiscus Alpha jack-up rig to an offshore installation (OI), located offshore Gabon, West Africa.... Continue Reading →
Colombian majority state-owned oil company Ecopetrol's third-quarter net profit surged to 3.81 trillion pesos ($983.4 million) on higher crude prices and structural changes implemented to meet recent industry challenges, the company said on Tuesday. Earnings before interest, taxes, depreciation and amortization increased 97% to 10.4 trillion pesos. "The results of the third quarter of 2021... Continue Reading →
(OE) Shift Geothermal, a non-profit organization focused on geothermal energy, said Wednesday it was launching a bid to establish a new national center in the UK for geo-energy to realize the potential of a huge untapped UK energy source. This also offers an opportunity to use re-use existing offshore oil and gas facilities instead of... Continue Reading →
Denmark's Maersk Drilling and U.S. rival Noble Corp will merge in a $3.4 billion deal to form one of the world's largest offshore oil drilling rig companies, they said on Wednesday. The combined company is expected to reap annual cost savings of $125 million and it will take Noble Corporation's name and be headquartered in... Continue Reading →
Offshore drilling contractor Vantage Drilling has managed to cut its quarterly loss on the back of higher revenues driven by growing contracting activity and utilisation. Vantage Drilling on Tuesday reported a net loss attributable to controlling interest of approximately $21.7 million for the third quarter of 2021 as compared to a net loss of $169.3... Continue Reading →
