News

  • Duo to develop Jones Act-compliant wind turbine installation vessel

    Lloyd’s Register North America Inc (LR) has signed an agreement for a joint development project (JDP) with Northeast Technical Services Company Inc (NETSCo) to design and develop a Jones Act-compliant wind turbine installation vessel.   The Jones Act, or Merchant Marine Act of 1920, requires…

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  • Nord Stream 2 pipelay resumes

    Gazprom has resumed pipelay of the 55-billion cu m/year Nord Stream 2 natural gas pipeline running between Russia and Germany in the Baltic Sea.   Russian pipelaying vessel Fortuna arrived last week at a construction site 70 km off the German coast, accompanied by two…

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  • New name revealed for Premier-Chrysaor combination

    UK oil and gas company Premier Oil will be renamed Harbour Energy following the completion of its merger with Chrysaor, which will create the largest London-listed independent oil and gas company.   Premier reached an agreement with Harbour’s UK operating company Chrysaor for a proposed…

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  • Equinor and Shell Combine Digital Forces

    Equinor has revealed that it will partner with Royal Dutch Shell to develop the next generation of Shell Inventory Optimiser, a solution which leverages analytics on historical data to optimise operational spare part inventory levels.   Microsoft will be supporting the companies with the co-development…

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  • Ecopetrol plans nine exploratory wells in 2021

    Ecopetrol expects to invest US$3.5-4 billion in 2021 based on an expected average Brent price of US$45/bbl for the year. Nearly 80% of the planned investment is allocated to projects in Colombia. The remaining 20% is expected to be spent mainly for development projects in…

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  • Drones emerging as key instrument in industry tool-kit

    Unmanned aerial vehicles (UAVs) or drones are taking on a larger role in offshore operations, serving as a means of remote inspection, data collection, and logistics. Recent field tests have shown that drones can provide a fast, safe and cost-effective solution for the inspection and…

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  • Morgan Stanley: US energy sector could see sustained rally

    Poor capital allocation, deflationary commodity prices, and weak returns have led to a 250% underperformance for the US energy sector over the past decade resulting in its fall to 2.5% of the S&P 500 from a peak of 13%, according to Morgan Stanley.   However,…

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  • Oil Sands Winning Praise from Wall Street

    After years in the shadow of the US shale boom, the Canadian oil sands are emerging from 2020’s historic market crash with a slew of upbeat outlooks from Wall Street equity analysts.   Morgan Stanley and Goldman Sachs are the latest firms to point out…

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