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Business & Finance

Eni and Vår Energi paying $4.9 billion for Neptune’s entire oil & gas portfolio, bar German business

Eni and Vår Energi will acquire Neptune’s entire portfolio, aside from its business in Germany, for an aggregate enterprise value of $4.9 billion.

11 minutes read

Business & Finance

Oman sees signing of two new green hydrogen project agreements

Hydrom, a subsidiary of Energy Development Oman SAOC (EDO), has entered two new agreements awarding green hydrogen projects in Oman. The agreements were signed with the winning bidders of round 1 of the Oman green hydrogen auction process during an event organised by Hydrom. This auction process pro

about 3 years ago

Business & Finance

QatarEnergy and China bolster LNG ties with new deals

State-owned oil and gas giant QatarEnergy has signed definitive agreements with China National Petroleum Corporation (CNPC) for the long-term supply of LNG to China and partnership in the North Field East (NFE) LNG expansion project. The LNG sales and purchase agreement (SPA) between the two parties

about 3 years ago

Business & Finance

Headway made in Bonn but all hopes rest on COP28’s shoulders to tackle emission reduction challenges

The Bonn Climate Change Conference helped lay the groundwork for the political decisions required at COP28 in Dubai at the end of the year.

about 3 years ago

Vito platform in the U.S. Gulf of Mexico; Credit: Shell

Business & Finance

Oil & gas with LNG as centrepiece getting a $40 billion slice of Shell’s investment pie

Shell has unveiled plans to spend around $40 billion in its Integrated Gas and Upstream businesses, as it believes that oil and gas will remain important players on the energy stage.

about 3 years ago

Illustration; Source: International Energy Agency (IEA)

Business & Finance

With peak oil demand in sight, is the end of the black gold era really approaching?

The International Energy Agency (IEA) believes that growth in global oil demand is projected to slow down to a crawl by 2028.

about 3 years ago

Business & Finance

SEA-LNG: LNG has half the lifetime cost of methanol and ammonia

The lifetime fuel costs of meeting key European decarbonisation targets for shipping through the LNG pathway are expected to be roughly half that of the methanol or ammonia pathways, according to the findings of a new analysis from the SEA-LNG coalition. The multi-sector coalition promotes the comme

about 3 years ago

Business & Finance

Saudi oil & gas giant taps Weatherford for drilling services

Weatherford International has secured a long-term contract with Saudi Arabia’s Aramco for the provision of drilling services.

about 3 years ago

GMS Shamal (for illustration purposes); Source: Gulf Marine Services (GMS)

Business & Finance

GMS racks up two extension deals, as offshore vessel market goes from strength to strength

Gulf Marine Services (GMS) has secured two contract extensions for one of its small-size class vessels and one of its large-class vessels.

about 3 years ago

Business & Finance

What impact will OPEC+ cuts have on global and US oil & gas production?

The EIA expects global oil production to be lower than anticipated after OPEC+ announced extension of its crude oil production cuts.

about 3 years ago

Business & Finance

ADNOC doles out $975 million to unlock more hydrocarbons at Lower Zakum

ADNOC Offshore has awarded a $975 million artificial island construction contract to ADNOC L&S for the Lower Zakum field offshore Abu Dhabi.

about 3 years ago

Business & Finance

ADNOC Drilling expands its offshore rig fleet with two more jack-ups

ADNOC Drilling is acquiring two new premium offshore jack-up drilling rigs, as part of its fast-tracked fleet expansion programme.

about 3 years ago

Illustration; Source: American Petroleum Institute (API)

Business & Finance

Natural gas hailed as backbone of energy mix with security of supply and decarbonisation vying for attention

Natural gas is still forecasted to play a crucial role and act as a trump card while the world embraces the race to net-zero.

about 3 years ago

Noble Highlander jack-up rig (for illustration purposes); Source: Noble Corporation

Business & Finance

May brings upsurge in international offshore rig count activity

Baker Hughes’ international rig count report indicates that the number of offshore rigs was on an upward trajectory in May 2023.

about 3 years ago