Fossil Energy
Total to examine if O&G platforms can run on renewable energy
French energy major Total has joined a project to explore the potential of powering offshore oil and gas platforms with floating wind and wave energy. The O/G Decarb innovation project will examine the possibility of using a combined wind and wave technology on a floating foundation to store energy
Valaris books $3 billion loss over rig impairments
Valaris booked $3 billion loss in the first quarter of the year affected by impairments and fleet utilization decline.
Shell cuts dividend as profit tumbles on low oil prices
Shell has decided to slash its dividend after seeing its quarterly profit nearly halved when compared to the last year’s quarter amid a dramatic decline in oil price.
Aker Solutions slips to quarterly loss
Aker Solutions booked Q1 2020 loss of NOK 742 million, against profit of NOK 149 million same time last year. Lower activity levels towards the end of the quarter impacted the results, as operators postponed offshore work to mitigate the spread of the coronavirus. Loss per share was NOK 2.73. Exclud
Equinor bites dust in North Sea well
Norwegian oil and gas company Equinor has drilled a dry well near the Oseberg field in the North Sea off Norway.
Safety nod for Spirit Energy to use Leiv Eiriksson rig in Barents Sea
Oil and gas company Spirit Energy has received consent from the offshore safety body, the Petroleum Safety Authority (PSA), for exploration drilling in the Barents Sea using the Leiv Eiriksson drilling rig.
Gazprom’s net profit dips
Russian gas giant Gazprom reported a 17 percent drop in 2019 net profit due to lower prices and declining demand in Europe. Gazprom’s net profit reached 1.2 trillion Russian roubles ($16.3 billion) last year. This compares to 1.46 trillion roubles in 2018. Operating profits also fell by 42 per cent
Large E&P player interested in Corallian’s block off UK
UK oil and gas company Corallian and its joint venture partners, Upland Resources and Baron Oil, have signed a work-sharing and confidentiality agreement with an undisclosed “large European E&P company” for licence P2478 in the Inner Moray Firth which could lead to a future farm-out deal.
Neptune Energy partners with Eneco on PosHYdon
Dutch energy company Eneco has joined as a partner the PosHYdon pilot, the world’s first offshore green hydrogen project, Neptune Energy said. Eneco will supply simulated wind data from its Luchterduinen offshore wind farm to support the project which aims to integrate three energy systems in the No
KenzFigee to provide pipe handling cranes for two Spliethoff newbuilds
Dutch offshore lifting equipment provider KenzFigee has been awarded a contract by Amsterdam-based shipping company Spliethoff for the delivery of pipe handling gantry cranes for their two newbuild multipurpose DP2 B-type vessels, currently under construction at the Mawei Shipyard in China.
Floatel gets charter extension on Martin Linge field
Equinor has extended the charter for a Floatel International-owned accommodation rig for operations on a field offshore Norway.
UK unions call on gov’t to halt ‘carnage’ of oil & gas jobs
UK’s offshore unions have launched a campaign to protect the jobs in the oil and gas sector and secure its future, calling for a halt to the “carnage” of jobs.
Neptune kicks off Fenja drilling campaign
Neptune Energy has kicked off its Fenja drilling campaign, located offshore Norway, following the spud of the first well.
OKEA dives deeper into the red
OKEA sank deeper into the red in the first quarter of the year affected by lower oil and gas prices and sales volumes resulting in impairments of over $60 million.