Business & Finance
UK firm to store CO2 in Norwegian North Sea via Northern Lights collaboration
Cory has inked a deal with Northern Lights JV, to work on a CCS project, enabling cross-border marine transportation of CO2.
Ocean Harvesting launches €3M fundraiser
Swedish company Ocean Harvesting Technologies is raising €3 million in equity investment to finance the sea trials of its scale IninityWEC wave energy device.
Norway’s Equinor and Aibel ink 10-year collaboration deal
Norwegian Equinor and its compatriot Aibel have entered into a 10-year agreement to ensure a close and long-term strategic collaboration.
Shipping firm buys Normand Maximus vessel and agrees charter terms with Solstad
American Shipping Company has acquired a new OCV and signed a long-term bareboat contract for this vessel with Solstad Offshore.
Ocean Sun posts higher first quarter net loss, with slight rise in revenues
Norwegian floating solar company Ocean Sun has recorded a wider net loss in the first quarter of 2022, when compared to the same period a year earlier, with a slight increase in revenues.
UK regulator hands over North Sea carbon storage licences to BP and Equinor
The UK regulator has awarded two carbon storage licences in the North Sea – to store up to 23 Mtpa of CO2 by 2038 – to BP and Equinor.
Aqualung carbon capture initiative attracts Golar LNG, Global Ship Lease
Global Ship Lease (GSL), a London-based containership owner Global Ship Lease (GSL) and Golar LNG, a UK-based owner and operator of marine-based LNG midstream infrastructure, have invested in a carbon capture initiative led by Aqualung Carbon Capture AS.
The plot thickens for controversial Bay du Nord oil project despite govt approval
Norwegian state-controlled oil and gas giant Equinor is now facing more challenges related to the development of its controversial Bay du Nord offshore oil project located in Canada despite recent approval by the government.
UK universities establish five-year collaboration at National Subsea Centre
Robert Gordon University and the University of Strathclyde have signed a five-year Memorandum of Agreement (MOA) to collaborate in research and technology development at the National Subsea Centre (NSC). NSC is a centre of excellence for subsea research and technology development and is delivered th
Odfjell Drilling to take over management of yet another rig from Seadrill
SFL has inked a new deal with Odfjell Drilling, enabling the latter to replace Seadrill as the manager of another drilling rig.
National Grid’s early payment of interconnector revenues to cut household bills
Ofgem has approved National Grid’s request to make early payments to consumers of £200 million over the next two years as part of the regulatory regime for electricity interconnections. National Grid has offered to pay interconnector revenues ahead of schedule rather than at the end of the standard
Europe eyes gas-rich African nations for new supplies, Rystad says
Africa is conservatively forecast to reach peak gas production at 470 Bcm by the late 2030s, according to Rystad Energy research.
XOCEAN buys Irish survey specialist Geomara
Ireland-based ocean data company XOCEAN has completed the acquisition of compatriot hydrographic survey company Geomara as part of its strategic global growth plan. The acquisition follows the investment of €8 million in September last year aimed to accelerate XOCEAN’s growth. Geomara has been provi
Noreco CFO takes over CEO role as well
Noreco has appointed its CFO as its new CEO, enabling him to carry out the required duties for both roles in the future.