Business & Finance
China’s largest producer of offshore oil & gas moves to make full use of domestic and overseas financing channels
China’s oil and gas giant CNOOC Limited has launched an initial public offering on Shanghai Stock Exchange, raising about $4.4 billion.
UK players join forces to drill in North Sea later this year
i3 Energy and Europa have inked a farm-in deal for a sub-area of UKCS Licence P.2358 containing the Serenity discovery in the UK North Sea.
Wood boss to retire from the role after seven years
UK oilfield services provider Wood Plc has revealed that its CEO, Robin Watson, is retiring from the role.
Norwegian vessel operator promotes two to management team
Eidesvik has decided to fill COO and CTO roles by promoting internally to pursue further growth and position itself as a tech-savvy player.
Valaris rigs embarking on new assignments
Several offshore rigs owned by Valaris are embarking on their new assignments in the Gulf of Mexico, Mauritania, and Brazil.
Petrobras and Equinor add more barrels to Brazilian field output with IOR project start-up
Petrobras and its partner Equinor have started production from the first two wells of the IOR project at the Roncador field off Brazil.
Denmark to harvest full potential of North Sea to ensure independence from Russian fossil fuels
Denmark has decided to speed up its renewable energy production and temporarily boost its gas output from the North Sea fields.
U.S. oilfield services giants book more in revenues, expecting further improvement in 2022
Oilfield services providers Halliburton & Baker Hughes revealed improvements in their 1Q 2022 financial performances on a y-o-y basis.
BayWa r.e. commissions its first floating solar project outside Europe
German renewable energy company BayWa r.e. has commissioned its first floating solar project in the Asia-Pacific region, also the first outside of Europe.
Wärtsilä invests in Marindows to help Japanese shipping market decarbonise
Wärtsilä Voyage, part of the Finnish technology group Wärtsilä, has completed an investment in Marindows, a Japanese company delivering an open digital platform for Japan’s marine industry.
ADES to take over jack-up rig from Maersk
Maersk Drilling has entered into an agreement with ADES to sell a jack-up rig for $42.5 million in an all-cash transaction.
Masdar targets floating solar projects in Kyrgyzstan under new MoU
UAE government-owned Masdar has signed a Memorandum of Understanding (MoU) with Kyrgyzstan’s Ministry of Energy to explore the development of renewable energy opportunities, including floating solar and hydropower, as well as onshore solar PV projects.
With 50 years of operations under its belt, Ekofisk gets another life extension
Norwegian Ministry of Petroleum and Energy has extended ConocoPhillips’ production licenses in the Greater Ekofisk Area.
Recently-launched subsea cable producer signs UK Steel Charter
XLCC has signed the UK Steel Charter, committing to create a new export-led HVDC cable manufacturing industry for the UK. The UK Steel Charter aims to maximize opportunities for the UK economy and UK steel producers by encouraging and promoting measures that can be taken in relation to the procureme