Business & Finance
Subsea sector urged to act now to profit from energy transition
The subsea industry must act now to capitalize on the energy transition as the road to net zero is already underway and companies need to meet the change of pace required, according to Tom Heggarty, principal analyst in Wood Mackenzie’s Energy Transition Practice. Opportunities include facilitating
Equinor selects subsea concept for stranded Norwegian assets
Equinor and its partners have selected a concept for developing six discoveries in a joint unitisation project on Haltenbanken.
NKT posts strong Q1 2021 results, all divisions deliver
NKT has reported a revenue of €296 million in the first quarter of 2021, a 21% organic growth from the €240 million in the same quarter of 2020, with positive growth from all of the company’s three business lines. Operational EBITDA increased for all the business lines and almost tripled from €10.2
Investor calls for removal of five Hurricane Energy directors
Activist investor Crystal Amber, which holds more than 11 per cent of Hurricane Energy, has called for general meeting of shareholders to remove all non-executive directors of Hurricane.
Maersk Supply targets offshore wind and oil markets in Norway
Maersk Supply is making a move to enter Norway, targeting the towing and installation of units for offshore wind and the oil & gas industry.
ExxonMobil hopes to repair faulty Guyana FPSO parts before mid-2021
ExxonMobil is working to resolve technical challenges and design issues on its Liza Destiny FPSO as it awaits the arrival of a key component.
Diana Shipping inks sustainability-linked loan
Greek shipping company Diana Shipping has signed a sustainability-linked loan facility with Dutch ABN AMRO Bank through six wholly-owned subsidiaries in the amount of $91 million.
Saipem in talks to buy floating offshore wind specialist
Italian offshore energy specialist Saipem has entered into exclusive negotiations with a European company to acquire its subsidiary specialising in floating wind technology. Saipem is in negotiations with France’s Naval Group to acquire its subsidiary – Naval Energies. The start of the exclusive neg
Partners Group becomes sole owner of Greenlink interconnector
Partners Group has become a 100% shareholder in the Greenlink electricity interconnector between Ireland and Great Britain. Partners Group has acquired a 51% stake in Greenlink from Element Power, meaning that it now entirely owns the interconnector on behalf of its clients. Greenlink will use a sub
IEA calls for 70+ GW of offshore wind to be added each year until 2050
Almost 90 per cent of global electricity generation in 2050 could come from renewable energy sources, with solar PV and wind together accounting for nearly 70 per cent, according to International Energy Agency’s new Net Zero 2050 roadmap. The roadmap, published on 18 May, calls for scaling up solar
Offshore worker injured in serious Johan Sverdrup incident
An investigation has been launched into a serious lifting incident with a personal injury on Equinor’s Johan Sverdrup project in Norway.
GTT and Korea’s FTC update: favorable decision for GTT
The favorable decision for French LNG containment specialist GTT has been confirmed by the Seoul High Court, rejecting the appeal of the Korea Fair Trade Commission (KFTC).
Simec Atlantis’ main shareholder under administration threat
UK-based tidal energy developer Simec Atlantis Energy has warned of an alleged appointment of administrators to one of its main shareholders which owns 43% stake in the company.
Modus orders Kawasaki AUV pair
The UK-based Modus Subsea Services has placed an order with Kawasaki Heavy Industries (KHI) for two SPICE autonomous underwater vehicles (AUV). SPICE (Subsea Precise Inspector with Close Eyes) is expected to be delivered to Modus this year and will be used for operations in the North Sea and other s