Business & Finance
Italy & France pull the plug on Fincantieri’s takeover of Chantiers de l’Atlantique
The planned mega-merger between Italian shipbuilding major Fincantieri with its French counterpart Chantiers de l’Atlantique has fallen through. The decision has been made public in a joint statement by the French and Italian ministries of economies citing the impact of the COVID-19 pandemic on the
UK floating wind could be subsidy-free by 2030
According to a new study from Offshore Renewable Energy (ORE) Catapult, large floating wind projects in the UK could secure Contracts for Difference (CfD) strike prices below current wholesale electricity price forecasts in 2029. Reaching the point of having “subsidy-free” floating wind projects dep
Keppel and Borr agree on another rig delivery delay
Offshore rig builder Keppel and rig owner Borr Drilling have agreed a further delay for the delivery of five jack-up rigs that Keppel is building for Borr.
Lundin to increase output, accelerate decarbonisation strategy
Swedish oil company Lundin Energy has announced it would be increasing its output in 2021 as well as accelerating its decarbonisation strategy.
Panama Canal cut 13 million tons of CO2 in 2020
The Panama Canal contributed to a reduction of more than 13 million tons of carbon dioxide (CO2) equivalent emissions in 2020 by offering a shorter route to ships when compared to the most likely alternative routes. These savings are equivalent to the greenhouse gas emissions of 2.8 million passenge
Keppel to exit offshore rig building to position for energy transition
Keppel Corporation has revealed that its struggling Keppel Offshore & Marine unit will exit the offshore rig building business.
Vaalco hedges part of production to support drilling program
Vaalco Energy is hedging a portion of its production to protect cash flows, which will be used for its fresh drilling program this year and the next.
DeepOcean winds down UK cable lay and trenching units
Subsea services player DeepOcean has completed the restructuring and wind down of its UK cable lay and trenching business. The restructuring process, which started in November last year, involved DeepOcean 1 UK, DeepOcean Subsea Cables and Enshore Subsea. Deepocean said that through the completion o
OWC adds new offshore wind offering
Offshore Wind Consultants (OWC) has set up its own energy yield assessment service capability for offshore wind projects. As part of the move, OWC appointed Okan Sargin to head up the new integrated service offering for offshore wind developers. The team led by Sargin will support clients with early
Petrofac wins five-year deal in North Sea with INEOS
Oilfield services provider Petrofac has secured an enhanced, five-year contract in the UK sector of the North Sea with INEOS FPS.
OneH2 forms a hydrogen fuel solutions investor group
OneH2, a USA provider of hydrogen fuel supply and logistics solutions, has recently added strategic partners to its investor group.
Lenders take over Polarcus assets
Following loan default, Polarcus’ lenders have taken control of its vessels and shipholding unit. On Tuesday this week, Marine seismic player said it had defaulted on debt payments and that it will halt all interest and installment payments to finance providers. That same day, the company’s shares f
Neptune kicks off North Sea drilling campaign
Oil and gas company Neptune Energy and its joint venture partners BP and JAPEX, have started drilling on the Seagull project in the UK Central North Sea.
Marathon Oil sets new greenhouse gas emissions target
Houston-based oil and gas company Marathon Oil has been able to reduce its greenhouse gas (GHG) emissions intensity in 2020 when compared to the previous year.