Business & Finance
Polarcus calls in the liquidators
The Grand Court of the Cayman Islands has appointed FTI Consulting liquidators to financially troubled seismic contractor Polarcus. The company’s assets were taken over by its lenders following a loan default earlier this year. Last week, Polarcus received notification from the lenders that they no
European offshore wind draws record investment in 2020
Europe confirmed a record amount of €26.3 billion of investments in 2020 that will finance 7.1 GW of new offshore wind farms to be built in the coming years, WindEurope said. For comparison, €6.1 billion was invested in four offshore wind projects in 2019. This represents an increase of over 330 per
Aker BP hires Møkster platform supplier
Norwegian offshore vessel owner Simon Møkster has been awarded a new vessel contract from compatriot oil company Aker BP for a drilling campaign in Norway.
BlueInvest and DMEC partner up for marine energy private investments
BlueInvest and Dutch Marine Energy Centre (DMEC) have joined forces to mobilise private investment in the marine energy sector.
IOG picks former Ithaca man as new chief operating officer
Oil and gas company focused on the UK North Sea Independent Oil and Gas (IOG) has appointed a new chief operating officer (COO).
Iberdrola’s € 2 Bn green bond to fund Saint Brieuc, Baltic Eagle OWFs
Iberdrola has launched a green hybrid bond amounting to EUR 2 billion and will use the raised funds to finance and refinance the Saint-Brieuc and Baltic Eagle offshore wind farms in France and Germany, respectively. The company said that this was the largest green hybrid bond issue in its history an
Two Norwegian energy players unite to speed up energy transition efforts
Norwegian HitecVision and compatriot Agder Energi are teaming up to develop new companies for the coming energy transition.
Hapag-Lloyd secures green financing for six LNG-powered newbuilds
German liner company Hapag-Lloyd has concluded two green financial deals worth a total of $889 million. The financing will be used for six ultra-large 23,500 TEU container ships, which were ordered in December 2020. The company said that the two deals include debut transactions according to the Gree
RenewableUK voices concerns over Round 4 offshore wind leasing option fees
RenewableUK has welcomed the selection of preferred bidders at the Crown Estate’s Offshore Wind Leasing Round 4, but warned about the effect of the option fees on developers and, ultimately, consumers. The Crown Estate has selected six projects that will now move to the next stage of the process, wh
Rystad sees Africa and the Americas as hotspots for high-impact wells in 2021
Drilling of high-impact wells in 2020 suffered at the hands of the pandemic, but the overall results were nevertheless positive, Rystad Energy reveals.
Amazon buys more offshore wind power
Amazon has signed an agreement with Shell Energy Europe to offtake renewable power from the subsidy-free Hollandse Kust Noord offshore wind farm being constructed in the Netherlands. Starting in 2024, Amazon will offtake a total of 380 MW from the wind farm, 250 MW from Shell and 130 MW from Eneco.
Ithaca restarts North Sea unit after Covid-19 shutdown
Ithaca Energy has restarted production at its FPF-1 unit located off the UK following a recent shutdown due to an outbreak of Covid-19 on the unit.
Equinor man joins Oil & Gas UK board as co-chair
Oil & Gas UK has announced the appointment of a new co-chair to its board, as the sector focuses on the industry’s recovery whilst meeting net-zero targets.
Iberdrola adds three Irish projects as its offshore wind pipeline tops 30 GW
Iberdrola has agreed to take a majority stake in DP Energy’s 3 GW offshore wind pipeline in Ireland, marking the Spanish energy company’s entry into the Irish offshore wind market. The projects are located in three clusters on the east, west, and south coasts of Ireland, of which some will be eligib