Leading wind turbine maker Vestas posted an unexpected first-quarter operating loss despite strong sales and a healthy order book, weighed down by project delays as well as higher costs that were partly down to the COVID-19 pandemic.But the…
Aker BP will cut its quarterly dividend payments by two-thirds due to the COVID-19 pandemic and the plunge in crude prices, the Norwegian oil firm said on Wednesday after reporting a better-than-expected first-quarter core profit.Earnings before interest…
Offshore jack-up rig company Seafox has increased its ownership in rival and takeover target Gulf Marine Services to 16.39 percent by acquiring 9,38 million shares in GMS on the market at a price of 10 pence per share on Tuesday.The Dutch company also made a 'no increase' statement…
Norwegian oil firm Equinor is offering to sell its remaining 4.88% stake in Swedish competitor Lundin Energy, bookrunners Morgan Stanley and SpareBank 1 Markets said in a statement on Tuesday.Equinor's sale of up to 14 million shares follows…
Franco-American oil services company TechnipFMC plans to cut up to 700 jobs across its sites in Norway due to the turbulent oil market situation, a spokesman for the company said on Tuesday.TechnipFMC, whose customers include major oil companies…
French energy major Total promised to pay a steady cash dividend and said it can break even with low oil prices after the impact of the coronavirus outbreak and a collapse in fuel demand led to a 35% first-quarter profit fall.It also raised its climate ambitions…
Offshore cable specialist Nexans has extended the charter for the construction support vessel Polar King.News of the extension was shared on Tuesday by GC Rieber Shipping, the owner of the vessel. According to GC Rieber Shipping, Nexans Skagerrak…
Norwegian seismic survey player Axxis Geo Solutions (AGS) has secured a seismic node survey contract with Norway's Equinor.AGS said Monday that the final agreement had been reached following a letter of intent signed in February.The survey is…
Oil and gas output from some of the world's top oil companies is set to drop by nearly 11% in the second quarter of 2020 to levels not seen in at least 17 years, according to Reuters calculations. The output cuts are driven by an unprecedented…
Spain's Repsol reported a 28% fall in first-quarter profit on Tuesday, becoming the latest oil and gas company to show the deep damage done to its balance sheet by the coronavirus laying waste to energy demand.Oil prices fell 65% in the period…
UK-focused oil company Independent Oil and Gas (IOG) has informed that its field development plan for Core Project Phase 1 in the UK North Sea has been approved by the UK Oil and Gas Authority.The Core Project comprises gas resources across six discovered UK Southern North Sea ('SNS') gas fields…
A joint venture between Greek utility DEPA and Italy's Edison is seeking to shortlist two contractors to build part of a pipeline to carry natural gas from the eastern Mediterranean's rapidly developing gas fields to Europe, DEPA said on Thursday…
UK-based ROV provider Rovco has been awarded a long-term contract by CWind for subsea work on the East Anglia ONE offshore wind project.The Rovco team will carry out a campaign of subsea inspection and survey work on all subsea structures, informing…
Awilco Drilling has said that it has reached a deal with Petrofac to delay the start of the plug and abandonment works with Awilco's WilPhoenix offshore rig.Awilco in March announced the rig deal with Petrofac Facilities Management for its 1982…
Norwegian offshore vessel owner Solstad Offshore has entered into medium-term contracts for six of its vessels.The contracts are for a period of 80 to 170 days each with undisclosed clients. The contracts are expected to start around July 1 and the operations are outside the North Sea…
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