News
Deloitte: Infrastructure deals brewing in UK North Sea
The North Sea will see a rise in infrastructure deals this year, with private equity funds playing an increasing role in midstream assets, according to business advisory firm Deloitte. Against the backdrop of a low oil price, more oil and gas companies are looking to rationalize their portfolios and
Global gas prices to remain under pressure
Over the past two years, weakening fundamentals and much lower oil prices have resulted not only in lower gas prices but also in strong convergence across regional benchmarks, the International Energy Agency (IEA) said. In the first five months of this year, the average differential between Asian LN
IEA: market rebalancing will take longer for gas than for oil
The process of market rebalancing is likely to take longer for gas than for oil, according to the International Energy Agency (IEA). While the IEA expects global oil markets to start rebalancing in 2017, it does not foresee oversupply in traded gas markets improving meaningfully before the end of th
Swire Blue Ocean to Install Beatrice’s Turbines
Swire Blue Ocean has signed a contract with Siemens to provide a wind farm installation vessel for the installation of 84 Siemens 7MW wind turbines at the Beatrice offshore wind farm. The company said the latest contract adds to the pipeline of projects that it has secured for its fleet of wind farm
Norway: Another breakdown in collective pay talks
Another round of oil and gas industry collective pay talks in Norway, and another breakdown. The fourth, and final round of collective pay talks held this week between employers and workers employed in the oilfield services sector have hit a standstill. Namely, the Norwegian Union of Energy Workers
Shell Announces Stronger Focus on New Energies
Shell plans to establish a New Energies business as part of future opportunities that company wants to take advantage of, according to an update on Shell’s strategy provided by the company’s CEO, Ben van Beurden. Van Beurden defined three categories of Shell’s portfolio priorities: cash engines, gro
Van Oord, Highland Group Team Up for Deutsche Bucht OWF
Van Oord and Highland Group Holdings Ltd. have signed a cooperation agreement for the development, financing and construction of the offshore wind farm Deutsche Bucht in Germany. The two companies intend to participate in the equity for the offshore wind farm. Financial close is scheduled for the fi
Van Oord, Highland Group Team Up for Deutsche Bucht OWF
Van Oord and Highland Group Holdings Ltd. have signed a cooperation agreement for the development, financing and construction of the offshore wind farm Deutsche Bucht in Germany. The two companies intend to participate in the equity for the offshore wind farm. Financial close is scheduled for the fi
Spotted: Giant MSC’s Boxship Docks in Polish Gdansk
MSC Maya visited on June 2 the Port of Gdansk, becoming the biggest containership ever to visit the port. The ship’s design enable it to carry nearly a thousand containers more than the Triple-E class vessels which called at Gdansk’s port before. MSC Maya, operated by the Mediterranean Shipping Comp
Blyth OWF’s Tech Significant Step in Evolution of OW Industry
RenewableUK has welcomed the announcement that EDF Energy Renewables (EDF ER) is to start work on the Blyth offshore wind farm. The implementation of innovative new technology, such as 66 kilovolt cabling and concrete gravity base foundations for the first time in British waters, are significant ste
Pay talks continue in Norway
Oil and gas industry pay talks in Norway continue this week. This week’s negotiations are being held on the oil service sector pay settlement, which covers some 6,000 employees at various companies in this sector. “The parties have submitted their demands today and, given the position facing the ind
BAM In Charge of Blyth OWF’s Gravity Base Foundations
Royal BAM Group has been awarded a contract for the Blyth Offshore Wind project by EDF Energy Renewables to design, fabricate and install five full-size gravity base foundations, first of their kind to be built in the world, according to the company. The foundation design will utilise ‘self-installi
Shell upgrades BG synergies expectations. Focus on doubling deepwater output
Oil giant Shell on Monday updated „synergies target“ coming from the acquisition of the BG Group. Also, the company said its focus in the upcoming period would be on capital efficiency, and its production in deep water areas. At the capital markets day, Shell CEO Ben van Beurden said the mega-merger
EDF Decides to Build Blyth Offshore Wind Farm
EDF Energy Renewables will build a new offshore wind farm off the coast of Blyth in Northumberland. Onshore construction work has already begun and offshore work will start in 2017. The wind farm will comprise five turbines, totaling 41.5MW in capacity. The project has permission for a maximum total