Business & Finance
Earnings double for ExxonMobil despite Russia exit
ExxonMobil doubled its quarterly earnings and booked a significant increase in revenues when compared to the last year’s quarter.
Ørsted expects much lower hit from cable protection system issues than anticipated
Ørsted now expects costs to reinstate the integrity of inter-array cables affected by cable protection issues at some of the company’s offshore wind farms to amount to up to DKK 1.3 billion (around EUR 175 million) and not up to DKK 3 billion as initially anticipated. As reported, Ørsted discovered
Dublin firm hands in application for new cross-border interconnector
A Dublin-headquartered company has made an application to Ofgem for a licence that would allow it to participate in the operation of a new subsea and underground electricity interconnector.
Malaysian operator and Thai partner pull out of Myanmar’s Yetagun field
Malaysian Petronas and Thailand’s PTTEP have both decided to withdraw from the Yetagun field located offshore Myanmar.
Chevron sees quarterly earnings spike amid higher oil and gas prices
Oil major Chevron booked a significant increase in its quarterly earnings and revenues driven by higher oil and gas prices.
Xlinks and UK govt discussing CfD for UK-Morocco power link
Xlinks is in discussion with the UK Government about Contract for Difference (CfD) support for the planned interconnector between Morocco and the UK. According to Xlinks, the power project will be capable of supplying 8% of Great Britain’s electricity needs at £48/MWh for 25 years under the current
Dutch operator takes on Maersk rig for North Sea well
Offshore drilling contractor Maersk Drilling has been awarded a one-well extension for one of its jack-up rigs in the Dutch North Sea.
Shell fined for breaching production consents for North Sea fields
UK’s regulator has fined Shell and served it with a sanction notice for breaching production consents for five fields in the North Sea.
UK player to enter Angola following deal for two offshore blocks with Sonangol
Sonangol has inked a deal with the UK-headquartered Afentra for a partial sale of its stake in two blocks offshore Angola.
Hat-trick award to bring $404 million to Seadrill
Offshore drilling contractor Seadrill has secured contracts totalling $404 million for three jack-up rigs in the Middle East.
Basque Country welcomes first floating solar power plant
Emica Bombas, a Biscayan industrial firm with more than a century of experience, has through its subsidiary Emica Solar developed and deployed a floating solar demonstrator plant based on design of a trimaran sailboat.
Chevron inks contract for fresh block off Suriname
Staatsolie and Chevron are expanding their cooperation in shallow offshore Suriname following the signing of a production sharing contract.
Subsea 7 sees growth in revenues, expects tendering activity to remain high
Subsea 7 has reported a revenue of $1.2 billion in the first quarter of 2022, an increase of $197 million or 20% compared to Q1 2021, said to reflect strong growth in the Subsea and Conventional business unit. According to the UK-based company, the increase in revenue is impacted by significant acti
MARIN hires Van Swaay to build its new virtual testing facility for maritime sector
The Maritime Research Institute Netherlands (MARIN) has hired Dutch-based construction company Van Swaay to build its new Seven Oceans Simulator Center (SOSc).