Industry News

Oil Struggles as Growth Stocks Excel

2 February 2023, 9:16pm
Oil struggled to find a bid after the Federal Reserve's recent comments spurred traders to shun energy and pour money into interest-rate sensitive stocks.
Read more... (source: www.rigzone.com)


GES And GPS Merge Into Global Energy Storage Group

2 February 2023, 9:00pm
GES has combined its business with GPS, creating a major player in the energy storage sector named Global Energy Storage Groups.
Read more... (source: www.rigzone.com)


Decom Engineering Starts Year 2023 With New Projects

2 February 2023, 8:00pm
Decom Engineering has secured a number of contracts at the start of 2023.
Read more... (source: www.rigzone.com)


NNPC Signs $741MM Refinery Deal with Daewoo

2 February 2023, 7:00pm
Nigeria's state energy company struck a $741 million deal with Daewoo Engineering & Construction Co. Ltd.
Read more... (source: www.rigzone.com)


Winter Storm Mara Update

2 February 2023, 6:00pm
'Natural gas supply is holding strong'.
Read more... (source: www.rigzone.com)


NSTA Creates Oversee Team For Carbon Storage Developments

2 February 2023, 5:00pm
The NSTA has responded to the rapid growth of the UK's CCS industry by setting up a dedicated carbon transportation and storage team.
Read more... (source: www.rigzone.com)


Keppel O&M To Deliver Guyana's Third FPSO To SBM Offshore

2 February 2023, 4:00pm
Keppel Offshore & Marine is on track to deliver the third Guyana FPSO to SBM Offshore in the first quarter of 2023.
Read more... (source: www.rigzone.com)


Shell doubles profit in 2022 to record-breaking $40 billion

2 February 2023, 3:30pm
Shell recorded the highest-ever profit of nearly $40 billion in 2022, which has come under fire from NGOs and environmentalists. The post Shell doubles profit in 2022 to record-breaking $40 billion appeared first on Offshore Energy.
Read more... (source: www.offshore-energy.biz)


ADNOC Signs Deals With 23 Firms Worth $4.6 Billion

2 February 2023, 3:25pm
ADNOC has signed agreements with 23 companies for local manufacturing opportunities across a wide range of critical industrial products worth $4.63Bn.
Read more... (source: www.rigzone.com)


‘Abundance’ of gas pay at Black Sea well exceeds expectations

2 February 2023, 3:22pm
Trillion Energy has drilled another well in its 2022 – 2023 drilling campaign on a natural gas field in the Black Sea off Türkiye. The post ‘Abundance’ of gas pay at Black Sea well exceeds expectations appeared first on Offshore Energy.
Read more... (source: www.offshore-energy.biz)


TC Energy Pipe to LNG Site Sees Costs Soar to $10.9B

2 February 2023, 3:00pm
The price tag for TC Energy Corp.'s Coastal GasLink project has jumped.
Read more... (source: www.rigzone.com)


On emission reduction quest, Odfjell Drilling furnishes rig with new upgrade

2 February 2023, 2:10pm
Offshore drilling contractor Odfjell Drilling has upgraded one of its semi-submersible drilling rigs with a hybrid system to curb emissions. The post On emission reduction quest, Odfjell Drilling furnishes rig with new upgrade appeared first on Offshore Energy.
Read more... (source: www.offshore-energy.biz)


New SPR Bill Passes House

2 February 2023, 2:00pm
The H.R.21 bill still needs to pass the Senate and go to the President to become law.
Read more... (source: www.rigzone.com)


Westwood: Several Macroeconomic Factors Make 2023 Unpredictable

2 February 2023, 1:30pm
Economic recession, the weather, the war in Ukraine, and the Covid pandemic in China are the key macroeconomic factors weighing on oil and gas markets in 2023.
Read more... (source: www.rigzone.com)


Will A New Iran Nuclear Deal Be Agreed to in 2023?

2 February 2023, 1:18pm
PVM Oil Associates and Fitch Solutions Country Risk & Industry Research focus on the Iran nuclear deal.
Read more... (source: www.rigzone.com)


Domestic renewable diesel capacity could more than double through 2025

2 February 2023, 1:00pm
U.S. production capacity for renewable diesel could more than double from current levels by the end of 2025, based on several announcements for projects that are either under construction or could start development soon.
Read more... (source: www.eia.gov)


Canadian player takes steps to gain more insight into Black Sea project’s gas potential

2 February 2023, 12:39pm
Canada’s oil and gas player Trillion Energy has kicked off its 3D seismic reprocessing project for a natural gas field in the Black Sea offshore Türkiye The post Canadian player takes steps to gain more insight into Black Sea project’s gas potential appeared first on Offshore Energy.
Read more... (source: www.offshore-energy.biz)


Keppel O&M on track to deliver FPSO for ExxonMobil’s third project off Guyana

2 February 2023, 11:52am
With the naming ceremony out of the way, Keppel Offshore & Marine is on track to deliver a new FPSO vessel to SBM Offshore in 1Q 2023. The post Keppel O&M on track to deliver FPSO for ExxonMobil’s third project off Guyana appeared first on Offshore Energy.
Read more... (source: www.offshore-energy.biz)


Big Oil Shareholders Biggest 2022 Winners With Massive Payouts

2 February 2023, 11:30am
For every $1 extra operating cash flow in the first nine months of 2022, $0.44 went on dividends and share buy-backs.
Read more... (source: www.rigzone.com)


Energy Services Sector Will Grow To $1 trillion In 2025

2 February 2023, 10:39am
The global market for oil and gas contractors to rise to a peak of $1 trillion in 2025 and remain at high levels for several years thereafter.
Read more... (source: www.rigzone.com)


Maritime Security Report Shows Incident Trends Down YoY

2 February 2023, 9:50am
'West Africa continues to represent the most significant and persistent decline in incidents'.
Read more... (source: www.rigzone.com)


Lukoil hits production milestone in Caspian Sea

2 February 2023, 9:20am
Russian oil and gas giant Lukoil has produced 50 million tonnes of liquid hydrocarbons at […] The post Lukoil hits production milestone in Caspian Sea appeared first on Offshore Energy.
Read more... (source: www.offshore-energy.biz)


Shell Posts Record 2022 Profit

2 February 2023, 9:17am
Shell's integrated gas unit was firing on all cylinders in the final quarter.
Read more... (source: www.rigzone.com)


Diamond Offshore-managed drillship kicks off its new gig in Gulf of Mexico

2 February 2023, 8:36am
Diamond Offshore has revealed that a drillship - managed on behalf of Aquadrill – has started its new assignment in the U.S. Gulf of Mexico. The post Diamond Offshore-managed drillship kicks off its new gig in Gulf of Mexico appeared first on Offshore Energy.
Read more... (source: www.offshore-energy.biz)


OEUK calls for more action to help accelerate shift to low carbon energy

2 February 2023, 8:07am
Urgent action is needed from both government and industry to support supply chain companies […] The post OEUK calls for more action to help accelerate shift to low carbon energy appeared first on Offshore Energy.
Read more... (source: www.offshore-energy.biz)


UK NSTA creates carbon transportation and storage team

2 February 2023, 7:53am
In response to the rapid growth of the carbon capture and storage industry, UK’s […] The post UK NSTA creates carbon transportation and storage team appeared first on Offshore Energy.
Read more... (source: www.offshore-energy.biz)


Oil Plunges as US Stockpiles Grow

1 February 2023, 8:46pm
Oil prices fell the most in about a month as government data showed US crude inventories swelled to the highest levels since June 2021.
Read more... (source: www.rigzone.com)


Samsung Engineering Posts Highest Financial Figures Since 2012

1 February 2023, 7:00pm
Samsung Engineering has ended the year 2022 on a high, posting the highest figures since 2012.
Read more... (source: www.rigzone.com)


Technip Energies Scores FEED Work On Exxon's Hydrogen Project

1 February 2023, 6:00pm
Technip Energies have been hired to complete the FEED for ExxonMobil,s hydrogen project in Baytown, Texas, in the United States.
Read more... (source: www.rigzone.com)


US DOE Provides Funds For Affordable Clean Hydrogen Technologies

1 February 2023, 5:00pm
The U.S. Department of Energy has announced up to $47M in funding to accelerate RD&D of affordable clean hydrogen technologies.
Read more... (source: www.rigzone.com)


Controversial Bay du Nord oil project saga continues with court challenge

1 February 2023, 3:23pm
Equinor has a court fight on its hands this week regarding the development of its controversial Bay du Nord offshore oil project located in Canada. The post Controversial Bay du Nord oil project saga continues with court challenge appeared first on Offshore Energy.
Read more... (source: www.offshore-energy.biz)


U.S. proved reserves of crude oil increased significantly in 2021

1 February 2023, 1:00pm
In 2021, U.S. proved reserves of crude oil and lease condensate increased 16% from 2020, totaling 44.4 billion barrels, according to our recently released Proved Reserves of Crude Oil and Natural Gas in the United States, Year-End 2021 report. Proved reserves decreased 19% in 2020 because of pandemic-related constraints on crude oil demand and production. In 2021, however, demand for petroleum and natural gas returned, prices rose, and proved reserves increased.
Read more... (source: www.eia.gov)


U.S. natural gas consumption reached record daily high in late December 2022

31 January 2023, 1:00pm
On December 23, 2022, natural gas consumption in the U.S. Lower 48 states reached a daily record high of 141.0 billion cubic feet (Bcf), according to estimates from S&P Global Commodity Insights. The previous record was 137.4 Bcf, set on January 1, 2018. Below-normal temperatures in mid- to late December increased demand for natural gas used for residential and commercial space heating and electric power generation. At the same time, natural gas production quickly fell because of mechanical issues caused by the cold temperatures.
Read more... (source: www.eia.gov)


Proved reserves of natural gas increased 32% in the United States during 2021

30 January 2023, 1:00pm
Proved reserves of natural gas in the United States grew to a new record of 625.4 trillion cubic feet (Tcf) in 2021, a 32% increase from 2020, according to our recently released Proved Reserves of Crude Oil and Natural Gas in the United States, Year-End 2021 report. U.S. proved reserves had previously decreased 4% in 2020 as a response to prices that fell with decreased consumption during the first year of the COVID-19 pandemic. At year-end 2021, however, five of the eight states with the most proved reserves of natural gas each reported new record volumes, driving the growth nationally.
Read more... (source: www.eia.gov)


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