British oil firm EnQuest's shares slumped to a three-year low on Tuesday after Cairn Energy, its partner in its flagship Kraken project, cut its estimate of the oilfield's reserves by around a fifth.The Kraken oil and gas field in the British North Sea is EnQuest's largest producing asset…
The offshore wind parks specialist Fred Olsen Windcarrier won its first major deal in the Asian market after being picked to install the 8MW Siemens Gamesa Renewable Energy (SGRE) turbines at the Yunlin offshore wind farm off Taiwan.Fred. Olsen…
Indonesia has approved the development plan for the Mako gas field, Empyrean Energy PLC and Coro Energy PLC said.Indonesia’s Ministry of Energy and Mineral Resources (MEMR) has approved the plan of development (POD) for the Mako gas field at the Duyung production sharing contract (PSC)…
Magnesium Producers Nedmag of the Netherlands and TIMAB Magnesium of France have announced a strategic partnership to development and commercialise Magnesium Hydroxide in marine gas scrubber systems.Since January 2015, regulations over Sulphur…
UK-based Offshore Wind Consultants (OWC) and Tata Consulting Engineers Limited (TCE) have signed an agreement to partner up for upcoming projects in the Indian offshore wind sector.Under the agreement, OWC and TCE will combine its powers to…
The United States is set to drive the global oil supply growth over the next 5 years, thanks to the strength of its shale industry, triggering a rapid transformation of world oil markets, according to the International Energy Agency (IEA).IEA…
Virginia officials have established a well-planned, extensive strategy to build out an offshore wind industry, including wind towers for electricity generation and the supply chain to support that extensive infrastructure and operations. The State’s big picture is ambitious: developing 2…
Venezuela's state-run oil firm PDVSA has been unable to resume crude exports from its primary port since last week's massive power outage, essentially crippling the OPEC nation's principal industry, people familiar with the matter said on Monday…
Specialist breakbulk and project heavy lift carrier AAL has successfully shipped 22 petrochemical plant modules from the Wilson Heavy Industry Company in Nantong, to the Ethylene Glycol II Expansion Project in Point Comfort, Texas on behalf of the Pacific Ocean Group Limited…
Colombia's government on Monday said it signed two exploration and production contracts with Shell in offshore areas of the Caribbean Sea that will require the company to make initial investments of $100 million.Colombia recently modified contractual…
Oil major BP has awarded subsea umbilicals, risers and flowlines (SURF) and subsea production system (SPS) equipment contracts to services providers McDermott International and Baker Hughes, a GE company (BHGE), for the Greater Tortue Ahmeyim natural gas project…
Brazil's state-controlled oil company Petróleo Brasileiro SA, or Petrobras, announced plans to cut $8.1 billion from its operational costs in the period from 2019 through 2023, according to a securities filing released on Friday.Petrobras said…
Alaska Gasline Development Corp (AGDC) said it signed an agreement with BP PLC and Exxon Mobil Corp to help advance the state-owned company's proposed $43.4 billion Alaska liquefied natural gas (LNG) project.'Our respective organizations share…
British oil and gas production rose 4 percent to 1.7 million barrels of oil equivalent per day in 2018 compared with the previous year, according to the Oil and Gas Authority, an industry regulator.'The Oil and Gas Authority (OGA) now projects…
The European Commission has opened an in-depth investigation into German utility E.on's takeover of certain assets from domestic Innogy, saying the transaction may lead to higher prices for consumers.The deal, which is worth a reported €43 billion ($48 billion at today's conversion rate)…
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