Industry News

UK Energy Price Cap Set to Drop 12 Percent from April

24 February 2024, 11:00am
UK energy bills are set to fall to the lowest level in two years as wholesale prices continue to decline rapidly.
Read more... (source: www.rigzone.com)


Oil Falls on Bearish Technical Signals

23 February 2024, 8:07pm
Oil fell as the lack of fresh drivers prompted some investors to exit positions ahead of the weekend and the dip below a key technical indicator accelerated selling.
Read more... (source: www.rigzone.com)


TGS Teams Up with Enertel for Integrated Solutions

23 February 2024, 6:00pm
The collaboration 'will deliver an integrated solution to empower operators with seamless access to TGS licensed well data through Enertel's QuantumCast software platform'.
Read more... (source: www.rigzone.com)


US EPA Grants Fuel Policy Change Promoting Blend with Higher Ethanol

23 February 2024, 3:00pm
The EPA's final rule, demanded by eight Midwestern governors, is meant to encourage more filling stations in the region to sell E15 gasoline that contains 15 percent ethanol.
Read more... (source: www.rigzone.com)


Equinor Gets Planning OK for UK Hydrogen, Carbon Capture Project

23 February 2024, 2:00pm
H2H Saltend is a 600-megawatt low carbon hydrogen production plant with carbon capture.
Read more... (source: www.rigzone.com)


EnergyPathways to Tap MCS, Mermaid for Marram Field Project

23 February 2024, 12:00pm
EnergyPathways has signed a memorandum of understanding with the two companies for subsea front end engineering design (FEED), project support, procurement and offshore construction services.
Read more... (source: www.rigzone.com)


Glomar claims 28% emissions reduction using GoodFuels’ biofuel

23 February 2024, 11:58am
Dutch offshore drilling services provider Glomar Offshore has revealed that it has achieved CO2 emissions reduction by 28% by transitioning from traditional fuels to GoodFuels' HVO30, a sustainable marine biofuel blend. The post Glomar claims 28% emissions reduction using GoodFuels’ biofuel appeared first on Offshore Energy.
Read more... (source: www.offshore-energy.biz)


New JV sets up engineering and asset integrity management firm in Guyana

23 February 2024, 10:58am
Norway’s asset integrity management company Axess Group and Guyana Logistics and Support Services (GLASS) […] The post New JV sets up engineering and asset integrity management firm in Guyana appeared first on Offshore Energy.
Read more... (source: www.offshore-energy.biz)


Noble’s CEO sees ‘highly encouraging’ signs ahead for its fleet thanks to surge in rig demand

23 February 2024, 10:25am
Noble Corporation is anticipating a further boost to its contract backlog over the next two years. The post Noble’s CEO sees ‘highly encouraging’ signs ahead for its fleet thanks to surge in rig demand appeared first on Offshore Energy.
Read more... (source: www.offshore-energy.biz)


‘Strong demand’ for MMA’s vessels and subsea services from both oil & gas and offshore wind

23 February 2024, 10:20am
MMA Offshore reported strong demand for its vessels and services in the first FY2024 […] The post ‘Strong demand’ for MMA’s vessels and subsea services from both oil & gas and offshore wind appeared first on Offshore Energy.
Read more... (source: www.offshore-energy.biz)


Marathon Oil Sees Annual Profit Halved

23 February 2024, 10:00am
Marathon Oil posted $1.5 billion in net profit for 2023.
Read more... (source: www.rigzone.com)


Baker Hughes Inks Contract with Petrobras to Service Buzios

23 February 2024, 9:00am
The integrated services project is set to start in the first half of 2025.
Read more... (source: www.rigzone.com)


Woodside strengthens ties with JERA through sale of partial stake in gas field, LNG offtake, and pursuit of new energies

23 February 2024, 8:51am
Australian energy giant Woodside has put the wheels in motion to widen the scope of its relationship with JERA. The post Woodside strengthens ties with JERA through sale of partial stake in gas field, LNG offtake, and pursuit of new energies appeared first on Offshore Energy.
Read more... (source: www.offshore-energy.biz)


Equinor Bags 15-Year LNG Order from Indian Fertilizer Producer

23 February 2024, 8:31am
Equinor signed a deal to supply about 650,000 MMtpa of LNG to Deepak for 15 years starting 2026.
Read more... (source: www.rigzone.com)


Woodside picks subsea wellhead systems supplier for Gulf of Mexico oil project

23 February 2024, 8:29am
Woodside has selected the U.S. provider of offshore drilling solutions Dril-Quip for the delivery of […] The post Woodside picks subsea wellhead systems supplier for Gulf of Mexico oil project appeared first on Offshore Energy.
Read more... (source: www.offshore-energy.biz)


Norway to Hold Auction for Offshore Wind Project in March

23 February 2024, 8:17am
BP, Shell and Equinor are among companies approved to bid in the auction for the Sorlige Nordsjo 2 offshore wind project.
Read more... (source: www.rigzone.com)


NNPC Risks Legal Action over Allegedly Missing Funds

23 February 2024, 8:09am
SERAP asked NNPC to remit to the state billions in missing oil revenues.
Read more... (source: www.rigzone.com)


Adnoc Inches toward Improved Bid for Covestro: Sources

23 February 2024, 7:52am
Adnoc is inching toward an improved bid after finding a potential way to resolve the impasse over its $12.1 billion pursuit of Covestro.
Read more... (source: www.rigzone.com)


Shell brings online deepwater oil project in Gulf of Mexico

23 February 2024, 7:25am
Shell has started production from a deepwater project in the U.S. Gulf of Mexico, which is a subsea tie-back to the Appomattox production hub. The post Shell brings online deepwater oil project in Gulf of Mexico appeared first on Offshore Energy.
Read more... (source: www.offshore-energy.biz)


French Bid to Mine for Uranium in Mongolia Faces Delays

23 February 2024, 7:22am
A $1.6 billion uranium mining deal between France and Mongolia that is part of French efforts to diversify supplies to power its fleet of nuclear reactors is running into political hurdles.
Read more... (source: www.rigzone.com)


Equinor renews deal for well control services with Norwegian firm

23 February 2024, 6:27am
AGR has secured a contract extension with Equinor for the provision of blowout and well control studies on the NCS. The post Equinor renews deal for well control services with Norwegian firm appeared first on Offshore Energy.
Read more... (source: www.offshore-energy.biz)


Damaged Pipeline Threatens to Stall Colombia Plan to Import Gas

22 February 2024, 9:00pm
Colombian state oil producer Ecopetrol SA announced in November it was looking into importing gas from Venezuela at the end of this year.
Read more... (source: www.rigzone.com)


Oil Rises Amid Signs of Tighter Market

22 February 2024, 8:23pm
Oil rose to near the top of its recent trading range after a smaller-than-expected increase in US crude stockpiles added to signs of a tightening physical market.
Read more... (source: www.rigzone.com)


Sage Geosystems Raises $17MM in Funding for Geothermal Facility

22 February 2024, 7:00pm
Houston-based Sage Geosystems has raised $17 million in Series A funding, which will finance the company's three-megawatt commercial geopressured geothermal facility facility to be constructed in Texas.
Read more... (source: www.rigzone.com)


US DOE Earmarks $17MM for Research into Deriving Minerals from Coal

22 February 2024, 5:30pm
The DOE allotted over $17 million for three study projects advancing know-how in deriving critical minerals from coal.
Read more... (source: www.rigzone.com)


USA Diesel Price Down Year on Year

22 February 2024, 3:10pm
The average diesel price in the U.S. was $4.095 per gallon on February 22, according to AAA gas prices.
Read more... (source: www.rigzone.com)


As contract backlog tops $3.9 billion, Valaris upbeat about future rig opportunities

22 February 2024, 2:54pm
Valaris has managed to boost its contract backlog by almost 60% compared to the sum from twelve months ago, thanks to the higher day rates and fleet utilization. The post As contract backlog tops $3.9 billion, Valaris upbeat about future rig opportunities appeared first on Offshore Energy.
Read more... (source: www.offshore-energy.biz)


Enhanced Drilling secures five-year contract with Equinor

22 February 2024, 2:00pm
Norway’s Enhanced Drilling has announced a new five-year contract with Equinor, including the use […] The post Enhanced Drilling secures five-year contract with Equinor appeared first on Offshore Energy.
Read more... (source: www.offshore-energy.biz)


Repsol Pledges EUR 10 Billion in Attempt Win Over Investors

22 February 2024, 2:00pm
Repsol SA will increase its dividend by 29 percent and buy back more shares.
Read more... (source: www.rigzone.com)


Use of natural gas-fired generation differs in the United States by technology and region

22 February 2024, 1:00pm
Natural gas is the single-largest source of energy used to generate electricity in the United States, making up 43% of electricity generation in 2023. Natural gas-fired power plants accounted for the second-most U.S. generating capacity additions in 2023, trailing only solar. Combined with increasing domestic supply and relatively low natural gas prices, the versatility of natural gas-fired power plants to meet a wide range of requirements across many U.S. markets is one of the main reasons for their growth. However, the dispatchability, efficiency, and broad regional coverage of natural gas-fired power plants vary significantly. In addition, decades of advancements in natural gas turbine efficiency mean that the age of natural gas-fired plants affects how those plants are used.
Read more... (source: www.eia.gov)


Distinct Factors Drive High Gasoline Prices in California: OPIS

22 February 2024, 12:48pm
A surge in retail gasoline prices in California in 2022 and 2023 does not mean volatility at the pump level has heightened in recent years but instead reflects longstanding factors that are 'unique' in the state.
Read more... (source: www.rigzone.com)


U.S. energy flows through Panama Canal rose slightly in January

21 February 2024, 1:00pm
U.S. liquefied petroleum gas (LPG) and ethane exports through the Panama Canal rose in January 2024 with a return to vessel traffic through the shipping channel as drought conditions eased. Transit volumes of LPG and ethane had fallen in late 2023 amid a historic drought at the Panama Canal.
Read more... (source: www.eia.gov)


Retirements of U.S. electric generating capacity to slow in 2024

20 February 2024, 1:00pm
Operators plan to retire 5.2 gigawatts (GW) of U.S. electric generating capacity in 2024, a 62% decrease from last year when 13.5 GW was retired and the least in any year since 2008, according to our latest Preliminary Monthly Electric Generator Inventory. Coal and natural gas jointly account for 91% of the planned capacity retirements in the United States this year.
Read more... (source: www.eia.gov)


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