Offshore North America News - page 62


US Offshore Wind Update: New Construction Kicks Off

Nov 07, 2022

October saw the first offshore construction activity for a commercial scale U.S. offshore wind farm. Two cable layers have commenced the laying of Vineyard Wind’s export cable. This important milestone was also accompanied by complaints around…

Mexico's Pemex Had a Plan to Fix Its Flaring Problem, but Abandoned It

Nov 07, 2022

In late 2016, to avoid racking up fines for burning too much natural gas, Mexico's state oil company Pemex struck a deal with the regulator to invest over $3 billion to fix its flaring problem at its most productive set of oil fields.But five years on…

Exxon Faces $2B Loss on Sale of Troubled California Offshore Oil Assets

Nov 07, 2022

Exxon Mobil Corp will take up to a $2 billion loss on the highly leveraged sale of a troubled California offshore oil and gas field that have been idled since a 2015 pipeline spill.The sale comes after a failed bid this year to restart production…

SLB Boosts Shareholder Returns. CEO Says Upstream Spending 'Very Resilient'

Nov 04, 2022

Top oilfield services firm SLB will raise its quarterly dividend next year by 43% and resume a share buyback program, executives said on Thursday, offering an upbeat view of energy markets. Although annual revenues have fallen every year since 2019…

BP Hires Siem Offshore's Battery Hybrid PSV for Operations in Canada

Nov 03, 2022

Norwegian offshore vessel owner Siem Offshore has secured a 4-6 month contract starting in the second quarter with BP in Canada. The battery hybrid PSV Siem Symphony will mobilize to Canada for the contract. Siem Symphony was last in Canada in 2019…

Woodmac: Offshore CCS Could Give New Lease of Life to U.S. Gulf of Mexico

Nov 03, 2022

Offshore carbon capture and storage (CCS) projects in the US Gulf of Mexico could play an influential role in the country's goal of reducing greenhouse gas emissions, the energy intelligence group Wood Mackenzie said Thursday.According to Woodmac…

QatarEnergy, ExxonMobil Place Successful Bid for Deepwater Block in Canada

Nov 03, 2022

Qatari national oil and gas company QatarEnergy said Thursday that it had, with its partner ExxonMobil, placed a successful bid for Parcel 8 of the Orphan Basin, offshore the province of Newfoundland and Labrador in Canada.The Parcel 8 winning…

NFE's Louisiana Offshore LNG Plant Start-up Slips to 2H 2023

Nov 01, 2022

U.S. firm New Fortress Energy Inc's proposed Louisiana offshore liquefied natural gas (LNG) facility likely will not begin operation until the second half of 2023, people familiar with the matter said on Monday.The 2.8 million tonne per year…

Pemex Gets Nod to Develop Once-abandoned Deepwater Gas Field

Nov 01, 2022

Mexico's oil regulator approved on Monday a revamped plan for developing the once-abandoned Lakach deepwater natural gas project, presented by state oil company Pemex, in the first public session chaired by its newly appointed head.The Gulf…

Biden Calls on Oil, Gas Firms to Stop 'War profiteering,' Threatens Windfall Tax

Nov 01, 2022

U.S. President Joe Biden on Monday called on oil and gas companies to use their record profits to lower costs for Americans and increase production, or pay a higher tax rate, as he battles high pump prices with elections coming in a week. In remarks at the White House…

U.S. Designates Offshore Wind Farm Development Areas in Gulf of Mexico

Oct 31, 2022

The U.S. Gulf of Mexico, best known to the offshore energy industry as an oil and gas province, is for the first time opening its doors to the offshore wind industry, with the U.S administration on Monday designating two areas for offshore wind development in the region…

Exxon's Record-breaking Q3 Profit Nearly Matches Apple's

Oct 28, 2022

Exxon Mobil Corp on Friday smashed expectations as soaring energy prices fuelled a record-breaking quarterly profit, nearly matching that of tech giant Apple. Its $19.66 billion third-quarter net profit far exceeded recently raised Wall Street…

Chevron's $11.2B Q3 Profit Soars Past Estimates

Oct 28, 2022

Chevron Corp  on Friday reported its second-highest ever quarterly profit, blasting past analysts' estimates, driven by soaring global demand for its oil and gas and rising production from its U.S. oilfields.The surge comes as oil companies…

Baker Hughes Increases Dividend, Authorizes Share Buyback

Oct 28, 2022

Oilfield firm Baker Hughes on Thursday said it would increase its quarterly dividend by 5.5% to 19 cents per share and that its board had authorized an additional $2 billion in share repurchases. The increases underscore an ongoing focus by…

World's First 8th Generation Drillship Starts Maiden Contract

Oct 28, 2022

Offshore drilling company Transocean said Thursday that its Deepwater Atlas, the world's first 8th generation drillship, had started its first contract.The offshore drilling rig, delivered by Singapore's Sembcorp Marine in June, is under a contract with Beacon Offshore Energy in the U…

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