Fossil Energy
Plexus to suspend activities with Russian licensee
Scotland’s oil and gas services firm Plexus Holdings has decided to suspend activities with its Russian licensee Gusar until further notice as a result of the ongoing situation in Ukraine. Plexus has a license agreement with Gusar under which the Russian company is able to supply the Russian and CIS
IOG takes final step to first gas from UK project
IOG is finishing the final works required for the start-up of its Saturn Banks Project – Phase 1 to bring it online next week.
Austria’s OMV stops pursuing investments in Russia due to Ukraine crisis
Austria’s oil and gas company OMV is also reevaluating its engagement in Russia following the attack on Ukraine.
Thermoplastic composite pipes significantly more eco-friendly than carbon steel pipes, report says
A report launched by DNV, Strohm, and the Non-Metallic Innovation Centre (NIC) has shown that thermoplastic composite pipes (TCP) have a significantly lower carbon footprint, in the range of 30-60%, than an equivalent carbon steel pipeline solution. The report outlines the results from a joint indus
Norwegian player seals two walk-to-work deals with DOF Subsea
Uptime International has won two contracts with DOF Subsea for the provision of walk-to-work systems on one of its vessels.
In focus: To net-zero and beyond
In recent years we have seen a number of companies active in the offshore energy sector pledging to reach the net-zero emissions status by a certain point in the future. This week we reported on the first time an offshore company had pledged to go ‘beyond net-zero’. The international oil and gas exp
Subsea 7 eyes large contract award after getting FEED study work
Subsea 7 has secured a contract from Equinor for the FEED study for the marine installations associated with the Krafla project off Norway.
UK North Sea flaring reaches lowest level ever recorded by oil & gas regulator
The OGA is encouraged by the record low level of flaring in the North Sea, as it has fallen to the lowest one ever tracked on the UKCS.
Nord Stream 2 operator denies reports about filing for bankruptcy
Following reports that Nord Stream 2 AG has filed for bankruptcy, the Swiss-based company and the operator of the Russian gas pipeline has said it “cannot confirm” such reports.
Ratings of Wintershall Dea on review for downgrade over Russian projects ties
Moody’s has placed ratings of Wintershall Dea on review for downgrade, reflecting downside credit risks stemming from the potential for more severe sanctions against Russian businesses to affect the company’s operations.
More jobs to be created as Bilfinger UK launches new fabrication facility
Bilfinger UK has expanded its presence in the North East with the opening of a new fabrication facility, spurring further headcount increase.
Oil demand to take a severe hit if Russia’s war in Ukraine is prolonged – Rystad
War in Ukraine could result in as much as 1 million bpd of oil demand being removed from the global market, research by Rystad Energy shows.
New batch of contracts for North Star fleet marks its ‘most sizeable order book’ in years
North Star has inked contracts totalling over $133 million, marking its most sizeable ERRV order book in recent years.
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