Business & Finance
Iberdrola’s offshore wind farms produce 1.1 TWh in Q1 2020
The offshore wind farms developed and owned by Spain-based Iberdrola have produced 1,119 gigawatt-hours (GWh) during the first quarter of 2020. Iberdrola’s total installed offshore wind capacity stood at 1,174 MW on 31 March. In the United Kingdom, the company’s offshore wind farms generated 680 GWh
Heads of agreement reached for IHC takeover
A maritime industry consortium and the existing syndicate of banks of shipbuilder Royal IHC, including the three major Dutch banks, have reached a heads of agreement for the acquisition and refinancing of IHC Merwede Holding B.V.
Seafox tests waters around Gulf Marine Services
Dutch jack-up owner and operator Seafox has placed an unsolicited and non-binding proposal to acquire the Gulf Marine Services PLC (GMS). Seafox made a possible cash offer for the entire issued and to be issued share capital of GMS by a wholly-owned subsidiary of Seafox, at a value of USD 0.09 per G
Innogy looking for apprentice offshore wind turbine technicians
Innogy has launched a recruitment process for a new wind turbine technician apprenticeship dedicated to the Triton Knoll offshore wind farm. The recruitment drive comes as innogy pilots a national apprenticeship hub at Coleg Llandrillo, part of Grŵp Llandrillo Menai, in North Wales, where 30 apprent
Maersk Drilling bags $100 million deal with Equinor
Maersk Drilling has been awarded a contract by Equinor for the drilling of three and plugging of one well on the Martin Linge field offshore Norway.
Lundin lifts output forecast as quarterly revenues grow
Lundin Energy saw its quarterly revenues grow on the back of Johan Sverdrup start-up. As a result of strong performance from the Norwegian fields, Lundin has increased its full-year production guidance.
EMGS in sales agreement for multi-client library in Norway
Electromagnetic Geoservices (EMGS) has entered into a late-sales multi-client licensing agreement for its multi-client library in Norway. The net revenue to EMGS under the agreement is approximately $1.7 million. The majority of the revenue will be recognised in the second quarter of 2020, EMGS said
Subsea 7 plans cost cuts as loss doubles
A comprehensive cost reduction programme is being developed and will be announced in the second quarter.
Valaris books $3 billion loss over rig impairments
Valaris booked $3 billion loss in the first quarter of the year affected by impairments and fleet utilization decline.
Shell’s Q1 LNG sales rise
The Hague-based LNG giant Shell reported a nine per cent rise in its liquefied natural gas sales during the first quarter of this year. Shell sold 19 million tonnes of LNG in the January-March period, compared to 17.51 million tonnes in the same period last year, the company said on Thursday in its
Bright Future Ahead of Royal IHC
A broad consortium of investors and industry partners from the dredging and offshore sectors and the existing international syndicate of banks of Royal IHC, including the three major Dutch banks, have reached a Heads of Agreement for the acquisition and refinancing. This gives Royal IHC, as an impor
Shell cuts dividend as profit tumbles on low oil prices
Shell has decided to slash its dividend after seeing its quarterly profit nearly halved when compared to the last year’s quarter amid a dramatic decline in oil price.
Aker Solutions slips to quarterly loss
Aker Solutions booked Q1 2020 loss of NOK 742 million, against profit of NOK 149 million same time last year. Lower activity levels towards the end of the quarter impacted the results, as operators postponed offshore work to mitigate the spread of the coronavirus. Loss per share was NOK 2.73. Exclud
Equinor bites dust in North Sea well
Norwegian oil and gas company Equinor has drilled a dry well near the Oseberg field in the North Sea off Norway.