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Askeladd Vest is Phase 2 of the Snøhvit gas development, which is expected to see an FID this year.

Two of the biggest assets to suffer from the new valuation are in Australia. Shell’s QGC venture and its floating liquified natural gas facility, Prelude, have been reduced in value by up to $9 billion.

The deal includes 15 global sites and over 1,700 staff expected to transfer to INEOS upon completion of the sale. The deal also follows BP’s announcement earlier in the month that it would cut 14% of its workforce.

An independent study pegged the cost of the project at about $2.6 billion, 80% of which Norway’s government planned to fund. The ministry said there is uncertainty about Northern Lights’ benefits and that it could prove to be unprofitable.

The drop in US LNG exports comes amid a combination of weak demand, ample supply, additional capacity coming on line, and flexibility to cancel US cargoes.

The distressed shale pioneer will wipe away nearly $7 billion in debt and is likely to make major asset sales as it attempts to restructure itself into a profitable business.

Operations during the COVID-19 pandemic and actions to decarbonize operations are among the highlights.

In response to increasing demand for remote offshore services, Fugro has completed the Middle East’s first fully autonomous geophysical shallow-water route survey.

The White House review of proposed rules for an expanded credit for capturing and storing carbon dioxide resulted in changes that give the IRS more time to take back the credits in case of carbon leaks.

iHawk, Cyberhawk’s cloud-based asset visualization software, will become Shell’s next-generation visualization software platform for all onshore, offshore, and subsea assets, as well as all global construction projects.