Business & Finance
Earnings drop for Helix Energy Solutions
Helix Energy Solutions has seen its fourth-quarter 2020 profit almost cut in half on lower well intervention activity, slightly offset by its robotics unit. The Houston-based company reported net income of $4.2 million, or $0.03 per diluted share, for the fourth quarter 2020 compared to $8.1 million
Transocean bleeds red ink in fourth quarter
Transocean sank to a net loss in the last quarter of 2020 compared to the prior quarter but managed to reduce its losses in the y-o-y comparison.
Euronav inks sale and leaseback for VLCC
Belgium’s tanker shipping company Euronav has entered into a sale and leaseback agreement with China’s investment management company Taiping & Sinopec Financial Leasing Ltd Co. for Newton, a 2009-built very large crude carrier (VLCC).
UK to fund offshore wind manufacturing in disadvantaged regions
The UK Department for Business, Energy and Industrial Strategy (BEIS) has launched an Offshore Wind Investment Programme to support the delivery of manufacturing investment in the offshore wind supply chain in disadvantaged or deprived regions in the UK. UK-registered businesses can apply until 11:5
Neptune Energy fires up Gjøa P1 development
Operator Neptune Energy and its partners have started production from the Gjøa P1 development in the Norwegian sector of the North Sea.
Premier-Chrysaor merger clears regulatory hurdles
All of the regulatory conditions relating to Premier’s merger with Chrysaor have been satisfied and the requisite antitrust approvals have been received.
Interview with Silverstream CEO: Increasing ship efficiency a matter of business survival
Ship owners will have to make their vessels more efficient regardless of the pathway they choose to meet the upcoming regulatory requirements on greenhouse gas (GHG) emissions in 2030 and ultimately 2050. Making vessels more efficient will be vital in ensuring owners remain competitive in the busine
Awilco LNG swings to profit in Q4
Norwegian LNG transportation provider Awilco LNG swung to a profit in the fourth quarter of last year.
RenewableUK: Projects like Norfolk Vanguard needed to reach UK’s offshore wind target
Commenting on the UK’s High Court ruling on the Norfolk Vanguard offshore wind project, RenewableUK’s Deputy Chief Executive Melanie Onn said that such projects need to go ahead as swiftly as possible in order for the UK to achieve its goal of having 40 GW of offshore wind by 2030. New offshore wind
Total hires DNV GL for services on UK North Sea assets
DNV GL has been awarded a three-year contract by Total to provide multiple services across the full portfolio of the operator’s assets in the UK North Sea.
Equinor to shut down Veslefrikk field after 30 years
After more than 30 years on stream and over 400 million barrels of oil equivalent, Equinor is planning for the shutdown of the Veslefrikk field.
After a rocky start to the year, BW Offshore moves to seize energy transition opportunities
After a rocky start to the year, BW Offshore is investing in the floating offshore wind to position itself as an early mover in the energy transition.
Fugro targets more offshore wind after red numbers in 2020
Dutch subsea and survey specialist Fugro has seen its loss almost doubled in 2020 with revenues down some 12 per cent due to the impact of Covid-19 and the downturn in oil and gas. The company recognised net loss of €74 million in 2020, against net loss of €39.6 million in 2019. Revenue declined in
Big oil output to peak lower and earlier than expected, Rystad says
The world’s oil and gas industry’s production will peak lower and earlier than expected before the 2020 market crisis, a Rystad Energy analysis shows.