Offshore wind spending is increasingly closing the gap on oil and gas (O&G) investments and is forecast to surpass them in several key markets by 2030, according to Rystad Energy. While global O&G capex will rise nominally in this timeframe, anticipated growth in offshore…
The new Global Energy Alliance for People and Planet (GEAPP) was launched on the 2nd November at COP26 to accelerate investment in green energy transitions and renewable power solutions in developing and emerging economies worldwide. Over the next decade, the Alliance aims to unlock…
Sylvia Boer, director of Amsterdam IJmuiden Offshore Ports (AYOP), shares more about the association’s recently launched DecomMissionBlue initiative to tackle the growing challenge of decommissioning and recycling offshore and maritime objects and other old assets. “Because the energy transition is huge and we have so…
Bureau Veritas (BV) has been awarded a three-year contract by Ithaca Energy to deliver verification certification and classification services, and environmental verification and audit services for six assets in the UK North Sea. The six assets comprise the Captain platform, the Captain FPSO, the…
Construction has started of the complex in Sicily’s Gela area which will handle gas from the offshore Argo and Cassiopea fields, Eni revealed in its latest results statement. The associated investments are over €700 million (US$814 million). Work should take three years to complete,…
Australian investment bank Macquarie Asset Management said on the 29th October that it has agreed to buy Germany’s second-largest gas pipeline operator, Thyssengas, from DIF and EDF Invest to use the company’s grid network to transport climate-friendly gases. Macquarie, which already owned Thyssengas between 2011 and 2016, did not…
A daily increase of 400,000 barrels in oil output would be enough to meet demand, according to Iraqi Minister Ihsan Abdul Jabbar. The minister commented days before representatives from some of the world’s producers meet to talk about output levels. The 23-nation OPEC+ alliance,…
Saipem and TechnipFMC have announced that they have entered into a global commercial agreement which will allow them to identify projects worldwide that could be jointly executed for the benefit of clients. The deal will pursue specific subsea umbilicals, risers and flowlines (SURF) projects…
Norwegian oil and gas company Equinor recorded a profit of US$1.41 billion in the third quarter of 2021 due to higher prices and solid operating performance. Equinor reported on the 27th October its adjusted earnings of US$9.77 billion for the third quarter of 2021,…
Timor Resources Pty Ltd, Brisbane, has spudded the first onshore exploration well in East Timor in more than five decades. The well, Feto Kmaus, lies in production sharing contract TL-OT-1708 in Suai near the island’s southern coast. It is also the first well…
