New oil & gas find in North Sea ends up ‘not profitable’ due to price headwinds

After making another oil and gas discovery in the North Sea, thanks to drilling activities one of Odfjell Drilling’s sixth-generation semi-submersible rigs carried out off the coast of Norway, Equinor, a Norwegian state-owned energy giant, has emphasized that the development of this discovery does not meet its profitability criteria in the current price environment. The …

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Net-zero goal at risk as shipping falls short of green fuel target by 2030, report warns

The global shipping industry is not on track to meet the target of having zero-emission fuels account for 5% of all fuels by 2030, jeopardizing its ambition of hitting net-zero emissions by 2050, a new report shows. The post Net-zero goal at risk as shipping falls short of green fuel target by 2030, report warns …

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‘Large-scale’ transformation of reserves from trillion-cubic-meter gas region into usable energy production brings new project online in Chinese waters

CNOOC has started production from a natural gas project in the South China Sea, where the firm recently confirmed the total proved gas in place exceeded one trillion cubic meters. The post ‘Large-scale’ transformation of reserves from trillion-cubic-meter gas region into usable energy production brings new project online in Chinese waters appeared first on Offshore Energy.

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