Business & Finance
Japanese company to set up power cable factory in Scotland
Japan-headquartered Sumitomo Electric Industries is planning to establish a power cable factory in Scotland which will supply cables for offshore wind farms and grid connections. “Sumitomo Electric has the technologies necessary for the development of a green society and will work with the Scottish
With $1.2 billion first-quarter revenue, Subsea 7 on track to meet full-year guidance
Subsea 7 has reported a revenue of $1.2 billion for the first quarter of 2023, a 4 per cent increase compared to the same period last year, stating it is on track to achieve a higher whole-year revenue than in 2022. The revenue increase is said to reflect strong growth of 18 per cent in […]
First gas flows from another North Sea well, bolstering UK’s energy security
Neptune Energy has started production from the 11th well at its operated gas field in the UK sector of the North Sea.
Equinor: Injury frequency on the rise despite no oil & gas leaks and major incidents
Equinor has provided its safety results for the first quarter of 2023, showing no serious accidents and oil and gas leaks on record.
JV for large-scale LPG and bulk liquids export terminal launches in Canada
Dutch tank storage company Royal Vopak and North American energy infrastructure company AltaGas have announced the execution of definitive agreements for a new 50/50 joint venture (JV) to further evaluate the development of the Ridley Island Energy Export Facility (REEF), a large-scale liquefied pet
‘World’s longest HVDC cable project’ backed with £30 million funding
Xlinks has secured £30 million in funding for the development of what is described as the world’s longest HVDC subsea cable that will link Morocco to the UK. In the early development funding round, £25 million comes from Abu Dhabi National Energy Company PJSC (TAQA) and £5 million from energy techno
Hurricane sees takeover bid as ‘fair and reasonable’
Hurricane has advised its shareholders that the terms of the takeover offer, which were received from Prax, are in their best interest.
Inseanergy goes public with its fundraising campaign
Inseanergy, a Norwegian company developing floating solar solutions for aquaculture industry, has opened a fundraising campaign, targeting €855,000 to further advance its business.
Offshore Energy at WindEurope: UK-Netherlands multi-purpose interconnector launches (Video)
UK energy market regulator Ofgem has received the application for an electricity interconnector license for the recently announced LionLink multi-purpose interconnector that will connect the UK and the Netherlands. The application was submitted by National Grid Lion Link Limited for a license that w
Norwegian oil & gas player ready to spud North Sea wildcat
DNO has secured a drilling permit from the country’s authorities for an exploration well in the North Sea off Norway.
Aker BP all set to kick off drilling ops in North Sea with Saipem rig
Aker BP has secured a drilling permit from the country’s authorities for an exploration well in the North Sea off Norway.
Nexans secures loan guarantees for UK export cable contract
Nexans Norway has secured NOK 2 billion (around £155 million) in loan guarantees from Export Finance Norway (Eksfin) that will be used for a UK export cable contract. The transaction covers the export and installation of high-voltage subsea cables for the Moray West offshore wind farm off the coast
Three players pursuing floating offshore wind opportunities at Barents Sea oil field
Vår Energi has entered into a collaboration with Odfjell Oceanwind and Source Galileo to explore floating offshore wind in the Barents Sea.
Is gas paving the way for the hydrogen revolution?
In the energy transition blueprint for the sustainable future, hydrogen has carved a niche for itself and is gaining more ground.