Business & Finance
Chevron overtakes ExxonMobil’s market value for first time
Chevron’s market value overtook ExxonMobil for the first time on Wednesday, 7 October, during the same week in which it closed a $4.1 billion all-stock deal for Noble Energy.
Neptune Energy increases stake in Dugong discovery
Oil and gas exploration firm Neptune Energy has signed an agreement with Concedo for the acquisition of a further five per cent interest in the Dugong license in the Norwegian sector of the North Sea.
Naval Energies obtains double DNV GL certification
Naval Energies has secured double certification from DNV GL for its floater Design Basis, as well as for all of its major design methods. According to Naval Energies, obtaining this certification demonstrates that the calculation and design methods are applicable for its semi-submersible floater tec
Stolt-Nielsen CEO: Costly ship rerouting due to overdue crew changes impacting scheduling
Pricey rerouting of ships needed to carry out overdue crew changes, significantly hampered by the ongoing COVID-19 pandemic, continues to impact scheduling, Niels G. Stolt-Nielsen, Chief Executive Officer of Stolt-Nielsen Limited, said. Shipping companies have predominantly been left to their own de
Strike could shut down production on Equinor’s Johan Sverdrup
Norwegian oil major Equinor has warned that the Johan Sverdrup field in the North Sea would have to close production until further notice if the ongoing strike on the Norwegian Continental Shelf continues until 14 October.
McDermott ships first topside modules for MODEC FPSO
McDermott has made the first shipment of topside modules for a floating production storage and offloading (FPSO) unit for MODEC.
Ørsted holding Ocean Wind online meets
Ørsted is hosting three virtual open houses to update interested parties on the progress of its Ocean Wind offshore wind project in New Jersey. Attendees will listen to subject matter experts discuss specific aspects of the company’s plans to build the 1,100 MW offshore wind farm. The open houses wi
Proserv and Synaptec ink cable monitoring deal
Proserv and Synaptec have signed a strategic alliance agreement to develop an integrated cable monitoring system for offshore wind projects. Synaptec’s passive distributed electromechanical sensing (DES) technology will be incorporated within the monitoring solution. According to the companies, this
Simec Atlantis offers cue for action on UK’s tidal energy lead
Simec Atlantis Energy has welcomed the recent UK government’s commitment to green energy and offshore wind while also reminding of the country’s world leading position in tidal energy.
Equinor projects see delays, increased costs due to COVID, weak NOK
Norwegian energy major Equinor has seen its costs for projects under development rise due to the Covid-19 pandemic and weakened Norwegian krone, even postponing the start-up of some projects.
Frontline CEO Robert Macleod steps down
Robert Hvide Macleod, Chief Executive Officer of tanker major Frontline Management AS, has decided to step down from his position. Macleod is retiring after six years leading the company through often volatile market conditions. “I would like to thank Robert for his contribution to Frontline. He has
Total adds another floating wind project to its portfolio
Total has bought a 20 per cent stake in the EolMed floating wind pilot project in France, located in the Mediterranean Sea, off the coast of Gruissan and near Port-La-Nouvelle. The 30 MW EolMed will feature three MHI Vestas 10 MW turbines installed on Ideol’s Damping Pool floating foundation and is
InterMoor Australia scores contract hat-trick
InterMoor, an Acteon company, has secured work on three different mooring projects in the Australian region.
Lloyd’s Register Group sells its energy business
Lloyd’s Register Group (LR) has entered into a deal to sell its energy business unit to Inspirit Capital, a London-based investment firm. LR said the agreement follows a comprehensive review of LR’s business portfolio and strategic direction. As disclosed, the deal will create a new engineering and