Business & Finance
North Sea reservoir confirmed suitable for CO2 storage
A North Sea reservoir has been confirmed suitable for CO2 storage, with Wintershall Dea, Ineos, and Maersk Drilling as members of the project.
UK duo backs China’s offshore renewables growth
The TUS-ORE Catapult Research Centre (TORC) has joined forces with the UK Energy Technology Platform (ETP) to support China’s growth in offshore renewables and showcase innovative UK energy transition technologies. A Memorandum of Understanding (MoU) will see the organizations jointly promote the de
Reach Subsea hikes quarterly numbers
Norwegian contractor Reach Subsea has marked its highest quarterly result, despite challenging market and operating conditions, driven by high utilisation and successful project execution. The oslo-listed company has booked third-quarter 2020 profit of NOK 33 million, against profit of NOK 4 million
Risk and barrier management issues found on Equinor FPSO
Norway’s offshore safety agency has found irregularities related to risk and barrier management on the Equinor’s Norne FPSO located in the Norwegian Sea.
Unplanned outage to push EnQuest output below guidance
EnQuest expects its production for the year to be below its guidance range due to an incident and a resulting unplanned outage in Malaysia.
Deltic Energy seeking partners to mature North Sea prospects towards drilling
Deltic Energy has found three prospects within its Southern North Sea licence and is seeking partners to help in the maturation of opportunities.
TEN rejuvenates fleet, keeps steady profit as it pins hopes on market normalization
Greek tanker heavyweight Tsakos Energy Navigation (TEN) has kept a steady course during the rollercoaster year of 2020, having delivered strong business results while pushing forward with fleet modernization plans. TEN’s net income for the three-month period that ended on September 30, 2020 reached
Wintershall Dea sets net-zero goals for upstream ops
German oil and gas company Wintershall Dea has set a goal to achieve net-zero upstream activities by 2030 to tackle the world’s climate change challenge.
Shell, Ørsted buy Dogger Bank A & B electricity
Dogger Bank Wind Farm developers, SSE Renewables and Equinor, have signed four agreements for power offtake for the entire output of the first two phases of the world’s largest offshore wind farm, Dogger Bank A and B. Ørsted and Shell Energy Europe have inked 15-year Power Purchase Agreements (PPAs)
Monjasa bolsters capacity in the Middle East
Danish bunker company Monjasa has acquired an oil and chemical tanker from Golden-Agri Stena to support the increasing demand for its fuel solutions. The 9,600-dwt vessel, formerly known as GS Adventure, has been renamed Monjasa Server and is set to start cargo and bunkering operations in the Arabia
SeaBird joins deep sea minerals hunt
Seismic player SeaBird said it will list its wholly-owned subsidiary Green Minerals on Euronext Growth Oslo. According to the prospectus, the listing should take place during the first quarter of next year. The move is part of a funding plan to raise minimum NOK 30 million from the issuance of new o
Archer nets five-year deal for services on Aker BP platforms
Archer has secured a five-year contract from Aker BP for the provision of platform drilling operations and maintenance services in the North Sea.
Rystad: E&P investments to reach $380B in 2021 but 20 pct at risk of deferral
Investments from global E&P in 2021 are projected to reach around $380 billion, almost flat year-on-year, a Rystad Energy report shows.
IMO agrees to further evaluate $5 billion R&D fund proposal
The IMO member states have agreed to give further consideration to the industry-led proposal for the establishment of a $5 billion research and development fund aimed at accelerating the introduction of zero-emission technologies into the shipping industry. The fund is being proposed as the shipping