Business & Finance
Neptune Energy announces new Algeria MD
Oil and gas exploration firm Neptune Energy has appointed Mehdi Bouguetaia to take on the role of Algeria managing director. Bouguetaia joins Neptune from Shell where he was technical support and subsea operations general manager with Rashpetco JV in Egypt. An Algerian national, he started his caree
Loss grows for Eco Wave Power
Eco Wave Power has reported a wider net loss for the first quarter of 2020 with no revenues and increased costs. The wave energy technology firm booked a loss of SEK 4.4 million (USD 466,000/EUR 419,000), increasing from SEK 1.7 million a year earlier. Operating costs almost doubled to SEK 1 million
Van Oord inks green loan for LNG-powered dredgers
Dutch marine contractor Van Oord has signed its first green loan that will be used to fund its new liquefied natural gas-powered dredgers. The company said in a statement it signed the loan with Dutch Rabobank and France’s BNP Paribas last month. Van Oord structured the loan according to green loan
Former Santos man to take COO role at Beach Energy
Oil and gas company Beach Energy has appointed a new chief operating officer (COO) of the company.
Klaveness: CLEANBU vessel Barracuda makes 1st switch from dry cargo to jet fuel
Klaveness Combination Carriers’ (KCC) CLEANBU vessel MV Barracuda completed last week the first voyage carrying a part cargo of jet fuel to Korea after discharging its previous cargo of soya beans in China in early May.
Ineos farms out two Norwegian licenses to Lime Petroleum
Rex International’s 90 per cent subsidiary, Lime Petroleum, has completed the acquisition of a 15 per cent stake in two Ineos’ Norwegian Sea licenses.
Suncor puts out fire on Terra Nova FPSO
A fire on board Suncor Energy’s Terra Nova FPSO, located offshore Canada, was reported to the Canadian offshore regulator on Saturday.
IOG hires Petrofac for well management job in North Sea
Petrofac has secured a well management contract for Phase 1 of Independent Oil and Gas’ (IOG) Core Project located off the UK.
WE Tech nets contract for Shell-chartered LNG carriers
Finland’s WE Tech Solutions has won a contract to supply equipment to eighth liquefied natural gas carriers that will go on charter to LNG giant Shell. WE Tech says it will start supplying its equipment in February 2021. The delivery package includes two sets of direct drive permanent magnet shaft g
PHOTO: Allseas vessel up and running on Karish pipeline offshore Israel
Allseas’ Solitaire pipelay vessel is now working on Energean’s Karish pipeline project located offshore Israel.
Mermaid deputy CEO resigns
Subsea and drilling services provider Mermaid said that Philippe Grasset has submitted his resignation as deputy chief executive officer of the company. The parties have agreed that the effective date of his resignation will be on 1 July 2020. Philippe Jean Paul Grasset took the position of deputy C
Chevron plans to reduce workforce by up to 15 per cent this year
Chevron is planning to reduce its nearly 45,000-strong workforce by 10 to 15 per cent this year due to negative impacts of the coronavirus pandemic coupled with a sharp decline in oil and gas prices.
New CFO for NKT
Cabling specialist NKT has appointed Line Andrea Fandrup, executive vice president, chief financial officer (CFO). She joins NKT no later than 1 November 2020. Line Andrea Fandrup joins NKT from Rockwool as Group finance vice president with insights to finance, treasury and investor relations. Prior
DEME Offshore gets on board PosHYdon project
DEME Offshore has joined the team behind the PosHYdon project that aims to integrate offshore wind, offshore gas, and offshore hydrogen in the Dutch part of the North Sea. Within the project, DEME Offshore will be in charge of providing the hydrogen unit for installation on the Q13a platform, operat