Category: Offshore

ExxonMobil’s Position in Guyana Is Making Profits

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ExxonMobil’s massive offshore operations in Guyana are delivering blockbuster returns, even as global oil markets navigate geopolitical turbulence. The U.S. supermajor, operator of the world-renowned Stabroek Block, is riding a wave of record production, ultra-low breakeven costs, and newfound regional stability following Venezuela’s political restructuring. As highlighted in recent market analysis, the consortium’s cost-recovery phase […]

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Ørsted Explores $1 Billion+ Sale of US Onshore Renewables Assets Amid Strategic Pivot and US Policy Uncertainty

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Danish renewable energy giant Ørsted is reportedly exploring the sale of its US onshore renewable assets in a deal that could exceed $1 billion, according to Bloomberg reporting on May 22, 2026. The move comes as the company continues its global farm-down strategy, sharpens focus on core offshore wind in Europe and Asia, and navigates […]

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Romania Drilling for Nat Gas in Black Sea: Neptun Deep Project Set to Transform EU Energy Landscape

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Europe’s largest new natural gas development is officially underway. In the Black Sea, 160 km off Romania’s coast, drilling has begun on the Neptun Deep project — a landmark initiative that promises to nearly double Romania’s domestic gas output, turn the country into a net exporter, and bolster energy security across Central and Eastern Europe.The […]

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UK Moves to Ban New North Sea Oil and Gas Licenses Permanently – UK Deindustrialization and further fiscal failure on the horizen

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The UK government has confirmed it will introduce legislation to permanently ban new North Sea oil and gas exploration licenses, embedding Energy Secretary Ed Miliband’s existing moratorium into law through the Energy Independence Bill. The move, announced in the King’s Speech on 13 May 2026, fulfills a core Labour Party manifesto pledge to position Britain […]

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Global Supply Shock Reignites Oil Exploration Boom Global Supply Shock Reignites Oil Exploration Boom

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The world is facing its most severe oil and gas supply crunch in history, triggered by the ongoing Middle East conflict and prolonged disruptions to flows through the Strait of Hormuz—the chokepoint carrying roughly 20% of global oil. What began in late February as a short-term geopolitical flashpoint has evolved into a structural crisis, with […]

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Norway to Reopen Gas Fields That Were Shutdown

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Oslo, Norway – In a significant move to bolster European energy security, Norway’s Ministry of Energy has approved the reopening of three long-idle North Sea gas fields that were shut down in 1998. The fields—Albuskjell, Vest Ekofisk, and Tommeliten Gamma—are located less than 10 km west of the giant Ekofisk complex and will resume production […]

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GE Vernova Challenges Vineyard Wind’s Claims of Harm

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GE Vernova, the turbine supplier for the nation’s first utility-scale offshore wind project, is pushing back hard against Vineyard Wind’s assertions that its departure would cause “irreparable harm.” In an emergency motion filed this week in Suffolk County Superior Court, GE Vernova argues that the recent activation of the project’s long-term power purchase agreements (PPAs) […]

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