Business & Finance
EU: EuroAsia power link gets highest grant in €1B energy infrastructure investment
Under the Connecting Europe Facility (CEF) for trans-European energy networks, the EuroAsia Interconnector project will receive €657 million.
Hapag-Lloyd reports $12.8 billion operating profit amid strong demand
German container shipping company Hapag-Lloyd reported an “extraordinary” strong operating result in 2021, driven by high freight rates.
Equinor unveils key document for Barents Sea project with development plan due by year-end
Equinor has presented an impact assessment for the development and operation of Wisting development located in the Barents Sea off Norway.
Fresh well lined up for Stena rig in North Sea
Offshore drilling contractor Stena Drilling has secured a new contract with Petrofac for operations in the UK North Sea.
UK: £5 bln grid investments proposed, including England-Scotland subsea links
National Grid Electricity System Operator, the UK’s electricity system operator, has published Networks Options Assessment (NOA) for 2022 recommending more than £5 billion (around $6.7 billion) worth of grid infrastructure investments in the North of Scotland.
Saipem in profit warning as margins deteriorate due to pandemic and rising costs
Following a revision of its backlog, Saipem has withdrawn its outlook from October 2021, citing significant deterioration of some projects’ margins.
Three oil & gas firms gearing up for Norwegian wells in February
Three oil & gas companies have been granted drilling permits by Norwegian authorities for wells in the Norwegian Sea and the North Sea.
CMA CGM takes majority stake in Colis Privé
French shipping and logistics major CMA CGM Group has entered into a preliminary agreement to acquire a 51% stake in the Colis Privé Group, a compatriot specialist in home and relay parcel delivery.
UK oil & gas trade body changing name to reflect drive towards net-zero future
Oil & Gas UK (OGUK) is expanding to include the low-carbon offshore energy technologies like offshore wind, hydrogen, and CCS.
Odfjell Drilling mulls splitting into two groups to think beyond core services
Odfjell Drilling is contemplating spinning off its Well Services and Energy segments into a newly established company and list it on Oslo.
TotalEnergies selling third of its stake in Greater Laggan Area fields to Kistos
London-listed Kistos is buying interests in several gas fields located West of Shetland from French major TotalEnergies.
Aker BP building data factory in the cloud to improve productivity
Aker BP has joined forces with Accenture to develop and deploy a cloud-based solution to improve oil and gas operations.
UK pipeline decom firm targets more oil & gas clients with new facility
Northern Ireland-headquartered pipeline decommissioning specialist Decom Engineering has opened a new facility near Aberdeen as it wants to target new North Sea oil and gas clients. The investment valued at more than £250,000 is expected to allow faster deployment of Decom’s assets to clients workin
Clash between rig and vessel spotlights safety perils arising from ‘commercial pressure’
The recent collision in the North Sea highlights hidden safety threats arising from disregarding maritime procedures for the sake of profit.