APL’s Fluid Swivel Technology Certified by DNV
NOV’s APL group has received technology qualification program (TQP) certification from DNV for its largest swivel. The swivel TQP developed by APL is claimed to be a game-changer for fluid swivels for oil, gas, e-fuels, and CO2 transfer.The TQP was developed to meet the increasing demand for larger swivel designs that can withstand higher pressures and temperatures. Large swivel stacks are used for floating production vessels to connect the processing system on the weathervaning vessel with the geostationary subsea installation.“Without the swivel stack…
US Appeals Court Orders Gulf Lease Auction Within 37 Days
A U.S. appeals court on Tuesday ordered that a postponed federal auction of drilling rights in the Gulf of Mexico be held within 37 days, a setback for environmentalists seeking expanded protections for the endangered Rice's whale.According to court papers, the New Orleans-based U.S. Court of Appeals for the 5th Circuit dismissed an effort by four green groups to block an expansion of the sale ordered by a lower court judge in September.The judges said the groups lacked standing to challenge the September decision.
California Sues Oil Giants
The state of California has sued major oil companies including Exxon Mobil, Shell PLC, and Chevron, accusing them of playing down the risks posed by fossil fuels, according to a court filing on Friday.The lawsuit, which also targets BP and ConocoPhillips, alleges the energy giants' actions have caused tens of billions of dollars in damages and accuses them of deceiving the public, the filing in a superior court in San Francisco showed.The American Petroleum Institute, an industry trade group…
Oil Companies Sue Over Lease Changes Made to Protect Whales
An oil and gas industry trade group, the state of Louisiana and Chevron on Thursday sued the Biden administration over its decision to withdraw acreage from an upcoming oil and gas lease sale in the Gulf of Mexico to protect an endangered whale.The suit is the latest dispute between the oil and gas industry and the administration of President Joe Biden over leasing federal lands and waters for energy development.Biden paused federal drilling auctions shortly after taking office in 2021 as part of his climate change agenda…
BP Backs Green Hydrogen Start-Up
BP has invested in a start-up company developing technology seeking to use vapour from heavy industry to sharply reduce the production costs of zero-carbon hydrogen.BP Ventures, the British energy giant's venture capital arm, was among several investors in a $12.5 million Series A financing in U.S.-based Advanced Ionics, the companies said on Tuesday.Other investors include Mitsubishi Heavy Industries, Clean Energy Ventures and Gatemore Capital Management.Green hydrogen, produced by splitting water through electrolysis using renewable energy…
Venezuela's Oil Exports Fall in Spite of Iranian Assist
Venezuela's oil exports last year declined due to infrastructure outages, U.S. sanctions and rising competition in its key Asia market despite assistance from ally Iran, according to shipping data and documents.Exports this year are expected to get a lift after the United States relaxed oil sanctions by authorizing some partners of state-run firm Petroleos de Venezuela (PDVSA) to resume taking Venezuelan crude.Iran expanded its role in Venezuela last year, sending supplies to boost exports and technicians to repair a refinery.
IEA Says World Oil Demand to Rise 2% in '23
World oil demand will rise more than 2% to a record high of 101.6 million barrels per day (bpd) in 2023, the International Energy Agency said on Wednesday, although sky-high oil prices and weakening economic forecasts dimmed the future outlook.The Paris-based IEA also said in its monthly report supply was being constrained because of sanctions on Russia over its invasion of Ukraine."Economic fears persist, as various international institutions have recently released downbeat outlooks…
Report says BHP Mulls Oil & Gas Exit
Global miner BHP Group is considering getting out of oil and gas in a multibillion-dollar exit as it looks to speed up its retreat from fossil fuels, Bloomberg News reported on Tuesday, citing people familiar with the matter.The world's biggest miner is reviewing its petroleum business and considering options including a trade sale, the report said, adding that the deliberations were still at an early stage and no final decision has been made."BHP does not comment on rumor or speculation…
