Exxon withdraws from talks with Guyana about shallow water oil blocks, says the government
Exxon Mobil, a U.S. oil company and its partners pulled out of negotiations on Thursday with Guyana’s government over terms for exploring and developing an oil block in shallow water. Exxon, Hess…
Norway's oil and gas sector invests record amounts due to inflation
A survey by the Norwegian National Statistics Office (SSB) showed that investment in oil and gas projects in Norway will reach a new record in 2018. It may even increase in 2025, as inflation increases costs for development.
Shell and Equinor face off against UK North Sea oil, gas projects
Shell and Equinor urged on Tuesday an Scottish court to support Britain's approval of the development two vast North Sea gas and oil fields as environmental activists attempted to block these projects.
Fugro is confident that it will achieve its revenue growth target of 2024 as the wind and LNG markets stabilize.
The CEO of Dutch geological data specialist Fugro said that the company is confident in meeting its target of mid-single-digit revenue growth for full-year, as it anticipates the wind energy and…
US Steelworkers Union looks at clean energy to replace lost jobs at oil refineries
A union official stated that the United Steelworkers union will rely on clean energy projects in order to boost membership growth and offset losses at oil refineries and petrochemical facilities…
Baker Hughes exceeds profit forecasts on international drilling demand
Baker Hughes, a drilling equipment and oilfield technologies company, beat Wall Street's third-quarter profit estimates on Tuesday. Oilfield Services Companies have been able to offset some of…
Italy's largest insurance company expands its oil and gas exclusion list
Generali, an Italian insurer, will not provide new insurance to companies that are involved in the transportation, processing, and distribution of oil and gas if their energy transition plans are inadequate…
Malaysian PM: Petronas exploration in South China Sea to continue
Anwar Ibrahim, Malaysia's prime minister, reiterated on Tuesday that the state-owned energy company Petronas would continue to conduct oil exploration in Malaysia's Exclusive Economic Zone (EEZ)…
Mozambique's election winner faces financial strain
The economy of Mozambique will be impacted by the worsening cyclones and insecurity as well as delays to gas projects, high debt levels, and delayed gas projects. Daniel Chapo, the candidate of the ruling party…
What are the main issues in Mozambique's elections?
Next week, Mozambicans are voting in legislative and presidential elections. It is almost certain that the Frelimo Party will extend its half-century in power. The party has been fighting a longstanding…
Min says that seismic work will begin on gas fields shared between Trinidad and Venezuela.
Stuart Young, Trinidad and Tobago's energy minister, said on Facebook on Friday that seismic work is expected to begin in the next few days at the offshore gas fields shared between Venezuela and Trinidad and Tobago.
Indonesia approves Eni's Geng Nord gas project development plan
SKK Migas, Indonesia's upstream oil-and-gas regulator, said Friday that Indonesia had approved the plan of developments (POD) of the first phase for Geng North, an Italian Eni gas field in the Makassar Strait.
Floating Production – A Growing Segment in Transition
The specialized deepwater oil & gas and floating offshore wind segments will share many of the same stakeholders and supply chains, competing for increasingly scarce resources.To receive a full version of Inteletus analysis…
Markets: The Challenges of Developing Floating Wind at Scale
Tens of gigawatts of floating wind projects are slated for development in this and the next decade, but many obstacles remain.There has been much focus on the emerging floating wind market of late.The U.K.
Exxon Banks Record $56B Profit in '22
Exxon Mobil Corp posted a $56 billion net profit for 2022, the company said on Tuesday, taking home about $6.3 million per hour last year, and setting not only a company record but a historic high for the Western oil industry.
EU Unveils $220B Escape Route from Russian Fossil Fuels by 2027
The European Commission on Wednesday unveiled a 210 billion euro [about $220 billion] plan for Europe to end its reliance on Russian fossil fuels by 2027, and to use the pivot away from Moscow…
Video: The Floating Production Market Faces Headwinds, But Opportunities Exist
There are around 200 offshore oil and gas projects currently being planned for development using a floating production system, however, at around $2B apiece – some up to $5B – final investment…
Total Books $8 Bln Asset Impairments
French energy group Total will book an exceptional impairment charge of $8 billion mainly on its Canadian oil sands and liquefied natural gas projects, it said on Wednesday."Overall, the exceptional asset impairments that will therefore be
Woodside's Revenue Slumps More than Expected
Australia's Woodside Petroleum Ltd reported a worse-than-feared 29% drop in quarterly revenue, hit by weak spot liquefied natural gas (LNG) prices, but said it still expected to book a net profit…
Mozambique Army, Islamist Insurgents Battle Near Gas projects
Mozambican troops battled Islamist insurgents in a town in a northern town on Monday close to billion-dollar gas projects being developed by ExxonMobil and Total, police said.The General Commander of Mozambique's police…
