Business & Finance
UK turns to renewables and low-carbon power to bolster energy security
The UK is pivoting towards renewable and low-carbon energy in a push to strengthen energy security, says the Energy Industries Council (EIC).
European Commission taps Hellenic Cables for floating wind pilot project
Greek cable manufacturer Hellenic Cables has been selected by the European Commission to take part in delivering the Infinite project aimed at accelerating industrial-scale floating wind. The Infinite project includes the deployment and testing of a 4.8 MW floating wind pilot system at a 100-meter w
Canadian player wraps up acquisition of additional stake in gas field off Ireland
Vermilion has closed the acquisition of Equinor’s subsidiary in Ireland, increasing its operated interest in a natural gas field off Ireland.
Equinor gets clearance to spin the drill bit at North Sea prospect
Equinor has secured a drilling permit from the country’s authorities for two wells in the North Sea off Norway.
Giant Black Sea project weeks away from first gas
Türkiye is putting the wheels into motion to achieve the first gas from a giant natural gas project in the Black Sea in less than three weeks.
Fresh batch of offshore contracts brings Saipem $650 million
Saipem has been awarded three new offshore EPCI contracts and two FEED competition deals, totalling approximately $650 million.
Ocean Installer and Baker Hughes join hands for integrated subsea engineering solution
Marine construction and operations contractor Ocean Installer and energy technology company Baker Hughes have formalized an alliance to deliver an integrated subsea engineering solution said to provide efficiencies from project appraisal through to operations. The new global agreement is expected to
Petrofac’s new chief executive officially takes over
McDermott’s Tareq Kawash has officially taken over the role of Group Chief Executive and Executive Director at Petrofac after Sami Iskander stepped down in order to pursue other interests. The oilfield services provider confirmed that the new group chief executive started the role as of 1 April and
Statkraft to provide renewable power for Fortescue’s Holmaneset green project
Fortescue Future Industries (FFI), a global green energy company, has secured renewable power for its proposed Holmaneset green energy project by entering into a long-term power purchase agreement (PPA) with Statkraft, a supplier of renewable energy. Under the conditional agreement, Statkraft is exp
Olympic Subsea multipurpose vessel starts charter with James Fisher
James Fisher Subtech has signed a charter agreement with Olympic Subsea for the exclusive use and operation of the multipurpose offshore vessel Olympic Taurus. Olympic Taurus has already been mobilized for work from Montrose Port, Aberdeenshire, and fitted with a work-class remotely operated vehicle
After appointing new CEO, UK oil & gas firm names COO and executive director
UK and Ireland-focused oil and gas exploration, development, and production company Europa Oil & Gas (EOG) has appointed Alastair Stuart as Chief Operating Officer and an Executive Director of the company, effective immediately. Stuart has been a consultant at Europa Oil & Gas since 2012 and more re
King Charles III and German president voice support for NeuConnect energy link
The NeuConnect energy link that will connect Germany and the UK for the first time is a “key project” and highlights how closely the two countries are working together to make their economies climate-neutral, German President Frank-Walter Steinmeier said during the visit of UK’s King Charles III to
Clarksons says alternative fuel ships account for 47 pct of orderbook, projects another 100 LNG carrier orders
Alternative fuel ships have accounted for around 60% of new orders since the start of 2022 in GT, primarily driven by LNG dual-fuel vessel orders, and increasingly methanol, and now account for 5% of fleet GT and 47% of orderbook, data from Clarksons shows. Looking at the fleet profile, the shipbrok
NKT secures €500 million offshore wind contract
Ørsted has awarded NKT with a supply contract for the delivery of the high-voltage DC on- and offshore export cable system for the Hornsea 3 wind farm offshore the UK. For NKT, the final order has an estimated contract value of approximately €500 million in market prices. The contract will comprise