BP and ENI have confirmed that Azule Energy, a new 50/50 independent joint venture combining the two companies’ Angolan businesses, has been officially established. Azule Energy is now Angola’s largest independent equity producer of oil and gas…
Siemens Gamesa Renewable Energy said it has been awarded an order from Green Power Investment for the 112-MW Ishikari offshore wind power project, marking the wind turbine manufacturer's first firm offshore order in Japan.The order includes 14 SG 8…
Global offshore wind developer Ørsted inaugurated the Ørsted Taiwan Offshore Wind Farms Operations and Maintenance (O&M) Hub. Located at the Port of Taichung, the O&M hub is the first operations facility with green design and the largest in…
Offshore drilling contractor Valaris on Wednesday announced that Chris Weber has commenced his role as senior vice president and chief financial officer, having been appointed to the role in late May.Weber previously served as CFO of LUFKIN Industries…
Cerulean Winds and Ping Petroleum UK have agreed to create one of the UK’s first offshore oil and gas facilities powered mainly by offshore wind. Under the agreement signed in a meeting hosted by Secretary of State, Kwasi Kwarteng, the production facility at Ping Petroleum’s Avalon site…
CGG on Tuesday announced a multi-year global data transformation and curation agreement with supermajor bp, that will play a key role in supporting bp’s Subsurface digital strategy.Ariel Flores, SVP Subsurface, bp, said, “In our ambition to…
Japanese trading houses Mitsui & Co and Mitsubishi Corp have cut the value of their stakes in the Sakhalin-2 liquefied natural gas (LNG) project in Russia by 217.7 billion yen ($1.66 billion) following Moscow's move to seize control of the project…
Wind turbine maker Siemens Gamesa lowered its 2022 profitability expectations even further on Tuesday and said it would remain negative through 2023, citing expensive raw materials, component failures and geopolitical uncertainty.The group cut its full-year core earnings margin forecast to minus 5…
BP's second quarter profit soared to $8.45 billion, its highest in 14 years, as strong refining margins and trading prompted it to boost its dividend and spending on new oil and gas production.The strong performance caps a blowout quarter for…
Wind turbine maker Siemens Gamesa is considering cutting around 2,500 jobs, or about 9% of its total, to recover from losses that have prompted its main shareholder to launch a takeover, two people familiar with the matter told Reuters.The cuts would reduce a workforce of some 27…
Danish offshore wind installation contractor Cadeler on Monday said it has signed an agreement with Ørsted for the installation of offshore foundations at the Hornsea 3 offshore windfarm, off the east coast of the U.K.Scheduled to begin in 2026…
Germany's Wintershall Dea started production at its Nova oil and gas field in the Norwegian sector of the North Sea, the company said on Monday.The subsea field, about 120 kilometers northwest of the city of Bergen, is tied-back to the Neptune Energy-operated Gjoea field…
The two largest U.S. oil companies, Exxon Mobil Corp and Chevron Corp, posted record revenue on Friday, bolstered by surging crude oil and natural gas prices and following similar results for European majors a day earlier.The U.S. pair, along with UK-based Shell and France's TotalEnergies…
Shell UK has signed a one year contract, with a year extension option, with Stena Drilling for the use of the Stena Don in the UK North Sea. The contract is due to start in Q2 2023 and will cover well activities, including a combination of plugging…
Eni has announced a further 'significant' gas discovery, totaling an estimated 1-1.5 trillion cubic feet (Tcf) of gas in place, in its first exploration well drilled in offshore Block 2 Abu Dhabi, United Arab Emirates (UAE).This discovery was…