Business & Finance
Gallery: BP’s giant Argos platform heads to Texas
BP’s giant Argos floating production unit, built for the Mad Dog 2 project by Samsung Heavy, last week sailed away from a South Korean yard to Texas.
PetroRio closes Frade field stake buy from Petrobras
Brazilian oil and gas company PetroRio has completed the acquisition of the 30 per cent interest in Frade field from compatriot state-owned company Petrobras.
NYK pens $50 million sustainability-linked loan
Japanese shipping major NYK has signed a sustainability-linked loan agreement worth $50 million with the compatriot Shiga Bank. This is the first sustainability linked loan contract denominated in a foreign currency to be inked in Japan, and the second one for NYK following the signing of a yen-deno
Amazon buys more offshore wind power
Amazon has signed an agreement with Shell Energy Europe to offtake renewable power from the subsidy-free Hollandse Kust Noord offshore wind farm being constructed in the Netherlands. Starting in 2024, Amazon will offtake a total of 380 MW from the wind farm, 250 MW from Shell and 130 MW from Eneco.
Nakilat post record profit in 2020
Qatar’s Nakilat, the world’s largest LNG shipper, reported its highest profit since inception.
BPC finds oil in Bahamas well but no commercial volumes
Bahamas Petroleum Company has encountered hydrocarbons at its Perseverance #1 well off The Bahamas, but the volumes of oil encountered are not commercial.
Seadrill files Chapter 11 for Asia Offshore Drilling
Offshore drilling contractor Seadrill Limited has been forced to file Chapter 11 cases for several of its wholly-owned subsidiaries in Asia.
Maersk drillship lands new gig in South Korea
Maersk Drilling has secured a contract from Korea National Oil Corporation (KNOC) for the drillship Maersk Viking to drill offshore South Korea.
Ithaca restarts North Sea unit after Covid-19 shutdown
Ithaca Energy has restarted production at its FPF-1 unit located off the UK following a recent shutdown due to an outbreak of Covid-19 on the unit.
Equinor man joins Oil & Gas UK board as co-chair
Oil & Gas UK has announced the appointment of a new co-chair to its board, as the sector focuses on the industry’s recovery whilst meeting net-zero targets.
Creditors green light Pacific International Lines’ restructuring
Pacific International Lines has filed an application to the Singapore High Court to seek approval for the company’s proposed restructuring plan. Under the plan, Singapore’s container shipping major is vying for fresh financing from Heliconia Capital Management Pte, an investment firm owned by Temase
Energy Drilling to manage three tender rigs for Seadrill
Energy Drilling Management has entered into a management agreement with Seadrill Partners to maintain, market and operate three of its tender rigs.
Regulator takes action against Woodside over riser turret mooring decommissioning
Australian offshore petroleum regulator NOPSEMA has taken action against Woodside related to decommissioning of the Enfield field and Nganhurra FPSO.
Iberdrola adds three Irish projects as its offshore wind pipeline tops 30 GW
Iberdrola has agreed to take a majority stake in DP Energy’s 3 GW offshore wind pipeline in Ireland, marking the Spanish energy company’s entry into the Irish offshore wind market. The projects are located in three clusters on the east, west, and south coasts of Ireland, of which some will be eligib