Fossil Energy
In focus: ‘Energy transition, step up your game’
There is a reason why we speak of energy transition instead of energy revolution. It is a process in which we gradually phase out fossil fuels
Russia completes first Nord Stream 2 line
Russia has finished laying the first line of the Nord Stream 2 gas pipeline to Germany, Reuters reported President Vladimir Putin as saying at an economic forum on Friday, 4 June. Nord Stream 2 comprises two parallel 48-inch lines, approximately 1,200 kilometers long, each starting southwest of St.
Hurricane may face wind-down if no agreement for Lancaster FPSO is reached
Hurricane Energy is looking to shorten the bareboat charter term for Bluewater’s FPSO Aoka Mizu due to significant financial obligations.
Novatek, Gazprom Neft form Arctic E&P joint venture
Russian energy firms Novatek and Gazprom Neft have formed an exploration and production joint venture which will focus on developing a license in the East Siberian Sea and the Chukchi Sea.
Prosafe strikes a deal with lenders over restructuring plan
Following an agreement with lenders, Prosafe expects to reduce its debt significantly and improve the balance sheet and financial flexibility.
Nord Stream 2 hits home stretch with 100 kilometres left to go
Five years after the start of construction, the Nord Stream 2 gas pipeline under the Baltic Sea is nearly complete with just 100 kilometres left to build.
Shearwater kicks off second phase of North Sea seismic survey
Shearwater GeoServices has begun the second, larger phase of the Mid North Sea High (MNSH) 3D seismic survey program in the UK for ION Geophysical.
CHC gets extension on Neptune’s UK assets
Offshore helicopter operator CHC has been awarded a contract extension by Neptune Energy for operations in the UK North Sea.
Archer wraps up DeepWell acquisition
Oilfield services provider Archer has closed the acquisition of Norwegian well intervention company DeepWell.
Danes repeal Baltic Pipe environmental permit
The Danish Environmental and Food Appeals Board has ruled to repeal the permit for the onshore part of the Baltic Pipe gas pipeline, which the Danish Environmental Protection Agency granted back in July 2019. According to the appeals board, the permit from the Environmental Protection Agency did not
Rystad: No more trillion-dollar oil & gas tax revenues as energy transition ramps up
Global petrostates can forget trillion-dollar from oil & gas tax revenues as the accelerating energy transition bites, Rystad Energy said.
Valaris scores second rig deal in two days
Offshore drilling contractor Valaris is still on a hot streak as it secured another contract extension, this time with Norwegian oil major Equinor.
KCA Deutag bags $550 million in new platform drilling contracts
KCA Deutag has secured a contract award and two contract extensions for platform drilling services in Russia, UK, and the Norwegian North Sea.
Lukoil, Baker Hughes ink memorandum of cooperation
Oilfield services major Baker Hughes and Russian independent oil company Lukoil have signed a memorandum on cooperation.