Business & Finance
Helix Energy Solutions earnings drop in Q2
Houston-based offshore services and robotics specialist Helix Energy Solutions has reported profit of $5.5 million, or 4 cents per diluted share, for the second quarter of 2020 compared to $16.8 million profit for the same period in 2019. Sequentially, Helix swung back to black from $11.9 million lo
Watch Neptune install subsea equipment for two North Sea projects
Neptune Energy has successfully installed subsea oil and gas production flowlines and gas lift flowlines for its Duva & Gjøa P1 developments in the Norwegian sector of the North Sea.
Gaz-System starts FSRU terminal market interest
Polish gas grid operator Gaz-System has launched a non-binding Market Screening for new transmission capacities as well as new regasification capacities of planned FSRU LNG terminal.
China’s June LNG imports surge
China, the world’s largest energy consumer, boosted its imports of liquefied natural gas by 29.2 percent in June. LNG imports totalled 5.79 million tonnes last month, data from the General Administration of Customs showed on Thursday. In the January-June period, the country imported 31.18 million to
Rystad: Oilfield services market could replace lagging revenue by tapping into energy transition projects
Hit by the Covid-19 downturn, the oilfield service market is not likely to rebound to last year’s activity level until 2023, according to a Rystad Energy analysis.
Tellurian sells LNG cargo, plans to shrink Driftwood costs
US LNG export player Tellurian is considering changes to its $28.9 billion Driftwood project and has in the meantime sold a cargo of chilled fuel to an undisclosed buyer. The company has been hitting the media headlines this week as it reportedly renewed talks with India’s Petronet regarding an inve
Santos posts record Q2 production
Australian LNG player Santos reported record production levels in the second quarter of 2020.
Sea Machines raises $15 million to speed up development of self-piloting technologies
Boston-based Sea Machines Robotics has closed a new $15 million financing round with significant participation by Huntington Ingalls Industries.
OKEA restarts Draugen after nearly a month-long turnaround
Oil and gas company OKEA has successfully completed a turnaround on its operated Draugen platform located offshore Norway.
MOU signed for 3.5 GW offshore wind project in Vietnam
Copenhagen Infrastructure Partners (CIP) and Vietnamese companies Asiapetro and Novasia Energy have signed a Memorandum of Understanding (MOU) with Binh Thuan People’s Committee for the development of a 3.5 GW offshore wind project off the coast of the Binh Thuan province in Vietnam. The project, ca
Man Energy Solutions to axe almost 4,000 jobs as part of restructuring measures
Marine engine manufacturing giant MAN Energy Solutions is launching an extensive cost-cutting and restructuring program that will result in the layoff of almost 4,000 people, the company said. The program is being rolled out as MAN Energy Solutions readies for a prolonged period of stagnant sales as
The Poseidon Principles: Can they accelerate the transition to greener vessels?
Shipping is a capital-intensive industry. However, over the past few years, the availability of capital within the sector has shrunk considerably as western banks cut their exposure to the market after struggling with bad shipping loans. Too many regulations, especially those targeting environmental
Tellurian secures $32.5 million through share sale
US LNG export project developer, Tellurian has lined up a share sale that would rake in $32.5 million.
Red quarter for Polarcus as revenues sink
Marine seismic player Polarcus has slipped deeper into the red in Q2 2020 as revenues dropped close to 66 per cent compared to prior year. The Oslo-listed company reported second quarter 2020 loss of $20.7 million, versus loss of $0.6 million in Q2 2019. Polarcus generated quarterly revenues of $22.