Business & Finance
Northland Power could invest € 13 billion in offshore wind in next five years
Over the next five years, Northland Power could invest between at least CAD 15 billion and CAD 20 billion (between EUR 9.8 billion and EUR 13 billion) in new offshore wind projects in which it holds ownership shares, with offshore wind being an anchor for its next phase of growth in the renewable en
Equinor strikes oil and gas near Troll field
Equinor and partners have struck gas and oil in production licence 923, the first discovery this year made near the Troll field in the North Sea.
Aker BP adds two new wells to Maersk rig backlog
Maersk Drilling has secured an additional two-well contract for the low-emission rig Maersk Integrator with Aker BP in Norway.
TechnipFMC separation to take place this month
TechnipFMC said on Thursday it plans to wrap up its separation into two independent, publicly traded companies later this month. Namely, the last day of trading of TechnipFMC shares that include the right to receive Technip Energies shares on the New York Stock Exchange and Euronext Paris stock exch
Aker BP boasts record-high output and pledges to stay ‘pure-play oil and gas company’
Aker BP has pledged to remain a pure-play oil and gas company and contribute to the energy transition through minimizing emissions and by sharing data.
PGS cautiously optimistic despite red numbers
PGS remains carefully positive even with red numbers in the fourth quarter of 2020 as revenues fell some 37 per cent. The Oslo-listed seismic player reported quarterly loss of $60 million, or 16 cents per share on revenues of $208 million. This result compares against profit of $10 million on around
Neptune picks up permit for North Sea appraisal well
The Norwegian Petroleum Directorate (NPD) has granted Neptune Energy a drilling permit for an appraisal well offshore Norway.
Denmark greenlights North Sea energy island hub
Denmark has reached a landmark agreement on the construction of an energy hub in the North Sea. The energy hub will be an artificially constructed island 80 kilometers from the shore of the peninsula Jutland. Around 200 wind turbines with a combined capacity of 3 GW are expected to be installed in t
Solstad gets rid of platform supply trio
Norwegian offshore vessel owner Solstad Offshore has decided to sell three of its platform supply vessels (PSVs).
TEPCO RP buys into TetraSpar floater demo project
TEPCO Renewable Power (TEPCO RP) has joined the TetraSpar floating foundation demonstration project by buying a 30% stake. In addition to TEPCO RP, the share structure in the project includes Shell holding a 46.2% share, RWE 23.1% and Stiesdal Offshore Technologies 0.7%. Through their collaboration
Rystad Energy: Global installed offshore wind capacity to grow by 37% in 2021
The world’s installed offshore wind capacity rose by 15 per cent in 2020, despite the COVID-19 pandemic, and this year will see a 37 per cent growth in global installed offshore wind capacity, according to Rystad Energy. Major contributor to both last year’s and this year’s growth is China. The coun
Shell’s earnings sink on lower prices and volumes
Shell recorded an 87 per cent decrease in its 4Q 2020 adjusted earnings due to lower oil and gas prices and production volumes.
EnQuest to buy Golden Eagle from Suncor
EnQuest has signed an agreement with Suncor Energy to buy its entire non-operated equity interest in the Golden Eagle area.
Offshore EPC awards set for rebound in 2021
Outlook for the offshore engineering, procurement and construction (EPC) market in 2021 looks promising, boosted by projects deferred from 2020, according to market research provider Westwood. With a forecast of $29 billion firm or already awarded contracts and a further $16 billion of probable and