Business & Finance
Equinor begins public consultations for UK offshore wind extensions
Equinor has launched the community consultation period for the Sheringham Shoal and Dudgeon offshore wind extension projects off the North Norfolk coast in the UK. This first phase will run from 9 July to 20 August, and feedback is sought for the location of the onshore substation, the underground o
Moody’s: Global shipping outlook remains negative
The outlook for the global shipping sector for the coming 12 to 18 months remains negative, according to Moody’s new report. The key drivers of the negative outlook are a combination of expectations that the global economy will shrink in 2020 due to the impact of the pandemic and the road to recover
New management and investment boost for ROVOP
Aberdeen-based ROVOP has secured new multi-million-pound investment from its shareholders Blue Water Energy and BGF. The investment secures ROVOP’s long-term future and ensures the company can continue to provide its services. In addition to the investment, ROVOP has appointed a new senior managemen
Report: Petrobras to launch tender for Brazil’s largest-ever FPSO
Brazilian oil company Petrobras will be launching a tender for the construction of Brazil’s biggest floating production storage and offloading (FPSO) vessel.
Petrofac wins $135 million worth job in Kazakhstan
Petrofac has secured an engineering, procurement, construction, pre-commissioning, and commissioning contract in Kazakhstan worth approximately $135 million.
K Line takes stake in 2nd FPSO as it eyes business expansion with Yinson and Sumitomo
Japanese shipping company K Line has inked a deal with Malaysian energy major Yinson Holdings Berhad and Sumitomo Corporation to participate in the floating production, storage and offloading (FPSO) owning and chartering business for the Marlim II Project, offshore Rio de Janeiro, Brazil. Upon stabl
Japan’s spot LNG prices start to pick up
Japanese spot LNG cargo prices are showing signs of slight recovery following a record drop in May. The effects of the Covid-19 coronavirus pandemic have weighed down on Japan’s spot LNG prices pushing them to record lows in previous months. The average contract price for spot LNG cargoes shipped to
Vaalco Energy stock returns to compliance with NYSE standards
Houston-based oil and gas company Vaalco Energy has regained compliance with the NYSE continued listing standards following a listing warning from the end of April 2020.
New investors enter Acorn carbon capture and storage project
Pale Blue Dot, the lead developer of the Acorn Carbon Capture and Storage (CCS) project, has conducted a corporate restructuring following a strategic investment by multinational independent investment bank and financial services company Macquarie Group.
Equinor picks Aibel for work on Oseberg fields
Norwegian oil major Equinor has awarded Aibel a portfolio agreement for the Oseberg fields for the period 2020-2026.
World’s largest renewable energy corporate PPA signed for Taiwan’s offshore wind farm
Taiwan-based TSMC signed a corporate power purchase agreement (CPPA) with Ørsted for the Greater Changhua 2b & 4 offshore wind farm on 8 July. TSMC will offtake the full production from the 920 MW wind farm, making this the largest-ever contract of its kind within renewable energy, according to Ørst
Watch complex subsea operation of installing Dvalin Xmas trees
Wintershall Dea last December installed three Xmas trees on its Dvalin gas development, which has now moved from the drilling phase to the completion phase.
Rystad expects no new FPSO contracts in 2020 but sees quick rebound next year
Hit by the second industry downturn in five years, global awards for FPSO vessels will likely be limited to a single unit in 2020, Rystad Energy believes.
Poland increases capacity in updated draft offshore wind bill
The Polish government has published a revised draft offshore wind bill which would allow for 5.9 GW instead of 4.6 GW of capacity to be offered via Contracts for Difference (CfDs) by the end of June 2021. According to the Polish Wind Energy Association (PSEW), this 5.9 GW in the first phase of devel