Business & Finance
Aker Solutions remains positive despite loss
Aker Solutions has seen red in the second-quarter 2020, as revenue dropped some 29 per cent and restructuring charges affected the company’s bottom line. The Norwegian services player booked Q2 2020 loss of NOK 171 million, against loss of NOK 11 million in the prior-year comparable period. This cam
Keppel lands new FPSO contracts with MODEC
Keppel Offshore & Marine (Keppel O&M) has through its subsidiaries in Singapore and Brazil has secured two contracts worth a combined value of about S$73 million ($52.4Mn) from MODEC.
Carbon Trust forecasts 70 GW of floating wind by 2040
The Carbon Trust sees 70 GW of floating wind installed capacity by 2040, according to a new summary report on the findings from the second phase of the Floating Wind Joint Industry Project (JIP). The report outlines technology challenges that need to be addressed in order so the commercialisation of
Origin flags up to $868.3 mln impairment charge
Australia’s power and gas retailer Origin Energy is expecting to take a $812.2 to $868.3 million hit in its full-year 2020 results.
Petrobras halves the cost of post-salt well construction
Brazilian oil and gas company Petrobras has managed to halve the costs of the post-salt well construction at its Golfinho field offshore Brazil.
Norwegian ship recycling major takes over Kleven Verft
Norway’s ship recycling firm Green Yard has taken over compatriot Kleven Verft, which filed for bankruptcy early this month after losing a loan deal. A Kleven spokesperson confirmed to Offshore Energy-Green Marine that the takeover agreement has been reached with the bankruptcy estate and the banks
Woodside takes $4.3 bln impairment hit
Australian LNG major Woodside is bracing for a $4.37 billion impairments hit following an asset value review.
Precious Shipping settles dispute with Sainty Marine
Thailand-listed dry cargo ship owner Precious Shipping has reached a settlement with Chinese Jiangsu Guoxin Corporation, formerly known as shipbuilder Sainty Marine Corporation, in relation to the shipbuilding contracts for eleven 64,000 dwt bulkers. The duo launched arbitration proceedings back in
Record output lifts Aker BP profit
Aker BP booked a higher profit in 2Q 2020 on the back of record-high production despite lower income impacted by low oil prices and the coronavirus pandemic.
Russia’s Gazprom hit hard in first quarter
Russian gas giant Gazprom posted a net loss in the first quarter of this year mainly due to lower prices and demand in Europe, and a weak rouble. Gazprom reported a net loss of 116.2 billion Russian roubles ($1.6 billion) in the January-March period. This compares to a profit of 535.9 billion rouble
Head Energy wins Brage extension with Wintershall Dea
Head Energy has been awarded an extension of a frame agreement with Wintershall Dea concerning modifications at the Brage platform offshore Norway.
Global Maritime, Cathie team up for jack-up ops
Global Maritime and Cathie have entered a partnership that will see the two companies bringing a holistic jack-up consultancy solution to the offshore wind industry, according to a press release from Cathie. The two companies will combine their expertise in offshore geoscience and engineering consul
Mubadala boosts output capacity at Manora field
Mubadala Petroleum has increased the production capacity on the Manora oil field in the Gulf of Thailand following the completion of the 2020 development drilling and workover program.
Kogas, partners to form Korean LNG bunkering JV
South Korea’s Kogas and five compatriots are joining forces to set up a LNG bunkering joint venture in the country. The other Korean companies are Busan Port Corp, steel-maker Posco, refiner S-Oil, Daewoo Logistics, and shipper Hyundai Glovis. The partners signed a collaboration deal on Tuesday and