Business & Finance
EnerMech eyes Mozambique expansion ‘as local activity ramps up’
EnerMech has created a new role of Mozambique country manager as it seeks to expand business with a new office in the country as local activity ramps up.
Best full year result in history for Reach Subsea
Norwegian contractor Reach Subsea has seen another record quarter in 2020 as well as the best annual result in the company’s history. Despite challenging market and operating conditions, Reach maintained high utilisation levels and successful project execution. The oslo-listed company has booked fou
Maersk Tankers, Cargill to launch a joint bunker procurement service
Maersk Tankers and commodity trader Cargill have formed a partnership that will see the two companies combine their bunker volumes. The partnership will offer a new bunker procurement service to tramp shipping companies and trading houses. Initially, the goal is to procure bunker fuel for Cargill an
SMC secures work at Changfang & Xidao offshore wind farms
Specialist Marine Consultants (SMC) has secured a contract to deliver marine coordination services at the Changfang and Xidao offshore wind farms in Taiwan. SMC will deliver a turnkey marine coordination package for the construction of the two wind farms, including the provision of both marine coord
Vår Energi hires Rem Offshore vessel
Norwegian shipping company Rem Offshore has won a contract award for one of its platform supply vessels (PSVs) from Vår Energi.
Blue Gem submits scoping report for second Celtic Sea floater
Blue Gem Wind, the joint venture of Total and Simply Blue Energy, has submitted the scoping report for the Valorous floating offshore wind project in the Celtic Sea. The proposed Valorous site is located approximately 50 km South West of the Pembrokeshire coastline. Valorous represents the second fl
CorPower Ocean scores €9 million for HiWave-5 commercial-scale demo
Swedish company CorPower Ocean has secured a private investment of €9 million, bringing total equity funding to support the demonstration of its first commercial-scale wave energy device in the flagship HiWave-5 project to over €20 million. The investment round was led by Midroc New Technology and
GasLog agrees merger with BlackRock
Piraeus-based LNG shipper GasLog has signed a deal and plan of merger with BlackRock Global Energy & Power infrastructure.
Earnings drop for Helix Energy Solutions
Helix Energy Solutions has seen its fourth-quarter 2020 profit almost cut in half on lower well intervention activity, slightly offset by its robotics unit. The Houston-based company reported net income of $4.2 million, or $0.03 per diluted share, for the fourth quarter 2020 compared to $8.1 million
Transocean bleeds red ink in fourth quarter
Transocean sank to a net loss in the last quarter of 2020 compared to the prior quarter but managed to reduce its losses in the y-o-y comparison.
Euronav inks sale and leaseback for VLCC
Belgium’s tanker shipping company Euronav has entered into a sale and leaseback agreement with China’s investment management company Taiping & Sinopec Financial Leasing Ltd Co. for Newton, a 2009-built very large crude carrier (VLCC).
UK to fund offshore wind manufacturing in disadvantaged regions
The UK Department for Business, Energy and Industrial Strategy (BEIS) has launched an Offshore Wind Investment Programme to support the delivery of manufacturing investment in the offshore wind supply chain in disadvantaged or deprived regions in the UK. UK-registered businesses can apply until 11:5
Neptune Energy fires up Gjøa P1 development
Operator Neptune Energy and its partners have started production from the Gjøa P1 development in the Norwegian sector of the North Sea.
Premier-Chrysaor merger clears regulatory hurdles
All of the regulatory conditions relating to Premier’s merger with Chrysaor have been satisfied and the requisite antitrust approvals have been received.