Denmark risks not reaching its goal to cut carbon emissions by 70% by 2030 because it is too reliant on unproven technology, an independent council monitoring the effort said on Friday.The Nordic country in 2020 set one of the most ambitious…
Offshore drilling company Borr Drilling expects growth in demand for modern jack-up drilling rigs, supported by higher oil prices coupled with the need to drill more to counter declines caused by years of underinvestment in the oil and gas industry…
Italian oil and gas company Eni has completed the acquisition of a 20% stake in total in the Dogger Bank A & B offshore wind projects in the UK, which are part of the world's largest offshore wind project in development.As previously reported…
Malaysian FPSO company Bumi Armada posted a net profit of RM144.1 million (around $35,5 million) in the fourth quarter of 2020.Bumi Armada said the result was an improvement from the third quarter of 2020 when its net profit was RM85.6 million (USD 21…
Mako Industries signed an agreement with C-Innovation to mitigate the spread of Covid-19 on its offshore construction vessels, beginning with the 168-m Island Venture. Mako uses Puradigm to combat air and surface contaminants safely in populated environments 24/7…
Turkish oil spill response firm MOST Maritime has acquired a Saab Seaeye Falcon ROV to help with the rapid detection of hazardous substances in Turkey’s offshore waters.'MOST Maritime’s emergency response team chose the remotely operated vehicle…
Malaysian state oil firm Petronas fell to a fourth-quarter loss on Friday hurt by lower oil prices and demand.Petronas announced in a virtual briefing a 1.1 billion ringgit ($272 million) loss after tax for the October-December quarter versus a profit of 4…
Australian offshore vessel operator MMA Offshore has won a contract with oilfield services company TechnipFMC to provide tug and barge support for 'a major subsea installation project in Australia.'MMA Offshore which did not share details on what project exactly it would be working on…
London-listed oil and gas company Energean has become the full owner of Energean Israel Limited, a company working to develop the Karish and Tanin fields in the Mediterranian Sea, offshore Israel.As previously reported, Energean in December…
Global liquefied natural gas (LNG) demand is expected to almost double to 700 million tonnes by 2040, Royal Dutch Shell said in its annual LNG market outlook.Demand was 360 million tonnes last year, up slightly from 2019's 358 million tonnes…
Tullow Oil Plc said on Friday it has agreed to a new reserve-based loan of about $1.7 billion with its banks, taking its liquidity to roughly $900 million, including free cash and available debt.The oil and gas company, which has been in talks with creditors…
UK-based SSE Renewables and Spanish Acciona have this week signed an exclusivity agreement to create a joint venture targeting the emerging Spanish and Portuguese offshore wind markets. 'Spain and Portugal have both set net-zero emissions targets…
Solstad Offshore, a Norway-based offshore vessel operator, on Friday said it had won contracts for the vessels Normand Ranger and Far Seeker in Australia.The Normand Seeker, a large AHTS, has been awarded a contract in Australia with the start slated for the second quarter of 2021…
Africa-focused oil and gas company Vaalco Energy has completed the acquisition of Sasol's stake in the Etame Marin block offshore Gabon.The acquisition of Sasol's 27.8% working interest in the Etame Marin block has increased Vaalco's working interest to 58…
Offshore installation contractor Subsea 7 expects its 2021 results to be adversely impacted by costs associated with the Covid-19 pandemic, including more contagious, new variants of the virus.Despite this, the company expects that revenue in 2021 will exceed the 2020 revenue level…
Subscribe
