Yahoo Finance – Sweden has cancelled 13 planned offshore wind farms in the Baltic Sea on security grounds. The government in Stockholm, a new NATO member, announced on Monday that it would no longer issue any licences for the construction and operation of the farms, which were to extend off the Swedish east coast down to the Öresund strait near Denmark.
(World Oil) – INEOS with its partners Harbour Energy and Nordsøfonden, has made a Final Investment Decision (FID) on the first commercial phase of Project Greensand, with storage operations set to begin at the end of 2025/early 2026. This decision paves the way for expected investments of more than $150 million across the Greensand CCS value chain. As the first
(World Oil) – Equinor and Shell will combine their UK offshore oil and gas assets and expertise to form a new company which will be the UK North Sea’s biggest independent producer, the companies’ UK subsidiaries have announced. The incorporated joint venture (IJV) will be set up to sustain domestic oil and gas production and security of energy supply in
(Oil Price) – Namibia’s offshore has yielded quality discovery as the African country continues to be an exploration hotspot for international companies. Portugal’s Galp has just successfully drilled and logged the Mopane-1A appraisal well in block PEL83, encountering light oil and gas-condensate in high-quality reservoir-bearing sands. The findings of this third appraisal well are “once again indicating good porosities, high permeabilities, and high
(Oil Price) – Exxon Mobil Corp. (NYSE:XOM) will drill a well off Cyprus in January in pursuit of natural gas, a senior executive told Reuters on Thursday. “We’ve spent the last two years collecting very detailed, three dimensional seismic data … We’ve identified several large prospects, and the next stage is to bring in a drilling rig and to test those,” said John Ardill, Vice-president for
(World Oil) – (WO) — HSM Offshore Energy, a leader in the EPCIC of multidisciplinary offshore renewable projects, has successfully rolled out the THOR OHVS (Offshore High Voltage Substation) and lifted the GIS modules for RWE Renewables at its Schiedam yard in the Netherlands. Upon completion, THOR, with a planned capacity of 1058 MW, will stand as Denmark’s largest offshore
(Investing) – LONDON -Oil prices steadied on Tuesday as the restart of production at Norway’s Johan Sverdrup oilfield offset investor concerns about an escalation in the Russia-Ukraine war. Equinor resumed partial production from the North Sea oilfield, Western Europe’s largest, after a power outage there helped lift oil prices by over 3% on Monday. Brent crude futures were down 12 cents, or
(World Oil) – Halliburton announced it will open new facilities in Namibia highlighting the importance of the country’s growing oil and gas industry. The facilities, which will support the company’s in-country operations, are located in Windhoek, Walvis Bay, Swakopmund and Lüderitz. With a combined footprint of 20,000 m², the facilities create a strong presence in the region. The Windhoek office will
(Oil Price) – The UK’s energy regulator Ofgem on Friday awarded a $2.5 billion (£2 billion) funding package for a subsea and underground cable between Scotland and northern England that would give North Sea wind farms additional access to the grid. Eastern Green Link 1 (EGL1) will be a high voltage electricity superhighway able to transport 2 gigawatts (GW) of UK wind-generated electricity
(Oil Price) – Saipem has won a $1.9-billion contract from TotalEnergies for engineering, procurement, construction, and installation (EPCI) at the $10.5-billion GranMorgu oil project offshore Suriname, the Italian engineering group said on Thursday. Saipem will work on the engineering, procurement, supply, construction, installation, pre-commissioning, and assistance for the commissioning and start-up of the Subsea Umbilicals, Risers and Flowlines (SURF) package at the project,
(Oil Price) – QatarEnergy has signed an agreement to buy a 23% working interest in a concession agreement offshore Egypt from the block’s operator Chevron, the state firm of Qatar said on Monday. QatarEnergy will acquire 23% of the North El-Dabaa (H4) Block in the Mediterranean from Chevron, which will retain a 40% interest in the concession. The other partners on the block
(Oil Price) – U.S. oil producer Apache plans to cease oil production at its assets in the UK North Sea by 2030, due to the windfall tax on operators. Apache’s parent company APA Corporation said in an SEC filing that its assessment of the impact of the windfall tax, officially known as the Energy Profits Levy (EPL), resulted in findings that continued production
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