Business & Finance
Archer buys Norwegian well intervention player
Archer has signed a sale and purchase agreement to acquire DeepWell based on an enterprise value of NOK 177 million.
Suez Canal Authority offers to cut Ever Given bill to $600 million
The Suez Canal Authority (SCA) is offering to slash the compensation bill for Ever Given’s March grounding in the waterway from $900 million to $600 million, according to the canal’s chairman Osama Rabie. While speaking to a local television channel MBC Masr, Rabie is quoted as saying by Bloomberg,
In focus: Recent developments in the energy transition race
With the In focus column, Offshore Energy delivers a weekly snapshot containing the most relevant energy transition items.
![] HMM Nuri departed the Port of Singapore bound for the Port of Rotterdam](/_next/image?url=%2Fapi%2Fmedia%2Ffile%2Fwp-import-1784817815279-602x401.png%3Fprefix%3Dmedia&w=1920&q=75&dpl=dpl_36cwzhMtsQ5Gi84XCM2fgNNrLXXZ)
HMM sets sights on more ultra-large boxship newbuilds
South Korean shipping heavyweight HMM is considering new orders, including those for 13,000 TEU-class containerships, the company confirmed to Offshore Energy. The comment was made in the context of market rumors that HMM was in talks with compatriot yards on a potential order for a dozen 13,000 TEU
Spanish-Japanese company unveils 500 MW floating wind plan in Scotland
A Spanish-Japanese company has unveiled plans for a 500 MW floating wind farm in the North East of Scotland and is now looking for a financial partner to develop and build the project. The company, with head offices in Madrid and Tokyo, announced on 5 May that it had begun the process of searching f
Transocean and Suncor fined over offshore fluid spill
Canadian offshore petroleum regulator has fined Suncor Energy and Transocean over an unauthorized fluid discharge from a rig back in 2018.
ONGC awards three-year deal to Jindal jack-up
Indian oil and gas company ONGC has hired a jack-up drilling rig from compatriot offshore drilling contractor Jindal Drilling & Industries.
Advocacy firm calls for ousting of Chevron CEO, lead director over climate change policies
American issue-advocacy organisation Majority Action has urged stakeholders of U.S. supermajor Chevron to vote against the re-election of the current chief executive officer (CEO) and lead director.
Stranded FPSO Umuroa leaves Tui field after 14 years
The BW Offshore-owned FPSO Umuroa has been disconnected from the Tui field, located offshore New Zealand, after spending 14 years there.
Euronav confounded by lack of recycling
Belgian tanker major Euronav is bewildered by the lack of ship recycling in the tanker market given the prevailing headwinds and low freight rates. Historical trends show that low tanker rates induced owners to send their older tonnage to the scrapyard. Over the last 30 years, on average 5% of the V
Petrobras contracts SM Continental for ROV services
Brazilian SM Continental, part of James Fisher group, has won a contract to provide ROV services to oil and gas company Petrobras. The two parties signed the agreement for a period of two years. “These new services and the growing customer base mean that the James Fisher group now has a well-establi
MOL preparing to drill appraisal well in North Sea
The Norwegian Petroleum Directorate (NPD) has granted MOL Norge a drilling permit for an appraisal well in the North Sea.
Vantage says deepwater market could begin to recover later this year
Vantage Drilling believes the shallow water activity is stabilizing and the recovery in the deepwater market could begin later in 2021.
UK universities get grants for underwater offshore wind research
The Supergen Offshore Renewable Energy (ORE) Hub has awarded four UK institutions with grants from its third Flexible Funding call for research projects focused on underwater offshore wind infrastructure. Southampton University received a share of the awarded £800,000 for a project aimed to identify