News
Russia: NCSP Group Continues Implementation of Investment Program
Novorossiysk Commercial Sea Port Group announces its unaudited consolidated financial results for nine months ended 30 September 2011 in accordance with International Financial Reporting Standards (IFRS). NCSP Group continued implementation of its investment program, aimed at construction of new and
Spain: Repsol Buys 10 Percent of Its Shares from Sacyr
Repsol has acquired 10% of its share capital after the Board of Directors unanimously approved this acquisition on December 18th. The decision communicated by Sacyr’s lending banks to not refinance the loan granted to Sacyr for the acquisition of a 20% stake in Repsol, or the decision to partly refi
Russia: Gazprom Reviews South Stream Progress
The Gazprom Board of Directors took notice of the information on the current state and the progress with the South Stream gas pipeline construction. The meeting participants underlined that the project was progressing on schedule. Commissioning of the first string of the gas pipeline is scheduled fo
Russia: Zvezdochka Shipyard, Wartsila to Sign Joint Venture Agreement
Russian Zvezdochka Shipyard and Finland’s Wärtsilä are intending to sign a joint venture agreement in February-March 2012. Relying on its propeller production, Zvezdochka Shipyard will establish a center of propulsion systems manufacturing. The center will combine the production capabilities of the
The Netherlands: Dockwise Announces Twelve New Awards
Dockwise Ltd. today announces twelve new awards totaling USD 55 million, of which six, to the value of more than USD 15 million, are for execution in Q4 2011. The remaining contracts are for execution in 2012 and 2013. Furthermore the company has entered into a Master Service Agreement (MSA) with Ke
Finland: Wartsila Makes Management Board Appointments
As regulatory developments have become an increasingly important strategic driver for Wärtsilä businesses, Wärtsilä has decided to strengthen its activities to enhance and promote the policy framework fostering the strategic business targets. The following appointments have been made within Wärtsilä
Italy: Eni Names Umberto Vergine as New COO of Gas & Power Division
Eni announced that Umberto Vergine has been appointed Chief Operating Officer of Eni Gas & Power Division, starting from 1 January 2012. Umberto Vergine was born in Milano in 1957 and he is a Chartered Civil Engineer from Politecnico di Milano. Umberto joined Eni in 1984 and he will replace Domenico
Foster Wheeler Lands Contract for EGSP in Scotland
Foster Wheeler AG announced today that a subsidiary of its Global Engineering and Construction Group has been awarded an engineering, procurement and construction management contract by BP Exploration Operating Company Limited for BP Exploration’s Enhanced Gas Separation Project (EGSP) in Scotland.
Wave Hub Secures its Future (UK)
The offshore marine energy project in Cornwall, which allows developers to test new wave energy technology, will be taken on by the Government to secure its future as a vital part of the UK’s green energy sources. The Department for Business Innovation and Skills (BIS) will take over ownership of th
Nordic Yards Plans to Hire 40 Apprentices in 2012 (Germany)
Nordic Yards, manufacturer of technologically sophisticated and innovative special ships and maritime structures, will hire 40 new apprentices next year. They will start in three different job types in Wismar and Warnemünde in September 2012. At the same time, the company will also offer contracts t
TAQA Names Launch Customers for Bergermeer Gas Storage (The Netherlands)
Abu Dhabi National Energy Company PJSC (TAQA), a global energy company majority owned by the Abu Dhabi Government, and partner EBN B.V., an independent company with the Dutch State as its sole shareholder, announced three launch customers for the Bergermeer Gas Storage facility in the Netherlands. S
Gazprom BoD Approves Investment Program (Russia)
The Board of Directors approved Gazprom’s Investment Program, Budget (Financial Plan) and Cost Optimization (Reduction) Program for 2012. Pursuant to the approved Investment Program for 2012, the total amount of investments will make up RUB 776.648 billion. At the same time, the amount of capital in
TK Bremen Ran Aground on Beach in Erdeven, France
The TK Bremen ran aground 100 meters from the Erdeven beach, plague de Kerminhy, between Lorient and the Quiberon peninsula, approximately ten miles from Auray on December 16. The nineteen crew members were evacuated by a helicopter of the naval aviation base of Lann-Bihoué. The ship did not carry c
Scotrenewables’ SR250 Achieves Full Power of 250kW (UK)
A further testing milestone was achieved when the SR250 was put through its paces in a first full-power tow test. On 7th December the multicat MV Orcadia towed the SR250, north of Kirkwall harbour, achieving full-power of 250kW for the first time. Scotrenewables CTO Mark Hamilton stated “Tow trials