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Wood announced the creation of a new Technical Consulting Solutions (TCS) business unit, combining its diverse, multi-sector and technology-enabled specialist advisory and consulting capabilities into one global business. TCS immediately becomes a leader in the technical consulting space with an annual revenue of $2.8 billion and a connected global network of over 15,000 experts and
Shell has agreed to buy French offshore wind developer Eolfi SA, continuing its expansion into renewable power. The oil major is boosting spending on low-carbon energy as it faces pressure to address the risks climate change poses to its business. Shell’s biggest renewable bets so far have been on acquiring retail customers, through the purchase
Abu Dhabi will begin trading futures contracts of its flagship oil grade in what could eventually become a new price benchmark for a fifth of the world’s crude. Trading in Murban crude futures aims at “strengthening Abu Dhabi’s position as a global energy player,” Crown Prince Mohammed Bin Zayed Al Nahyan said Monday in a
Ecuador’s plan to boost its economy by attracting foreign oil investment is falling victim to heavy resistance from indigenous groups newly empowered by the protests that rolled across the nation last month. The 11-day uprising caused the government to rescind a fuel-price increase designed to meet austerity demands tied to a $4.2 billion International Monetary
America’s two biggest oil companies are starting to push back against the fracing ban touted by the leading candidates for the Democratic presidential nomination, which may become one of the most consequential flashpoints for energy markets during the election campaign. Exxon Mobil and Chevron executives spoke out publicly against the proposals for the first time
As discussions about IR35 and the impact on UK-based contractors increase, Wood, the oil and gas company based in Aberdeen, have today notified all their PSC contractors of their plans post April 2020. Grant Thornton are currently working with Wood to review the status of their UK-engaged contractors, aiming to finish the review by mid-December
Saudi Arabia has priced its lighter crude at the widest premium to heavier oil in almost two years as new rules mandating cleaner shipping fuels drive demand for less-sulfurous grades. Arab Extra Light’s premium over Arab Heavy ballooned to $4.65/bbl for December sales to Asia, according to data compiled by Bloomberg. That’s the highest since
OPEC slashed estimates for the amount of oil it will need to pump in coming years, projecting that its share of world markets will shrink until the middle of the next decade amid a flood of U.S. shale supplies. The producer group expects that demand for its oil will slide by about 7% over the
Subsea 3D scanning specialist Viewport3 is entering the decom market after securing two pre-removal scanning contracts with a combined value of £100k. Viewport3’s accuracy and ability to understand the precise details of what lies subsea has secured them the North Sea projects with two major operators. The contract scopes will see them providing the operators
Sparrows Group has doubled the size of its operations in the UAE after securing contracts worth in excess of £55 million in the past three months. The awards have resulted in more than 150 new positions being created in the region and includes scopes that accelerates the company’s expansion in the drilling sector. Included in