Japan's Nippon Telegraph and Telephone (NTT) will develop a renewable energy business with its own electricity grid and is likely to invest over 1 trillion yen ($9.3 billion) by fiscal 2030, Nikkei reported on Monday.The move by the telecommunications…
China Petrochemical Corp, or Sinopec Group, has started hiring for six top management positions for a new commodities risk management unit, according to a statement posted on the state energy company's official wechat account on Sunday.Formally…
British oil major BP will sell its global petrochemicals business to Ineos for $5 billion, a transaction delivering BP's divestments target a year earlier than originally scheduled.Brian Gilvary, BP’s chief financial officer, said: “With today’s…
Chinese oil and gas company CNOOC has said it has made a significant discovery of Huizhou 26-6 in the Eastern South China Sea.CNOOC on Monday said the discovery was expected to become the first mid-to-large sized condensate oil and gas field in the shallow water area of Pearl River Mouth Basin…
Australia's Transborders Energy, a company working to develop an FLNG solution for marginal field development, has signed a partnership agreement with the floating production solutions giant SBM Offshore.Perth-based Transborders said Sunday…
Asian spot liquefied natural gas (LNG) prices remained steady this week on a continued stream of spot supply even though traders continued to cancel cargoes loading from the United States due to poor economics. The average LNG price for August…
OWC, formerly known as Offshore Wind Consultants, has set up an office in South Korea, a country with ambitious offshore wind plans. 'We continue our expansion into key emerging markets such as South Korea. We believe a local presence is central…
Construction of Gazprom's ice-resistant offshore production platform for the development of the Kamennomysskoye-Sea field began Thursday at the shipyard of Southern Shipbuilding and Repair Center (part of United Shipbuilding Corporation) in the Astrakhan Region…
According to Wood Mackenzie’s analysis, the oil price crash wiped US$1.6 trillion off the valuation of the global upstream industry.Andrew Pearson, vice president, upstream, said: 'This figure captures the impact of Wood Mackenzie’s downgraded…
Refining NZ said on Thursday it is considering shutting New Zealand's only oil refinery and turning it into a fuel import terminal in the long run, but first will reduce its operations to cut costs and breakeven into 2021.Refining NZ's Marsden…
CDWE, a joint venture company between Taiwanese company CSBC and Belgian offshore contractor DEME has taken the Final Investment Decision (FID) for the construction of ‘Green Jade’, which is the first DP3 heavy lift and installation vessel to be built in Taiwan…
Russian shipping company Sovcomflot will not redeliver the Vyacheslav Tikhonov seismic vessel to Polarcus early, as previously planned.The vessel is owned by the seismic acquisition specialist Polarcus, but has since 2011 been with Sovcomflot…
Japan's industry ministry on Wednesday launched a bidding process to select an operator for the 21 megawatt (MW) Goto offshore wind power project in Nagasaki, southern Japan, marking its first auction under a new law to promote the sector.The…
Subsea services firm Cortez Subsea has won a contract with Repsol to provide a subsea inspection management system (SIMS) offshore Malaysia.The UK-based company said the five-year contract was worth a six-figure sum. Cortez Subsea will deliver…
Oil and gas major Chevron has signed a gas sales agreement in Australia, to supply BHP Nickel West from its Wheatstone gas project.Starting in July 2020, Chevron plans to supply BHP Nickel West with a total of 22 Petajoules of equity domestic gas over the 3…
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