News
Norway to examine competition conditions in oil industry
Norway’s competition watchdog will look into whether competition rules are being infringed in its oil industry, the industry ministry said on Wednesday.
PGS revenues slip, loss narrows in 2Q
Norwegian marine seismic acquisition specialist Petroleum Geo-Services (PGS) has seen a 28 pct decrease in revenues during the second quarter of 2016 compared to the prior-year quarter, mainly impacted by reduction in MultiClient pre-funding revenues. In 2Q 2016, PGS’ revenues decreased by $72.8 mil
Fraunhofer IWES Enables Arkona’s Timely Construction
Fraunhofer Institute for Wind Energy and Energy System Technology IWES Northwest has applied its multi-channel seismic system for surveys that allowed the construction of the Arkona offshore wind project to be on time despite changes to the wind farm design. The modified project plan incorporated 60
Port of Tallinn Issuing Bonds to Buy New Ferries
Estonian state-owned Port of Tallinn and Swedbank have inked an agreement for issuing bonds worth EUR 80 million (USD 88.1 million) which will be used for partial financing of the port’s ferry project. The port did not specify the exact purpose of the loan, but the local media report that the money
Sophia Rescues 20,000 in 13 Months
European naval forces involved in EUNAVFOR MED operation Sophia have rescued 20,000 people in the Mediterranean since the start of the operation in June 2015. Among 20,000 saved lives at sea, there were 1,040 children and 19 babies. 719 migrants were saved yesterday in a joint effort of EUNAVOR MED
Fraunhofer IWES Surveys Enable Construction of Arkona OWF
E.ON and Statoil gave the green light to the construction of the 385 MW Arkona Becken Südost wind farm, 35 km northeast of the island of Rügen. The use of seismic surface surveys made it possible to stick to schedule on the EUR 1.2 billion project despite changes to the wind farm design – 60 turbine
Wikinger Foundations Installation Nearing Halfway Mark
Almost half of the foundations have already been laid at the 350MW Wikinger wind farm, which is being built in German waters of the Baltic Sea, Iberdrola reported today as part of its results for the first half of the year. Iberdrola’s Renewables business unit recorded an EBITDA of EUR 836.5 million
Total responds to ExxonMobil bid for InterOil
Total of France responded to a competing offer made by the U.S.-based energy giant ExxonMobil to acquire InterOil Corporation.
Report: Failed Coup Will Not Delay Bosporus By-Pass Canal Plans
The failed military coup will not delay Turkey’s plans to construct a 48-kilometer ship canal, the Kanal Istanbul, which would serve as a by-pass for the Bosporus Strait, the country’s president Recep Tayyip Erdogan was quoted by Platts as saying. Back in April, the Turkish parliament adopted new le
EU Renewables Industry Calls for Post-2020 Binding Target
European renewable associations have issued a joint statement saying legislative proposals must now deliver on the binding renewable energy target. In October 2014, 28 EU Heads of State agreed that a binding target for renewables should be set at the EU level to meet their collective climate and ene
Rough Sea Ahead for German Offshore Wind, Industry Says
The new German Renewable Energy Sources Act (EEG) means troubled waters for the German offshore wind industry, according to a press release jointly issued by AGOW (Arbeitsgemeinschaft Offshore-Windenergie), Stiftung OFFSHORE-WINDENERGIE, VDMA Power Systems, BWE (Bundesverband WindEnergie) and WAB. T
Lukoil puts ice-class vessels into service at V. Filanovsky field
Russian oil company Lukoil has put into service three ice-class vessels in support of its Caspian Sea oil and gas activities. The vessels Bumi Uray, Bumi Pokachi and Bumi Naryan-Mar, delivered by Bumi Armada, will be used at the Vladimir Filanovsky field in the Caspian Sea. According to Lukoil, Bumi
Worker dies at Hyundai’s yard during Aasta Hansteen construction
A worker has died in an accident at Hyundai Heavy Industries’ yard in Ulsan, South Korea while working on Statoil’s Aasta Hansteen project. According to Offshore.no, a Norwegian-language news website that quoted Stavanger’s Aftenblad, the worker was not employed by Statoil but worked for Hyundai on
ISS: Operations at Turkish Straits Uninterrupted
There has been no impact on operations at the Turkish Straits following the attempted coup in Turkey and all passages are taking place as per schedule, Inchcape Shipping Services (ISS), a maritime and logistics service provider, said. However, vessel clearances cannot currently be granted at Karaden