Business & Finance
The ripple effect on trade of one giant ship stuck in Suez
Ever Given made headlines yesterday following its grounding in one of the key bloodlines of the global trade, namely the Suez Canal. Specifically, 12% of world trade takes place through the Suez Canal, and estimates from Bloomberg indicate that the blockage has halted $9.6 billion worth of traffic a
Aker Solutions gets subsea system order from ConocoPhillips
Aker Solutions has won a large contract from ConocoPhillips to provide a subsea production system for the Eldfisk North development offshore Norway.
Eni and Novatek kicking off drilling ops off Montenegro
Italy’s Eni and Russia’s Novatek are starting drilling operations in waters offshore Montenegro, using Vantage Drilling’s Topaz Driller jack-up rig.
Eni commits to oil & gas to renewables workforce transition
Eni and the University of Strathclyde have signed a Memorandum of Understanding (MoU) to develop a program to help the workforce from the oil & gas sector in Scotland transfer their skills to renewable energy technologies. Eni with Eni Corporate University and the Strathclyde University will work to
Noble Corp. to combine with Pacific Drilling
Noble Corporation and Pacific Drilling have entered into a definitive merger agreement under which Noble will acquire Pacific Drilling.
CNOOC hits record oil and gas production in 2020
Annual oil and gas reserves and production by Chinese oil and gas player CNOOC Limited have hit a new record high while costs decreased to a ten-year low.
Saga Pure acquires stake in liquid hydrogen storage tech firm
Saga Pure ASA, a Norwegian company that recently switched its focus from shipping to renewables, has committed to subscribe for NOK 30 million ($3.5 million) in a private placement of new shares in IC Technologies AS (ICT).
Ineos to sell Norwegian oil & gas business for $615 million
Ineos Energy has made an agreement to sell its oil and gas business in Norway to PGNiG Upstream Norway for a consideration of $615 million.
Tenaris to provide line pipe for Northern Lights CCS project
Norwegian energy major Equinor has awarded Tenaris a deal for the supply of tubulars for the Northern Lights carbon capture and storage facilities off Norway.
Alpha Petroleum files Wenlock decommissioning plans
Alpha Petroleum has filed its draft decommissioning programme for the Wenlock field platform located off the UK to the country’s authorities.
Carnegie reaches debt-free status
Renewable energy company Carnegie Clean Energy has become debt-free following the conversion of the remaining convertible notes.
Corvus puts forward leasing for energy storage systems
Norway-based energy storage company Corvus Energy is now offering a global lease financing product in cooperation with Viridis Kapital to accelerate shipping’s green transition.
ScotWind offshore wind leasing back on track
Crown Estate Scotland has completed the review of the option structure for the ScotWind offshore wind leasing round, raising the maximum fee that might be paid per square kilometre of seabed from the previous GBP 10,000 (around € 12,000) to GBP 100,000 (around € 116,000). The Scottish seabed manager
Shelf Drilling clinches two-year extension in Egypt
Offshore drilling contractor Shelf Drilling has secured a contract extension for one of its jack-up drilling rigs for operations in Egypt.