Business & Finance
Equinor begins public consultations for UK offshore wind extensions
Equinor has launched the community consultation period for the Sheringham Shoal and Dudgeon offshore wind extension projects off the North Norfolk coast in the UK. This first phase will run from 9 July to 20 August, and feedback is sought for the location of the onshore substation, the underground o
Moody’s: Global shipping outlook remains negative
The outlook for the global shipping sector for the coming 12 to 18 months remains negative, according to Moody’s new report. The key drivers of the negative outlook are a combination of expectations that the global economy will shrink in 2020 due to the impact of the pandemic and the road to recover
New management and investment boost for ROVOP
Aberdeen-based ROVOP has secured new multi-million-pound investment from its shareholders Blue Water Energy and BGF. The investment secures ROVOP’s long-term future and ensures the company can continue to provide its services. In addition to the investment, ROVOP has appointed a new senior managemen
Petrofac wins $135 million worth job in Kazakhstan
Petrofac has secured an engineering, procurement, construction, pre-commissioning, and commissioning contract in Kazakhstan worth approximately $135 million.
New investors enter Acorn carbon capture and storage project
Pale Blue Dot, the lead developer of the Acorn Carbon Capture and Storage (CCS) project, has conducted a corporate restructuring following a strategic investment by multinational independent investment bank and financial services company Macquarie Group.
Equinor picks Aibel for work on Oseberg fields
Norwegian oil major Equinor has awarded Aibel a portfolio agreement for the Oseberg fields for the period 2020-2026.
Watch complex subsea operation of installing Dvalin Xmas trees
Wintershall Dea last December installed three Xmas trees on its Dvalin gas development, which has now moved from the drilling phase to the completion phase.
Rystad expects no new FPSO contracts in 2020 but sees quick rebound next year
Hit by the second industry downturn in five years, global awards for FPSO vessels will likely be limited to a single unit in 2020, Rystad Energy believes.
Poland increases capacity in updated draft offshore wind bill
The Polish government has published a revised draft offshore wind bill which would allow for 5.9 GW instead of 4.6 GW of capacity to be offered via Contracts for Difference (CfDs) by the end of June 2021. According to the Polish Wind Energy Association (PSEW), this 5.9 GW in the first phase of devel
UK well engineering firm adds new operatorship division
UK’s well engineering and project management specialist Fraser Well Management (FWM) has launched a new well operatorship division.
Statkraft to buy electricity from Seagreen offshore wind project
Statkraft has signed a long-term power purchase agreement (PPA) to purchase 50% of the output from the 1,075 MW Seagreen offshore wind project in Scotland. Statkraft said that the deal is the largest in its UK PPA portfolio, which now stands at 10TWhs. “As part of our project financing we required a
Offshore wind third most popular for corporate power purchase agreements in Europe
Offshore wind is the third most opted for energy source for corporate power purchase agreements (CPPAs), according to a survey of the European CPPA market carried out by law firm Fieldfisher. Some 54 per cent of survey respondents said they would consider signing a power purchase agreement (PPA) for
MSC refutes damning claims on its emissions from Transport & Environment’s report
Mediterranean Shipping Company (MSC) voiced its disapproval of the recent findings from a report issued by the European green group Transport & Environment (T&E) which claims the container carrier was the top 7th carbon emitter in the EU. According to the group’s report, MSC overtook Ryanair and two
Burbo Bank Extension Community Fund passes £1 million milestone
Ørsted has awarded ten local organizations around Liverpool Bay, the UK, with grants from the milestone tenth round of the Burbo Bank Extension Community Fund. This latest round takes the total number of projects supported to 126, with total funds awarded now standing at over £1.1 million since the