Orsted, the world's largest offshore wind developer, said on Monday it would buy U.S.-based Deepwater Wind LLC for $510 million as part of its strategy to expand in a major growth market.The still small U.S. offshore wind sector is seen as one…
China's Changqing oil and gas field, operated by state energy giant PetroChina, is expected to produce record amount of natural gas this year exceeding 38 billion cubic meters (bcm), as more wells were brought online, its parent company CNPC said on Monday…
China's CNOOC plans to expand its LNG project in eastern Jiangsu province to meet rising demand from more regions, state-media China News reported citing a project manager from CNOOC.CNOOC will lift the storage tank facility of each of the four…
Baker Hughes, the world's second-largest oil services company, will take a 5 percent stake in Abu Dhabi National Oil Company's (ADNOC) drilling unit for $550 million under a tie-up announced on Monday.Baker Hughes (BHGE) becomes the first foreign…
Norway expects its gas export price to fall by more than a quarter by 2021 as increasing global liquefied natural gas (LNG) supplies outstrip growth in European demand.Norway's 2019 fiscal budget on Monday showed it expects the average price for Norwegian gas to fall to 2…
Norway has again revised up the estimated cost of developing the Martin Linge oil and gas field, which state-controlled Equinor bought from France's Total last year, with the start-up delayed until 2020, according to the fiscal budget.The North…
Iran's Oil Minister Bijan Zanganeh has dismissed as 'nonsense' claims by the Saudi crown prince that Saudi Arabia can replace sanctions-hit Iranian oil in the market.'(Mohammed) bin Salman's remarks and such bragging can only satisfy (U.S. President Donald) Trump…
Offshore driller Ensco Plc said on Monday it plans to buy smaller rival Rowan Cos Plc in an all-stock deal valued at $2.38 billion, as it looks to expand its fleet and benefit from a partnership with Saudi Aramco.This is Ensco's second deal…
French energy group Total and Algerian state-owned firm Sonatrach have signed new agreements, including a contract to develop the Erg Issouane gas field and plans to create a joint venture.The new concession contract to jointly develop the Erg Issouane gas field located on the TFT Sud permit…
The United States is 'in the midst of an internal process' of considering sanctions waivers for countries that are reducing their imports of Iranian oil, a U.S. government official said on Friday.The Trump administration, which withdrew from a deal over Tehran's nuclear program in May…
North American drilling contractor Precision Drilling Corp on Friday said it would buy Trinidad Drilling Ltd in a deal valued at C$1.03 billion ($796 million), trumping a hostile bid from rival Ensign Energy Services.The acquisition, which has an enterprise value of about C$4 billion…
Neptune Energy has appointed Odin Estensen as Managing Director of its Norwegian business, based in Stavanger.Estensen joins Neptune Energy from A/S Norske Shell, where he is currently the Norway Operated Asset Manager.With more than 28 years’ experience in the oil and gas sector…
Belgium's 219 megawatt (MW) Northwester 2 offshore wind farm project secured a 210 million euro ($242 million) loan from the European Investment Bank (EIB), the bank said on Friday.EIB said the project, estimated to cost around 642 million euros…
Aker Solutions said it has secured an order from Petrobras to provide a subsea production system and related services for the Mero 1 project, the first full production project within the major Mero field development, one of the largest oil discoveries in Brazil's pre-salt area…
Plastics and other petrochemical products will drive global oil demand to 2050, offsetting slower consumption of motor fuel, the International Energy Agency (IEA) said on Friday.Despite government efforts to cut pollution and carbon emissions from oil and gas…
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