Norwegian energy giant Equinor has set a goal to reach net-zero emissions in line with the Paris Agreement. Earlier this year Equinor announced plans to achieve net zero greenhouse gas emissions in Norway by 2030 and to reduce absolute greenhouse gas (GHG) emissions in Norway to near zero by 2050....
Offshore News
Active Hurricane Season Weighs on U.S. Energy Production
Oct 29 (Reuters) – As crews began returning to U.S. Gulf of Mexico offshore facilities on Thursday, this year’s repeated oil and gas production halts were already hitting energy firms’ results. Eight named storms entered the U.S. Gulf of Mexico this year, most spiraling up to damaging storms that...
Exxon Mobil to Slash 14,000 Jobs Due to Oil Slump
By Kevin Crowley (Bloomberg) –Exxon Mobil Corp. will slash its global workforce by 15% by the end of 2022, an unprecedented culling by North America’s biggest oil explorer as it struggles to preserve dividends. The cuts will include 1,900 U.S. jobs, mostly in Houston, as well as layoffs previously...
Exxon Mobil’s Fading Star: United States’ Once Biggest Energy Company Surpassed by Rivals
By Jennifer Hiller Oct 29 (Reuters) – Exxon Mobil Corp was once the largest U.S. publicly traded company in the United States. Now, the oil major is not even the largest energy name, having been surpassed by rivals and even a renewable company, as it tries to maintain its hefty dividend. It has...
World’s Top Wind Turbine Maker Ups the Stakes in Offshore Race
By William Mathis and Nishant Kumar (Bloomberg) — Vestas Wind Systems A/S, the world’s biggest wind turbine manufacturer, will buy out its offshore joint venture partner in an all-share deal that looks to take advantage of an expanding industry at the heart of the energy transition. The 709...
U.S. Gulf’s Offshore Energy Producers Brace for Latest Hurricane
By Erwin Seba HOUSTON, Oct 27 (Reuters) – Energy firms and ports along the U.S. Gulf Coast prepared on Tuesday for another test as Hurricane Zeta, the 11th hurricane of the season, entered the Gulf of Mexico. BP, Chevron and Royal Dutch Shell, among others, evacuated 157 offshore facilities and...
Turkey Continues Disputed Mediterranean Seismic Survey
by Daren Butler (Reuters) – Turkey said it was extending the seismic survey work of its Oruc Reis ship in a disputed area of the eastern Mediterranean until Nov. 4, taking a step which was set to fuel tensions in the region. NATO members Turkey and Greece are locked in a dispute over the extent […]
PDVSA to Offload Crude from Listing Oil Facility Off Venezuela
CARACAS, Oct 20 (Reuters) – An oil tanker operated by Venezuelan state oil company Petroleos de Venezuela on Tuesday approached a floating oil facility where it is expected to receive crude via transfer at sea amid environmental concerns, Refinitiv Eikon data showed. Environmental groups have in...
Losing Control? Norway’s Offshore Oil Workers Fear for Future as Rigs Go Remote
By Nerijus Adomaitis OSLO, Oct 20 (Reuters) – A shift to operating oil rigs remotely from land, which has been accelerated by lower crude prices, has rekindled concerns among Norwegian unions over the impact on the safety of offshore workers and the loss of well-paid jobs. These fears were...
BOEM Sets Date for Region-Wide Oil and Gas Lease Sale in Gulf of Mexico
The U.S. Bureau of Ocean Energy Management (BOEM) will offer approximately 78 million acres in the Gulf of Mexico for a region-wide lease sale now scheduled for next month, Acting Director Walter Cruickshank and Gulf of Mexico Regional Director Mike Celata announced Thursday. The acreage includes...