Business & Finance
DNV, Vinde to inspect Vår Energi’s assets off Norway
Oil and gas company Vår Energi has awarded a three-year inspection services contract to a strategic partnership between Norway-based classification society DNV and Vinde Tilkomstteknikk.
Valaris emerges from Chapter 11 free of $7.1bn of debt
Valaris has completed its financial restructuring, emerging from the Chapter 11 bankruptcy and eliminating $7.1 billion of debt.
Equinor, Ørsted, Boskalis join AquaVentus offshore wind-to-hydrogen project
Ten new companies have joined the AquaVentus offshore wind-to-hydrogen project, including offshore wind developers Ørsted, Equinor, and WindMW, as well as the offshore construction company Royal Boskalis Westminster. The AquaVentus consortium, which is developing a massive project revolving around g
Baker Hughes gets subsea order from Petrobras
Baker Hughes has been awarded a subsea equipment contract from Petrobras as part of the Marlim and Voador field revitalization plan.
Eni and Santos to collaborate on projects in Australia and Timor-Leste
Italy’s Eni and Australia’s Santos have agreed to cooperate on projects in northern Australia and Timor-Leste.
Acta Marine seeks co-owner to back fleet expansion
Acta Marine and shareholder MerweOord are seeking a strategic co-owner to support the further expansion of the company’s offshore wind business. The strategic plan focuses on ordering two more construction service operation vessels (CSOVs) in the short term, as well as service operation vessels and
N-O-S adds four Wilson Offshore’s vessels to its fleet
Northern Offshore Services (N-O-S) will take over the management of four Wilson Offshore’s offshore supply vessels (OSVs) designed for accommodation, cargo transfers, walk-to-work (W2W), survey, and ROV operations. Under a cooperation agreement with the ship owner Wilson Offshore, N-O-S will take ov
Petrobras kicks off bidding process for ninth Búzios FPSO
Petrobras has started the bidding process for the acquisition of a new FPSO for the Búzios field, in the Santos Basin pre-salt area.
U.S. weekly offshore rig count up by two units
The number of offshore rigs in the U.S. increased by two units over the last week, according to a Friday rig report by Baker Hughes.
Icelandic maritime start-up secures fresh funding
Icelandic maritime start-up Hefring ehf. has successfully closed a financing round led by the New Business Venture Fund with the participation of Innoport and TechNexus.
Chevron profit shrinks due to effects of pandemic, storm Uri
U.S. oil major Chevron booked a smaller profit in the first quarter of 2021 compared to the same period last year because of ongoing downstream margin and volume effects resulting from the pandemic and the impacts of winter storm Uri.
ExxonMobil earns $2.7 billion in first quarter of 2021
U.S. supermajor ExxonMobil booked a quarterly profit due to benefits of higher commodity prices and structural cost reductions.
Stronger price environment pushes Eni 1Q profit past $1 billion
Italian oil and gas company Eni booked a net profit of over $1 billion in the first quarter of the year due to a strengthened upstream price environment.
Offshore wind investments to reach $810 billion by 2030 – Rystad Energy
With the global installed offshore wind capacity expected to exceed 250 GW by 2030, the combined capital and operational expenditure (capex and opex) for the decade is set to reach $810 billion (approx. €670.2 billion), signaling an increasing shift of investments from oil and gas to renewable energ