Spending in the upstream oil and gas sector is expected to gradually begin to rise from 2022, however, it will not reach the pre-crisis period any time soon as the toll of the Covid-19 pandemic on upstream investments in the first two years of the downturn is estimated at a whopping $285 billion…
Large Diameter Drilling (LDD), an Acteon company specializing in marine drilling and grouting services, has signed a contract to deliver grouting services for DEME Offshore’s installation of foundations at the Saint-Nazaire wind farm off the coast of the Guérande Peninsula…
Teekay's Petrojarl Banff FPSO completed its final voyage on May 8, 2021, and is now moored alongside the Modern American Recycling Services Europe A/S (MARS) quayside in Frederikshavn, Denmark in preparation for recycling.The decommissioned FPSO…
Sustainable energy developer Invenergy and LNG solutions provider BW LNG have secured a $128.3 million loan from IDB Invest to fund the construction of a floating storage and regasification unit (FSRU), a key part of the Energía del Pacífico (EDP) LNG-to-power project in El Salvador…
Offshore accommodation provider Prosafe has decided to appeal an April 15 ruling by a court in Norway, ordering it to pay 465 million Norwegian crowns to shipyard Westcon for conversion work on one of its floatels, overturning a 2018 ruling in favor of Prosafe…
Australia has stunned the oil industry with a levy to cover the estimated $200 million cost of removing facilities and cleaning up the area around an oil field off northwest Australia after the small company that owned the project collapsed…
Marine seismic data firms that supply data to offshore oil explorers are typically the first among oil industry contractors to bear the brunt of price drops, as their customers, the oil companies, slash expenses and wind down exploration activities while waiting for oil prices to rise again…
Danish offshore supply vessel operator Maersk Supply Service will deploy another vessel to support The Ocean Cleanup in its effort to remove plastic from the oceans.MSS said that this summer the Maersk Trader vessel will join its sister vessel Maersk Tender in the Pacific Ocean…
Europe's biggest wind power group Iberdrola reaffirmed its growth outlook for the full year on Wednesday after reporting rising quarterly earnings supported by rapid building of renewable energy plants and investments in networks.Buoyed by a…
French oil services group CGG posted a 71% plunge in first-quarter core profit on Wednesday, reflecting a year of drastic spending cuts by the oil industry in the pandemic and sending its shares sharply lower.In a call with analysts, CEO Sophie Zurquiyah said the quarter had been slow as expected…
French oil firm Total has extended the contract with the Danish drilling contractor Maersk Drilling for the use of the Maersk Developer offshore drilling rig in Suriname.Total, via its Suriname subsidiary Total E&P Suriname, has exercised an…
The Biden administration on Tuesday said it has approved the nation's first major offshore wind farm, billing it as the launch of a new domestic energy industry that will help eliminate emissions from the power sector.The move, however, was…
Malaysia's Dayang Enterprise has won a contract with Shell's Malaysian subsidiaries for the provision of topside maintenance services offshore Malaysia.Dayang said Monday that the contract value would depend on orders issued by Shell throughout the contract duration…
Oslo-listed offshore heavy transport and wind installation company OHT has received and accepted a firm offer for a USD 135 million Senior Secured Green ECA Credit Facility.The loan was accepted by OHT's ship owing company OHT Alfa Lift AS,…
Public Power Corp. (PPC), Greece's biggest electricity utility, is seeking to form partnerships in offshore wind, a top executive said on Tuesday, as the country works to reduce its carbon emissions.The utility wants to shut down all but one…
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