Exxon Mobil on Friday posted a better-than-expected $36 billion profit for 2023, lifted by fuels trading and higher oil and gas production.Oil majors are expected to report 2023 profits down by about a third from record levels in 2022, as oil and gas prices retreated from the peaks that followed Russia's invasion of Ukraine.Exxon results included a $2.5 billion impairment charge for California properties that it has been trying to sell for more than a year…
U.S. Customs and Border Protection has issued a ruling to New Fortress Energy, confirming that the transportation of LNG produced at the its FLNG facility located offshore Altamira in Mexico by non-U.S. qualified vessels would not violate the Jones Act…
BP is exploring the sale of a 49% stake in its U.S. oil and gas pipeline network in the Gulf of Mexico, hoping to raise as much as $1 billion, according to people familiar with the matter.The potential divestment would help BP meet its targets to reduce debt and maintain its dividend…
The value of Danish energy company Orsted, the world's largest offshore wind farm developer and a big player in the U.S., has plunged about 31% since it declared $2.3 billion in U.S. impairments in late August due to supply delays, high interest rates and a lack of new tax credits…
Washington has weighed into a dispute between Cyprus and international companies led by Chevron over how to develop a giant offshore gas field, backing the U.S. company's plan to link it to neighboring Egypt, two industry sources and a U.S. source said on Friday…
Global oil benchmark Brent hovered above $80 on Wednesday, buoyed by China's pledge to reinvigorate economic growth and expectations that the U.S. Federal Reserve will stop raising interest rates soon.Brent futures rose 38 cents at $80.01 a barrel by 0956 GMT…
Trinidad and Tobago is requesting the U.S. government amend the terms of a license authorizing the joint development of a promising offshore gas field with Venezuela, the Caribbean nation's energy minister said on Thursday.The United States…
Houston-based Bleutec Industries announced it has received approval in principle (AIP) from the American Bureau of Shipping (ABS) for the designs of its Jones Act compliant offshore wind farm construction solution.Envisioned as an alternative to wind turbine installation vessels (WTIV)…
The U.S. Administration’s strategy to fast-track offshore wind development is exciting for overseas shipbuilders and service providers in the field. Joint ventures meeting Jones Act requirements will support accelerating development. Some question…
Marine engineering consultancy, BAR Technologies (BAR), said Wednesday that its low-emission crew transfer vessel (CTV) design, the BARTech 30, will be available for the first U.S. offshore wind projects in 2024, following quotes at several U…
The U.S. Department of Energy is seeking input on research needs related to floating offshore wind energy mooring and anchoring systems. For this, DOE's Wind Energy Technologies Office (WETO) has issued a Request for Information (RFI).Apart from input on research priorities…
Sweden-based Skanska, one of the country's largest construction firms, has signed a contract with the Virginia Port Authority to rebuild 72 acres of the Portsmouth Marine Terminal in Portsmouth, Virginia, USA. The project will redevelop approximately…
When U.S. President Joe Biden promised European leaders in March that he would help secure new supplies of liquefied natural gas to offset shortages from Russia’s invasion of Ukraine, his pledge was greeted with skepticism.After all, the U.S…
ConocoPhillips' chief executive on Tuesday warned of looming crude oil shortages and price volatility, citing limited spare capacity among the Organization of the Petroleum Exporting Countries and slow U.S. output gains ahead.Ryan Lance, head of the largest U…
U.S. natural gas futures edged up about 2% on Tuesday on record power demand in Texas, forecasts for more gas demand over the next two weeks than previously expected, a reduction in gas output, low wind power and much higher global gas prices…
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