Idle time for a drilling rig costs about $250,000 an hour. AI is being embraced across the industry to ensure it doesn’t happen.A while back, an energy major had an unfathomable, intermittent problem with its drilling operations. It was beginning to cost big money, and experts from IBM were called in. After an extensive AI and human examination of historical sensor data, the problem was determined to be caused by whale song during the mating season which was reverberating in the drill pipe…
Oil edged up on Wednesday after a drop in U.S. crude inventories, and as investors eyed a potential interest rate cut by the U.S. Federal Reserve while weighing its projections for 2025.Brent futures were up 62 cents, or 0.85%, to $73.81 a barrel at 10:40 a…
Wind parks operating in the Spanish region of Galicia will be obliged to replace ageing turbines after 25 years under a package of measures approved by the regional parliament on Tuesday, sparking an outcry from the renewables industry.Under the rules which come into force on Jan…
20+ year energy and renewable executive to lead 11 GW U.S. portfolio, continue driving build-out of new American energy industry.Ørsted announced today it has selected Amanda Dasch as its new Region Americas CEO, tapping a seasoned executive with leadership experience in the U…
Tugdock has reached a significant milestone as its Tugdock Submersible Platform (TSP) is awarded the prestigious ‘Statement of Feasibility’ from DNV, the world’s leading independent energy expert and assurance provider.This endorsement recognizes…
The Bureau of Ocean Energy Management (BOEM) announced today that it is issuing a Determination of Competitive Interest in two Wind Energy Areas (WEAs) in the Gulf of Mexico. The determination comes after an unsolicited request from Hecate Energy…
U.S. net crude oil imports are forecast to fall by 20% next year to 1.9 million barrels per day, their lowest since 1971, the Energy Information Administration said on Tuesday, pointing to higher U.S. production and lower refinery demand.The EIA expects the United States to produce 13…
Drilling waste management specialist, TWMA, has announced the appointment of Jonathan Parkes as its new Group Commercial Director. This strategic hire comes as the Aberdeen-based company continues to build on a period of rapid international growth and expansion…
Oil prices rose by nearly 2% on Monday on increased geopolitical risk after the fall of Syrian President Bashar al-Assad, and as top importer China flagged its first move towards a loosened monetary policy stance since 2010.Brent crude futures were up $1…
Brazil's state-run oil firm Petrobras PETR4.SA cut $1.1 billion in planned investments in decommissioning oil and gas platforms in its strategic plan for the 2025-2029 period, compared to what was earmarked in its 2024-2028 plan, the company told Reuters…
National Ocean Industries Association (NOIA) President Erik Milito issued the following statement after the Bureau of Ocean Energy Management (BOEM) released the Draft Programmatic Environmental Impact Statement (EIS) for oil and gas leasing…
In the wake of Donald Trump's election as U.S. President, all eyes have been trained on the U.S. Offshore Wind market and future, with his promise to stifle the U.S. Offshore Wind market in favor of oil and gas. But a recent lackluster performance…
Shell is stepping back from new offshore wind investments and is splitting its power division following an extensive review of the business that was once seen as a key driver of the company's energy transition strategy.The changes are part of…
Oil prices rose more than 2% on Tuesday as Israel threatened to attack the Lebanese state if its truce with Hezbollah collapses, and as investors positioned for OPEC+ to announce an extension of supply cuts this week.Brent crude futures posted their biggest gains in two weeks…
In support of the Biden-Harris administration’s goal of deploying 30 gigawatts (GW) of offshore wind energy capacity by 2030, the Bureau of Ocean Energy Management (BOEM) today issued a Record of Decision identifying environmental measures expected…
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