The U.N. climate agency published a new draft of its COP28 agreement on Friday which included a range of options for the future of fossil fuel use, the most contentious issue at the summit.Over the next few days countries are expected to focus…
OPEC Secretary General Haitham Al Ghais has urged OPEC members to reject proposals for any deal under negotiation at the COP28 climate summit which targeted fossil fuels rather than emissions, a letter dated Dec. 6 and seen by Reuters on Friday showed…
Chinese wind turbine maker Envision Energy believes 'it's easy' to meet an international pledge made at the COP28 climate summit to triple renewables by 2030.'This is not visionary,' Envision CEO Lei Zhang told Reuters on the sidelines of the summit in Dubai…
Fincantieri has set the main terms and conditions for the acquisition of 100% of the shares of Remazel Engineering S.p.A. from Advanced Technology Industrial Group S.A. Remazel is a leader specialized in the design and supply of highly customized and complex topside equipment…
Investors are increasingly pessimistic about the outlook for crude oil prices as doubts grow OPEC+ will cut production enough to offset rising non-OPEC output and a deteriorating economic outlook.But many professional money managers are more optimistic about refined fuel prices…
Japan-based Mitsui O.S.K. Lines, (MOL) and Taiwan-based Ta Tong Marine Co. have through their joint venture Ta San Shang Marine Co. Ltd. (TSSM), signed a deal with the Dutch shipbuilder Damen Shipyards for the construction of a new service operation vessel (SOV)…
Brent crude futures rose in early Asian trade on Friday, reversing losses in the previous session as traders speculated on whether OPEC+ would come to an agreement on further production cuts.Brent crude futures LCOc1 gained 29 cents, or 0.4%…
India-based L&T Energy Hydrocarbon – LTEH, the hydrocarbon business of Larsen & Toubro (L&T) has received a Letter of Intent for a 'mega' offshore order from an unnamed 'prestigious client in the Middle East.'For LTEH, a 'mega' contract means the contract is valued between ₹C 10…
Full production has returned to a liquefied natural gas (LNG) train at Chevron's Gorgon facility in Western Australia, a company spokesperson said on Wednesday.On Oct. 31, an 'electrical incident' at a substation providing power supply to the…
Offshore energy industry services firm McDermott said Tuesday it had secured a 'sizable' engineering, procurement, removal, and disposal contract from the Australian oil and gas firm Santos.McDermott defines a sizable contract as between USD $1 million and USD $50 million…
Norwegian subsea services company Reach Subsea has completed the acquisition of the Australian marine survey company Guardian Geomatics Pty. Reach Subsea had announced the proposed acquisition of Guardian Geomatics in October.It said at the…
Vietnam will have a hard time reaching its offshore wind power target for 2030, a top executive at a state-owned energy company said, with foreign investors also warning of multiple regulatory hurdles that would need to be cleared.The Southeast…
Japan will make sure its energy supplies are not affected by sanctions the United States recently imposed on the Arctic LNG 2 project in Russia in which it has a stake, Industry Minister Yasutoshi Nishimura said on Tuesday.Japan, the world's second-largest liquefied natural gas (LNG) buyer…
Offshore transportation and installation contractor McDermott said Tuesday it had won a 'large' transportation and installation contract with India's Oil and Natural Gas Corporation (ONGC) for the KG-DWN-98/2 development project, located off the east coast of India…
Denmark's green investment proposal valued at USD 1.3 billion for developing the country's first 500 MW utility-scale offshore wind energy project has received approval in principle from the Bangladesh government to carry out a detailed feasibility…
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