Business & Finance
FSG’s insolvency proceedings set to start in August as sale talks with Pella Siestas continue
The Flensburg District Court will open insolvency proceedings concerning Flensburger Schiffbau-Gesellschaft mbH (FSG) on August 1st, the company said in an update. To remind, the German cash strapped shipbuilder filed for the opening of insolvency proceedings at the local court in Flensburg in April
OKEA takes interest in Equinor’s Aurora discovery
OKEA has signed a sales and purchase agreement with Equinor for the acquisition of Equinor’s 40 per cent operated working interest in two licences offshore Norway, which include the Aurora discovery.
Laytrix appoints new project engineer
Offshore equipment business Laytrix has appointed Mateusz Majtyka as a project engineer within its Darlington based team. A recent graduate in Mechanical Engineering from Newcastle University, Mateusz previously undertook a summer placement within Laytrix developing costing analysis software for dec
Aker Solutions remains positive despite loss
Aker Solutions has seen red in the second-quarter 2020, as revenue dropped some 29 per cent and restructuring charges affected the company’s bottom line. The Norwegian services player booked Q2 2020 loss of NOK 171 million, against loss of NOK 11 million in the prior-year comparable period. This cam
Carbon Trust forecasts 70 GW of floating wind by 2040
The Carbon Trust sees 70 GW of floating wind installed capacity by 2040, according to a new summary report on the findings from the second phase of the Floating Wind Joint Industry Project (JIP). The report outlines technology challenges that need to be addressed in order so the commercialisation of
Norwegian ship recycling major takes over Kleven Verft
Norway’s ship recycling firm Green Yard has taken over compatriot Kleven Verft, which filed for bankruptcy early this month after losing a loan deal. A Kleven spokesperson confirmed to Offshore Energy-Green Marine that the takeover agreement has been reached with the bankruptcy estate and the banks
Record output lifts Aker BP profit
Aker BP booked a higher profit in 2Q 2020 on the back of record-high production despite lower income impacted by low oil prices and the coronavirus pandemic.
Russia’s Gazprom hit hard in first quarter
Russian gas giant Gazprom posted a net loss in the first quarter of this year mainly due to lower prices and demand in Europe, and a weak rouble. Gazprom reported a net loss of 116.2 billion Russian roubles ($1.6 billion) in the January-March period. This compares to a profit of 535.9 billion rouble
Head Energy wins Brage extension with Wintershall Dea
Head Energy has been awarded an extension of a frame agreement with Wintershall Dea concerning modifications at the Brage platform offshore Norway.
Global Maritime, Cathie team up for jack-up ops
Global Maritime and Cathie have entered a partnership that will see the two companies bringing a holistic jack-up consultancy solution to the offshore wind industry, according to a press release from Cathie. The two companies will combine their expertise in offshore geoscience and engineering consul
Equinor hits minor oil discovery near Vigdis field
Equinor has made a minor oil discovery near the Vigdis field in the North Sea offshore Norway.
BNEF: Offshore wind financing skyrockets in 2020
Offshore wind financings in the first six months of 2020 totaled $35 billion, up by a record 319% year-on-year, according to BloombergNEF (BNEF). The BNEF data shows that offshore wind had by far its busiest half-year ever for final investment decisions, well above 2019’s record full-year figure, a
Dutch operator curbs gas production from North Sea field over low prices
Dutch operator Tulip Oil has reduced its gas production from the Q10-A gas field located in the Dutch sector of the North Sea due to low gas prices.
Vattenfall plans new wind farm offshore Sweden
Vattenfall is investigating the possibility of developing a new offshore wind project in Sweden called Kattegatt Syd. The Kattegatt Syd project is located at a circa 177km2 area approximately 25km offshore Falkenberg, north of the planned Stora Middelgrund offshore wind project. The site is situated