Fossil Energy
Rystad expects 2021 to bring largest crude deficits in years
The Covid-19 pandemic has devastated crude and condensate demand, creating massive supply surpluses and filling up inventories, according to Rystad.
Nord Stream 2 to start laying pipes in Danish waters in January
Russia’s Nord Stream 2 gas project is expected to start laying pipes for the gas pipeline in Danish waters in January 2021.
Norwegian court’s ruling in favour of Arctic drilling sparks outrage
Norwegian Supreme Court has ruled against environmental groups and in favour of the government following a lawsuit claiming the government violated the people’s right to a healthy environment by issuing new exploration licences for Arctic drilling.
Eni enters new alliance to work on key sectors of energy transition
Italian oil and gas company Eni, CDP, and Snam have signed a Letter of Intent to start a strategic collaboration for the energy transition.
Oil & Gas UK adds three board members as sector pushes to meet net-zero target
Oil & Gas UK has appointed three major business leaders to its board as the sector sharpens its focus on meeting net-zero targets.
AqualisBraemar acquires LOC Group
AqualisBraemar has acquired 100 per cent of the shares in LOC Group with the purchase price consideration of USD 20.2 million (around EUR 16.5 million) cash consideration plus two million conditional warrants in AqualisBraemar. As reported in November, when the acquisition was announced, LOC Group’s
Equinor and partners to improve North Sea field recovery with $345 million investment
Equinor has decided to invest NOK 3 billion ($342.8 million) in the Statfjord Øst field to improve recovery by 23 million barrels of oil equivalent.
ConocoPhillips makes ‘significant’ oil discovery off Norway
ConocoPhillips has made a new oil discovery in production license 891 located 14 miles north-northeast of the Heidrun field in the Norwegian Sea.
Shell to write down oil and gas assets value by as much as $4.5 billion
Oil major Shell said it will write down the value of oil and gas assets by $3.5 billion to $4.5 billion following a string of impairments this year as it adjusts to a weaker outlook.
Shell taps Aker Solutions for work on Ormen Lange Phase 3
Norwegian engineering firm Aker Solutions has been awarded a letter of intent from oil major Shell for the Ormen Lange Phase 3 onshore project.
MHWirth to deliver drilling equipment for Chinese drillship
Drilling solutions provider MHWirth has received an order to deliver a drilling equipment package for a Chinese drillship.
Standard Drilling finds new work for supply vessels
Standard Drilling has secured more work for its platform supply vessels. The vessel utilization for its PSVs totalled 74 per cent in October and November.
DOF Subsea scores multiple contracts in Atlantic region
Oslo-listed engineering and marine services player DOF Subsea has been awarded multiple new contracts for execution in the North Sea, Mediterranean and Africa.
Equinor cleared to use Odfjell rig in North Sea
Equinor has received consent from the country’s offshore safety watchdog to use the Deepsea Atlantic rig on a well in the North Sea off Norway.