Kvaerner, a Norwegian builder of oil platforms, aims to increase its revenue by some 40 percent by 2022 by expanding abroad, the company said on Tuesday after reporting a sharp decline in third-quarter earnings that drove down its shares.Kvaerner's quarterly earnings before interest…
Technical challenges could slow growth shale oil production in the next 12 to 18 months, the chief executive of Schlumberger NV, the world’s largest oilfield services provider, said on Tuesday.Paal Kibsgaard, CEO, was speaking at an investment conference in Riyadh…
Headline rates for shipping liquefied natural gas (LNG) in Pacific and Atlantic basins stand at around $140,000 to $150,000 a day for a 160,000 cubic meter LNG tri-fuel diesel electric (TFDE) vessel, brokers say.That is a 6-year high and compares to Atlantic basin rates of $75…
Ingeteam, an independent global supplier of electrical conversion equipment, announced today that it received DNV GL’s “Shop Approval in Renewable Energy” certification for the wind converter manufacturing facility recently established by the company in the Tamil Nadu region…
Oil prices fell more than 2 percent on Tuesday after Saudi Arabia said it could supply more crude quickly if needed, reassuring investors ahead of U.S. sanctions on Iran's crude exports that start next month.Benchmark Brent crude oil dropped $2…
Russia's government has disclosed conditions of an out-of-court settlement signed in 2017 between Russia's finance ministry, the Russian subsidiary of U.S. oil major Exxonmobil and other members of Russia's Sakhalin-1 oil and gas project, Interfax news agency reported on Tuesday…
UK-based Tullow Oil aims to ramp up its oil production in Ghana to 180,000 barrels per day by the end of the year, following successful drilling of additional wells, its Ghana head Kweku Awotwi said on Tuesday.Tullow is confident of sustaining peak production from its two oilfields in Ghana…
Simec Atlantis Energy announced that it has appointed Mr. Andy Richardson into the role of Chief Operating Officer at Simec Atlantis Energy.A press release from the global developer, owner and operator of sustainable energy projects with a diversified portfolio of more than 1…
The providers of naval vessels, surface ships and submarines ThyssenKrupp Marine Systems of Germany has developed a new type of lithium-ion battery system for submarines together with Saft, a manufacturer of advanced battery systems for industry…
Australia’s Woodside Petroleum has signed a Cooperation Agreement with Chinese private sector gas distribution firm ENN Group under which the two companies will work together to explore a broad range of potential business opportunities.The Cooperation…
The German Federal Network Agency (BnetzA) has announced the outcome of the latest German onshore wind auction. It revealed that the country's last wind tender of the year was undersubscribed and saw average prices rise again.A press release noted that only 363 MW of capacity won a contract…
Danish wind power company Ørsted has selected Siemens Gamesa Renewable Energy (SGRE) as the preferred supplier for the first 900MW Greater Changhua offshore wind farms.The project is subject to certain conditions such as the signing of a power…
Offshore ultra-deepwater drilling company Pacific Drilling announced that its deepwater drillship the Pacific Bora has been awarded a contract by Nigerian Agip Exploration Limited (a subsidiary of Eni SpA) for drilling operations in Nigeria…
The owner and operator of sustainable energy projects Simec Atlantis Energy announced that it successfully completed offshore operations on MeyGen Phase 1A with two Andritz 1.5MW turbines returned to service and the Atlantis 1.5MW turbine successfully retrieved for ancillary systems maintenance…
The large-capacity Aframax tanker 'Gagarin Prospect', owned by Russia's SCF Group, successfully implementated construction and operation commencement using LNG as the primary fuel.Konstantin G. Palnikov, Director General of Russian Maritime Register of Shipping…
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