Business & Finance
PetroRio buys stakes in two BP fields off Brazil
Brazilian oil and gas company PetroRio has signed an agreement with BP for the acquisition of interests in two fields offshore Brazil.
Gulf of Mexico lease sale attracts over $120 million in high bids
The U.S. government agency Bureau of Ocean Energy Management has held a Gulf of Mexico oil and gas lease sale, yielding more than $120 million in high bids.
New Jersey sets up regional planning process for offshore wind transmission
The New Jersey Board of Public Utilities (NJBPU) and regional electricity grid operator PJM Interconnection have agreed to commence a State Agreement Approach (SAA) solicitation for offshore wind transmission solutions. The commencement of the SAA includes New Jersey using the competitive solicitati
Force majeure notice served to India’s ONGC for Bumi FPSO
Bumi Armada has said that India’s ONGC has been served with a force majeure notice related to the charter hire of an FPSO.
Transocean adds $297 million to backlog as Petrobras extends two drillships
Transocean has been awarded contract extensions for two of its drillships that have been working for Petrobras.
DeepOcean to wind down cable laying and trenching units in UK
Subsea services player DeepOcean has started a restructuring process in relation to three UK subsidiaries in its Cable Laying and Trenching business (“CL&T Group”), which will enable the CL&T Group to be wound down on a solvent basis. DeepOcean 1 UK, DeepOcean Subsea Cables and Enshore Subsea have f
Norway: Oil firms ramp up 2021 investment plans
A survey by the Norwegian statistics bureau SSB has revealed that oil and gas companies in Norway have boosted investment plans in recent months.
McDermott gets fresh capital injection to fund growth
McDermott has secured approximately $560 million in new capital through a series of transactions expected to close by the end of the year.
BIMCO: Sale of 25-year-old VLCC ends 512 days demolition drought
The sale of an almost 25-year-old crude oil tanker marks the end of the 4th longest streak of zero VLCC demolitions in history, lasting 512 days, BIMCO said. The 300,500 dwt VLCC named Sam (formerly Zoya 1) experienced a fire while undergoing maintenance in January this year. As Offshore Energy – Gr
Ørsted and US labor union kick-start offshore wind workforce transition
Ørsted and North America’s Building Trades Unions (NABTU) have signed a Memorandum of Understanding (MoU) to develop the next generation offshore wind workforce in the U.S. The partnership will create a national agreement designed to transition U.S. union construction workers into the offshore wind
Hyundai Mipo reveals contract termination for PCTC quartet
South Korean shipbuilder Hyundai Mipo Dockyard has terminated a contract for four pure car truck carriers (PCTC) worth $155 million (KRW 171.8 billion). The contract for the 7,500-ceu car carriers with an unnamed Marshall Islands-based company had been signed in 2015. In 2016, the shipowner inked a
Ithaca moves forward with plans to develop North Sea field as subsea tie-back
Ithaca Energy is moving forward with its plans to develop the Abigail field, located in the UK North Sea as a subsea tie-back.
Ideol and Scottish port pen floating wind agreement
The France-headquartered Ideol has signed a Letter of Intent (LoI) with the Port of Cromarty Firth in Scotland to cooperate for the floating offshore wind sector. The agreement will see Ideol and its future local construction partners use the port’s land and firth berthing sites and cooperate toward
Maersk delivers strong Q3 result, raises 2020 guidance
Danish container shipping major A.P. Moller – Maersk managed to grow earnings and cash flow in the third quarter of this year, despite the negative effect on global economies of the COVID-19 pandemic.