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…
After what we would argue has been an incredibly eventful 2024 with massive deals, tremendous dayrate developments, further charterer backlog build, and the first series of newbuild orders in years, now comes the time when we turn our gaze towards 2025…
Portugal is beckoning a new era for offshore wind after officially signing ‘rules of procedure’ for a new Technological Free Zone located off the coast of Viana do Castelo.The news was announced during an international conference in Lisbon promoting…
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…
BP's head of offshore wind Matthias Bausenwein is leaving the company, a spokesperson told Reuters on Monday, after the oil major announced it was spinning off its offshore wind operations into a joint venture with Japanese power firm JERA.Bausenwein…
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…
The value of Norway's sovereign wealth fund, the world's largest, rose to a record 20 trillion crowns ($1.8 trillion) on Friday, doubling its value in just five years as oil and gas revenue flowed in and stock markets rose.Built since 1996 as rainy-day savings…
It was likely a fairly easy decision for OPEC+ to once again delay plans to increase oil output.The soft state of global demand is by itself sufficient reason to justify the decision at this week's meeting of the group to defer winding back some of its production cuts until at least April…
Corio Generation, the UK-based offshore wind developer backed by Australia's Macquarie Group, plans to cut a small number of jobs roles, a company spokesperson told Reuters on Thursday.Ballooning costs due to technical and supply chain problems…
Corio Generation, the UK-based offshore wind developer backed by Australia's Macquarie Group, plans to cut a small number of jobs roles, a company spokesperson told Reuters.Ballooning costs due to technical and supply chain problems and high…
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…
Equinor has appointed Jens Økland as acting Executive Vice President (EVP) for Renewables, as Pål Eitrheim steps down from the position.Økland will assume his new role from December 6, 2024. He has more than 30 years of experience in Equinor…
Trendsetter Vulcan Offshore (TVO) appointed Russell Collins as Country Manager, Australia, to head up the company’s newly opened office in Perth.“As more demand arises for TVO services in Australia and Southeast Asia, we are investing to make…
A court advisor recommended Tuesday that the auction of shares in Citgo Petroleum's parent company to pay Venezuelan claims needs to be reworked. He acknowledged that a year-long process had been in disarray and needed a fresh start.The U.S…
Donald Trump's transition team is putting together a wide-ranging energy package to roll out within days of his taking office that would approve export permits for new liquefied natural gas (LNG) projects and increase oil drilling off the U…
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