Business & Finance
Trelleborg gets rid of another offshore oil and gas business
Swedish provider of engineered polymer solutions Trelleborg has divested another part of its oil and gas portfolio – this time in Norway.
Aker BP books profit, higher income over price increase and sold volume
Norwegian oil and gas company Aker BP has booked a profit and saw higher income in the first quarter of the year due to higher realised prices and an increase in sold volume compared to the previous quarter.
FPP pockets €17.7M for floating wind and wave scheme off Canary Islands
Danish company Floating Power Plant (FPP) has secured €17.65 million in R&D tax credits for an offshore floating wind and wave project off the coast of the Canary Islands.
Valaris books first-quarter loss, looks to emerge from Chapter 11
Offshore drilling contractor Valaris booked a $910 million loss in the first quarter of the year but hopes to re-emerge from bankruptcy sooner rather than later.
Kriegers Flak OWF generating electricity for Danish households
The Kriegers Flak offshore wind farm in the Baltic Sea, where half of the turbines have been installed so far, is already generating electricity for Danish households and has contributed to Vattenfall’s Q1 2021 results. The developer reported a decrease in electricity generation in the first quarter
Eidesvik sells platform supplier outside oil and gas sector
A subsidiary of Norwegian offshore vessel owner Eidesvik Offshore has sold and delivered one of its platform supply vessels (PSVs).
Bristow scores contract extension with Aker BP in Norway
Offshore helicopter operator Bristow Group has won a contract extension with Aker BP to support air transportation crew change services for their operations on the Norwegian continental shelf.
Wintershall Dea breaks quarterly production record. Net debt down by a third
German oil and gas company Wintershall Dea has had a record quarterly production in the first quarter of 2021 with 659,000 barrels of oil equivalent a day and reduced its net debt by almost a third.
BP triples first-quarter profit to $2.6 billion on strong oil, gas trading
Oil major BP has tripled its quarterly profit due to exceptional gas marketing, significantly higher oil prices, and higher refining margins.
Nordic partnership targets oil and gas platforms emissions cut using wave tech
Oil and gas company Lundin Energy Norway has partnered up with Swedish wave energy developer Ocean Harvesting Technologies to explore the potential of using wave energy to decarbonise the production of oil and gas on offshore platforms.
EU maritime sector set to benefit from new sustainable finance package
On 21 April, the European Commission adopted a “sustainable finance” package to help improve the flow of money towards sustainable activities across the European Union.
Scotland gets first dedicated subsea decommissioning hub
NorSea UK, in collaboration with Robertson-IES and CR Smith Services, has unveiled NorSea Decom – a dedicated entity whose sole work scope will be the safe and compliant management of decommissioned subsea infrastructure and waste logistics.
Offshore wind FIDs to increase 57 per cent by 2022 – Westwood
Offshore wind energy projects final investment decisions (FIDs) will grow 57 per cent in the next 18 months, compared to the 2019-20 period, according to a new analysis from Westwood Global Energy Group. The global analysis, excluding mainland China, states that the FIDs growth represents an additio
Mubadala signs MOU to buy Tamar field stake from Delek Drilling
Israel’s Delek Drilling has signed a non-binding memorandum of understanding (MoU) with UAE’s Mubadala Petroleum for the sale of its 22 per cent non-operated stake in the Tamar gas field offshore Israel.