Offshore vessel operator Olympic Subsea said Wednesday it had struck a deal with a majority of its bank lenders for a restructuring of the financial indebtedness of the group. The terms of the transaction will result in a reduction in annual debt service…
General Electric Co's plan to spin off energy units into a standalone company could attract investors looking for a well-known name in renewables if they can overlook legacy fossil-fuel operations, financial experts said.Earlier on Tuesday,…
Colombian majority state-owned oil company Ecopetrol's third-quarter net profit surged to 3.81 trillion pesos ($983.4 million) on higher crude prices and structural changes implemented to meet recent industry challenges, the company said on Tuesday…
France-based offshore cable manufacturer and installation contractor Nexans announced Tuesday it has officially opened its transformed high voltage subsea cable plant in Charleston, S.C.From the Charleston facility Nexans will deliver subsea cables up to 525kV HVDC and 400kV HVAC…
Brazilian President Jair Bolsonaro reiterated on Monday that he would like to privatize state-run oil company Petroleo Brasileiro SA, saying his ideal plan would be to carve it up rather than selling it to one buyer.Grappling with the political fallout from rising fuel prices…
Germany-based offshore wind turbine foundation builder EEW Special Pipe Constructions will construct 176 monopiles for Dominion Energy's 2.6GW Coastal Virginia Offshore Wind (CVOW) project, the largest offshore wind project in development in the U…
Qatar Petroleum raised the official selling prices (OSP) of its marine and land crudes in December, a pricing document posted on its website showed on Tuesday.Qatar marine was set at a premium of $2.20/barrel over the Dubai/Oman crudes average and Qatar land was priced at a premium of $2…
A group of U.S. Senate Republicans said on Monday they had introduced legislation that would impose mandatory sanctions on Nord Stream 2, a Russian-backed natural gas pipeline that opponents believe would be harmful to U.S. allies in Europe…
Ghana's deputy energy minister said on Tuesday that he recognizes the need for an energy transition but still strongly believes that gas will be an important source of energy going forward.Ghana discovered oil in 2007 and began production at the end of 2010…
A senior executive for Norwegian oil company Equinor said on Tuesday that the 'the clock is ticking' to achieve an energy transition away from hydrocarbons.'If we don't take action, we'll end up losing out,' Equinor's Senior Vice President for…
Japanese offshore drilling firm Japan Drilling Company has said that one of its jack-up drilling rigs has started a drilling operation in Vietnam.The rig, HAKURYU-11 rig has kicked off the drilling operation based on a subcontract with PetroVietnam Drilling & Well Services Corporation…
David Wells, CEO of offshore energy and marine consultancy AqualisBraemar LOC will retire at year-end and step down as CEO of the group. The board of directors has appointed Wells’ co-founder and current COO of AqualisBraemar LOC, Reuben Segal…
Malaysia's state energy firm, Petroliam Nasional Berhad (Petronas), said on Tuesday it has partnered with a Malaysian unit of Exxon Mobil Corp to jointly explore opportunities in carbon capture and storage (CCS) technologies in a bid to decarbonize the country's upstream industry…
Polish state-controlled utilities PGE and Tauron Polska Energia are seeking regulatory approval to create a joint venture to develop offshore wind projects, the companies' representatives told Reuters on Monday.PGE and Tauron, both major power generators and distributors in Poland…
International Maritime Industries (IMI), which describes itself as the largest maritime yard in the MENA region, has signed a Joint Venture Agreement with Zamil Offshore to deliver Offshore Support Vessel (OSV) building and maintenance, repair…