Business & Finance
Vitol pays $45 million to Petrobras in corruption settlement
Brazilian state-run oil company Petrobras has received $44.65 million in a settlement with Swiss energy trading firm Vitol, which was implicated in a sprawling national corruption probe.
Awilco Drilling terminates rig building deal with Keppel. Wants refund
Offshore driller Awilco Drilling has terminated its offshore rig construction order with Singapore’s Keppel due to a “breach of contract“ and is seeking a refund.
Baltic Sea TSOs agree to cooperate
Transmission system operators (TSOs) of the Baltic Sea region have agreed to strengthen their cooperation for the future of offshore grid in the Baltic Sea. The aim of the Baltic Offshore Grid Initiative is to develop common planning principles for the offshore energy network, enable the considerati
OMV Petrom sheds Kazakhstan fields to focus on Black Sea
Romanian oil and gas company OMV Petrom has sold its onshore oilfields in Kazakhstan to focus on its portfolio in the Black Sea region.
Saga Pure takes stake in blue ammonia company
Norwegian company Saga Pure, formerly known as Saga Tankers, has committed to subscribe for NOK 35 million ($4 million) in a private placement of new shares in Horisont Energi AS.
PivotBuoy gets boost from European Innovation Council Accelerator
X1 Wind, which leads the PivotBuoy floating wind platform project in Spain, has been selected in the last round of funding in the pilot phase of the European Innovation Council (EIC) Accelerator. The company has been chosen for funding support together with 37 European start-ups and SMEs to receive
Talon adds three offshore licenses to UK portfolio
Australia-based Talon Petroleum has been awarded three new exploration licenses in the UK Central North Sea (UKCS).
ORE Catapult’s tidal & wave specialist wins SUT award
The Offshore Renewable Energy (ORE) Catapult’s wave and tidal sector specialist, Simon Cheeseman, has been awarded the Society for Underwater Technology’s (SUT) Lennard-Senior prize for 2020 in recognition of his outstanding individual achievement in the field of marine renewable energy.
Scots commission study to help SMEs in offshore wind
BVG Associates has begun a new study to help pave the way for Scottish small and medium-sized enterprises (SMEs) in the offshore wind sector. The Scottish Offshore Wind Energy Council commissioned the research with the aim of helping SMEs win business in the global offshore wind market. The council’
U.S. preparing fresh sanctions to halt Russia’s Nord Stream 2
The U.S. is preparing wider sanctions for the Russian gas pipeline project Nord Stream 2 and is urging European allies to stop the work.
Borr Drilling devises plan to strengthen financial footing
Borr Drilling has come up with a liquidity improvement plan with the support of creditors as part of its efforts to strengthen its financial footing.
A.P. Moller Holding invests millions in Green Hydrogen Systems
Denmark’s A.P. Moller Holding, a parent company of A.P.Moller Group that owns shipping major Maersk, has decided to invest in compatriot Green Hydrogen Systems, a supplier of modular electrolyzers producing green hydrogen from renewable energy.
Maersk scores 4.9 of 5.0 on environmental reporting
Maersk, the world’s largest container shipping company, tops the list of 12 liner companies based on their sustainability performance reporting and planning, the Gliese Foundation said. The company won 4.9 stars out of possible 5.0, the foundation said. As explained, the company’s 2019 sustainabilit
Spirit Energy may face penalty over discharges from North Sea platform
Dutch regulator has ordered Spirit Energy to meet discharge standards on its North Sea offshore platform or face a penalty.