As we enter the final month of 2022, a review of the floating production system (FPS) market revealed that some E&Ps have been bold with investments in the development of their oil and gas (O&G) reserves, with a total of 1.9 mmboepd (1.3 mmbpd of oil and 3.8 bcfd of gas) of FPS throughput capacity sanctioned year to date (YTD).
The U.S. government's first-ever sale of offshore wind development rights off the coast of California drew $757.1 million in high bids, mainly from European companies seeking a foothold in the U.S. wind-power industry's expansion to the Pacific Ocean.The auction began on Tuesday and ended Wednesday, the offshore wind industry's first chance to snag leases in waters off the U.S. West Coast.
At least one liquefied natural gas (LNG) vessel gave up on Freeport LNG's export plant in Texas after the company last week delayed its planned restart to the end of December, ship tracking data from Refinitiv showed.Some analysts have said they do not expect Freeport to return until January
Oil-laden tankers risk being left languishing at sea if insurers do not urgently get clarity on an unfinished G7 and European Union plan to cap the price of Russian crude, two senior industry executives told Reuters.The Group of Seven (G7), which includes the United States, Britain, Germany and France, agreed in September to enforce a low price on sales of Russian oil.U.S.
A U.S. aircraft carrier arrived in South Korea on Friday for the first time in about four years, set to join other military vessels in a show of force intended to send a message to North Korea.USS Ronald Reagan and ships from its accompanying strike group docked at a naval base in the southern port city of Busan ahead of joint drills with South Korean forces.
U.S. crude shippers are exporting huge amounts of oil to meet strong demand from Europe following Russia's invasion of Ukraine and subsequent sanctions against Moscow. In coming years U.S. oil may find even more buyers overseas, but that could test the capabilities of U.S. export infrastructure.How much crude does the United States typically export?U.S. crude exports averaged 3.
Shell said on Friday it had loaded and shipped a cargo of liquefied natural gas (LNG) this week at its Prelude floating LNG facilityafter workers scaled-down industrial action at the site off northwestern Australia.The oil and gas giant slowed output at the 3.6-million tonne per year facility last week during a series of work stoppages by unions fighting for better pay and had warned that
Greece has impounded a Russian oil tanker off the island of Evia, the Greek coastguard said on Tuesday, as part of European Union sanctions imposed on Moscow over its invasion of Ukraine.Earlier this month, the EU banned Russian-flagged vessels from the 27-nation bloc's ports, with some exemptions
Japan's Asahi Tanker said it will start using the world's first electric-powered tanker for ship fuelling, known as bunkering, later this month in an effort to cut carbon emissions.Japan, which is the world's fifth-biggest CO2 emitter, aims to achieve carbon neutrality by 2050, while the global shipping industry, which relies on oil to power its vessels
Kawasaki Heavy Industries (KHI) and other Japan-based firms said on Tuesday that a pilot project to transport hydrogen produced from brown coal in Australia to Japan in the world's first liquefied hydrogen tanker had proven technically feasible.While hydrogen is widely touted as a fuel of the future with zero carbon emissions, it requires intensive energy input
SHADOWCAT and Triton Submarines have collaborated to develop and introduce a new Launch and Recovery Craft (LARC) dubbed SHADOWLARK. Designed by Incat Crowther, SHADOWLARK is a package priced under $10m for delivery in less than 14 months, a package that includes a 24-m LARC designed to carry a Triton 3300/3 MKII submersible
A group of European development banks plan to double its funding for global efforts to stop plastic waste from polluting the world's oceans to 4 billion euros ($4.6 billion).The Clean Oceans Initiative, led by the French and German development banks and the European Investment Bank is the largest such grouping targeting plastic pollution of the sea.