Business & Finance
UKEF backs First Subsea offshore wind contracts
Scottish firm First Subsea has secured several offshore wind contracts in overseas markets with financial backing from UK Export Finance (UKEF).
BP fined by regulator in UK over licence breach
The OGA has fined BP and served it with a sanction notice for breaching a licence condition by failing to report on two extended well tests.
Dutch start-up gearing up to tame the waves off The Hague
A newcomer in the wave energy sector, founded only a year ago with a name that pretty much speaks for itself – Dutch Wave Power – is preparing to launch its scaled wave energy prototype device for real sea trials offshore The Hague in the Netherlands.
Longboat says Equinor gearing up for a spud as exploration activity in Norway picks up
Equinor will start drilling a well off Norway in late August. This is the first of seven wells planned to be drilled by Longboat following three farm-in deals.
Taylor Maritime raises $75 million to buy up to 6 Handies
UK-based dry bulk shipping company Taylor Maritime Investments has raised $75 million through the issue of new ordinary shares to acquire up to six Handysize dry bulk vessels.
Shell gives green light for Whale development in Gulf of Mexico
Shell Offshore, a subsidiary of oil major Royal Dutch Shell, has made a final investment decision (FID) for Whale, a deep-water development in the U.S. Gulf of Mexico.
SIMEC Atlantis shares bounce back after main shareholder reclaims control
The UK-based tidal energy developer SIMEC Atlantis Energy has recorded a rise in the value of its shares after its main shareholder regained control of its stake in the company from the administrators.
Talos brings Tornado well online while Beacon works to tie back new oil find
Talos Energy has started production from its Tornado Attic well while its partner Beacon has struck oil in the Crown and Anchor sidetrack.
Seadrill hammers out plan to cut debt by $5 billion and raise $350 million
Seadrill Limited has hammered out a reorganization plan with its consenting lenders, which will allow it to emerge from Chapter 11.
U.S. makes the first step towards decommissioning of oil & gas assets off California
The U.S. government has made the first step in the review process for decommissioning oil and gas infrastructure off the coast of California.
Keppel receives request for arbitration in $42.5M dispute
Two of Keppel Offshore and Marine Limited’s wholly-owned subsidiaries have received a request for arbitration from an unnamed company for two FPSO contracts.
Helix names ex-Marathon Oil exec as new director
Helix Energy Solutions’ Board of Directors has appointed T. Mitch Little as a new director. Little will serve as a Class I director whose term will expire at Helix’s next annual meeting of shareholders. According to Helix, Little has over 30 years of experience in the petroleum industry in various t
Wellesley and Equinor swap development assets in Norway
Wellesley Petroleum and Equinor have signed a sale and purchase agreement covering several development assets located in Norway.
TechnipFMC’s figures increase as subsea activities ramp up
TechnipFMC’s Subsea division has reported an adjusted EBITDA of $154.1 million in the second quarter of 2021, a 14% increase compared to the first quarter of the year. The division saw a revenue of almost $1.4 billion, a modest improvement, and an operating profit of $72.4 million, a significant inc