Offshore drilling contractor Seadrill is looking to buy more assets or create a larger player by merging with peers, the company's CEO said on Wednesday.Norwegian-born billionaire John Fredriksen lost the control of the company, once the world's largest driller by market cap…
China's state-owned oil and gas firm China National Offshore Oil Corporation (CNOOC) ha started production from its Wushi 17-2 oil field development project in Beibu Gulf in South China Sea.The main production facilities include a new wellhead platform and an oil and gas processing terminal…
Shell plans to scale back its oil and gas exploration and development workforce by 20% as CEO Wael Sawan widens his cost-saving drive to the highly profitable division after deep cuts in renewables and low-carbon businesses, company sources said…
Adani Ports and Special Economic Zone said on Friday it will buy a majority stake in an offshore support vessel operator for $185 million, expanding its fleet and diversifying beyond port operations.Astro Offshore, in which Adani Ports will buy an 80% stake…
The discovery of increased reserves of crude oil in Namibia has sparked interest in Namibian assets, with an index fund tracking local government bonds poised for its biggest annual jump on record.The Exchange Traded Fund tracking local government…
North Sea oil and gas company Ithaca Energy reported a nearly 34% fall in net profit for the first half of the year on Thursday, hurt by lower production, a decline in natural gas prices and impairment charges.Shares of Ithaca, fell about 2…
China’s Mingyang Smart Energy has started towing what’s said to be the world’s largest single-capacity floating wind platform, rated at 16.6MW, to the the Qingzhou IV offshore wind farm site in South China Sea.The floater, dubbed OceanX, features…
U.S. energy firms this week added oil and natural gas rigs for the third time in four weeks, energy services firm Baker Hughes said in its closely followed report on Friday.The oil and gas rig count, an early indicator of future output, rose by two to 588 in the week to August 9…
Shell reported second-quarter profit of $6.3 billion, a drop of 19% from the previous three months, as refining margins and oil and gas trading weakened, though still beating analysts' forecasts.The results were nearly 25% higher than a year earlier…
BP increased its dividend and extended its share repurchasing programme on Tuesday as it reported a forecast beating second-quarter profit of $2.76 billion, with weak refining offset by stronger oil prices and retail.The result will ease pressure…
Britain's decision to increase a windfall tax on oil and gas producers to help pay for its push to grow renewables will lead to a sharp drop in revenue and accelerate the ageing basin's decline, North Sea drillers said.The new Labour government…
Brazilian oil and gas company Enauta has resumed production from the floating production, storage, and offloading (FPSO) vessel operating at Atlanta field, offshore Brazil.Atlanta Field’s production resumed on July 26, and the maintenance period…
Brazil's state-run oil firm Petrobras has made a non-binding offer to buy a major stake in Galp Energia's huge offshore oil discovery in Namibia, Petrobras exploration and production director Sylvia dos Anjos told Reuters on Friday.If accepted…
Shell has replaced liquefied natural gas (LNG) volume it lost after exiting Russia in 2022 with a string of deals that underpin CEO Wael Sawan's bet on growing demand for the fuel as he reduces the focus on renewable energy.The new projects…
Global solar deployment to add 3.8 TWac of new project capacity by 2033 compared to 1.6 TW of wind power, while 640% growth is forecast for energy storageFrom 2024 to 2033, developers will bring more than 5.4 terawatts (TWac) of new solar and wind capacity online…
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