Business & Finance
Maersk rig gets one more Martin Linge well
Equinor has exercised the option to add development drilling of one additional well at the Martin Linge field to the work scope of the Maersk Intrepid.
Wärtsilä to cut emissions, fuel consumption on two Siem vessels
The Finnish technology group Wärtsilä and vessel provider Siem Offshore have signed an optimised maintenance agreement to reduce the carbon footprint of two offshore well intervention vessels.
Ship repair and vessel services firm ROG becomes independent
Dutch ship repair and vessel services specialist ROG has decided to become independent after acquiring a controlling stake from shipbuilder Royal IHC.
Horns Rev 3 offshore wind farm gets DNV GL project certificate
DNV GL has officially issued the project certificate to Vattenfall for its Horns Rev 3 offshore wind farm in Denmark. The certification covered the turbines including their support structure plus all the cabling connecting them to the offshore substation. Inspections were carried out over a three-ye
Ørsted buys into Baltica 2 & 3 offshore wind farms in Poland
Ørsted and PGE Polska Grupa Energetyczna have signed an agreement to form a 50/50 joint venture for the development, construction and operation of the 1.5 GW Baltica 2 and 1 GW Baltica 3 offshore wind farms in Poland. The agreement was signed following negotiations that PGE and Ørsted started back i
BW Offshore braces for FPSO impairments
FPSO operator BW Offshore has decided to record an impairment to the book value of three FPSOs, amounting to $59.6 million, in the fourth quarter of 2020 amid continued uncertainty regarding redeployment. The three FPSOs are Berge Helene, BW Cidade de São Vicente, and Espoir Ivoirien, BW Offshore sa
Equinor sinks deeper into the red amid market turmoil
Norwegian oil and gas giant Equinor saw a massive increase in its quarterly net loss amid market turmoil caused by the coronavirus crisis.
Offshore Wind Consultants, Ambiens team up in Poland
Offshore Wind Consultants (OWC) and Polish environmental consulting company Ambiens have signed a memorandum of understanding (MOU) to cooperate on offshore wind developments in Poland. OWC, a subsidiary of AqualisBraemar LOC, is supporting projects that are already in development in Poland, but als
MOL hits dust in North Sea well
Oil and gas company MOL Norge has drilled a dry well located at Mandal High in the southern North Sea offshore Norway.
Maersk ends year with record quarterly results, expects strong Q1 amid demand surge
A.P. Moller – Maersk, the world’s largest container carrier, has ended 2020 on a strong note despite the impact of COVID-19. The company’s underlying earnings before interest, tax, depreciation and amortisation (EBITDA) grew 44 pct. to $8.2bn and revenue grew to $39.7bn in 2020 compared to $38.9bn i
Maersk sues Glencore over bad bunkers
Danish logistics giant Maersk has filed a lawsuit against commodity trader Glencore Ltd over contaminated bunker fuel supplied to two of its containerships. Based on the court documents filed on Friday, February 5, with the New York District Court, Maersk is seeking compensation worth $6 million for
Aker BP man to join OKEA as new CEO
Norwegian oil and gas company OKEA has appointed Svein J. Liknes as its new CEO, starting from June 2021.
Total sees profit dive, plans to change name in energy transition push
Total decided to change its name as part of its efforts to anchor its transformation into a broad energy company in line with energy transition
WindEurope: UK getting seabed leasing ‘badly wrong’
The UK’s recent Offshore Wind Round 4 seabed leasing represents a risk for raising costs of offshore wind due to the option fee that investors need to pay upfront for the right to develop projects, WindEurope said. In its latest leasing round, the UK introduced a new bidding system that makes invest