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With its third capacity increase in 2 years of production, the third-largest oil field on the NCS is proving to be a powerhouse for Norway.

The partnership aims to speed up the decarbonization of seven global industries representing 30% of global emissions, which include steel, trucking, shipping, chemicals, cement, aluminum, and aviation.

DNV GL awarded Heerema Marine Contractors Statements of Feasibility for two concepts designed to reduce the noise of offshore structure installation.

A $3-million investment by a climate fund founded by TED curator Chris Anderson and an additional $2-million investment by a subsidiary of Helmerich & Payne will fund a hybrid CLG/EGS demonstration well in Texas. Drilling could begin this summer.

The deal seeks to add 151,000 acres to the Calgary-based oil company's portfolio for price of $465 million.

Sentiments are clearly improving amongst the hard-hit oilfield service companies who all saw revenue grow in the fourth quarter of last year.

A slew of new US regulations raise questions about the future of oil drilling on US government land, with reports of a moratorium on new leasing and permits as the administration considers major changes in the program.

The decision to cancel the nearly 1,200-mile-long project comes less than a year after construction began and is being met with disappointment on both sides of the US-Canadian border. A 60-day halt on new permits for onshore an offshore US federal areas has also been ordered.

Supply chain companies have seen their profits squeezed since the E&P cost cuts of the previous downturn, and just as the industry could finally hope for better days, the COVID-19 pandemic caused the value of 2020’s awarded contracts to slump to a 16-year low of $446 billion.

The $120 million per year, 5-year contracts will provide well-intervention services to Equinor’s fixed platforms.