Business & Finance
Covid-19 outbreak hits Shell’s North Sea hub
An outbreak of Covid-19 on a Shell-operated field off the UK has forced the oil major to remove dozens of workers from the North Sea hub.
Alfa Laval invests in air lubrication technology
Sweden-based Alfa Laval has acquired a minority stake in the Netherlands-based technology company Marine Performance Systems, a developer of air lubrication technology for ships. The air lubrication technology generates microbubbles under the ship’s hull, reducing friction between the ship and the w
Lloyd’s Register gives first-ever UMS certificate to SEA-KIT
SEA-KIT’s latest unmanned surface vessel (USV) has received Unmanned Marine Systems (UMS) certification by Lloyd’s Register, becoming the first-ever to achieve this milestone. The 12-meter X-class USV, delivered to Fugro, received the new UMS certification on 28 June. SEA-KIT said it had worked clos
Pioneering Spirit vessel installs new Buzzard module for CNOOC – gallery
CNOOC International has confirmed that the heavy lift of the Buzzard Phase II topside module onto the Buzzard ‘P’ platform was completed, using the Pioneering Spirit.
Subsea 7 and OHT combine to create pure play offshore wind company
Subsea 7 S.A. has agreed to combine its Renewables business unit with Norway’s OHT ASA. Subject to the customary approvals, conditions and relevant employee consultations, the combined company will be renamed Seaway 7 ASA and will initially retain OHT’s listing on Oslo’s Euronext Growth market, with
GC Rieber halves Shearwater stake
Norwegian shipowner GC Rieber Shipping has agreed to sell shares in Shearwater Geoservices Holding reducing its ownership from 17% to 8.5%. Gross proceeds from the sale will be $50.5 million. The sold shares had book value of $41.6 million per 31 March, GC Rieber informed. Following the transaction,
Solstad secures 1,000 vessel days with new deals and extensions
Norwegian offshore vessel owner Solstad Offshore has secured multiple new medium-term contracts and contract extensions for its vessels.
Eco Wave Power collects $9.2M in IPO proceeds
Swedish-Israeli onshore wave energy developer Eco Wave Power has closed its underwritten initial public offering (IPO) on Nasdaq, collecting $9.2 million in gross proceeds.
Avance Gas agrees sustainability-linked loan for dual-fuel LPG duo
Bermuda and Norway-based shipping firm Avance Gas Holding has signed and completed a $104 million sustainability-linked term facility with a bank syndicate.
UK decommissioning costs fall but sector urged to pick up speed
UK’s OGA has revealed that the decommissioning cost estimate has fallen to £46 billion (about $63.7 billion), the fourth year-on-year fall.
WATCH: Aker BP installs jacket for new Hod B platform
Following a sail away from a yard in Verdal, a jacket for the Aker BP-operated Hod B platform has been installed in the North Sea off Norway.
Three majors support research to monitor offshore methane emissions by satellite
Three oil and gas majors are supporting a research project from GHGSat to assess the feasibility of its methane monitoring technology.
Finder Energy adds new license to UK North Sea portfolio
Perth-based Finder Energy has bought another UK North Sea license from Azinor Catalyst Limited – the highly prospective P2317 license named Goose.
Shell to raise shareholder returns amid ‘strong cash generation’
Driven by strong cash generation, oil major Shell will be increasing its returns to shareholders through share buybacks or dividends.