Oil posted its biggest monthly advance on record, just a few weeks after prices made a dramatic plunge below zero. Crude surged about 88% in May, with US futures on Friday rising above US$35 a barrel for the first time since March, driven by…
An early look at Saudi Arabia’s crude exports for May shows that historic production cuts have done little to squelch the kingdom’s flood of oil to China, which is just getting back on its feet from the coronavirus. Saudi flows to the Asian nation…
Applied Petroleum Technology (APT), Oslo, has identified lower Jurassic source rocks and a genetically related set of oil shows in the Southern Grand Banks petroleum system offshore Canada. APT sampled and analysed drill cuttings from 13 key wells from Southern Grand Banks to assess…
The last of the three pre-assembled wind turbine platforms for the WindFloat Atlantic project left the Port of Ferrol for its destination 20 km (12 miles) offshore Viana do Castelo, Portugal. The journey is expected to take three days, arriving today. This operation…
Vestas has secured its largest order in Vietnam to date for a total of 144 MW for the three wind parks Lien Lap, Phong Huy, and Phong Nguyen in the Quang Tri Province. The order is placed by Power Construction Company No.1 (PCC1), a…
Neptune Energy has announced DEME Offshore, a leader in offshore wind energy and green hydrogen production, will bring its expertise to the PosHYdon pilot, the world’s first offshore green hydrogen project. Part of the Belgian DEME Group, the company joins as a partner and…
Potential leasing and drilling bans threaten the Gulf of Mexico (GoM) oil and natural gas industry’s contribution to US energy production, employment, gross domestic product (GDP) and government revenues, according to a new National Ocean Industries Association (NOIA) study. Citing calls for no offshore…
Who needs a loss-making, inflexible oil refinery in a world where demand for petroleum has been obliterated? We’re about to find out. When consumption of transport fuels collapsed this year because of coronavirus, much of the industry moved into survival mode, cutting processing rates…
Norwegian energy giant Equinor plans to bring back online its Hammerfest liquefied natural gas export plant on the 18th June following planned maintenance. The LNG operator said earlier this month it would close the export facility for scheduled maintenance for two weeks starting on…
Petrofac’s Engineering & Production Services division has started a well decommissioning contract for the Rubie and Renee fields in the UK central North Sea, 200 km (124 miles) north-east of Aberdeen. Over the next three months, the company will provide well operator, engineering and…
