Business & Finance
RWE and Kyuden Mirai unite for Japanese offshore wind project
RWE Renewables Japan G.K. and Kyuden Mirai Energy have signed a Joint Bidding Agreement to enter into a full-scale feasibility study for the offshore wind project planned off the coast of Yurihonjo City, Akita Prefecture in Japan. E.ON, whose renewables business RWE acquired last year, and Japan’s K
Apache stock to become exclusive to Nasdaq
Houston-based oil and gas company Apache Corporation has chosen to list its common stock solely on the Nasdaq Stock Market beginning 9 June 2020.
Hoegh LNG logs quarterly net loss
Norway-based Hoegh LNG recorded a net loss in the first quarter saying it had a limited impact on its operations from the Covid-19 coronavirus pandemic. Höegh LNG posted a net loss of $1 million for the first quarter this year, compared to a profit of 4.5 million in the same quarter a year ago and [
Neptune pushes back several project start-up dates despite ‘strong quarter’
Despite the challenges of COVID-19 and weaker commodity prices, Neptune had a strong first quarter but still decided to push back several project start dates to smoothen investments through 2020-2022.
Axxis Geo Solutions swings to profit
Ocean bottom node seismic player Axxis Geo Solutions has returned to profit as revenues hiked close to 83 per cent. AGR recorded Q1 2020 profit of $7 million, bouncing back from loss of some $4 million same time last year. The Oslo-listed firm generated quarterly revenue of $45 million, versus appro
Acteon names new CEO
Subsea services specialist Acteon said that Dr Carl Trowell will become Group’s new chief executive officer, succeeding Richard Higham. Trowell will join Acteon from offshore drilling company Valaris (Ensco). He was Ensco’s chief executive and subsequently became executive chairman in 2019 following
Continued scrapping of rigs needed to balance demand and supply, Maersk Drilling says
Maersk Drilling believes that continued rig scrapping is needed to obtain a healthier balance between rig demand and supply.
Navantia and Harland & Wolff to jointly pursue UK offshore wind projects
Navantia and Harland and Wolff (Belfast) Limited are in advanced teaming agreement discussions for cooperation in the offshore wind sector. The partnership will focus on fixed and floating foundations for the offshore wind sector in the UK. The teaming agreements are in relation to a series of speci
Reach Subsea sees quarterly deficit grow
Norwegian contractor Reach Subsea has widened its quarterly loss against prior-year comparable period on currency effects and IFRS16 depreciation effect. For the first quarter 2020, Reach booked loss of close to NOK 32 million, versus loss of NOK 19 million in the year-ago quarter. To remind, in the
OMV ready to drill Norwegian Sea well after getting green light from regulators
OMV is ready to drill an appraisal well in the Norwegian Sea following an offshore safety approval for the use of a rig and the receipt of a drilling permit from Norwegian authorities.
K Line joins IWSA as it explores the power of kites and wind propulsion
Japanese shipping company Kawasaki Kisen Kaisha (K Line) has become a member of the International Windship Association (IWSA). IWSA is a member-driven not-for-profit organisation that is dedicated to the promotion and facilitation of direct wind propulsion in commercial shipping. “With K-Line joinin
The Netherlands to extend offshore wind licences to 40 years
The Netherlands intends to extend the licences for new offshore wind projects from 30 to 40 years, according to Eric Wiebes, the country’s Minister for Economic Affairs and Climate Policy. In a letter sent to the Dutch Parliament, Minister Wiebes said that the extended licences will allow the develo
DOF Subsea books NOK 1.5 billion loss
DOF Subsea has reported loss in Q1 2020 of NOK 1.5 billion, against NOK 25 million in Q1 2019. Earnings hit was due to depreciation and impairment of NOK 976 million. This was because of the weakening market for vessel services and the low demand visibility for services going forward. DOF Subsea als
Hurricane granted more time for UK well work
Hurricane Energy’s request to extend the deadline for activities planned on the Lincoln license off the UK has been approved by UK authorities.