Business & Finance
PIL seeks debt payment delay, launches investment talks with Tamasek unit
Singapore-listed Pacific International Lines (PIL) has launched talks with its lenders on a debt re-profiling plan aimed at mitigating the financial strain on the company’s operations severely impacted by the COVID-19 pandemic. The company has been on a cost-cutting mission for a while now, having a
NOS and SEA O.G. ink CTV deal for US offshore wind market
Northern Offshore Services (N-O-S) and SEA O.G. Offshore have established a joint venture to operate crew transfer vessels (CTVs) in the U.S. offshore wind industry. The agreement will see the two parties providing marine services and CTV operations for the offshore wind market in the United States.
Petrofac kicks off well decommissioning job in UK
Petrofac’s Engineering & Production Services business has begun the activity on its previously awarded well decommissioning contract for the Rubie and Renee fields located off the UK.
Magseis Fairfield adds new CTO
Magseis Fairfield has appointed Mark Zajac as chief technology officer, effective June 01, 2020. Zajac joins from Schlumberger and brings over 30 years of experience in the oil field services industry. He will replace Nils Heieren, who has decided to leave the company after close to seven years. “I
Tokyo Gas invests in Principle Power
Principle Power has secured an investment of over $22 million from Tokyo Gas to fund the company’s growth strategy and the continued commercialization of its floating wind technology. In addition, the accompanying Cooperation Agreement signed by Principle Power and Tokyo Gas sets a foundation for cr
India’s April LNG imports drop almost 30 percent
India’s liquefied natural gas imports in April decreased by almost 30 per cent as coronavirus lockdown restrictions halted economic activity and pushed down demand. India imported 1.95 billion cubic meters of LNG last month or 1.44 million tonnes, down 29.4 percent year-on-year, data from the oil mi
Japanese space startup developing LNG-powered rocket
Japanese private company Interstellar Technologies is working on a liquefied natural gas-powered orbital rocket as it is looking for ways to lower costs of reaching space. The small startup will use LNG for the main engine on its micro satellite launcher named Zero, currently under development. The
Prosafe dives deeper into the red over impairment charges
Prosafe sank deeper into the red in the first quarter of 2020 due to impairment charges resulting from the oil price collapse and the coronavirus pandemic.
Wilson and Arkon join forces to create shortsea giant, take on environmental regulations
Norwegian short-sea operator Wilson ASA has signed a deal with German counterpart Arkon Shipping GmbH & Co. KG to make the largest short sea player in Europe. Under the deal, Wilson will take about 20 dry bulk carriers on a long-term lease from Arkons’ represented coaster fleet, including Hanse Eco
Delek sells rights to royalties from Karish and Tanin fields
Delek Group and Delek Energy have signed an agreement with a third party for the sale of the rights to royalties regarding 26.4705 per cent of rights in the Karish and Tanin leases for oil, gas, and other valuable materials produced and processed at the leases.
BPC picks Stena instead of Seadrill for Bahamas drilling contract
Bahamas Petroleum has signed a drilling contract with Stena Drilling for the provision of a rig for its Perseverance #1 well, located offshore The Bahamas, thereby ditching its previous plans to use a Seadrill-owned rig.
PGNiG takes more regas capacity at Polish LNG terminal
Poland’s state-owned gas company PGNiG has secured additional regasification capacity at the country’s sole liquefied natural gas terminal in the port of Swinoujscie. The company said in a statement it booked 8.3 billion cubic meters of regasification capacity at the LNG terminal from 2024 to 2040.
Saipem to support Equinor’s energy transition journey through new engineering deal
Italian offshore contractor Saipem has signed a two-year frame agreement with Norwegian energy giant Equinor covering engineering services worldwide.
Teledyne CARIS boosts USA sales team
Teledyne CARIS, a Teledyne Technologies company, has appointed Geoff Dean to the group as USA sales manager. In this role Dean will concentrate on expanding the reach of Teledyne CARIS software products. Andy Hoggarth, director of sales and business development, said: “Geoff’s 20 years of industry e