Business & Finance
CGG narrows loss despite revenues drop
French seismic player CGG has narrowed its quarterly loss despite revenues falling some 26 per cent compared to same time last year. For the quarter ended 30 September, CGG recognised loss of $93 million, against loss of $147 million in the prior year comparable period. Adjusted net loss from contin
EMGS posts third consecutive quarterly loss
Norwegian geophysical services company EMGS has booked its third loss this year as market continues to be very challenging for seismic players. The Oslo-listed firm posted Q3 2020 loss of $4.2 million, versus profit of $5.1 million in Q3 2019. Revenues for the quarter fell at $2.1 million from $26.9
Seismic drags GC Rieber into the red
Norwegian shipowner GC Rieber Shipping has slipped into the red in the third quarter of 2020 on its marine seismic market share. As a result, the Oslo-listed GC Rieber booked loss of NOK 27.5 million, against profit of NOK 17.3 million same time last year. The company had a fleet utilisation of 100
Nexans revenues slip close to 10 per cent
Cabling specialist Nexans has generated third-quarter 2020 revenues of €1.4 billion, down 9.8 per cent versus prior-year comparable period. In the first nine months, Nexans sales came to €4.3 billion, also down 9.8 per cent year-on-year. Nevertheless, revenues were up close to 6 per cent quarter-on-
North East England’s offshore wind supply chain holds 4,500 new jobs
In the next five years, the offshore wind supply chain could create 4,500 new jobs in the North East England, with the turnover of the UK region’s supply chain companies to more than double in their offshore wind activities over the same period. This is according to the Supply Chain Mapping 2020 res
Shell gets extra time to process data for North Sea gas prospect
Oil major Shell has reaffirmed its commitment to drill an exploration well on the Pensacola gas prospect in the UK North Sea.
Maersk Drilling wins new job in Dutch North Sea but loses another one in UK
Maersk Drilling has secured a contract from Petrogas in the Dutch North Sea for the harsh environment jack-up rig Maersk Resilient but it has also received a cancellation for a UK North Sea job.
Prosafe cuts losses despite lower revenues hit by Covid-19 and oil price crash
Prosafe has managed to reduce its quarterly loss despite lower revenues due to lower fleet utilisation and average day rates.
Siemens Gamesa produces 500th offshore wind turbine nacelle in Cuxhaven
Siemens Gamesa has produced the 500th nacelle for an offshore wind turbine at its manufacturing plant in Cuxhaven, Germany. The milestone was reached with a nacelle for the Hornsea Two offshore wind farm in the UK. The offshore nacelle manufacturing plant in Cuxhaven was opened in 2017 and regular o
BP to sell London headquarters for $324 million
Oil major BP is reportedly close to selling its global headquarters in central London for around $324,4 million under an accelerated schedule for the overhaul of the company.
MSC buys six German boxships
Swiss container shipping giant Mediterranean Shipping Company (MSC) has dived into the secondhand market, acquiring six Post-Panamax units.
PGNiG charters Knutsen duo to ferry U.S. LNG to Poland
Polish Oil and Gas Company (PGNiG) has chartered two liquefied natural gas carriers from Knutsen OAS Shipping to transport U.S. LNG volumes to Poland.
CWind done at East Anglia One for this year
CWind has completed this year’s campaign at the East Anglia One offshore wind farm in the UK. Last year, CWind secured a multi-year contract to provide below water services, including subsea inspections of the jackets and offshore substation, corrective maintenance, as well as pre-engineering studie
Global Tech I offshore wind farm refinances non-recourse debt
Global Tech I has refinanced its non-recourse debt, according to Green Giraffe, which acted as a financial advisor to Global Tech I and its sponsors. The refinancing, for which the transaction closed on 2 November, gathered a large sponsor group, led by SWM Stadtwerke München, Axpo Group and ENTEGA