Japanese oil firm Cosmo Energy Holdings on Thursday cut its net profit estimate for the year to March 31 by 41%, blaming a hefty appraisal loss on its crude inventories and slumping prices of petrochemicals.It now forecasts an annual net profit of 8…
Oil and gas environmental management and compliance services company Tems International has said it has won 'a major contract' for work in offshore Trinidad and Tobago.Aberdeen-based Tems said this week that the contract had started in September…
Australian oil and gas firm Karoon Energy has this week completed the acquisition of a 100% operating interest in the BM-S-40 offshore concession in Brazil from Petrobras.The offshore block in the Santos Basin contains the producing Baúna oil field and undeveloped Patola discovery…
Norway's Kongsberg Maritime said Friday it had during 2020 won contracts for 12 of its Shuttle Tanker concepts, with a value totaling over NOK 400 million (around $43,7 million).Shipyards in South Korea and China are building the vessels, which…
The UK Serious Fraud Office (SFO) said on Thursday it had secured just under 1.2 million pounds ($1.6 million) from a Brazilian national implicated in Brazil's 'Operation Car Wash', the country's biggest bribery investigation that began in 2014…
Norwegian offshore support vessel operator DOF Group has secured a long-term contract for its Skandi Aukra platform supply vessel.The vessel has been chartered by the UK North Sea operator Chrysaor. The charter will begin in December 2020, in direct continuation of its current contract…
Norwegian energy company Equinor has proposed the Port of Albany, in upstate New York, as the first offshore wind tower manufacturing facility in the U.S.'Developed jointly with leading wind industry manufacturers Marmen and Welcon, Equinor…
Norwegian oil and gas firm Aker BP has started up production from the Ærfugl field phase 1 in the Norwegian Sea.Ærfugl, a gas reservoir, holds a total of around 300 million barrels of producible oil equivalents. It is a subsea project being developed in two phases…
Japan plans to introduce tax incentives and create a research fund to support so-called green investment, as the government pushes to meet a target of carbon-neutrality announced earlier this month, the Nikkei newspaper reported.The government…
Sanctions that could hinder one of Moscow's most important projects in Europe, the Nord Stream 2 natural gas pipeline, have been included in the annual U.S. defense policy bill, two congressional aides said on Wednesday.The sanctions in the…
A lawsuit launched by the Nigerian government against U.S. bank JP Morgan Chase, claiming over $1.7 billion for its role in a disputed 2011 oilfield deal, will proceed to trial, London's high court ruled on Thursday.The suit filed in the English…
Ghana has imposed terms and conditions for Italian major ENI and Ghanaian operator Springfield E&P to combine their adjacent oil and gas fields, after the parties failed to reach an agreement, according to a letter from the energy ministry.The Oct…
ABB Marine & Ports has been selected as a technology partner for an EU project exploring the use of remote inspection and maintenance techniques for offshore wind farms. With funding from the biggest EU research and innovation program Horizon 2020…
Norwegian oil firm Equinor has awarded contracts for concept studies for the development of the Wisting discovery in the Barents Sea, off Norway. The studies are expected to further progress the project development towards a final concept select decision…
Australian oil and gas company FAR has agreed to sell its stake in Woodside-operated offshore blocks in Senegal, containing the Sangomar development, to India's ONGC Videsh.FAR has been working to sell its Senegal assets for months, as the company…
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