Business & Finance
MOL makes foray into ocean transport of liquefied CO2
Japanese shipping heavyweight Mitsui O.S.K. Lines (MOL) has decided to invest into Larvik Shipping, a Norwegian ship management company for liquified CO2 carriers. The investment marks MOL’s entrance into a completely new market of ocean transportation of liquefied CO2. The business sector plays a c
CMA CGM cuts its CO2 emissions by 4% in 2020
French container shipping major CMA CGM reduced the overall emissions of its fleet by 4% in 2020 compared to 2019, the company said in its annual report for 2020. Since 2008, the group has reduced its CO2 emissions by 49% (TEU-km), in line with its objective of reaching -50% emissions by 2030. This
Valaris gets safety order over incident with BOP ram door
Norwegian offshore safety authority has found serious breaches of regulations on a Valaris rig following an investigation of an incident from 2020.
TAQA awards 5-year North Sea deal to Odfjell Drilling
TAQA has awarded Odfjell Drilling a five-year contract for the provision of platform drilling & maintenance services on its North Sea installations.
Damen continues ship lease partnership with NIBC
Damen Ship Lease and Damen Financial Services, units of Dutch shipbuilding group Damen, and local commercial bank NIBC have entered into a multi-year partnership in the field of ship leasing.
Siemens to deliver eight topside modules for MISC Berhad FPSO
Siemens Energy has been awarded a topside EPC contract by MISC Berhad for eight complete topside modules for an FPSO bound for South America.
Oil demand recovery at risk over vaccination hiccups, Rystad says
Vaccination hiccups could prevent the recovery of up to 1 million bpd of oil demand in 2021, Norwegian energy intelligence company Rystad Energy has said.
Mexican government to absorb Pemex debt payments
Mexico’s President Andres Manuel Lopez Obrador stated that the country will absorb regular debt payments this year for state-owned oil company Petroleos Mexicanos (Pemex).
New York’s Albany County eyes offshore wind opportunities
In a State of the County Address this month, Albany County Executive Daniel P. McCoy revealed the intentions for the county to become the manufacturing hub of Upstate New York for the state’s offshore wind programme. The plan for tapping into the offshore wind opportunities is part of the Albany Cou
U.S. warns entities involved in Nord Stream 2 to abandon work
The U.S. State Department reiterated its warning that any entity involved in Russia’s Nord Stream 2 offshore pipeline project risks U.S. sanctions.
Regulator approves Santos plan for new Van Gogh wells
NOPSEMA has accepted an environment plan by Santos for the Van Gogh field infill development phase II (VGID2) installation off Australia.
Minesto reduces 2020 losses
Swedish marine energy developer Minesto has decreased its net loss for 2020 to SEK 17 million (€1.7 million) as opposed to the loss posted a year before.
Tullow approves sale of Equatorial Guinea asset to Panoro
Oil and gas company Tullow Oil has voted on its general meeting to approve the disposal of all issued share capital in its subsidiary Tullow Equatorial Guinea Limited (TEGL) to Panoro Energy.
Vaalco Energy on the lookout for new CFO
Houston-based Vaalco Energy has informed that Elizabeth Prochnow, its chief financial officer (CFO), has elected to retire effective 31 March 2021.