Business & Finance
Oil price hits highest levels since March over vaccine hopes
Brent crude oil prices reached highest levels since March as news of another promising coronavirus vaccine raised hopes of a quicker recovery in oil demand, while U.S. President-elect Joe Biden received the go-ahead to begin his leadership transition.
Fincantieri to help develop a repair yard in Yucatán State, Mexico
Italian shipbuilding heavyweight Fincantieri has signed a letter of intent (LoI) with the Ministry of Economic Development and Labour of the Yucatán State (Mexico) to design and construct a new ship repair yard. Under the agreement, Fincantieri will be granted a 40-year concession for the exclusive
Aker BP deploys robotic dog on North Sea FPSO
Aker BP and Cognite have partnered to deploy Spot, the quadruped robotic dog, to pioneer the remote-controlled offshore mission on the Skarv installation.
Saipem hired for FEED services on Ichthys LNG
Saipem has confirmed a contract award to conduct booster compression module FEED services for the Inpex-operated Ichthys LNG development in Australia.
US boosts 11 hydrokinetic projects with $35 million in research funds
The U.S. Department of Energy (DOE) has awarded $35 million for 11 projects which seek to develop new economically competitive hydrokinetic turbine designs for tidal and riverine currents.
GTT fined €9.5 mln by South Korea’s FTC
French LNG containment specialist GTT has been fined €9.5 million ($11.3 million) by the South Korean Fair Trade Commission (FTC).
Tokyo Gas joins Chiba Offshore Wind joint venture
Tokyo Gas has joined the offshore wind joint venture established by Northland Power and Shizen Energy in 2019 and will become a shareholder in the project company Chiba Offshore Wind (COW). COW is developing offshore wind projects off the Pacific Ocean coastline of Chiba Prefecture in Japan. Now, wi
KrisEnergy unit dodges winding-up petition after settlement with Rubicon
Singapore’s independent oil and gas company KrisEnergy and floater provider Rubicon Offshore have settled a contractual dispute that would save the Kris Energy’s Thai subsidiary from being wound up.
OSG nets $49.1 million loan
NYSE-listed tanker owner and operator Overseas Shipholding Group has closed a $49.1 million loan to finance a newbuild oil and chemical ATB barge. OSG’s subsidiaries, OSG 205 LLC and OSG Courageous II LLC, will use the loan to refinance the tug to which the barge is being paired, the OSG Courageous.
Apache employs Rem PSVs in North Sea
Rem Offshore has been awarded a contract and extension for its platform supply vessels from Apache in the UK North Sea.
Tompkins stepping down as Modus CEO
Subsea services player Modus Seabed Intervention said that Jake Tompkins is resigning from his role as CEO of the company. Tompkins is stepping down in order to pursue independent business interests, fulfilling a long-held ambition, the company said in a statement. He will continue in an advisory ca
Tullow plans to generate $7 billion cash flow over 10 years with focus on West African assets
Tullow Oil will focus on its West African producing portfolio as part of its new strategy to generate $7B of operating cash flow in the next 10 years.
Uniper Energy DMCC, Neutral Fuels to offer maritime biofuel in Fujairah
Uniper Energy DMCC (UED), a supplier of very low sulphur fuel oil (VLSFO), and Neutral Fuels, a pioneer of net zero biofuels in the UAE, have teamed up to provide maritime biofuel in Fujairah, UAE. The two companies plan to blend UED’s VLSFO and Neutral Fuels biofuel, creating a maritime fuel that m
RHC: Europe could commercialise green hydrogen faster than current strategies suggest
WindEurope and SolarPower Europe, supported by Breakthrough Energy, have launched a new coalition that is said to give voice to businesses and thought leaders who will be decisive in positioning Europe as the world leader in renewable hydrogen, produced via electrolysis and 100 per cent powered by r