Business & Finance
Rystad expects 2021 to bring largest crude deficits in years
The Covid-19 pandemic has devastated crude and condensate demand, creating massive supply surpluses and filling up inventories, according to Rystad.
Woodside wraps up Senegal deal with Cairn
Woodside Energy has completed the acquisition of Cairn’s entire participating interest in the Senegal offshore joint venture.
ONE reveals LoI to charter six 24,000+TEU newbuild behemoths
Ocean Network Express (ONE) has signed a Letter of Intent (LoI) with Shoei Kisen Kaisha, the shipowning arm of Japanese yard Imabari Shipbuilding, for the 15-year long-term charter of six new 24,000 + TEU Ultra Large Container Ships (ULCS). The new buildings are planned to be built by the consortium
U.S. offshore rig count goes up a notch
The number of offshore rigs in the U.S. increased by one unit over this week, according to a weekly rig count by Baker Hughes.
India told to pay Cairn $1.2 billion in tax arbitration case
The Indian government has been ordered to pay oil and gas company Cairn Energy $1.2 billion following an arbitration award in a tax dispute case.
Nord Stream 2 to start laying pipes in Danish waters in January
Russia’s Nord Stream 2 gas project is expected to start laying pipes for the gas pipeline in Danish waters in January 2021.
Hapag-Lloyd orders six LNG-powered 23,500+ TEU ULCVs in $1 billion deal
German liner giant Hapag-Lloyd has ordered six ultra-large container vessels from Korean shipyard Daewoo Shipbuilding & Marine Engineering (DSME). The $ 1 billion investment will see the LNG-powered 23,500+ TEU vessels delivered to Hapag-Lloyd between April and December 2023. The vessels will be fit
Heerema’s Thialf removes Sable facilities for ExxonMobil
Heerema’s Thialf vessel completed the eight-month-long campaign to remove the Sable Project’s offshore facilities on behalf of ExxonMobil in Canada.
Eni enters new alliance to work on key sectors of energy transition
Italian oil and gas company Eni, CDP, and Snam have signed a Letter of Intent to start a strategic collaboration for the energy transition.
Epic Gas, Lauritzen create LPG giant
LPG shipping heavyweight Epic Gas, and Lauritzen Kosan A/S, the gas carrier division of J. Lauritzen, have entered into a deal to combine their fleet and business activities to create BW Epic Kosan. The combination will create a genuine powerhouse in the last mile delivery of LPG and other specialit
MODEC develops new offshore repair method for FPSO hulls
MODEC in December 2020 obtained approval by ABS for the new offshore repair method for hull structures of FPSOs as an original standard repair method.
SBM Offshore inks FPSO extension with Shell in Brazil, eyes more in Guyana
SBM Offshore has been awarded a lease extension from Shell for an FPSO in Brazil and expects another lease duration extension from ExxonMobil in Guyana.
Port of Rotterdam looking into potential of new trade corridors for hydrogen
The Port of Rotterdam, Europe’s leading trading hub, has become part of a feasibility study named HySupply to explore what role could the port play in the possible creation of a new trade corridor for hydrogen. The project is led by Germany, which is investing heavily in hydrogen, and it is focusing
Pacific Drilling to emerge from bankruptcy by year-end
Pacific Drilling expects to emerge from Chapter 11 bankruptcy by year-end following the confirmation of its prearranged plan of reorganization.