Foreign shareholders suspended participation in the Arctic LNG 2 project due to sanctions, renouncing their responsibilities for financing and for offtake contracts for the new Russian liquefied natural gas (LNG) plant, the daily Kommersant reported on Monday…
Equinor and SOCAR (State Oil Company of Azerbaijan Republic) have signed an agreement by which the Norwegian energy industry giant will divest all its remaining assets in Azerbaijan to SOCAR.The assets comprise a 7.27% non-operated interest…
Norwegian offshore vessel operator DOF Group has secured two new projects – one in the North Sea and the other in Asia Pacific region – whose combined revenue is expected to bring in $30 million to the company. The first contract for DOF covers engineering…
Offshore drilling contractor Transocean on Tuesday announced its harsh environment semisubmersible drilling rig Transocean Barents has secured a contract from Romanian integrated oil company OMV Petrom in the Romanian Black Sea.Expected to commence in the first quarter of 2025…
Norwegian oil company Aker BP and construction firm Aibel on Thursday held the first steel cutting ceremony for the Munin platform in Thailand, being built for the Yggdrasil development offshore Norway.Thai monks blessed the steel in a formal ceremony…
China is willing to provide necessary information in accordance with international law regarding an investigation on damage to a Baltic Sea gas pipeline, the foreign ministry said on Wednesday at a regular press briefing.The damage earlier this…
Top oilfield services firm SLB on Friday said it is halting shipments of products and technology into Russia from all its operations over an expansion of Western sanctions.SLB, the world's largest oil service and equipment provider, was one…
The global floating solar market is expected to pass the six-gigawatt (GW) threshold by 2031, as PV developers struggle to meet growing solar demand and look to alternate development technologies, energy intelligence firm Wood Mackenzie said in a report Wednesday…
Kuwait's overseas oil and gas division has launched a sale process for its Norwegian assets as part of its focus on newer exploration and production hubs, industry sources said. Kuwait Foreign Petroleum Exploration Company (Kufpec) hired Scotiabank to run the sale…
Japan's top utility JERA has agreed to buy Belgium-based offshore wind energy producer Parkwind for 1.55 billion euros ($1.7 billion), as it expands in renewable power to meet decarbonization goals.JERA, a joint venture between Tokyo Electric…
Brent oil prices fell on Tuesday as fears that a global economic slowdown would reduce fuel demand prompted investors to take profits on the previous day's gains. Traders are awaiting the minutes of the latest Federal Reserve meeting, due on Wednesday…
Luxembourg court bailiffs issued fresh seizure orders for two units of Malaysian state oil firm Petronas this week, following a bid by descendants of a former sultanate to enforce a $15-billion award they had won against Malaysia, according to the heirs' lawyer and court documents seen by Reuters…
Big Oil more than doubled its profits in 2022 to $219 billion, smashing previous records in a year of volatile energy prices where Russia's invasion of Ukraine reshaped global energy markets and, in some cases, the industry's climate ambitions…
International Energy Agency (IEA) head Fatih Birol said on Thursday that energy markets could be tighter in 2023, adding he hoped prices would not rise further in order to ease the pressure on energy-importing developing countries.'I wouldn't be too relaxed about the markets…
French oil giant TotalEnergies, one of the last Western holdouts in Russia after the war in Ukraine, said it was withdrawing its two members from Novatek's board and would take a $3.7 billion hit to write off the value of its stake in the Russian group…
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