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Exxon Considers Pledging Net-zero Carbon Emissions by 2050

9 hours ago

Exxon Mobil Corp is considering a pledge to reduce its net carbon emissions to zero by 2050, the Wall Street Journal reported on Thursday, citing people familiar with the matter.The report comes more than two months after the oil major's shareholders cast out three Exxon directors for the nominees of a hedge fund that promised to boost returns and better prepare the company for a low-carbon world.Exxon has not made a final decision on the net-zero pledge…

ConocoPhillips Beats Estimates on Higher Prices, Output

Aug 03, 2021

ConocoPhillips on Tuesday posted a second-quarter profit that nearly doubled from the first and topped analysts estimates, helped by higher oil and gas prices and production.A recovery in fuel demand from a pandemic-forced slump has boosted globally-traded crude prices to over $70…

Acteon Inks Deal to Support Philippines LNG Import and Regasification Terminal

Aug 03, 2021

Acteon secured an integrated project with Atlantic, Gulf & Pacific Company (AG&P) for the development of a liquefied natural gas (LNG) import and regasification terminal in Batangas Bay, called Philippines LNG (PLNG). The contract was signed…

Market Report: 'Transformation' on the Horizon in the Offshore Rig Market

Aug 02, 2021

The offshore drilling rig market is showing remarkable signs of recovery despite having faced severe headwinds of late. Throw the “green” rig revolution and further consolidation into the mix, and the next few years could be a period of real transformation for the industry…

PHOTO: Offshore Wind Blade for MingYang's 11MW Turbine Rolls of Production Line

Jul 30, 2021

China's MingYang is making progress will its MySE 11MW-203 offshore wind turbine development.The company said Friday via social media that its MySE 11-99A1 blade for the 11MW turbine had rolled off the production line at the Guangdong Shanwei offshore blade production facility on Thursday…

Pharos Wraps Seismic Survey Off Vietnam. Eyes Drilling Partner

Jul 30, 2021

Pharos Energy said Thursday it had completed its 3D seismic program on the western part of Block 125 in the Phu Khanh Basin, 'the last unexplored frontier offshore Vietnam.' The company hopes the data will help it attract a drilling partner…

Kent Acquires Majority of SNC-Lavalin's Oil and Gas Business

Jul 30, 2021

Bluewater-backed energy services firm Kent, formerly known as Kentech, has completed the acquisition of the majority of SNC-Lavalin’s oil and gas division, with a minority portion to follow at a later date. 'The Company now harnesses the strength…

Shell, Petronas Carigali, Petros Get Hold of Offshore Block in Sarawak, Malaysia

Jul 28, 2021

Malaysia's Petronas has awarded Block SK437 offshore Sarawak, Malaysia to Petronas Carigali, Sarawak Shell Berhad, Petroleum Sarawak Berhad (Petros).Block SK437 is located to the southwest of the prolific Central Luconia province, measuring 2…

T7's Tanjung Offshore Bags ROV Deal with Pioneer Pegasus

Jul 26, 2021

Malaysia-based energy industry services firm T7 Global has won a contract for the provision of mini-ROV subsea services for Pioneer Pegasus.T7's subsidiary Tanjung Offshore Services seacured the contract for remotely operated vehicle services earlier this month…

Solstad Offshore Nets Medium-term Deals for Offshore Construction Vessel Duo

Jul 21, 2021

Norwegian offshore vessel owner Solstad Offshore said Tuesday it had secured two contracts for its large construction vessels.The medium-term contracts are for the vessels Normand Navigator and Normand Frontier.The Normand Navigator, a 142,6 meters long vessel built in 2015…

Buyers Reportedly Line-up for a Crack at Seadrill

Jul 20, 2021

Noble Corp and a consortium that includes Transocean Ltd and Dolphin Drilling are competing to acquire the assets of Seadrill Ltd, the bankrupt offshore oil driller controlled by Norwegian-born tycoon John Fredriksen, people familiar with the matter said on Tuesday…

OPEC+ Deal to Boost Output to End Talks of $100 a Barrel Oil

Jul 20, 2021

The OPEC+ deal to boost crude oil output from August was always the most likely outcome to the producer group's earlier impasse, and it should be enough to end market talk of $100 a barrel oil, at least for now.OPEC+ ministers agreed on Sunday to boost production by 400…

Oil Search Rejects $6.5B Takeover Offer from Santos

Jul 20, 2021

Oil Search rejected an unsolicited takeover proposal from Santos Ltd that valued the Papua New Guinea-focused oil and gas producer at A$8.8 billion ($6.5 billion), the two companies said on Tuesday.Oil Search said the offer was not in the best interests of shareholders…

Oil Prices Drop as OPEC+ Agrees on Output Boost

Jul 19, 2021

Oil prices fell sharply on Monday after OPEC+ overcame internal divisions and agreed to boost output, sparking concerns about a crude surplus as COVID-19 infections rise in many countries.Brent crude was down $1.92, or 2.6%, at $71.67 a barrel by 1105 GMT…

Jadestone Energy Set to Complete Buy of SapuraOMV's Peninsular Malaysia Assets

Jul 16, 2021

Jadestone Energy, an oil and gas production company focused on the Asia Pacific region, has received all the necessary approvals - including one from Petronas - to complete the acquisition of SapuraOMV's Peninsular Malaysia assets.Jadestone said in April it would acquire interests in four licenses…

Current News

Exxon Considers Pledging Net-zero Carbon Emissions by 2050

Exxon Considers Pledging Net-zero Carbon Emissions by 2050

Opinion: Weak Crude Imports in Asia Undercuts Oil Bulls

Opinion: Weak Crude Imports in Asia Undercuts Oil Bulls

Subsea Tech: Taking 3D Printing to the Seabed

Subsea Tech: Taking 3D Printing to the Seabed

Record-Breaking Platform Delivered to the Hod Field From Aker Solutions’ Yard in Verdal

Record-Breaking Platform Delivered to the Hod Field From Aker Solutions’ Yard in Verdal

Chinese Firms Seek LNG Cargoes, Demand is Strong

Chinese Firms Seek LNG Cargoes, Demand is Strong

ConocoPhillips Beats Estimates on Higher Prices, Output

ConocoPhillips Beats Estimates on Higher Prices, Output

Acteon Inks Deal to Support Philippines LNG Import and Regasification Terminal

Acteon Inks Deal to Support Philippines LNG Import and Regasification Terminal

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