Industry News

Lukoil VP Leaves

30 June 2022, 12:48pm
Lukoil has revealed that Leonid Fedun has stepped down.
Read more... (source:

Offshore Wind Expansion Not Fast Enough For Net-Zero Targets

30 June 2022, 12:40pm
The offshore wind industry had its best-ever year in 2021, but expansion is still not fast enough to hit net-zero targets by 2030.
Read more... (source:

Equinor, Fluxys Developing Massive CO2 Transport Project

30 June 2022, 12:01pm
Equinor and Fluxys have agreed to develop a major infrastructure project for transporting captured CO2 from emitters to safe storage sites in the North Sea, connecting Belgium to Norway.
Read more... (source:

Developers plan to add 6 gigawatts of U.S. offshore wind capacity through 2029

30 June 2022, 12:00pm
Power plant developers and operators have reported plans to install more than 6 gigawatts (GW) of offshore wind capacity at sites mostly along the U.S. eastern seaboard over the next seven years, according to our latest Preliminary Monthly Electric Generator Inventory report. These additions include projects off the coasts of New Jersey, Maryland, and Virginia, as well as on Lake Erie, near Cleveland, Ohio.
Read more... (source:

World’s first hybrid-electric anchor handler completes sea trials

30 June 2022, 11:26am
Maersk Supply Service's AHTS vessel, which is believed to be the world’s first hybrid-electric anchor handler, has completed sea trials. The post World’s first hybrid-electric anchor handler... ...
Read more... (source:

Who Produced the Most Oil and Gas in 2021?

30 June 2022, 11:15am
BP's latest statistical review of world energy has the answer.
Read more... (source:

Petrobras extends contract for CGG’s dedicated reservoir services center

30 June 2022, 11:04am
Oil and gas giant Petrobras has awarded CGG with a four-year contract extension for […] The post Petrobras extends contract for CGG’s dedicated reservoir services center appeared first... ...
Read more... (source:

Onshore & offshore deals in Middle East bring Saipem $1.25 billion

30 June 2022, 10:17am
Saipem has been awarded multiple onshore extensions and new offshore contracts in the Middle East, totalling around $1.25 billion. The post Onshore & offshore deals in Middle East bring Saipem... ...
Read more... (source:

Aker BP – Lundin Merger Becomes Formal

30 June 2022, 9:53am
Aker BP has completed the acquisition of Lundin Energy's oil and gas business, creating the largest listed E&P company focused exclusively on the Norwegian Continental Shelf.
Read more... (source:

FTAI Ocean takes delivery of new well intervention tower system

30 June 2022, 9:44am
UK-based subsea engineering and offshore technology company Osbit has delivered a new well intervention […] The post FTAI Ocean takes delivery of new well intervention tower system appeared... ...
Read more... (source:

BP and Shell to Pay Employee Travel Costs After Abortion Ruling

30 June 2022, 9:35am
BP and Shell will assist with travel expenses for U.S. employees who cannot readily access health services.
Read more... (source:

Shell joining Equinor’s deepwater Gulf of Mexico project as operator

30 June 2022, 9:30am
Equinor has inked a deal to transfer a majority stake and operatorship of its field in the Gulf of Mexico to Shell. The post Shell joining Equinor’s deepwater Gulf of Mexico project as operator... ...
Read more... (source:

Equinor Transfers Operatorship Of North Platte To Shell

30 June 2022, 8:49am
Equinor has agreed to sell to supermajor Shell 51 percent of its interest in the North Platte deepwater development project in the U.S. Gulf of Mexico.
Read more... (source:

Solstad to bank over $54 million from new vessel contracts

30 June 2022, 8:46am
Norwegian vessel owner Solstad Offshore has secured contract awards for its construction support vessels […] The post Solstad to bank over $54 million from new vessel contracts appeared first... ...
Read more... (source:

All systems go for Wintershall Dea to bring North Sea tie-back on stream

30 June 2022, 8:12am
Wintershall Dea has secured all approvals from the Norwegian authorities to start production from a field in the North Sea off Norway. The post All systems go for Wintershall Dea to bring North Sea... ...
Read more... (source:

Gas Supplies to Europe Holding Firm

30 June 2022, 8:07am
'Market participants are still wary of further supply cuts and elevated prices though'.
Read more... (source:

Aker BP – Lundin merger to come into force today

30 June 2022, 7:03am
Aker BP expects the acquisition of Lundin Energy’s oil and gas business, through a statutory merger, to be completed today. The post Aker BP – Lundin merger to come into force today appeared... ...
Read more... (source:

Exxon Launches Tender For Bass Strait Facilities Decommissioning

29 June 2022, 7:48pm
Esso Australia, a subsidiary of oil and gas supermajor ExxonMobil, has announced that it started a technical tender process for the decommissioning of several of its facilities in Bass Strait.
Read more... (source:

Oil Down with Signs of Declining Gas Demand

29 June 2022, 7:46pm
Oil shed its gains after a bullish crude inventory report was tempered by an unseasonal slowdown in gasoline demand.
Read more... (source:

Americans Willing To Pay For More For Gas If Emissions Offset

29 June 2022, 6:57pm
Despite high inflation, 66 percent of Americans and 80 percent of young Americans are willing to pay more for sustainable products versus less sustainable competitors.
Read more... (source:

Shell Chief Says World Heading for Turbulent Period

29 June 2022, 5:55pm
'Spare capacity is very low, demand is still recovering'.
Read more... (source:

Whitecap Buys XTO Energy Canada

29 June 2022, 5:20pm
The deal is expected to close before the end of the third quarter.
Read more... (source:

Saipem Rakes In $1.25B In Middle East Contracts

29 June 2022, 3:13pm
Saipem has been awarded several contracts, both onshore and offshore, in the Middle East worth approximately $1.25 billion.
Read more... (source:

Sembcorp Marine delivers giant world’s first 8th generation drillship to Transocean

29 June 2022, 2:30pm
Singapore’s Sembcorp Marine has handed over a newbuild drillship, described as the world’s first eighth-generation drillship, to Transocean. The post Sembcorp Marine delivers giant world’s first 8th... ...
Read more... (source:

TGS To Reprocess Greater Catcher Area Seismic

29 June 2022, 2:30pm
TGS has announced a new seismic reprocessing project designed to secure exploration success in the Western Margins of the Central North Sea.
Read more... (source:

LLOG Starts Production From Gulf of Mexico Deepwater Field

29 June 2022, 2:05pm
LLOG Exploration has begun production from its Spruance Field which is in Ewing Bank Blocks 877 and 921 in the Gulf of Mexico.
Read more... (source:

Shell adds high-impact gas prospect in North Sea to Maersk rig’s backlog

29 June 2022, 1:59pm
Shell has hired a Maersk Drilling-owned rig to drill a prospect in the North Sea, which is expected to provide the UK with more gas sources. The post Shell adds high-impact gas prospect in North... ...
Read more... (source:

Where Will WTI Oil Price be at End-2022?

29 June 2022, 1:05pm
Find out what oil and gas firm executives think.
Read more... (source:

Uber Hikes UAE Fares as Petrol Prices Surge

29 June 2022, 12:00pm
The ride-hailing company will charge as much as 11 percent more for some trips.
Read more... (source:

U.S. refinery capacity decreased during 2021 for second consecutive year

29 June 2022, 12:00pm
Operable atmospheric crude oil distillation capacity, our primary measure of refinery capacity in the United States, totaled 17.9 million barrels per calendar day as of January 1, 2022, down 1% from the beginning of 2021. According to our annual Refinery Capacity Report, 2021 was the second consecutive year of decreasing refinery capacity.
Read more... (source:

First-Ever 8th Gen Drilling Juggernaut Delivered To Transocean

29 June 2022, 11:55am
The first-ever newbuild 8th generation drillship, the Deepwater Atlas, has been delivered in Singapore to U.S. offshore driller Transocean.
Read more... (source:

USA Condemns Mortar Attacks on IKR Oil Infrastructure

29 June 2022, 11:18am
'These attacks are designed to undermine economic stability'.
Read more... (source:

Significant volumes of gasoline and distillate move from the Gulf Coast to the East Coast

28 June 2022, 12:00pm
The U.S. Gulf Coast is a key supplier of motor gasoline and distillate fuel to the U.S. East Coast. During March 2022, the East Coast received an average of 1.9 million barrels per day (b/d) of gasoline and 0.9 million b/d of distillate by pipeline, tanker, and barge from the Gulf Coast.
Read more... (source:

In Colombia, natural gas consumption has been exceeding production

27 June 2022, 12:00pm
In 2020, when drought resulted in decreased hydroelectric power, Colombia imported 14.2 billion cubic feet (Bcf) of natural gas, which helped the country meet natural gas demand for electricity, according to our recently updated Colombia Country Analysis Brief.
Read more... (source:

EIA estimates show a decrease in global surplus crude oil production capacity in 2022

24 June 2022, 12:00pm
Our new report, titled Global Surplus Crude Oil Production Capacity, provides estimates of global surplus crude oil production capacity in both OPEC countries and non-OPEC countries. Preliminary estimates for these data show that, as of May 2022, surplus capacity in non-OPEC countries decreased by 80% compared with 2021. The data show that, in 2021, 1.4 million barrels per day (b/d) of surplus production capacity was available in non-OPEC countries, about 60% of which was in Russia. As of May 2022, we estimate that all surplus production capacity in Russia was eliminated due to the sanctions implemented after Russia's full-scale invasion of Ukraine. We determined that excess oil production capacity declined in other non-OPEC producing countries as well. We estimate that, as of May 2022, producers in non-OPEC countries had about 280,000 b/d of surplus production capacity.
Read more... (source:

*Please note: CGEF is not affiliated with any of the included websites or news organizations. Links are provided for convenience only.