Business & Finance
Tekmar adds two new management team members
Tekmar Energy, a Tekmar Group company, has appointed Marc Bell as director of Operations and Leanne Wilkinson as finance director. Marc is an industry professional with over 20 years technical and operational management experience. Marc previously held positions as director of Operations with JDR Ca
Hafnia reports best-ever quarterly results, invests in methanol project
Denmark-based shipping company Hafnia has posted a net profit of $97.7 million for the second quarter of the year, claiming the best quarterly result in the company’s history despite uncertainties caused by COVID-19. The company’s net profit for the first six months amounted to $ 174.8 million with
Frontline boasts $200 million Q2 profit, lands major financing deals
Tanker shipping company Frontline booked a net income of $365 million for the first half of 2020, the strongest first half in more than 10 years, cashing in on strong quarterly earnings. For the second quarter, the Norwegian shipowner reported a net income of $199.7 million amid higher charter rates
Awilco LNG posts second-quarter loss
Norwegian LNG transportation provider Awilco reported a net loss for the second quarter of 2020 as the COVID-19 pandemic impacted global economic activity and energy demand.
Sovcomflot’s profit rockets
Russia’s largest shipping company Sovcomflot logged a 149 percent rise in first-half net profit on the back of a strong term contracts portfolio. Sovcomflot reported a net profit of $226.4 million in the January-June period, compared to $91 million a year ago. Revenue increased by 19.8 per cent year
IOG to award North Sea rig contract in coming weeks
Independent Oil and Gas (IOG) expects to award a contract for a drilling rig for its Core Project located in the Southern North Sea (SNS) “in the coming weeks”.
Siemens Gamesa clicks “Refresh” button on its corporate strategy
At its virtual Capital Markets Day held on 27 August, Siemens Gamesa presented “a refreshed” corporate strategy which revolves around tapping into growth opportunities for its offshore wind and services businesses, and driving a turnaround in the onshore market. With strong growth expected in partic
World gets 2.5 GW of offshore wind in first half of 2020
Globally, 2,535 MW of offshore wind was put into operation during the first half of the year, with offshore wind installations reaching 29,839 MW by the end of June 2020, according to World Forum Offshore’s (WFO) H1 2020 Global Offshore Wind Report. The organisation said the figures underline the co
COVID-19 hinders Nordic Shipholding’s merger talks
Discussions on a potential merger between Danish shipowner Nordic Shipholding and an unidentified tanker firm have been delayed due to the impact of COVID-19 pandemic, the company said. “The majority shareholder of the company had commenced merger discussions with a potential entity since late 2019.
Odfjell Drilling acquiring stake in Norwegian floating wind developer
Odfjell Drilling is investing in Oceanwind AS with an aim to acquire a stake that would ensure a controlling position in the Norway-based floating wind company. According to the Norwegian offshore drilling contractor, the move will support it on a path to zero-emissions drilling through projects tha
Gazprom bags VEB funds for Ust-Luga LNG project
Russian giant Gazprom has secured funds from its compatriot development bank, VEB, for its large liquefied natural gas export project in the Baltic port of Ust-Luga.
Greenpeace strikes again in protest against Shell’s Brent decom plans
Greenpeace activists from Germany have launched a protest in the North Sea to call out Shell’s plans to abandon an estimated 11,000 tonnes of oil in the sea.
New team member joins Corpower Ocean in Portugal
CorPower Ocean has appointed Miguel Silva as head of its Portuguese operation. The news comes after CorPower revealed plans for a new EUR 16 million R&D, Manufacturing and Service Centre in Viana do Castelo, Portugal, becoming a core focus for the firm’s HiWave-5 Project with a showcase pilot wave f
Lundin Energy picks new chief operating officer
Swedish oil company Lundin Energy has named a new chief operating officer (COO) of the company after the previous COO was promoted to the chief executive officer (CEO) role.