Business & Finance
ADNOC buys Middle East assets of UK-based offshore logistics provider
ADNOC Logistics & Services has made a move to acquire all of the UAE-based assets of Speedy Hire, a UK provider of tools and equipment.
Baker Hughes and Akastor create new offshore drilling solutions player
Baker Hughes and Akastor have announced an agreement to create a joint venture company, that will deliver an offshore drilling equipment offering.
Neptune kicks off appraisal drilling at Dugong discovery
Neptune Energy and its partners in the Dugong licence have started drilling on the Dugong appraisal well, located in the Norwegian sector of the North Sea.
Prosafe unit hired for accommodation at Buzzard
Prosafe has signed a contract with CNOOC Petroleum for the charter of the Safe Boreas to provide gangway connected operations for the Buzzard platform.
DNO gets nod to plug North Sea wells with Dolphin rig
Norwegian offshore safety watchdog has given DNO Norge consent for the use of the Borgland Dolphin rig for a permanent plugging of wells offshore Norway.
Apollo and Vekta Group join forces for offshore wind, oil & gas
Apollo and Vekta Group have signed a Memorandum of Understanding (MoU) to together provide services across the offshore wind and oil & gas sectors. The combined service offering brings commercial, project management, yield modelling, power, electrical, mechanical, structural and marine experience. T
Energean takes full ownership of Israeli subsidiary
Oil and gas firm Energean has completed its acquisition of the 30 per cent minority interest in its Israeli subsidiary from Kerogen Capital.
Fincantieri posts EUR 245 million loss for 2020
Italian shipbuilding heavyweight Fincantieri reported a net loss of EUR 245 million ( $ 296 million) for the full year of 2020 amid the impact of the coronavirus, further deepening the loss of EUR 148 million from 2019. The shipbuilder said that 2020 was an out-of-the-ordinary year due to the impact
Maersk: We need to act faster to break this chicken and egg limbo
The transition towards zero-carbon fuels in the shipping industry needs to be accelerated, putting a greater focus on the viable solutions already on the market and skipping transitional solutions. These were the messages of A.P. Moller Maersk’s Executive Vice President Henriette Hallberg Thygesen d
Carnegie Clean Energy swings to half-year loss
The Australian-based Carnegie Clean Energy has seen red in its latest earnings report as the company swung to a net loss when compared to same period last year.
Eni completes Dogger Bank Wind Farm stake buy
Italian oil and gas major Eni has completed the acquisition of a 20 per cent stake in the 1.2 GW Dogger Bank A and the 1.2 GW Dogger Bank B offshore wind farms in the UK. Eni bought the stakes from Equinor (10 per cent) and SSE Renewables (10 per cent). Following this transaction, the […]
Tullow Oil agrees on new debt capacity with banks
Oil and gas company Tullow Oil has agreed a new debt capacity with its banks under its reserves based lending facility of $1.7 billion.
Siem Offshore trims quarterly loss
Oslo-listed marine contractor Siem Offshore has reduced its Q4 2020 deficit despite revenue drop of 20 per cent against prior-year quarter. Quarterly operating revenues were $57 million, compared to $71 million in Q4 2019. The decrease in revenues from 4Q 2019 is mainly due to lower revenues from th
Rauma Marine Constructions restarts production after Covid outbreak
Production at Rauma Marine Constructions in Rauma, Finland, was resumed on February 25, after a week-long corona closure.