Business & Finance
LLOG, Eni sign infrastructure agreement for Taggart development
LLOG Exploration Offshore and Italian oil major Eni have signed an infrastructure agreement for subsea infrastructure in the deepwater Gulf of Mexico.
ADNOC awards offshore block to Japan’s Cosmo
ADNOC has signed an exploration concession agreement, awarding the exploration rights for Abu Dhabi’s Offshore Block 4 to Japan’s Cosmo Energy.
HMM posts record operating profit in 2020
Despite the negative effects of COVID-19, South Korea’s national flagship carrier HMM closed 2020 with a significant earnings boost. The shipping company reported an operating profit of $831.1 million in 2020, against a loss of $254 million in 2019. The result recorded in 2020 represents HMM’s highe
MOL hits dust in North Sea well
Oil and gas company MOL Norge has drilled a dry well located at Mandal High in the southern North Sea offshore Norway.
Maersk ends year with record quarterly results, expects strong Q1 amid demand surge
A.P. Moller – Maersk, the world’s largest container carrier, has ended 2020 on a strong note despite the impact of COVID-19. The company’s underlying earnings before interest, tax, depreciation and amortisation (EBITDA) grew 44 pct. to $8.2bn and revenue grew to $39.7bn in 2020 compared to $38.9bn i
Tullow Oil offloads West African assets to Panoro
Tullow Oil has signed two separate sale and purchase agreements with Panoro Energy for its assets in Equatorial Guinea and the Dussafu asset in Gabon.
Apache names former BP deputy CEO as board member
Oil and gas company Apache Corporation has appointed a new member to the company’s board of directors.
Crowley and Watco working together for US offshore wind
Crowley and Watco are partnering to create a single-source terminal and supply chain management solution to support the U.S. offshore wind industry. The parties will collaborate to provide customized terminal design, project management, warehousing, logistics, supply chain management and equipment m
Sapura’s JV with Seadrill not impacted by Chapter 11 cases
Sapura Energy has clarified that its joint venture with Seadrill is not impacted by the recent Chapter 11 cases filed by several Seadrill subsidiaries.
Maersk sues Glencore over bad bunkers
Danish logistics giant Maersk has filed a lawsuit against commodity trader Glencore Ltd over contaminated bunker fuel supplied to two of its containerships. Based on the court documents filed on Friday, February 5, with the New York District Court, Maersk is seeking compensation worth $6 million for
Kentech to buy SNC-Lavalin’s oil and gas business in bid to address energy transition
Kentech has made a move to buy SNC-Lavalin’s oil and gas business in an effort to accelerate its growth strategy and address the energy transition.
Aker BP man to join OKEA as new CEO
Norwegian oil and gas company OKEA has appointed Svein J. Liknes as its new CEO, starting from June 2021.
Total sees profit dive, plans to change name in energy transition push
Total decided to change its name as part of its efforts to anchor its transformation into a broad energy company in line with energy transition
WindEurope: UK getting seabed leasing ‘badly wrong’
The UK’s recent Offshore Wind Round 4 seabed leasing represents a risk for raising costs of offshore wind due to the option fee that investors need to pay upfront for the right to develop projects, WindEurope said. In its latest leasing round, the UK introduced a new bidding system that makes invest