Business & Finance
Prosafe still negotiating with lenders as forbearance agreement expires
Regardless of the recent loan forbearance agreement extension expiring, Prosafe is still in discussions with lenders to find a long-term financial solution which would stabilize operations.
TenneT to raise its annual RE connection investments to up to € 5 billion
TenneT will raise its investment in renewable energy connections to EUR 4 to 5 billion per year, the transmission system operator (TSO) said in a press release from 31 July, also reporting a 30% increase in its investment agenda in the first half of 2020. The TSO, operating in Germany and the Nether
Airborne Oil & Gas names chief financial officer
Airborne Oil & Gas, a provider of Thermoplastic Composite Pipe (TCP), has promoted William de la Motte to chief financial officer (CFO) following six months as interim finance director. William de la Motte started his career at Dutch trading company Ceteco in the Americas, where he stayed for 13 yea
German offshore wind to hydrogen project takes off
Ørsted and its partners have secured funding for the Westküste 100 renewable hydrogen project in Germany. The partners received funding confirmation from the German Federal Ministry of Economic Affairs and Energy as the first large-scale hydrogen project in Germany within the Reallabor (real-world l
MPS sets new crowdfunding goal after raising £1.5 million
Swansea-based Marine Power Systems (MPS) has hit a £1.5 million crowdfunding target in just two weeks since its launch and is now over-funding. The campaign, set up at the London-based equity crowdfunding platform Seedrs, now has a goal of reaching £2 million. Specifically, these funds should suppor
EnQuest to operate Bressay field as Equinor halves interest
Equinor has agreed to sell a 40.8125 per cent interest in and transfer operatorship of the Bressay oil field development on the UK continental shelf to EnQuest.
Floatel to book nearly $400 million in impairment charges
Floatel International will book impairments of nearly $400 million for the second quarter of the year due to impairments of its vessels made amid challenging market situation.
Green light for Equinor to use Maersk rig on Martin Linge field
Norwegian oil major Equinor has received safety consent from the country’s offshore safety watchdog to use the Maersk Intrepid jack-up rig on the Martin Linge field offshore Norway.
Equinor comes up dry in Barents Sea well
Equinor has drilled a dry well near the Johan Castberg field in the Barents Sea offshore Norway.
UK boasts improved production efficiency for seven years in a row
Production efficiency on the UK Continental Shelf has improved for the seventh consecutive year and for 2019 reached 80 per cent.
Hohe See and Albatros come through for EnBW
German energy company EnBW’s Renewable Energies segment more than doubled its operating result in the first six months of 2020, mainly due to the Hohe See and Albatros offshore wind farms coming into operation. The company’s renewables segment reported an operating result (adjusted EBITDA) of € 426
Eni slips to loss, cuts capex
Eni went from a profit in the second quarter of 2019 to a loss in the same period this year hit by the combined effects of the coronavirus pandemic and the oil price crisis.
Shell books $18 billion loss on huge impairment charges
Shell booked a loss of $18.1 billion in the second quarter of 2020 due to huge impairments as it cut its price outlook in response to the coronavirus pandemic and the oil price crisis.
ICPC welcomes new general manager
The International Cable Protection Committee (ICPC) has appointed Ryan Wopschall as its new general manager. Active in the ICPC as a member-company representative and speaker since 2010, Wopschall brings to the organisation deep knowledge and experience regarding protection of submarine cables, whic