The global search for lower carbon forms of energy and demand for cost-effective ways to serve power demand in emerging markets and remote locations is driving interest in floating storage and regasification units (FSRU).FSRUs are a faster and more flexible way to import natural gas to power-constrained places, so demand for the units is increasing and the business case for owning them is growing stronger…
Oil freight rates in the Middle East and Asia have increased by almost 20 percent today following new US sanctions on units of Chinese company COSCO for its alleged involvement in ferrying crude oil out of Iran.In what the U.S. State Department…
Oil lost some of its big price rises today as the US announced the possible release of crude reserves but the possibility of military action in response to the drone attacks on Saudi oil facilities still means prices are high and that stocks are under pressure…
Independent subsea contractor, Film-Ocean, has ordered its 10th Saab Seaeye Falcon.Film-Ocean have developed and patented a chain measuring system for FPSO and Offshore Wind Farm mooring systems which is easily deployed with the Falcon providing results in real time and is accurate to 0…
According to DNV GL’s latest energy report ‘Energy Transition Outlook: Power Supply and Use’, eight times more wind and solar power is needed by 2030 to help meet the Paris Agreement on climate change’s target. This transition will require more…
The head of Russia's Rosnedra subsoil agency said on Tuesday that the development of the Pobeda (Victory) offshore Arctic oilfield in the Kara Sea is feasible only at oil prices of $130 to $140 per barrel, Interfax news agency reported.Rosneft…
Drilling wells more than three miles deep in the late 1960s was something that GHK Company and partner Lone Star Producing Company believed would product massive amounts of natural gas. The two companies that began this project discovered in…
German railway company Deutsche Bahn AG (DB) will be purchasing about 8% of the total production of the 295-MW Nordsee Ost offshore wind farm from 2024.Deutsche Bahn will continue to steadily increase its purchase of electricity from renewable energy sources in the coming years…
If we are going to store large volumes of carbon dioxide (CO2) in depleted oil and gas reservoirs beneath the seabed we need to be sure that, in the unlikely event of a leak, we can detect it. A research expedition, carrying a world-first experiment…
Malaysia-based Velesto Drilling, indirect wholly- owned unit of Velesto Energy Bhd’s (VEB), has received a letter of award from Petronas Carigali Sdn Bhd (PCSB) for the provision of jack-up drilling rig Naga 7.In a filing with Bursa Malaysia…
U.S. energy firms this week reduced the number of oil rigs operating for a third week in a row after drilling slowed for nine straight months as independent producers cut spending by about 10% this year.Drillers cut four oil rigs in the week to Sept…
Shared monitoring systems that provide comprehensive insight into CTV capabilities and limitations will support safety, planning & cost reduction for offshore wind owners. Offshore wind project owners are missing out on significant cost savings…
Commitment to accelerating the energy transition is gathering pace, as operators and technology developers at SPE Offshore Europe 2019 said they will invest to secure a more sustainable energy mix.In another encouraging sign that the energy…
DNV GL proposes the “Probabilistic Digital Twin” (PDT) to close the gap between digital twins – used increasingly by operators to manage the performance of their assets – and risk analysis still largely conducted manually before assets enter service…
Norwegian company TMC Compressors of the Seas (TMC) has is to supply a compressed air system for a Golar LNG floating liquefied natural gas (FLNG) vessel.TMC will manufacture and deliver seven large Smart Air compressors to be installed on the…
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