Business & Finance
Maersk Decom lands first complete plugging & abandonment job
Maersk Decom has won a contract for the complete plugging and abandonment of Tullow Oil’s Banda and Tiof fields located offshore Mauritania.
Porthos Taps MAN Energy Solutions for Dutch North Sea CCS Project
MAN Energy Solutions has been selected to take part in the Port of Rotterdam CO₂ Transport Hub & Offshore Storage (Porthos) project. The Port of Rotterdam, Gasunie and EBN are jointly preparing a new project in which CO₂ generated by industry in Rotterdam’s port area is captured and stored in empty
TechnipFMC sees ‘unprecedented level’ of inbound orders in 2019, books $2.4 billion loss in 4Q
TechnipFMC saw an “unprecedented level” of inbound orders in 2019, which pushed its backlog to over $24 billion. TechnipFMC booked a loss of $2.4 billion due to after-tax charges and credits.
TechnipFMC Books $2.4B Loss
TechnipFMC has reported fourth-quarter 2019 loss of $2.4 billion or $5.40 per diluted share. The services major has seen the results affected by after-tax charges and credits totaling $2.43 billion of expense, or $5.43 per diluted share. TechnipFMC warned the market on impairment impact prior to rel
Seadrill expects continued offshore drilling market recovery over rest of the year
Seadrill has seen an improvement in the offshore drilling market throughout 2019. Although the pace of the recovery has slowed down at the beginning of 2020, Seadrill expects continued market recovery over the remainder of the year.
CNOOC extends Asco’s North Sea support deal
Asco has been awarded a five-year extension, with options for further six years by CNOOC Petroleum to support all the operator’s North Sea assets.
Hurricane Energy CFO resigns
The chief financial officer and director of London-listed oil explorer Hurricane Energy has resigned via mutual agreement.
Ocean Yield Wins Arbitration Case against Okeanis
Ocean Yield wins arbitration case against Okeanis ECO Tankers.
TSHD Dravo Costa Dorada in Liberia
Van Oord, an international contractor specializing in dredging, marine engineering and offshore projects, has just released this beautiful photo of their trailing suction hopper dredger (TSHD) Dravo Costa Dorada at work in the West African country of Liberia. “At this moment the Dravo Costa Dorada i
Rosmorrechflot to Expand Its Fleet with 20 New Dredgers
Federal Marine and River Transport Agency (Rosmorrechflot) is set to build a series of 20 self-propelled bucket-wheel dredgers at Astrakhan Region based Lotos shipyard (United Shipbuilding Corporation). This information was revealed today by Alexander Poshivay, Acting Head of Rosmorrechflot, at the
Witt O’Brien’s Acquires Crisis Communications Group Navigate
Witt O’Brien’s acquires Navigate.
ENGIE-EDPR Offshore Wind Joint Venture Clears Another Hurdle
The European Commission has approved the acquisition of EDPR Offshore España by ENGIE and EDP Renovaveis. EDPR Offshore España is a Spain-headquartered subsidiary of the EDP Group active in the offshore wind industry globally. The company would be the exclusive vehicle of both parties for offshore w
Saipem Reduces Q4 Deficit; Books €12M Profit in 2019
Italian offshore services player Saipem has reported fourth-quarter 2019 loss of €32 million on revenues of €2.35 billion. This result compares to net loss of €115 million on revenues of €2.47 billion in the prior-year comparable period. Adjusted result was net profit of €74 million, against €8 mill
UK oil major to leave three U.S. trade associations in push for low carbon future
UK oil major BP has said that, following an in-depth review examining the alignment of the climate-related policies and activities of trade associations with BP’s positions, it will leave three U.S.-based organizations in an effort to reach its target of becoming a net zero company by 2050.