Business & Finance
German offshore wind to hydrogen project takes off
Ørsted and its partners have secured funding for the Westküste 100 renewable hydrogen project in Germany. The partners received funding confirmation from the German Federal Ministry of Economic Affairs and Energy as the first large-scale hydrogen project in Germany within the Reallabor (real-world l
Fugro adds new member to Supervisory Board
Fugro has nominated Sjoerd Vollebregt as member of the Supervisory Board for a term which will end with the annual general meeting in 2024. The appointment of Vollebregt will allow for proper succession as Douglas Wall who wants to retire at the end of the annual general meeting in 2021. Sjoerd Voll
MPS sets new crowdfunding goal after raising £1.5 million
Swansea-based Marine Power Systems (MPS) has hit a £1.5 million crowdfunding target in just two weeks since its launch and is now over-funding. The campaign, set up at the London-based equity crowdfunding platform Seedrs, now has a goal of reaching £2 million. Specifically, these funds should suppor
EnQuest to operate Bressay field as Equinor halves interest
Equinor has agreed to sell a 40.8125 per cent interest in and transfer operatorship of the Bressay oil field development on the UK continental shelf to EnQuest.
Red ink for ConocoPhillips on lower oil prices and volumes
ConocoPhillips recorded a $1 billion loss in the second quarter of this year due to lower oil prices and production curtailments amid COVID-19 impact.
Floatel to book nearly $400 million in impairment charges
Floatel International will book impairments of nearly $400 million for the second quarter of the year due to impairments of its vessels made amid challenging market situation.
Green light for Equinor to use Maersk rig on Martin Linge field
Norwegian oil major Equinor has received safety consent from the country’s offshore safety watchdog to use the Maersk Intrepid jack-up rig on the Martin Linge field offshore Norway.
Equinor comes up dry in Barents Sea well
Equinor has drilled a dry well near the Johan Castberg field in the Barents Sea offshore Norway.
UK boasts improved production efficiency for seven years in a row
Production efficiency on the UK Continental Shelf has improved for the seventh consecutive year and for 2019 reached 80 per cent.
Hohe See and Albatros come through for EnBW
German energy company EnBW’s Renewable Energies segment more than doubled its operating result in the first six months of 2020, mainly due to the Hohe See and Albatros offshore wind farms coming into operation. The company’s renewables segment reported an operating result (adjusted EBITDA) of € 426
Petrobras renews Vallourec contract for provision of tubes and services
Tubular solutions provider Vallourec has been awarded an extension of its contracts to supply products and services to Brazil’s oil and gas giant Petrobras.
EPI and Offshore Power set up US offshore wind co-op
Energy consultancy EPI Group has signed a Memorandum of Understanding (MoU) with Offshore Power LLC to collaborate in the U.S. offshore wind sector. Under the agreement, the companies plan to combine resources in business development, marketing and delivering their services to the U.S. market. EPI s
Sound Energy garners cash to pursue Moroccan LNG project
The UK-based Sound Energy has issued 129.4 million shares aiming to raise £2.75 million ($3.56 million) as it pushes forward with its Moroccan LNG project.
Forbes: Carnival Corp one of America’s best employers for women
Carnival Corporation & plc, the world’s largest cruise company, has been named one of America’s Best Employers for Women in 2020 by Forbes, a renowned U.S.-based business magazine. In Forbes’ annual survey, Carnival Corporation was ranked the No. 9 employer in the travel and leisure industry, and wa