Business & Finance
Simec Atlantis partners with Investec Bank
Simec Atlantis Energy has appointed Investec Bank as the company’s nominated adviser and sole broker, effective immediately. Also, the company sad that its tidal turbine array recently reached 29GWh produced to the grid. Furthermore, Simec Atlantis through its partnership with ITPEnergised recently
Nexans inks Seagreen 1 export cable contract
Nexans Norway has been awarded a contract for the supply and installation of export cables for the Seagreen 1 offshore wind farm, after being chosen as a preferred supplier in 2019. The Norwegian company will design, manufacture and install three 65-kilometre offshore export cables and three 20-kilo
PGS wields costs axe as market bites
PGS said it will implement further cost reductions as seismic industry takes major hit on Covid-19 and oil market disruption. Specifically, this includes staff reductions, re-organization, consolidation of offices, re-negotiation of service agreements and other cost measures. This should also bring
Premier agrees discount in buying BP’s North Sea assets
Oil and gas company Premier Oil has agreed revised terms for the acquisitions of the Andrew Area and Shearwater assets from British oil major BP.
Borr delays deliveries of five jack-up rigs as part of financial restructuring
Borr Drilling has postponed deliveries of five jack-up rigs until mid-2022.
Eni in major overhaul as it shifts toward renewable energy
Italian energy giant Eni has announced a major overhaul of its business as it steps up efforts toward energy transition. The company will create two business units with one focused on oil and gas called “Natural Resources” and the second new unit which will focus mainly on renewable energy named “En
Dynagas LNG profit climbs
Greece-based Dynagas LNG Partners, a partnership formed by shipowner Dynagas, reported a rise in its first-quarter profit boosted by higher voyage revenues. Net income for the three months ended March 31 increased to $7 million as compared to $1.9 million in the same period in 2019. Dynagas LNG attr
Eidesvik secures more vessel work with Aker BP
Eidesvik Offshore has been awarded a four-month extension to the current time charter party for the platform supply vessel MV Viking Lady with Aker BP.
Shell and Cluff ‘remain committed’ to two UK wells but one well delayed
Shell and Cluff Natural Resources remain committed to drilling the Pensacola and Selene prospects, located off the UK, despite the coronavirus pandemic.
EKF supports Seagreen offshore wind project with £304 million guarantee
The Danish Export Credit Agency (EKF) has provided a £304 million guarantee for the Seagreen offshore wind project in Scotland. EKF is participating in the financing together with the Norwegian ECA GIEK and 12 commercial banks. SSE Renewables recently announced it had taken a final investment decisi
Poland’s PGNiG profit hit by impairments
Poland’s dominant gas firm and LNG importer PGNiG reported a 29 per cent lower net profit in the first quarter, hit by impairments. Quarterly net profit stood at 779 million Zlotys ($196m) when compared to 1.1 billion Zlotys in the January-March period last year. Revenue also declined 4 per cent yea
Archer picked as sole provider of downhole services on Gyda P&A campaign
Archer has been awarded the fishing, milling & wellbore cleaning services for Repsol Norge on the Gyda platform located offshore Norway.
Iberdrola and Enea eye up to 3.3 GW of Polish offshore wind
Poland’s Enea Group and Iberdrola have signed a Letter of Intent (LoI) to jointly develop offshore wind projects in the Polish Baltic Sea with a possible total capacity of up to 3.3 GW. The two companies will now begin negotiations on an exclusive basis to assess the possibility of jointly investing
Seagreen 1 takes off, Total to take majority stake
SSE Renewables has taken a final investment decision to proceed with the Seagreen 1 offshore wind project which will now be taken forward together with the French energy major Total. Total and SSE Renewables have now entered into an agreement through which Total will take a 51 per cent stake in the