Business & Finance
Total’s profit back to pre-pandemic levels
French major Total reported a jump in profit for the first quarter of 2021, benefiting from the rising oil and gas prices.
SapuraOMV to sell assets off Peninsular Malaysia for $9 million
SapuraOMV, formed through a deal between Malaysia’s Sapura Upstream and Austria’s OMV, has agreed to sell its entire interests in producing assets located offshore Peninsular Malaysia to Jadestone Energy.
Equinor posts best quarterly results since 2014
Norwegian oil and gas company Equinor recorded a profit of $1.85 billion in the first quarter of the year due to price recovery, sustained cost improvements, and “strict capital discipline”.
SFL places its first sustainability-linked bonds
On 29 April, Bermuda-based ship owning and chartering company SFL Corporation Ltd. successfully placed $150 million in senior unsecured sustainability-linked bonds due 12 May 2026.
DSME scores deal for dual-fuel LPG carrier pair
South Korean shipbuilding giant Daewoo Shipbuilding & Marine Engineering (DSME) has secured an order for two dual-fuel LPG carriers from compatriot Hyundai LNG Shipping. The 91,000 cbm ships are expected to be built at DSME’s Okpo yard and delivered to shipowners by the fourth quarter of 2023. The c
Inter-array cable issue to leave €403 million mark on Ørsted
An inter-array cable issue on several Ørsted’s offshore wind farms in the UK and Continental Europe could have a total financial impact around DKK 3 billion (around €403 million) across 2021 to 2023, the company reported in its latest financial results. A cable failure was discovered during an inspe
Aquatera appoints new director as it undergoes major restructuring
Orkney-based environmental and sustainable energy company Aquatera has embarked on a major restructuring of its activities to create a new Aquatera Group structure covering the 15 businesses that it operates and participates in.
Shearwater hooks Polarcus assets
Seismic exploration company Shearwater GeoServices has acquired marine seismic acquisition assets previously owned by Polarcus.
Boskalis buys Oceanteam-Bourbon jointly owned CSV Southern Ocean
Dutch marine contractor Boskalis has acquired Southern Ocean, a large DP-2 construction support vessel capable of executing a wide range of offshore operations.
In ‘strong start to 2021’ Shell almost doubles first-quarter earnings
Energy supermajor Shell has nearly doubled its earnings in the first quarter of 2020 due to higher realised oil prices and chemicals margins.
Total buys into Taiwanese offshore wind
French energy major Total has signed an agreement with wpd to acquire a 23 per cent interest in Yunlin Holding GmbH, the owner of the 640 MW Yunlin offshore wind farm in Taiwan. The project, currently under construction, represents production capacity of 640 MW and benefits from a 20-year guaranteed
Trelleborg gets rid of another offshore oil and gas business
Swedish provider of engineered polymer solutions Trelleborg has divested another part of its oil and gas portfolio – this time in Norway.
Aker BP books profit, higher income over price increase and sold volume
Norwegian oil and gas company Aker BP has booked a profit and saw higher income in the first quarter of the year due to higher realised prices and an increase in sold volume compared to the previous quarter.
ADM Energy takes control of Barracuda field off Nigeria
Oil and gas investment company ADM Energy has completed the acquisition of a controlling interest in a risk-sharing agreement for the development of the Barracuda field.