Business & Finance
Tiedemann: New wave of containership orders likely
The outbreak of the Coronavirus pandemic has basically put a brake on investments in the shipbuilding sector, especially on the container shipping side, as many owners shelved their newbuilding plans for better days. Instead of plotting fleet expansion plans, liner companies have had to save liquidi
Woodside buys Cairn’s Sangomar stake
Australian energy company Woodside has entered into a binding sale and purchase agreement to acquire Cairn’s entire participating interest in the Rufisque Offshore, Sangomar Offshore and Sangomar Deep Offshore (RSSD) joint venture.
AGS inks Utsira data licensing deal
Axxis Geo Solutions (AGS) has entered into a data licensing agreement with an undisclosed international oil company. The late sale is related to the company’s OBN seismic data library over Utsira in Norway. The Utsira OBN seismic data library is now in its final stage of data processing. Processing
Petronas drops to loss as LNG sales slip
Malaysian energy giant Petronas dropped to a loss in the first six months of the year.
Dynagas LNG Partners posts Q2 profit rise
Greece-based Dynagas LNG Partners, a partnership formed by shipowner Dynagas, reported a rise in its second-quarter profit.
ARO Drilling names new chief executive officer
ARO Drilling, a Saudi-focused offshore drilling joint venture between oil and gas giant Saudi Aramco and Valaris, has named a new chief executive officer (CEO) of the company.
MHI Vestas turbines to power Apple in Denmark
Tech giant Apple will invest in the construction of two MHI Vestas 8.4 MW offshore wind turbines which will be installed onshore near the town of Esbjerg in Denmark. The 200-metre-tall turbines are expected to produce 62 gigawatt-hours of electricity each year. The power produced at Esbjerg will sup
OPEC postpones Diamond Anniversary in Baghdad
The festivities scheduled for OPEC’s 60th Anniversary, originally scheduled for later this month in Baghdad where the organization was founded, have been postponed.
Ideol sets up partnership for floating wind mooring solutions
Ideol and Bridon-Bekaert Ropes Group (BBRG) have entered a strategic partnership to develop a new synthetic mooring solution for the floating offshore wind market. According to the parties, the goal is to meet the floating offshore wind market’s cost reduction, capacity and lead-time expectations. “
DP World-CDPQ platform secures funds for new terminal investments
Dubai-based port and terminal operator DP World and Canada’s insitutional investor Caisse de dépôt et placement du Québec (CDPQ) have announced the expansion of their ports and terminals investment platform through a new commitment of $4.5 billion.
SapuraOMV’s Malaysian gas development now on stream
SapuraOMV Upstream has started production from its operated Bakong gas field project under the SK408 Production Sharing Contract in Malaysia.
Tallink Grupp’s reorganization to affect 2,500 workers
Estonian ferry company AS Tallink Grupp has launched a reorganization process that will impact up to 2,500 employees in all the company’s home markets combined. The reorganization is being announced as Tallink battles with a major drop in revenues from the tourism industry massively impacted by the
Shell keeps Prosafe rig but defers Shearwater job for 2021
Prosafe and oil major Shell have agreed to defer and amend the contract for the Safe Zephyrus to provide accommodation services in support of the Shearwater platform turnaround in the UK North Sea.
Wintershall Dea cheers fresh Nova milestone with most of subsea hardware now in place
Wintershall Dea has completed another milestone for its operated Nova project, located offshore Norway, following the installation of the risers on the North Sea field.