Latest News
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03 May 24
UK: NSTA offers 31 more licences in final set of 33rd round awards
The North Sea Transition Authority (NSTA) has today offered a further 31 licences in the latest phase of the 33rd oil and gas licensing round. A total of 82 offers to 50 companies have now been made in the round which attracted 115 bids from 76 companies across 257 blocks and part-blocks. -
03 May 24
UK: Booming pipeline of battery projects increases by two-thirds in last 12 months
A new report published by RenewableUK shows that the pipeline of battery projects has grown by two-thirds in capacity over the last year nationwide. Battery storage is essential for providing the security and flexibility that will make our future energy system resilient and reliable. -
03 May 24
Bahrain: Masdar and Bapco Energies to develop up to 2GW of wind projects in the Kingdom of Bahrain
Masdar, the UAE’s clean energy powerhouse, has signed an agreement with Bapco Energies, the integrated energy company leading the energy transition in the Kingdom of Bahrain, to jointly explore the development and investment in wind projects in the Kingdom with a capacity of up to 2 gigawatts (GW). -
03 May 24
Vestas announces Interim Financial Report Q1 2024
Vestas reports quarterly revenue of EUR 2.7bn with an EBIT margin before special items of (2.5) percent. Order intake of 2.3 GW and record-high combined order backlog of EUR 61.0bn. Full-year guidance maintained. Adjusted free cash flow amounted to EUR (997)m compared to EUR (1,280)m in the first quarter of 2023. -
03 May 24
Zephyr Energy announces debt for equity exchange and State 36-2R well drilling update
Zephyr Energy, the Rocky Mountain oil and gas company, has retired US$3.88 million (£3.11 million) of existing debt through the issuance of US$3.88 million (£3.11 million) of equity. The Company has also provided an update on the State 36-2R well, which is progressing as expected. -
03 May 24
Plenitude publishes 2023 financial statements, Sustainability and Impact Report
Plenitude has published its financial statements for 2023, as well as its Sustainability and Impact Report. The 2023 financial year ended with an adjusted operating profit of €515 million and an adjusted net profit of €220 million, both seeing an increase of approximately 50% compared to 2022. -
03 May 24
Yinson Production completes USD 1.3 billion debt financing for the Agogo FPSO
Yinson Production has announced the successful closing of the limited recourse term loan facility of up to USD 1.3 billion for the pre- and post-delivery financing of the Agogo FPSO. Once construction is completed, the Agogo FPSO will be deployed to the Agogo Integrated West Hub Development Project located in the West Hub of Block 15/06 offshore Angola. -
03 May 24
Italy: Prospex Energy provides update on the Selva Malvezzi production concession in Italy
Prospex Energy, the AIM quoted investment company focused on European gas and power projects, has provided an update from the Selva Malvezzi production concession in Italy. -
03 May 24
Technip Energies announces its unaudited financial results for the first quarter of 2024
Technip Energies, a leading Engineering & Technology company for the energy transition, has announced its unaudited financial results for the first quarter of 2024. -
03 May 24
Murphy Oil announces Q1 2024 financial and operational results
Murphy Oil has announced its financial and operating results for the first quarter ended March 31 2024, including net income attributable to Murphy of $90 million. Excluding discontinued operations and other items affecting comparability between periods, adjusted net income attributable to Murphy was $131 million. -
02 May 24
APA Corporation announces Q1 2024 financial and operational results
APA reported net income attributable to common stock of $132 million. When adjusted for items that impact the comparability of results, APA’s first-quarter earnings were $237 million. Net cash provided by operating activities was $368 million and adjusted EBITDAX was $1.24 billion. Following the completion of the Callon acquisition, APA is providing revised full-year 2024 guidance. In 2024, APA plans to invest $2.7 billion in upstream oil and gas capital. -
02 May 24
Nigeria: PGS data supports Nigeria 2024 Bid Round
PGS, a leading provider of seismic and reservoir data for energy exploration and development, has data over 10 offshore blocks on offer in the Nigeria 2024 Bid Round announced this week. -
02 May 24
FTC order bans former Pioneer CEO from Exxon board seat in Exxon-Pioneer deal
The US Federal Trade Commission took action to resolve antitrust concerns surrounding Exxon Mobil Corporation’s $64.5 billion acquisition of oil producer Pioneer Natural Resources by approving a consent order that prevents founder and former Pioneer CEO Scott Sheffield from gaining a seat on Exxon’s board of directors or serving in an advisory capacity at Exxon once it acquires Pioneer. -
02 May 24
Norway/Canada: Subsea Integration Alliance signs collaboration agreement with Equinor - commencing work on Wisting and Bay du Nord
Subsea 7 has announced the signing of a new long-term strategic collaboration agreement between Equinor and Subsea Integration Alliance (which comprises Subsea7 and OneSubsea). The agreement paves the way for exclusive collaboration to begin immediately on early, joint concept studies for two projects: the Wisting field offshore Norway, and Bay du Nord, off Newfoundland and Labrador, Canada. -
02 May 24
Morocco: Chariot commences drilling operations onshore Morocco
AIM-listed Chariot, the Africa focused transitional energy group, has announced that drilling operations have commenced at the Loukos Onshore licence, onshore Morocco, with the spud of the RZK-1 well on the Gaufrette prospect. -
02 May 24
Amplus forms new partnership with VG Energy in ambitious plan to target untapped reserves in West Africa
Amplus VGE, a joint venture between UK-headquartered Amplus Energy and Nigeria-based Versatile Group (VG Energy), along with support from Norway’s Carbon Circle, is bringing together innovative solutions to unlock lucrative marginal fields in West Africa. -
02 May 24
US: Nordex Group receives order for 148 MW for N149/5.X turbines
The Nordex Group has received an order for N149/5.X turbines from the United States and will be supplying 25 of its Delta 4000 series models. The turbines will be installed with an 89m seismic tower at an undisclosed wind farm in California. -
02 May 24
Ørsted announces interim report for the first quarter of 2024
Ørsted has announced its interim report for the first quarter of 2024. Operating profit in line with expectations, with offshore site earnings increasing 18%. Business plan progressing with Sunrise Wind award and completion of two offshore wind farms. -
02 May 24
Valaris reports first quarter 2024 results
Valaris has reported first quarter 2024 results. The Company reports net income of $26 million, Adjusted EBITDA of $54 million and Adjusted EBITDAR of $84 million. Awarded new contracts and extensions with associated contract backlog of more than $520 million during the first quarter. -
02 May 24
Australia: Copenhagen Infrastructure Partners secures two offshore wind feasibility licences in Australia and launches new platform company
Copenhagen Infrastructure Partners (CIP), on behalf of its Flagship Funds, has announced it was successful in Australia’s first offshore wind Feasibility Licence process securing two licences. CIP has site exclusivity to develop offshore wind projects over two areas one 586km2 and the other 689 km2. -
02 May 24
Shell announces first quarter 2024 results
Shell has announced its first quarter 2024 results. Q1 2024 Adjusted Earnings of $7.7 billion, reflecting strong operational performance across the business. CFFO of $13.3 billion for the quarter includes a working capital outflow of $2.8 billion. Commencing a $3.5 billion share buyback programme, expected to be completed by Q2 2024 results announcement. 2024 cash capex outlook unchanged: $22 - 25 billion. -
02 May 24
Union Jack Oil to Present at Sidoti Virtual Investor Conference
Union Jack Oil, a UK and USA focused onshore hydrocarbon production, development, and exploration company, announced that Zac Philips, Commercial Advisor, will present and host one-on-one meetings with investors at the Sidoti May Virtual Investor Conference, taking place on May 8-9, 2024. -
02 May 24
Italy: Heads of Agreement signed between Gunvor and LNEnergy
Reabold Resources has announced the execution of a non-binding Heads of Agreement between Gunvor International and LNEnergy for the purchase of liquefied natural gas ('LNG') by Gunvor from LNEnergy from the Colle Santo gas field, located onshore Italy. LNEnergy has the exclusive right to acquire a 90% interest in Colle Santo and Reabold owns a 26.1% equity interest in LNEnergy. -
02 May 24
Australia: Mainstream Renewable Power consortium awarded feasibility licence for 2.5 GW offshore wind development in Australia
Mainstream Renewable Power has announced that Gippsland Skies Offshore Wind, a consortium of Australian and international companies, comprising Mainstream Renewable Power, Reventus Power, AGL Energy and DIRECT Infrastructure, has been granted a feasibility licence by the Federal Minister for Climate Change and Energy, for a fixed bottom 2.5 GW offshore wind project off the Gippsland region of Victoria.
