As the US oil industry reels from the collapsing oil prices, Canada’s oil business is seeing its oil prices rallying. How can that be? It is the result of strong political intervention in Alberta’s oil business in an attempt to save it from devastation….
The Norwegian Petroleum Directorate (NPD) has sanctioned Aker BP’s request to drill two exploration wells in the southern Norwegian North Sea. The jack-up Maersk Interceptor will drill wells 2/11-12 A and 2/11-12 S in production licence 33, close to the Danish median line and…
Spanish state-owned shipbuilding company Navantia has been awarded a contract by Aibel for work on the Equinor-operated Johan Sverdrup project located offshore Norway. Navantia said it had been awarded the contract for the construction of an HVDC substation module for the Johan Sverdrup field in…
A new analysis of the nation’s major shale gas plays shows 20% more natural gas can be technically recovered from future wells compared with an estimate made five years ago. Researchers primarily attributed the increase to new drilling practices. The analysis by the…
The technology group Wärtsilä has been contracted to deliver a dual-fuel power plant to the Caribbean island of Aruba. The 102 MW plant has been ordered by the local utility, Water–En Energiebedrijf Aruba NV (WEB), to enable WEB to build a solid foundation to…
After a run up earlier this year, crude oil prices have been collapsing in recent months. Prices dropped nearly 25 percent in November alone, the biggest monthly loss in a decade, as traders stress over a possible glut in global supplies. Record production…
Oil tanker owners scrapped a record number of ships this year. Those who did missed out on a sharp rally in rates. Owners purged a record 100 of the industry’s main crude carriers so far, with most of that happening in the first half…
BP and its partners have taken the final investment decision (FID) for Phase 1 of the cross-border Greater Tortue Ahmeyim LNG development. The decision was made following agreement between the Mauritanian and Senegalese governments and partners BP, Kosmos Energy, Petrosen, and SMHPM. The…
Equinor has exercised an option to acquire a 50 % interest in the offshore wind development project Bałtyk I in Poland from Polenergia. This transaction is a follow-up of the agreement between the two companies which came into force in May 2018 , by…
EDF Renewables, Canada has announced the signing of a 20-year Renewable Electricity Support Agreement (RESA) with the Alberta Electricity System Operator (AESO) for the renewable attributes related to the 201.6 megawatt (MW) Cypress Wind Project. The contract, secured through Round 2 of the Renewable…
