News

  • TotalEnergies builds exploration position offshore Suriname

    TotalEnergies has secured operatorship of two blocks offshore Suriname under the country’s SHO Bid Round.   Blocks 6 and 8 are in water depths of 30-50 metres (98.4-164 feet), and are immediately south of deeper-water block 58, where the company and partners APA Corp. have…

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  • BASF takes stake in Hollandse Kust Zuid wind farm

    BASF has agreed to acquire a 49.5% stake from Vattenfall in the Hollandse Kust Zuid (HKZ) offshore wind farm in the Dutch North Sea for €300 million (US$358 million).   The transaction, expected to close in 4Q, takes into account the achieved status of the…

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  • Sleipnir sets two records with Sverdrup Phase 2 lifts

    Heerema’s crane vessel Sleipnir has installed the 12,050-metric ton processing platform (P2) jacket for Equinor’s Johan Sverdrup Phase 2 project in the Norwegian North Sea.   According to the company, this set a record for the heaviest lift jacket installation.   The P2 jacket is…

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  • Canada Oil Sands Output Fully Recovers from Covid

    Canadian oil sands production has fully recovered from last year’s Covid-19 shock, according to IHS Markit.   The company, which highlighted that this shock saw the largest contraction of upstream production in Canadian history, said the production has exceeded pre-pandemic levels, but warned that lingering…

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  • Portable Power Station Market worth US$494 million by 2026

    The global portable power station market size is expected to grow from an estimated US$358 million in 2021 to US$494 million by 2026, at a CAGR of 6.7 %.   The drivers for this market are the increasing use of smart electronic devices, growing demand…

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  • Neste’s Porvoo refinery completes major turnaround

    Neste Corporation has wrapped a major turnaround at its 206,000-b/d refinery in the Kilpilahti industrial area of Porvoo, Finland.   Initiated in early April and originally scheduled to run 12 weeks, the planned maintenance event was concluded and the refinery returned to operation as of…

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  • Insurance Jottings

    Prince Charles Launches Partnership with Insurance Industry to Tackle Climate Change His Royal Highness the Prince of Wales launched his Sustainable Markets Initiative (SMI) Insurance Task Force during a visit at Lloyd’s on the 24th June.   The SMI Insurance Task Force, convened by Prince…

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  • OGA Tightens Flaring and Venting Guidance

    The UK Oil and Gas Authority (OGA) has issued consolidated and updated guidance on flaring and venting, which it says sets out a tougher approach to driving reductions.   The OGA said this approach is supported by updated reporting and disclosure, such as the OGA’s upcoming…

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