Having now completed the $4.5 billion acquisition of ExxonMobil’s upstream business in Norway, Vår Energi has doubled its production to become the second largest operator on the Norwegian continental shelf (NCS) – with more growth planned in the years ahead…
According to Rystad Energy, Norway has taken several steps to reduce its upstream emissions through electrifying offshore platforms, reducing flaring volumes, installing carbon capture and storage (CCS), and other energy efficiency measures…
The environment in oil patches onshore and offshore alike has been challenging throughout 2019; worries about an economic slowdown – whether cyclical or induced by a trade war – have weighed heavily on oil prices, even in the face of reduced production by the big producers…
The chief executive of Brazilian state-run oil firm Petroleo Brasileiro SA said on Friday it was too early to commit to a climate target and that energy companies had a range of thoughts on the matter.Asked if the firm would match a pledge similar…
Brazilian state-run oil firm Petrobras is considering putting additional stakes in significant offshore oilfields up for sale, executives said on Wednesday, as the company continues to aggressively de-leverage.In a presentation, the executives said they may sell stakes in the Marlim field…
With Mexico's government insisting that energy companies increase oil and gas output before it auctions off more of the country's vast reserves or offers more partnerships with state-run Pemex, firms ranging from foreign majors to local players are scrambling to buy and sell blocks they already own…
Danish wind farm developer Orsted aims to invest in pilot projects that will use wind power and other renewable energy sources to make hydrogen fuel, its chief executive said.Henrik Poulsen told Danish business daily Boersen that 'green hydrogen'…
Santos Ltd on Tuesday increased its forecast for 2025 production by 20% underpinned by oil and gas projects it plans to develop in Australia and Papua New Guinea.The company plans to produce 120 million barrels of oil equivalent (mmboe) a year by 2025…
Oil production at Norway's giant Johan Sverdrup oilfield has risen to around 350,000 barrels per day (bpd), operator Equinor told Reuters on Tuesday.The North Sea field, which began output on Oct. 5, is now western Europe's largest oil producer…
Mediterranean-focused oil and gas producer Energean has joined a U.N.-backed initiative and committed to reducing its net carbon emissions to zero by 2050, its chief executive said on Monday.Oil and gas producers have come under heavy pressure…
Norwegian energy firm Equinor said it will take over as operator for the development of the Wisting license in the Barents Sea as of December 1. Austrian partner OMV will later assume the operator role for the operation phase.In June, the two…
Six months after the offshore installation vessel Voltaire, Jan De Nul Group orders Les Alizés, a floating installation crane vessel from the CMHI Haimen shipyard in China.Together with the Voltaire, this new vessel will be in a super-size class of its own…
Russian Energy Minister Alexander Novak said on Wednesday the forthcoming meeting of OPEC and other large oil producers may discuss adjusting oil output quotas at a next-month meeting, local news agencies reported.'We don't rule out discussing various issues…
Norwegian pipeline firm Solveig Gas has agreed to buy oil firm Capricorn Norge from Cairn Energy for $100 million, completing its transformation into a North Sea field operator, Solveig's owner HitecVision said on Wednesday.The private equity…
The floating production systems market worldwide is projected to grow by US$85.1 Billion, driven by a compounded growth of 19.5%.Floating production storage offloading (FPSO), one of the segments analyzed and sized in this study, displays the potential to grow at over 19…