COVID-19 will continue to skew the floating production systems market for the coming 24 months, while buying power for a large portion of FPSO contracts will be centered in Brazil and Guyana/Suriname. These two areas are expected to account…
BW Offshore, a company known for its FPSO leasing business in the oil and gas sector, is looking to diversify by entering the floating offshore wind space and has started talks with floating wind firm Ideol over a potential investment.The move…
Canada's Cenovus Energy Inc on Thursday forecast higher production and spending for 2021 after its blockbuster purchase of rival Husky Energy, expecting to benefit from a rebound in fuel demand from a slump caused by the COVID-19 pandemic.Cenovus…
Following reports that workers aboard Petronas' Yetagun oil platform off Myanmar were stranded due to a military coup in the country, the Malaysian oil firm said it was working to ensure the safety of those aboard.'Petronas is extending the…
Royal Dutch Shell and renewables firm Eneco, owned by Japan's Mitsubishi Corp, will provide Amazon.com Inc's European facilities with electricity from an offshore wind farm, they said on Monday.Retail giant Amazon, which faces pressure from environmental activists over its carbon footprint…
Offshore wind investments in the European Union and Britain in 2020 were more than double the level projected at the start of the year and should continue to grow in 2021, an industry group said on Wednesday.The record 26.3 billion euros ($31…
Brazil maritime services provider OceanPact Servicos Maritimos has concluded a 1.22 billion reais ($226.51 million) initial public offering, according to a securities filing on Wednesday.OceanPact priced the offer at 11.15 reais per share, at the bottom limit of the indicative range of up to 13…
Four ministers from Japan and Britain voiced serious concern on Wednesday about the situation in the East and South China seas and opposed any unilateral attempts to change the status quo, in a apparent reference to China’s maritime expansion…
Brazilian oil giant Petrobras has sold its 30 percent stake in the Frade offshore oil field to PetroRio. With the completion of the transaction, PetroRio now fully owns the field, located in the Campos Basin, north coast of the state of Rio de Janeiro…
Spain's largest power company Iberdrola said on Friday it agreed to buy a majority stake in a portfolio of offshore wind farm projects currently developed by Irish renewable energy company DP Energy.Iberdrola did not disclose how much it paid…
UK-based oil company EnQuest has agreed to buy Canadian oil firm Suncor's entire 26.69% non-operated equity interest in the Golden Eagle area in the UK North Sea.The area, operated by China's CNOOC, comprises the producing Golden Eagle, Peregrine…
Wind turbine maker Siemens Gamesa on Friday said U.S. President Joe Biden's promise to tackle climate change had boosted the industry's prospects, identifying more openings for itself in an American market transformed by his election.Prior to Biden's victory…
Offshore wind turbine maker MHI Vestas has awarded a contract to the Norwegian offshore vessel operator for the charter of the construction support vessel Normand Fortress.Under the contract, the vessel will support MHi Vestas' Walk-to-work operations at the Triton Knoll wind farm in the UK…
Norway's Aker BP could expand its oil and gas business to other countries if it comes across competitive opportunities abroad, its chief executive told Reuters on Thursday.Any move to invest outside its native Norway would be a change of strategy for Aker BP…
A remote simulation solution for Dynamic Positioning (DP) Induction Courses developed by Kongsberg Digital (KDI) to support training centers worldwide during the COVID-19 pandemic lockdowns has been approved by The Nautical Institute.Since the start of the pandemic…
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