Business & Finance
UK’s IOG commits to net-zero status as of 2021
UK gas company IOG plc has committed to Scope 1 & 2 net-zero status as of 2021 following the completion of an Emissions Assessment.
Fresh start for Valaris with new contracts and three stacked rigs returning to work
Valaris is seeing early signs of recovery in rig demand evidenced by new contracts for its fleet of drillships, semi-submersible, and jack-ups.
BP bounces back to profit, ups dividend
BP has decided to boost its dividend by four per cent and start a share buyback program following a return to profit in 2Q 2021.
Kraken finalises PanGeo Subsea purchase
Canada-based marine technology company Kraken Robotics has completed the acquisition of 3D acoustic imaging specialist PanGeo Subsea.
IOG spuds Blythe development well ahead of first gas
UK gas company IOG plc has started drilling the Blythe development well located in the UK North Sea ahead of the first gas from the hub.
EuroAsia Interconnector secures €100 million EU grant
The Council of the European Union has approved the allocation of a €100 million grant for the EuroAsia Interconnector electricity interconnector. The announcement comes as part of the Recovery and Resilience Plan for Cyprus to end the energy isolation as it is the last non-interconnected EU member s
KCA Deutag to target energy transition market with new business unit
KCA Deutag has created a new business unit that will expand its offering in both the hydrocarbons and energy transition markets.
Subsea 7 buys into Spanish floating wind specialist
Subsea engineering, construction and services company Subsea 7 has entered into an agreement to acquire a majority interest in the equity of Nautilus Floating Solutions S.L. a developer of technology for the floating wind market based in Bilbao, Spain. According to Subsea 7, Nautilus has developed a
In focus: The pursuit of low-carbon business prospects
This week’s focus was on making vessels greener, low-carbon strategies, green hydrogen, and building a sustainable future.
Marine Power Systems hits 170% over its original crowdfunding target
Welsh renewable energy developer Marine Power Systems (MPS) has received massive investment support in its ongoing crowdfunding campaign on Crowdcube which closes in five days.
CGG sells GeoSoftware business
French seismic firm CGG entered into an agreement with Topicus and Vela Software for the sale of its GeoSoftware business.
Xodus in electrification study for Harbour’s North Sea assets
Xodus is assessing the infrastructure and modifications required to enable electrification of Harbour Energy’s Central North Sea assets.
European Investment Bank and Hydrogen Europe team up on hydrogen projects
The European Investment Bank (EIB) and industry association Hydrogen Europe have signed an agreement for consultancy services for green hydrogen projects.
Officials urge for timely creation of ‘ten point plan’ for Welsh renewable energy
The UK Parliament’s Welsh Affairs Committee has called for the development of a specific renewable energy strategy for Wales before the end of this year as failing to do so would put at risk the emerging economic opportunities offered by the shift to net-zero.