bp Plc has agreed to sell its U.S. onshore wind business to LS Power, as the company continues efforts to pivot back toward its core oil and gas business and reverse years of share underperformance. SourceContinue Reading
Chevron has won its arbitration battle with ExxonMobil and successfully closed its $53 billion deal to buy Hess Corp. more than 20 months after the takeover was announced. Acquiring Hess and its stake in Guyana significantly increases the quality of Chevron’s oil assets beyond the Permian basin, analysts said. SourceContinue Reading
“The revisions announced will do much to streamline the program and ensure taxpayer funds are used efficiently to plug as many orphaned wells as possible,” wrote Railroad Commission of Texas Chairman Jim Wright. SourceContinue Reading
Helix Robotics has entered into an agreement with Denmark’s NKT for the T3600, designed to be the world’s most powerful subsea trencher. The agreement covers installation, offshore operations, project engineering and maintenance of the T3600 subsea trencher for a period of four years. SourceContinue Reading
Eni SpA’s deal to sell half of its carbon capture and storage unit to BlackRock Inc.’s Global Infrastructure Partners will likely value the business at around $1.2 billion (€1 billion), according to people familiar with the matter. SourceContinue Reading
Wind and solar projects being constructed on federal land will be required to undergo a new review process at the Interior Department, under a new Trump administration directive that could slow the approval of projects. SourceContinue Reading
Subsea7 has been awarded a large contract by Equinor’s Fram Sør development. The project work scope covers EPCI of subsea structures and flowlines including 53 km of production, gas lift and water injection lines. SourceContinue Reading
Chevron is cutting drill rigs and frac crews in the Permian basin as it approaches its long-term target of producing 1 million boed in the region. “We’re going from growth to cash generation,” said Bruce Niemeyer, who heads up Chevron’s shale business. SourceContinue Reading
EnerMech has been awarded a two-year crane operations & maintenance (O&M) contract extension to continue supporting a North Sea operator. The additional campaign reinforces the global technical solutions specialist’s successful delivery of core crane expertise such as crane mechanics and operators, as well as all planned maintenance, reactive and breakdown support, and project work both...Continue Reading
Activity is slowing in U.S. oil fields as drillers remain in the crude-price danger zone for profits, according to one of the biggest investors of private operators in the shale patch. SourceContinue Reading
