Business & Finance
Vår Energi suffers delays at North Sea project due to Covid-19
Oil and gas companies are still feeling the impact of the Covid-19 pandemic as new project start-ups are being delayed and costs are rising due to continuous challenges arising from related restrictions.
Aker BP files development plan for new Alvheim tie-back
Norwegian oil & gas company Aker BP has filed its development plan for the Kobra East and Gekko project in the central part of the North Sea.
Proman adds two more methanol-powered ships to its newbuilding tally
Switzerland-based Proman has finalised an agreement to build two additional 49,900 dwt methanol dual-fuel MR tankers, bringing its total investment to six methanol-powered newbuildings. Proman, which is the world’s second-largest methanol producer, will be the sole owner of the Provident and Progres
Multimetaal to invest in Teamwork Technology’s Symphony wave power system
Dutch-based technical specialist in the metallurgical industry Multimetaal has announced plans to invest in compatriot company Teamwork Technology to further advance its Symphony wave energy device.
Baker Hughes nets major contracts from Petrobras for five offshore fields
Baker Hughes has secured two contracts by Petrobras to provide 322 kilometers of flexible pipes across five fields offshore Brazil. The first contract covers up to 96 kilometers of flexible pipe for the Sapinhoá and Tupi fields, while the second covers up to 226 kilometers of flexible pipe for the M
Correll to back ZTT on German offshore wind farms
China’s Zhongtian Technology Submarine Cable (ZTT) has awarded Correll Services with contracts related to subsea cables at the Kaskasi II and Gode Wind 3 offshore wind projects in Germany. Correll Services will provide platform cable routing, termination and testing of 155kV subsea cables for the AC
Equinor makes investment decision for Lavrans, Kristin Q discoveries
Equinor, Petoro, Vår Energi, TotalEnergies have decided to develop the Lavrans discovery and the Kristin Q-discovery which is a part of the Kristin field.
Innovate UK backs wave powered micro-grid project for Thailand
Innovate UK, the UK’s innovation agency, has provided £297,000 in grant funding for Eco Wave Power Gibraltar-led project to develop a wave powered micro-grid system that will eventually be tested on the islands of Thailand.
Report: STX Offshore inks deal for 12 new vessels
South Korea-based shipbuilder STX Offshore & Shipbuilding has won multiple orders with Oceania-based shipping companies to build twelve tankers, the Korea Herald reports citing the company’s statement.
Chairman and non-exec directors leave Hurricane Energy
The chairman of UK oil and gas company Hurricane Energy, as well as all other non-executive directors, have resigned from the company’s board effective immediately.
Precious Shipping obtains $85 million sustainability-linked loan
Thai dry bulk owner and operator Precious Shipping has secured a sustainability-linked loan facility worth $85 million. The loan was inked with International Finance Corporation, Export-Import Bank of Thailand, and TMBThanachart Bank Public Company Limited, mainly to refinance four cement carriers a
Australian oil & gas sector sees new decommissioning levy as ‘terrible precedent’
Australian oil and gas industry association has labelled a new levy by the government related to decommissioning costs for Laminaria-Corallina oil fields as over the top and extreme.
200-turbine floating wind oil & gas electrification project selects first supplier
Cerulean Winds, a company that recently unveiled a project for the production of green hydrogen and electrification of offshore oil & gas assets with 200 floating wind turbines off Scotland, has named the first of its delivery partners. The company has selected NOV as the exclusive provider of float
All 13 GMS vessels under contract after hat-trick award
Following the award of three new contracts, Gulf Marine Services (GMS) now has all 13 vessels in its fleet under contract.