Business & Finance
EMEC’s marine energy activities brought in over €420M to UK economy, report finds
Economic impact assessment spanning two decades of operations at the European Marine Energy Centre (EMEC) has valued the impact of the test center to UK economy to be over €420 million (£370 million).
Stena Line takes over ferry and RoRo terminal in Port of Ventspils, Latvia
Swedish ferry operator Stena Line has acquired the operations of the ferry and RoRo terminal in the Port of Ventspils, Latvia, in the latest move supporting the group’s long-term expansion in the growing Baltic Sea region. Stena Line has operated the route between Ventspils and Nynäshamn, Sweden sin
Shortly after revealing new investment plans, NKT’s CEO resigns
NKT’s Chief Executive Officer (CEO) Alexander Kara has decided to leave the company and is being replaced from within. The announcement comes shortly after the company revealed it was planning new investments in additional production capacity and capabilities. According to NKT, Kara has decided to l
CMA CGM moves forward with Bolloré Logistics acquisition deal
French liner heavyweight CMA CGM has committed to purchasing Bolloré Group’s transport and logistics operations – Bolloré Logistics. CMA CGM said that it has granted ‘ a put option’ to Bollore Group to sell Bollore Logistics after exclusive negotiations announced on April 18, which the latter accept
International offshore rig count slips a notch
Baker Hughes’ international rig count report indicates that the number of offshore rigs lost its forward momentum.
NKT picks up €600M contract for Spain-France interconnector
NKT has secured a final order for one of the 400 kV high-voltage power cable systems for the Biscay Gulf Interconnector, with an order value exceeding €600 million.
Shell scores high against backdrop of lower oil & gas prices while ConocoPhillips’ earnings take a hit
Two oil majors, Shell and ConocoPhillips, have joined their peers in posting 1Q 2023 results, which were hampered by lower oil & gas prices.
Equinox Ocean Turbines embarks on €3.3 million fundraising campaign
Dutch company developing innovative ocean energy technology Equinox Ocean Turbines has opened an investment opportunity, targeting €3.3 million to further scale up its business.
Shell inks deal with Ithaca to offload its stake in UK’s ‘second largest undeveloped field’
Shell has signed an agreement with Ithaca Energy, defining a marketing process for its interest in the controversial Cambo development.
TotalEnergies hand-picks helicopter operator for two North Sea fields
TotalEnergies has handed out a new contract to NHV to support its offshore operations in the Danish sector of the North Sea.
Transocean hands out rig services deal to furnish its semi-sub with ‘game-changing’ solution
Transocean has awarded a rig services contract to InteliWell to equip one of its semi-submersible rigs with a drilling automation solution.
Technip Energies, John Cockerill launch new hydrogen solutions company
Engineering and technology companies Technip Energies and John Cockerill have established Rely, a provider of integrated and competitive green hydrogen solutions. According to Technip, Rely will offer end-to-end solutions, from pre-final investment decision (pre-FID) services, including technical an
Two Odfjell Drilling rigs get more work
Equinor has exercised options to drill additional wells with two Odfjell Drilling-owned rigs, extending the rigs’ backlog further.
Maersk: Q1 profitability slashed amid softened demand
Danish container shipping major Maersk has reported a massive drop in its ocean revenue for the first quarter of this year, plunging by $5.7 billion to $9.9 billion year-on-year amid lower freight rates and softened demand. Last year saw a record performance of container shipping majors, impacted by