Business & Finance
Delegation meets to discuss EuroAsia Interconnector
Project developer of the EuroAsia Interconnector and the Cypriot and Israeli delegations have met in Nicosia, Cyprus, to discuss the electricity link that will connect Israel, Cyprus, Greece and continental Europe. A delegation of the Israeli and Cypriot Ministries of Energy, the Israeli and Cypriot
Oil & gas ‘supercycle’ pushes Saipem’s offshore activity up, bringing record-quarterly revenue
Saipem has posted the highest quarterly revenue since the fourth quarter of 2015, driven by sizeable awards for its offshore business.
TotalEnergies and Shell join first Hydrogen Area at Offshore Energy Exhibition & Conference
Offshore Energy Exhibition & Conference 2022, coming up on 29 and 30 November in Amsterdam, will feature a Hydrogen Area for the first time, with TotalEnergies, Strohm, Green Team Twente, Shell, and TU Delft Hydro Motion Team set to join this inaugural moment for Offshore Energy and Navingo BV.
TotalEnergies’ profit soars on high gas prices
TotalEnergies has strengthened its balance sheet and doubled its profit in the third quarter of 2022 on a year-on-year basis.
NKT’s new extrusion tower ready to produce high-voltage power cables
NKT has completed the construction of the second extrusion tower for high-voltage power cables at its factory in Karlskrona, Sweden. NKT can now start manufacturing high-voltage power cables in the new tower, designated as NKT Lighthouse, in the fourth quarter of the year. The 150-meter tall tower i
Shell sees ‘robust’ profits
Shell has recorded higher profits in 3Q 2022 on a year-on-year basis thanks to higher gas prices and increased volumes from deepwater assets.
Equinor to supply gas to Ørsted via Baltic Pipe
Danish Ørsted, said to be the world’s leading offshore wind developer, and Norway’s energy giant Equinor have entered into an agreement under which Equinor will supply Norwegian gas to Denmark via Baltic Pipe from 1 January 2023 to 1 April 2024. The total volumes of gas supplied during the period wi
European Investment Bank boosts clean energy financing with €30B for REPowerEU plan
The European Investment Bank Group (EIB Group) has agreed to support the REPowerEU plan with additional €30 billion in loans and equity financing over the next five years.
Green light for Neptune to spin the drill bit in Norwegian Sea
Neptune Energy has secured two types of permits from Norwegian authorities for drilling operations in the Norwegian Sea.
High subsea activity lifts DOF’s figures up
DOF Group has reported that its fleet achieved an average utilization of 88% in the third quarter of 2022, an increase from 83% in the same period last year, backed by “continued high activity and good performance” in subsea regions. In Q3 2022, DOF’s revenue totaled NOK 2,862 million, an increase f
Grimaldi books construction of five ammonia-ready car carriers
The Italian shipping company Grimaldi Group has signed an order for the construction of five new Pure Car Truck Carriers (PCTCs) with China Merchants Heavy Industries Jiangsu, which is part of China Merchant Industry Holdings. The agreement foresees an option for additional five units, for a total i
German govt gives conditional nod to COSCO’s minority stake in HHLA container terminal
The German government approved the acquisition of a minority stake in HHLA Container Terminal Tollerort (CTT) by the Chinese company COSCO Shipping Ports Limited (CSPL), Hamburger Hafen und Logistik confirmed earlier today. The approval is subject to conditions, which include a limitation of the sha
SodaFlexx treats scrubber emissions from ships with baking soda
London-based equipment innovator SodaFlexx has developed a concept to treat exhaust gas emissions from ships with sodium bicarbonate powder, also known as baking soda. As of 1 January 2020, the IMO Sulphur Cap entered into force limiting the use of sulphur in fuel oil used on board ships operating o
More time for Eidesvik PSV with Wintershall Dea
Eidesvik Offshore has secured a contract extension for one of its platform supply vessels (PSVs) with Wintershall Dea.