Vard Electro, a subsidiary of the Fincantieri-owned Vard Group, has signed an agreement with the German shipyard Lloyd Werft for the delivery of complete automation and power management systems to a Platform Supply Vessel (PSV) currently being converted into a research vessel…
Japan’s Kansai Electric Power Co. (KEPCO) has signed a share subscription agreement with Ireland’s Simply Blue Group’s offshore wind development arm, Simply Blue Energy OSW (SBE OSW).The strategic investment marks KEPCO’s first investment involving…
TotalEnergies reported a 2.4% drop in third-quarter earnings on Thursday, meeting expectations as the French oil major raised upstream production and achieved improved crude refining margins to help offset lower oil prices.Adjusted net income slipped to $4…
Dutch geological data specialist Fugro reported stronger-than-expected core earnings on Friday, but cautioned that worsening conditions in the offshore wind sector and tighter spending by energy firms could weigh on its performance in the final quarter…
Brazil's Petrobras has authorized studies for a logistics center in the Amazonian state of Amapa, where the state-run oil firm started exploring in a promising offshore block last week, state Governor Clecio Luis told Reuters.The company's logistics subsidiary Transpetro will do the studies…
India’s EPC contractor Larsen & Toubro (L&T) has been hired to deliver High Voltage Direct Current (HVDC) converters in support of the Dutch-German transmission system operator (TSO) TenneT’s 2GW offshore wind grid program in the North Sea.Collaborating with Hitachi Energy…
Unique Group, a subsea technology and engineering services firm, has been awarded a multi-million-dollar contract by CCC Underwater Engineering to deliver its Launch and Recovery Systems (LARS).As part of the agreement, Unique Group will deliver…
Russia’s Lukoil has accepted an offer from commodity trader Gunvor Group to buy Lukoil International, the wholly owned unit that holds the oil producer’s overseas assets, following the sanctions and restrictive measures introduced primarily by the United States…
Germany’s Federal Maritime and Hydrographic Agency has issued planning approval for Vattenfall’s 630 MW Nordlicht 2 offshore wind farm in the North Sea, clearing the way for construction to move ahead.The Nordlicht II project will consist of 44 turbines of 15 MW each…
Shell beat third-quarter profit forecasts on Thursday, helped by strong results from its gas division, and said it would maintain the pace of its share buyback programme at $3.5 billion over the next three months.The oil major said adjusted earnings…
Fincantieri, through its subsidiary IDS – Ingegneria dei Sistemi, has signed a memorandum of understanding with Next Geosolutions (NextGeo) to jointly develop unmanned surface vessels (USVs) and related technologies for the oil and gas and renewable energy industries…
Mermaid Subsea Services (UK) has completed a fast-track subsea recovery campaign in the North Sea for a major operator.The operation involved the internal and external severance of casing, conductor, guide pipe and cement lines, as well as local…
The Norwegian Offshore Directorate (NOD) has granted Equinor a drilling permit for a wildcat well in the Barents Sea.The permit is for a wellbore 7018/5-2 in production license 1236.The license is operated by Equinor with 50% stake, with partners…
BP has awarded Oceaneering International and SLB multi-million dollar contracts to support a multi-well subsea intervention campaign at the Azeri-Chirag-Deepwater Gunashli (ACG) oil field in the Caspian Sea, marking the first use of riserless…
Equinor posted a bigger than expected drop in third-quarter profit on Wednesday as oil and gas prices fell, and booked asset impairments on a weaker long-term outlook for crude prices.The Norwegian energy group's adjusted earnings before tax for July-September fell 9…