Business & Finance
Will Chevron’s Noble Energy swoop trigger a wave of M&A deals in oil & gas sector?
What will happen next in the upstream M&A and what direction will it take? Is now the time to go on the first buying spree after the COVID-19 outbreak and get the high-value goods at a bargain price? Chevron might agree.
Petróleo Nautipa FPSO off Gabon to stay with Vaalco for another year
BW Offshore has received a one-year contract extension for the lease of one of its floating, production storage and offloading (FPSO) vessels.
Cooper Energy and Mitsui commit $55M for Minerva gas plant upgrade
Australia’s Cooper Energy and partner Mitsui Group have committed $55 million to upgrade the idle Minerva gas plant which will allow the supply of 16 petajoules of so far undeveloped gas.
ENGIE and EDPR hear the call of Ocean Winds
ENGIE and EDP Renováveis have announced the creation of Ocean Winds (OW), a joint venture equally controlled by both companies in the floating and fixed offshore wind energy sector. Headquartered in Madrid, Spain, the new company will act as the exclusive investment vehicle in offshore wind for both
Vattenfall reports lower Q2 wind figures, announces resignation of CEO
Vattenfall’s results for the second quarter of the year show a decrease in net sales and underlying operating profit of its wind business, compered to the same period in 2019. The company posted the Q2 results on 21 July, stating that the decrease is due to lower wind speeds, lower electricity price
Wilhelmsen Ship Management takes 50% stake in Ahrenkiel Steamship
Singapore-based ship manager Wilhelmsen Ship Management has acquired 50% stake Ahrenkiel Steamship, a subsidiary of Hamburg-based asset and investment manager MPC Capital AG. The joint venture will operate under the brand Wilhelmsen Ahrenkiel Ship Management in Hamburg and Rhoon, while supported by
Bahri posts highest Q2 results in its history
Bahri, the world’s largest owner and operator of very large crude oil carriers (VLCCs), recorded a surge of 1,569% in its net profit for the second quarter of 2020, reaching SAR 760.61 million ($ 202.7 million). Total revenue came in at SAR 3.53 billion, up 145% from SAR 1.44 billion recorded in the
Claxton pens master service deal with Aker BP
Claxton, an engineering and services company in subsea services group Acteon, has signed a master service agreement (MSA) with Aker BP.
GIEK’s offshore wind portfolio quadruples in H1 2020
The offshore wind portfolio of the Norwegian Export Credit Guarantee Agency (GIEK) has quadrupled since the end of last year, the agency reported on 21 July. GIEK’s offshore wind portfolio since the end of 2019 until now amounts to NOK 4.2 billion (approximately EUR 399 million), while the state-own
Lower oil prices hamper Oil Search Q2 revenue
The Papua New Guinea-focused oil and gas producer and PNG LNG stakeholder, Oil Search reported a drop in revenue due to lower oil prices.
Posidonia 2020 canceled amid COVID-19 concerns
Organizers of one of the biggest shipping events in the world, Posidonia 2020, have announced that the event, set to take place in October this year in Athens had to be canceled. The bi-annual trade show had been scheduled for June 2020, however, due to the pandemic, it got rescheduled for October.
Santos to take up to $560 million impairment hit
Australian gas producer and GLNG operator Santos said on Tuesday it will book non-cash impairments of up to $560 million after tax due to the effects of the Covid-19 coronavirus pandemic. Santos expects to record non-cash charge in the range of $490-560 million after tax in its half-year results nex
EU supports 19 green maritime projects
The European Union is supporting Member States’ shift to greener fuels for transport with new funding commitments.
Halliburton drops to $1.7 billion loss in second quarter
Giant oilfield services provider Halliburton has recorded a $1.7 billion loss in the second quarter, which the firm attributed to $2.1 billion in impairments.