Austrian energy group OMV posted a net loss for the first quarter due to significant inventory costs and lowered its production target and crude price forecasts in response to tumbling oil demand in the wake of the coronavirus pandemic.OMV said…
From Kazakhstan and Azerbaijan to Nigeria and Angola, oil majors are haggling with national governments over how to share out deep production cuts that add to their pain from low oil prices and depressed fuel sales because of the coronavirus pandemic…
Norway-based Ocean Sun, a developer of floating solar technology, will be granted a new patent for the technology in the U.S.The company on Monday said: 'United States Patent and Trademark Office (USPTO) has informed Ocean Sun that a new patent will be granted in May 2020…
Oilfield services company Archer has completed the refinancing of the company, and said new financing agreement provided 'robust financial foundation.'The Oslo-listed company has come out with available liquidity of more than $90 million and without major debt maturities until late 2023…
Offshore helicopter company NHV has opened a new base in Arnemuiden, Midden-Zeeland, The Netherlands, to support its offshore windfarm activities in the region.NHV will support this project utilizing the H145 aircraft, an Airbus Helicopter 4-tonne-class twin-engine rotorcraft…
All the grand blocks for the Cable Laying Vessel (CLV) ‘Nexans Aurora’ have now been assembled at the hull yard, CRIST, Norway's Ulstein has informed. 'Work tasks such as some steelwork, outfitting, and paintwork now need to be carried out before the hull can be towed to Ulstein Verft…
Oil and gas company Neptune Energy has started a drilling campaign on the Fenja field offshore Norway, with the spud of the first well carried out by the West Phoenix drilling rig.Fenja is Neptune’s first operated development project on the Norwegian Shelf and is estimated to contain 97 million boe…
Norwegian independent oil firm OKEA will ask its bondholders for a waiver of bond covenants and sees a risk of the Yme field development being delayed until 2021, the company said on Tuesday.The firm co-founded by Norway's former oil minister…
Schottel will provide a range of propulsion systems for Louis Dreyfus Armateurs's second wind farm service operation vessel (SOV) the Wind of Hope.The new walk-to-work vessel, a sister vessel to the Wind of Change SOV, is currently under construction…
Dutch offshore installation and construction company has installed what it calls the 'Slip Joint' foundation at the Borssele Wind Farm Site V in the Dutch sector of the North Sea.The Slip Joint is an alternative connection between foundation elements…
A spider-like robot designed for inspection, maintenance, and repair of offshore wind turbine blades has successfully passed its turbine walking test.During the trials, which took place in early March at the Offshore Renewable Energy (ORE) Catapult’s National Renewable Energy Centre in Blyth…
BP's first-quarter profits tumbled by two-thirds as the coronavirus crisis hammered oil demand and the energy major's debt rose sharply as it warned of exceptional uncertainty ahead.London-based BP said it expected significantly lower refining…
Norwegian offshore vessel operator DOF has said Helge Møgster will be resigning from the Board of Directors in DOF ASA following the upcoming ordinary General Meeting, after 18 years in the role as Chairman. He will also resign as chairman in DOF Subsea AS…
Nestlé's UK subsidiary has signed a 15-year indexed fixed price agreement with Danish offshore wind company Ørsted to buy green power from the Race Bank Offshore Wind Farm, off the coast of Norfolk.Nestlé UK will buy the output of 31MW of the offshore wind farm's 573MW total capacity…
Offshore Northern Seas (ONS) exhibition and conference that was supposed to be held in Stavanger, Norway between August 31 September 3, 2020, has been canceled.The organizers of one of the largest gatherings for the international energy community…