Business & Finance
Aker Solutions to spin off offshore wind and carbon capture tech divisions
As it plans to merge with its compatriot Kværner, Aker Solutions also intends to spin off its wind development business as well as the carbon capture technology business. The move should see two separate companies listed on the Oslo Stock Exchange. “Aker Solutions has developed technology and taken
Wärtsilä points to demand drop in cruise and scrubber investments as COVID-19 hits all businesses
The adverse impact of the COVID-19 pandemic on the Finnish technology group Wärtsilä and markets in which it operates further increased in the second quarter of the year, shrinking demand across the board. The company reported a 19% lower order intake for the first six months of this year, equaling
Port of Helsinki gets EU support for green investment projects
Finland’s Port of Helsinki has received financial support from the EU for port investment projects.
Aker Solutions merging with Kværner, names new CEO
Norwegian firms Aker Solutions and Kværner have entered into a merger plan to create an optimized supplier company. The consolidation will take the form of a statutory merger whereby Aker Solutions will absorb Kværner, in accordance with the Norwegian Public Limited Liability Companies Act. Kjetel D
ENCORE kicks-off with regional impact campaign at Offshore Energy Exhibition & Conference (OEEC) in Amsterdam on 27 October 2020
After a successful start of the Interreg 2 Seas project, the ENCORE consortium is now planning the kick-off of its regional impact campaign at the Offshore Energy Exhibition & Conference (OEEC) in Amsterdam on 27th October 2020. At the OEEC, ENCORE will reach out to the offshore supply chain sector
Vår Energi picks up where it left off with offshore drilling activities
Vår Energi is resuming its drilling activities in the Barents Sea and the North Sea, which were postponed this spring due to the corona pandemic and oil price collapse.
Investors snap up TenneT’s € 1 billion Green Hybrid Bond
TenneT has issued a EUR 1 billion Green Hybrid Bond, from which the proceeds will be used to connect large-scale offshore wind to the electricity grid, with investors showing “keen interest” and the issue being 2.5 times oversubscribed. On 15 July, the transmission system operator priced its EUR 1 b
Offshore Wind Consultants sets up Polish office
Offshore Wind Consultants (OWC) has set up an office in Warsaw, Poland, to support offshore wind development in the Baltic Sea. To head up its new office in Warsaw, OWC appointed offshore wind consultant Lukasz Sikorski. Sikorski previously held offshore engineering roles at DNV GL, as well as site
Deltic Energy rejects takeover offer from compatriot oil & gas investment firm
UK-based Deltic Energy, previously known as Cluff Natural Resources, has received and unequivocally rejected a takeover offer from the compatriot oil & gas investment firm Reabold Resources.
Transocean gets contract termination in UK, expects delays in drillship delivery
Transocean has received a contract termination for its semi-submersible Paul B. Loyd Jr. in the UK. Furthermore, Transocean said that the delivery of the Deepwater Atlas drillship from a Sembcorp Marine yard could be delayed.
Number of oil and gas wells set to hit 20-year low, Rystad says
The COVID-19 pandemic has stymied oil and gas activity, a phenomenon which has now affected the drilling market both in terms of wells drilled and in terms of related demand for drilling equipment.
UK court clears way for widow of Bangladeshi ship-breaking worker to sue tanker company
The UK High Court ruled on Monday, July 13, that the widow, whose husband lost his life while dismantling a supertanker in Bangladesh in 2018, can pursue a negligence claim against Maran (UK) Limited, a British company involved in the ship’s sale. The court said that Maran (UK) arguably owed a duty
SGN working on world’s first offshore wind-powered hydrogen heating project
The UK gas network operator SGN has launched a project that will be world-first to employ a direct supply of offshore wind power to produce green hydrogen energy for heating. The project will start with heating around 300 homes in Fife, Scotland, using clean gas produced by an electrolysis plant, po
Kazakhstan player gets approval to take over Caspian Explorer drilling vessel
Caspian Sunrise has received regulatory and shareholder approvals for the acquisition of the Caspian Explorer drilling vessel.