Business & Finance
Renergen, Total ink South Africa LNG pact
South Africa’s Renergen signed a deal with a unit of French energy giant Total to market and distribute LNG in the southernmost country on the African continent. The natural gas and helium producer is building the country’s first LNG plant as part of its Victoria gas project. The project will develo
ROVQUIP and RTS enter partnership deal
ROVQUIP has signed a partnership deal with Norway-based rental specialist RTS. ROVQUIP, based just outside Aberdeen, in Scotland, will provide tooling packages, configurable skids and manipulators to support RTS in the Norwegian market. In addition, training and test procedures will be provided to m
Maersk expects Q2 earnings to beat Q1 amid favorable demand
Danish shipping major A.P. Møller – Mærsk A/S revealed that it expects an EBITDA before restructuring and integration costs for Q2 2020 slightly above the level for Q1 2020 (USD 1.5bn). The forecast is being upgraded based as demand starts to pick up better than expected, combined with cost measures
Siemens Gamesa reveals new CEO as Tacke steps down
Markus Tacke is stepping down as CEO of Siemens Gamesa, effective immediately. According to the company, the Board of Directors and Tacke mutually agreed to terminate the CEO contract. Andreas Nauen, who was head the company’s offshore activities, has been appointed the new chief with immediate effe
Neptune Energy set to spud Dugong well in North Sea
Neptune Energy will start drilling the Dugong well, located in the North Sea offshore Norway, by 19 June 2020.
ACCC: Wallenius Wilhelmsen pleads guilty to criminal cartel conduct
Norwegian-based global shipping company Wallenius Wilhelmsen Ocean AS (WWO) has today entered a guilty plea in the Federal Court to criminal cartel conduct, Australian Competition & Consumer Commission (ACCC) said. The company was charged with cartel conduct in August 2019 regarding the transportati
Williams to provide tie back for LLOG’s Gulf of Mexico project
Williams has reached a tie-back agreement with LLOG Exploration Offshore (LLOG) to provide offshore natural gas and oil gathering and production handling services for the Taggart development at Williams’ Devils Tower spar in the U.S. Gulf of Mexico.
Container shipping: Defying the odds during the pandemic?
The massive consolidation drive in the container shipping market that dominated the narrative over the past four years seems to have brought about unexpected benefits during the coronavirus crisis. The driving force behind the phenomenon has been primarily achieving economies of scale, especially co
Equinor gets drilling permit for two North Sea wells
The Norwegian Petroleum Directorate has granted Equinor a drilling permit for two wells located in the North Sea off Norway.
CIP making € 5.5 billion renewable energy infrastructure investment fund
Copenhagen Infrastructure Partners (CIP) has reached a first close on Copenhagen Infrastructure IV (CI IV) investment fund with EUR 1.5 billion. The fund, planned to be worth EUR 5.5. billion, will become the largest one within renewable energy infrastructure investments, according to the investment
SSE rolls out £7 billion green investment plan
SSE plc is planning to invest more than £7 billion over the next five years in major low-carbon construction projects to support the net-zero target and spur a green economic recovery. The plan will see SSE invest almost GBP 4 million every day for the next five years on projects, including the GBP
Aker BP picks PG Flow pump systems for new Hod platform
Norwegian oil and gas company Aker BP has awarded PG Flow Solutions a contract to supply several pump systems for the normally unmanned wellhead platform to be used at the planned Hod field development in the North Sea.
Maersk Supply Service sheds two anchor handlers due to oversupply in OSV market
Maersk Supply Service has sold two of its older AHTS vessels due to the current market situation and the global over-supply of offshore supply vessels.
Maersk Drilling enters project for CO2 storage beneath the seabed offshore Denmark
Danish offshore drilling contractor Maersk Drilling is joining a new CO2 storage consortium formed by INEOS Oil & Gas Denmark and Wintershall Dea.