After a run up earlier this year, crude oil prices have been collapsing in recent months. Prices dropped nearly 25 percent in November alone, the biggest monthly loss in a decade, as traders stress over a possible glut in global supplies. Record production…
Oil tanker owners scrapped a record number of ships this year. Those who did missed out on a sharp rally in rates. Owners purged a record 100 of the industry’s main crude carriers so far, with most of that happening in the first half…
BP and its partners have taken the final investment decision (FID) for Phase 1 of the cross-border Greater Tortue Ahmeyim LNG development. The decision was made following agreement between the Mauritanian and Senegalese governments and partners BP, Kosmos Energy, Petrosen, and SMHPM. The…
Equinor has exercised an option to acquire a 50 % interest in the offshore wind development project Bałtyk I in Poland from Polenergia. This transaction is a follow-up of the agreement between the two companies which came into force in May 2018 , by…
EDF Renewables, Canada has announced the signing of a 20-year Renewable Electricity Support Agreement (RESA) with the Alberta Electricity System Operator (AESO) for the renewable attributes related to the 201.6 megawatt (MW) Cypress Wind Project. The contract, secured through Round 2 of the Renewable…
European oil and gas stocks are about to close what would have been their best year since 2014 — if only the last quarter had behaved. Oil companies enjoyed a steady increase in crude prices for most of 2018, with the Brent and WTI…
Oceaneering International Inc has secured a three-year provision of inspection enactment services contract with Petrofac’s Engineering and Production Services division. The company will retain its existing contract on one of Petrofac’s Duty Holder assets, while expanding its service scope to include two additional North…
Two seismic survey vessels have recently completed their stay at Damen Shiprepair Amsterdam (DSAm) where they were repaired, cleaned, and repainted. Sister-vessels Oceanic Sirius and Oceanic Vega have completed a round-the-clock, ten-day maintenance programme at Damen’s yard, Damen said on the 20th December. According…
Thailand state company PTT Exploration and Production (PTTEP) has won a bid to develop and produce gas from two concessions in the Gulf of Thailand. The rights for Erawan and Bongkot concessions were secured in an auction conducted by the Thailand Energy Ministry. These…
Vestas has received a 33 MW order from German municipal utility Enercity Erneuerbare GmbH, a subsidiary of Hannover-based utility enercity AG, for the Klettwitz III B.A. 2.2 project located in Klettwitz in the Brandenburg region in eastern Germany. The project will comprise ten V117-3.3…
