Norway’s energy major Equinor is today launching the world’s largest floating wind power installation, with 88 MW of capacity. The Hywind Tampen installation, offshore Norway, will supply electricity to oil and gas platforms in the area, Reuters notes in a report on the news. According to Equinor, the wind park …
Read More »Equinor to Cut Emissions with Electric Power in North Sea
Equinor will replace two gas turbines with heat recovery to produce electric power. This will reduce annual CO2 emissions by 95 000 t. Statfjord C will change its power solution to cut emissions. A new steam turbine will produce electricity based on surplus heat from two gas compressors. This will …
Read More »ADNOC Inks up to $550MM LNG Supply Deal with Japan Firm
ADNOC Gas PLC has signed a five-year agreement with Japan Petroleum Exploration Co. Ltd. (JAPEX) for the supply of liquefied natural gas (LNG). The deal amounts to between $450 million and $550 million, Abu Dhabi National Oil Co.’s (ADNOC) integrated gas unit said in a press release last week, not …
Read More »Adnoc Gas Signs LNG Supply Agreement with Japan Petroleum Exploration
Adnoc Gas, estimated to have the seventh largest gas reserves globally, has signed a five-year liquefied natural gas supply agreement with Japan Petroleum Exploration Co (Japex) The agreement is valued between $450 million and $550 million, the company said in a statement on Thursday to the Abu Dhabi Securities Exchange, …
Read More »BP Backs Green Hydrogen Start-up Aiming to Cut Fuel’s Costs
BP has invested in a start-up company developing technology seeking to use vapour from heavy industry to sharply reduce the production costs of zero-carbon hydrogen. BP Ventures, the British energy giant’s venture capital arm, was among several investors in a $12.5 million Series A financing in U.S.-based Advanced Ionics, the …
Read More »PetroChina Produces First Net-Zero Crude Oil at Asia’s Largest Oil Cluster
China’s onshore giant PetroChina has produced what it has hailed as the first green barrel of crude oil from the Jilin oilfield it owns and operates in northeastern China’s Jilin province. This accomplishment is part of a broader initiative aimed at mitigating carbon emissions and reducing the company’s overall carbon …
Read More »ADNOC Acquires 30% Stake in Azeri Gas Field
Abu Dhabi National Oil Company (ADNOC) will buy 30% in the Absheron gas field in the Caspian Sea in Azerbaijan by acquiring stakes from the current partners in the field, TotalEnergies and SOCAR. The French supermajor and State Oil Company of the Republic of Azerbaijan (SOCAR) have signed an agreement …
Read More »Supermajors Return to Libya as Political Climate Stabilizes
BP and Eni, as well as Algeria’s Sonatrach have returned to Libya after a force majeure forced them out of the North African country. In a statement, Libya’s National Oil Corporation said that BP and Eni had notified it about lifting the force majeure and returning to fulfill their contractual …
Read More »BP Returns more Cash to Shareholders despite Profit Miss
BP Plc raised its dividend by 10% and said it would buy back another $1.5 billion of shares, even as its second-quarter profit fell by more than expected amid weaker oil and gas prices. The results follow the pattern set by Big Oil peers Shell Plc, TotalEnergies SE, ExxonMobil Corp. …
Read More »Another Western Company has Left the Russian Arctic LNG 2 Project
French LNG technology company Technip Energies has withdrawn from the Russian Arctic LNG 2 project. The French Technip Energies has completely left the Arctic LNG 2 liquefied natural gas production project. The project is headed by Novatek, a gas producer registered on the Moscow Stock Exchange. It will be recalled …
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