Business & Finance
Cairn Energy picks new chairperson
A new chairperson of oil and gas company Cairn Energy would join the company with effect from 1 January 2021.
Repsol reveals new strategic plan to accelerate energy transition
Spanish oil company Repsol has unveiled its 2021 – 2025 strategic plan which will advance its net-zero emissions objective.
GIEK backs Aibel and OHT on Dogger Bank A and B
Norwegian state-backed Export Credit Guarantee Agency GIEK is providing loan guarantees for contracts awarded to Aibel and OHT for the UK’s Dogger Bank A and B offshore wind project, for which Equinor and SSE have now reached financial close. Aibel has won a contract to deliver two converter platfor
BP and Ithaca produce first oil from North Sea project
BP and Ithaca Energy have started production from the Vorlich development, in the UK North Sea, which was the target of environmental protests back in 2019.
Dogger Bank owners close largest ever offshore wind project financing
Equinor and SSE have reached financial close on the first two phases of the Dogger Bank wind farm project, representing in aggregate the largest offshore wind project financing to date globally. The 3.6 GW Dogger Bank offshore wind project is divided into three 1.2 GW phases, Dogger Bank A, Dogger B
Jersey gains full control of North Sea asset with CIECO V&C buy
Jersey Oil & Gas has entered into a conditional sale and purchase agreement to acquire CIECO V&C, which will give it full ownership of a North Sea licence.
Oil price hits highest levels since March over vaccine hopes
Brent crude oil prices reached highest levels since March as news of another promising coronavirus vaccine raised hopes of a quicker recovery in oil demand, while U.S. President-elect Joe Biden received the go-ahead to begin his leadership transition.
Fincantieri to help develop a repair yard in Yucatán State, Mexico
Italian shipbuilding heavyweight Fincantieri has signed a letter of intent (LoI) with the Ministry of Economic Development and Labour of the Yucatán State (Mexico) to design and construct a new ship repair yard. Under the agreement, Fincantieri will be granted a 40-year concession for the exclusive
Aker BP deploys robotic dog on North Sea FPSO
Aker BP and Cognite have partnered to deploy Spot, the quadruped robotic dog, to pioneer the remote-controlled offshore mission on the Skarv installation.
GTT fined €9.5 mln by South Korea’s FTC
French LNG containment specialist GTT has been fined €9.5 million ($11.3 million) by the South Korean Fair Trade Commission (FTC).
Apache employs Rem PSVs in North Sea
Rem Offshore has been awarded a contract and extension for its platform supply vessels from Apache in the UK North Sea.
Tompkins stepping down as Modus CEO
Subsea services player Modus Seabed Intervention said that Jake Tompkins is resigning from his role as CEO of the company. Tompkins is stepping down in order to pursue independent business interests, fulfilling a long-held ambition, the company said in a statement. He will continue in an advisory ca
Tullow plans to generate $7 billion cash flow over 10 years with focus on West African assets
Tullow Oil will focus on its West African producing portfolio as part of its new strategy to generate $7B of operating cash flow in the next 10 years.
RHC: Europe could commercialise green hydrogen faster than current strategies suggest
WindEurope and SolarPower Europe, supported by Breakthrough Energy, have launched a new coalition that is said to give voice to businesses and thought leaders who will be decisive in positioning Europe as the world leader in renewable hydrogen, produced via electrolysis and 100 per cent powered by r