After a year of production cuts, OPEC and Russia are finally near their goal of shrinking the world’s swollen oil inventories. So why are they planning to change their target? The answer lies somewhere between the murky and incomplete nature of oil data and…
On the 16th February, the Trump administration said it would offer the largest oil and gas offshore auction in US history on the 21st March for areas in federal waters off the Gulf Coast, less than a year after a similar sale yielded little corporate…
Norwegian energy giant Statoil is about to start drilling on the Carcará discovery offshore Brazil, using a Seadrill-owned drillship. The company is about to start a drill stem test on the Carcará discovery and then drill the Guanxuma prospect in BM-S-8 licence in the Santos basin offshore…
The government of the Bahamas has approved a multibillion-dollar plan by Oban Energies LLC, Palm Beach Gardens, Florida, to build a grassroots refinery and liquid-bulk storage terminal along the Northwest Providence Channel, off the southern tip of Grand Bahama Island, 35 miles east of Freeport….
Neptune Energy Group, London, has acquired the 70% of Engie E&P International SA it did not already own, gaining interests in 148,000 boe/d of oil and gas production in the North Sea, North Africa, and Southeast Asia. The deal’s value to Engie, according to…
Dubai Electricity & Water Authority will spend 81 billion dirhams (US$22 billion) on energy projects over the next five years, with renewables accounting for a growing share of electricity output, Chief Executive Officer Saeed Mohammed Al Tayer has said. Last week DEWA awarded a…
Noble Energy, Inc, has announced that its board of directors has authorized a US$750-million share repurchase programme. In addition, the Company has executed an agreement to sell its deep-water Gulf of Mexico assets to Fieldwood Energy LLC for a total value of US$710 million. …
Faroe Petroleum has provided an update on its exploration and field development programmes offshore Norway. Results are due in the next few weeks from OMV’s Iris/Hades well (Faroe 20%) which spudded last November, targeting two separate formations (one Cretaceous and the other Jurassic). …
Ørsted formerly Dong Energy, has selected Siemens Gamesa Renewable Energy (SGRE) as exclusive supplier for the wind turbines for Hornsea Project Two, which will be the world’s biggest offshore wind farm when operational in 2022. The project will deploy the SGRE eight megawatt (MW)…
Despite one hurricane, one winter storm and wave heights of up to 8.2 meters, Hywind Scotland, the world’s first floating wind farm, performed better than expected in its first three full months in production. The 30MW wind farm, operated by Statoil in partnership with…
