Business & Finance
Creditors allow Seadrill suspension of pay under leases for three rigs
Seadrill has agreed on the suspension of payments with creditors related to leasing arrangements for three drilling rigs while trying to restructure debt.
Awilco LNG amends financial agreements for its tanker pair
Norwegian LNG transportation provider Awilco LNG has agreed to an amendment to the financial covenants in the sale/leaseback facilities for the WilForce and the WilPride.
Norway: October oil output hit by strike action
Norwegian oil production in October 2020 was below forecast by the NPD due to effects of strike action as well as maintenance operations on some fields.
BP sells London HQ for nearly $332 million
Following reports that BP is preparing to sell its London HQ, the oil major has now entered into an agreement for the sale of the HQ for £250.1 million.
TAQA gains approval for decommissioning plans for North Sea topsides
TAQA Bratani has received approval for its drafts decommissioning programs for the Tern and North Cormorant platform topsides, located in the UK North Sea.
Equinor secures life extension for North Sea gas project
Equinor has received consent from Norway’s offshore safety agency for the life extension of the Tune and Tune Sør developments located in the North Sea.
CMA CGM rides the trade recovery wave
French container shipping major CMA CGM posted strong business results in the third quarter of 2020 amid a recovery in demand for transportation of goods which was hit considerably by the COVID-19 pandemic in the first half of the year. CMA CGM reported a revenue increase of 6% year-on-year, reachin
AqualisBraemar to buy LOC in support of energy transition efforts
AqualisBraemar has entered into an agreement to acquire LOC Group, creating an even more complete service provider to the upstream oil and gas industry.
RWE sells 49% stake in Humber Gateway offshore wind farm
RWE has signed an agreement with Greencoat to sell a 49% stake in the Humber Gateway offshore wind farm in the UK. With a 51% share in the project, RWE will remain the majority shareholder and will continue operating the 219 MW wind farm. The agreed cash consideration amounts to GBP 648 million. The
Repsol Sinopec preparing for decommissioning of UK North Sea field
Repsol Sinopec has received approval from the UK authorities for preparation work scopes relating to the decommissioning of the Fulmar and Auk North installations.
Hafnia CEO: Further consolidation needed within the product tanker sector
Product tanker major Hafnia Limited believes that further consolidation is needed within the product tanker sector to fully unleash value and synergies from additional operational scale. Hafnia Limited was set up in January 2019, following a merger between BW Tankers with Hafnia Tankers, a fellow su
Osprey Group bags Moray East OWF contract
The Osprey Group has won a contract to provide handling and storage services for the spare export cable for the Moray East offshore wind farm. Under the contract, the company will receive and store approximately 2,500 metres of subsea cable and approximately 1,500 metres of HDD cable to be received
Seadrill boosts backlog with new deals but plans for recycling spree
Seadrill has added approximately $52 million to its backlog following the end of 3Q and is looking to manage its rig count by recycling some of its rigs.
New managing director for Seatronics
Acteon’s marine technology company Seatronics has appointed Derek Donaldson as its new Group managing director. Donaldson joined Seatronics in 2008 as vice president Asia Pacific, where he established Seatronics Pte as the regions key supplier. Following this success, Seatronics promoted him into th