Business & Finance
Wintershall Dea writes off Nord Stream 2 financing over Russia’s attack on Ukraine
German oil and gas company Wintershall Dea has decided not to advance or implement any additional oil and gas production projects in Russia and to write off its financing of the Nord Stream 2 project totaling around €1 billion. In a recent personal statement, Wintershall Dea’s chief executive Mario
TEAMER supports 9 marine energy developers with $900K
The U.S. Testing Expertise and Access to Marine Energy Research (TEAMER) program has selected nine marine energy projects to receive testing and technical support as part of its fifth call for applications.
ConocoPhillips picks up drilling permit for Norwegian Sea wildcat
The Norwegian Petroleum Directorate (NPD) has granted ConocoPhillips Skandinavia a drilling permit for a wildcat well located offshore Norway.
Subsea contractor targets electrification market for oil & gas through offshore wind
Norwegian subsea contractor Havfram has revealed its goal to become one of the future leaders in the electrification market for oil and gas production assets through offshore wind developments. The move comes after Havfram changed its name from Ocean Installer back in December 2020 to reflect its in
ConocoPhillips exits Indonesia assets to focus on low-cost-of-supply options
ConocoPhillips has sold its oil and gas assets in Indonesia for $1.35 bln to Medco Energi in a bid to amass more clean energy sources.
Neptune going ‘beyond net-zero’ in bid to store more CO2 than it emits by 2030
Neptune Energy has set a new target to store more CO2 than is emitted from its operations and the use of its sold products by 2030.
Oil prices jump as sanctions spur supply fears while OPEC+ reconfirms output plans
Oil prices touched a peak of $113 per barrel and eased to $111 on Wednesday amid fears about the impact of Russia’s attack on Ukraine and the resulting sanctions.
Eco Wave Power to relocate wave energy plant from Gibraltar to Los Angeles
Eco Wave Power has outlined plans to relocate its wave energy power plant from Gibraltar to AltaSea’s premises in the Port of Los Angeles.
PXGEO books Eidesvik’s Subsea Viking
Norwegian offshore vessel owner Eidesvik Offshore has won a contract by PXGEO UK for Subsea Viking under the master time charter agreement. The contract will commence ultimo April in direct continuation of the existing standby contract. The firm period is for 100 days with options for extensions. In
Norwegian contractor boasts largest ever delivery after completing another Johan Sverdrup platform
Aibel has completed the construction of the second P2 processing platform for the Equinor-operated Johan Sverdrup project located off Norway.
ExxonMobil joins other majors in ditching Russian projects and investments
Following the footsteps of the European giants, U.S. major ExxonMobil is also looking to exit its position from a project in Russia.
$23B of Russia to UK trade to be disrupted by British ports closure to Russian ships
£17 billion ($23 billion) of annual Russian exports to the UK will be disrupted by the closure of all UK ports to Russian ships, an analysis conducted by data and analytics company Russell Group finds.
Prysmian wins €1.2 billion contract to deliver UK-Germany interconnector
Prysmian has won a contract worth around €1.2 billion to deliver the 725-kilometer NeuConnect interconnector that will directly link the German and UK electricity grids for the first time. The Italian cabling giant will provide the turnkey design, manufacturing, installation, testing and commissioni
SEA-KIT expands production facility to answer growing USV demand
SEA-KIT is expanding its Tollesbury production facility on the UK’s East Coast to deliver on a growing uncrewed surface vessel (USV) order book, with new jobs set to be created. According to SEA-KIT CEO Ben Simpson, the current order book means that the company is moving from one to three production