Business & Finance
InfraVia buys small-scale LNG player Molgas
French private equity firm InfraVia Capital Partners has acquired European small-scale LNG player Molgas Energy. The equity company completed the acquisition via its InfraVia European Fund IV, it said on Tuesday without revealing the financial details of the transaction. However, law firm Ashurst sa
Global Petroleum to focus on principal prospects after getting licence extension in Namibia
The Ministry of Mines and Energy in Namibia has agreed to extend Global Petroleum’s licence sub-period in connection with a licence offshore Namibia.
Aker Solutions gets five-year contract renewal on Hebron
Aker Solutions has secured a five-year contract extension from ExxonMobil for the provision of EPC services for the Hebron platform, offshore Newfoundland.
Schlumberger cuts 21,000 jobs after ‘the most challenging quarter in past decades’
Giant oilfield services provider Schlumberger is cutting around 21,000 jobs as a response to one of the most challenging quarters in over a decade.
UK mid-2020s offshore wind farms could be first to run with ‘negative subsidies’ and lower consumer bills
The offshore wind farms that won the Contracts for Difference (CfDs) in the latest UK CfD round will most likely be the first to operate with “negative subsidies”, even before the zero-subsidy projects awarded in auctions in the Netherlands and Germany. According to an analysis by an international t
Precious Shipping: Dry bulkers won’t be able to use wind power in a meaningful way
Wind-assisted ship propulsion has immense potential for achieving fuel savings and cutting emissions in line with the IMO’s decarbonization strategy for shipping. Numerous solutions are being commercialized with others undergoing final stages of testing to prove their efficiency. These types of solu
Rystad sees supply glut ahead after second wave of Covid-19 and more OPEC oil hit the market
The upcoming partial return of curtailed OPEC+ oil production from August is set to create a new four-month supply glut of around 170 million barrels, a Rystad Energy analysis reveals.
Total delivers 1st LNG cargo to China’s Guangdong Energy
France-based Total said Tuesday it has delivered its first LNG cargo to Chinese state-owned utility Guangdong Energy at Cnooc’s Zhuhai import terminal in Guangdong. Guangdong Energy is the largest power generation company in the southern Chinese province, with more than 32 GW installed. “We are full
Enagas logs profit hike as LNG business grows
Spanish LNG terminal operator Enagas reported a 9.4 percent profit rise in the first half as its regasification plants continued to operate as usual during the Covid-19 pandemic. The company said profit after tax in the January-June period increased to 236.3 million euros ($276.9 million). This comp
Eni boasts successful production test at Mediterranean Sea well
Eni has successfully tested the well drilled on the prospect called Bashrush, in the North El Hammad concession in the Mediterranean Sea, in the conventional Egyptian waters of the Nile Delta.
£100 million growth deal to support energy transition of Scottish islands
The leaders of the three Scottish island councils recently welcomed the Scottish and UK governments’ award of £100 million in funding as part of the Islands Growth Deal. The money goes to Orkney, Shetland and the Western Isles. The multimillion pound deal will provide investment for local projects a
Xodus strikes up Japanese offshore wind partnership
Xodus Group has established a partnership with Japanese consultancy E&E Solutions to deliver advice and analysis for the offshore wind market in Japan. The partnership will provide integrated advisory and technical services for offshore wind developers, owners, operators and lenders. Xodus expects t
GMS wraps up intervention job on live well using cantilever workover
GMS has completed its first well intervention workscope using the company’s cantilever workover system, installed on the self-propelled vessel GMS Evolution.
Yara Marine: We had high hopes for scrubbers in 2020, but Covid-19 changed all that
Driven by the impending IMO 2020 sulphur cap, the scrubber market was in the middle of a historic boom in 2019, with strong prospects expected in 2020. However, the coronavirus pandemic changed everything for many industries, including the exhaust gas cleaning segment. “The coronavirus turned our wo