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GE Appoints Grid Solutions Chief

Feb 18, 2020

GE Renewable Energy has announced that Heiner Markhoff has been named vice-president and CEO of Grid Solutions, effective March 20, 2020.According to a press release, Markhoff has a track record of growth, transformation and operational performance in diverse global businesses…

EU Clears OLT Takeover by SNAM and FSI

Feb 18, 2020

The European Commission has approved the acquisition of OLT Offshore LNG Toscana by SNAM and the UK’s First State Investments International (FSI), under the EU merger regulation.According to the Commission, OLT is active in the management of…

Transocean Drilling Revenues up at $792M

Feb 18, 2020

Transocean, the world's largest offshore drilling contractor, said that its total contract drilling revenues were $792 million (total adjusted contract drilling revenues of $839 million), compared with $784 million in the third quarter of 2019…

Sembcorp in Offshore R&D Pact with A*Star

Feb 18, 2020

The global marine and offshore engineering group Sembcorp Marine and Singapore's Agency for Science, Technology and Research (A*Star) have agreed to deepen their research and development (R&D) collaboration for the offshore marine and clean energy sectors…

Endur Energy Solutions Goes Bankrupt

Feb 14, 2020

Stavanger-based offshore services provider Endur Energy Solutions, a subsidiary of Endur, will file for bankruptcy, on the back of weak results.The parent company Endur in the fourth quarter of 2019 reported a total turnover of NOK 122 million…

Norway: 20 Suppliers Bundled into New Company

Feb 13, 2020

North Sea private equity player, Hitecvision — the firm behind the rise of well-known E&P players and suppliers — has decided to bundle 20 of its oilfield suppliers into a well-capitalized industrial group with other-than-offshore aims.Hitec said the offshore suppliers would live on in a new…

Upstream Cuts 208 deals worth $156Bn in 2019

Feb 11, 2020

Upstream companies cut 208 deals worth $156 billion in 2019, with value up $26 billion year-on-year. However, the number of transactions was 40 percent below the five-year trend, pointed out latest report by Deloitte.That, combined with the…

Upstream Sector Leads O&A M&A in 2019

Feb 11, 2020

A latest research revealed that the upstream sector accounted for the bulk of mergers and acquisitions (M&A) in the global oil and gas industry in 2019, generating some high-value transactions during the process.According to GlobalData's theme report…

TechnipFMC to Take $2.4B Impairment Charge

Feb 11, 2020

Oilfield services provider TechnipFMC said on Monday that it expects to take asset impairment charges of $2.4 billion in the fourth quarter as producers cut spending due to lower prices for oil and gas. TechnipFMC also said it expects 2019 revenue to be near $13…

Harvey Gulf CEO to Remain Until 2027

Feb 10, 2020

New Orleans based offshore vessels company Harvey Gulf International Marine said it has signed an agreement with its CEO, Shane Guidry, to remain at Harvey until January 1, 2027.Guidry commented, “Over the past several years, Harvey Gulf has…

Horns Rev 3 Hosts EU EC

Feb 09, 2020

The new European Commissioner for energy Kadri Simson has visited Vattenfall's 407MW Horns Rev 3 offshore wind farm in the North Sea and the surveillance center at Vattenfall’s service center in Esbjerg, western Denmark.The European Commission…

Unique Group Acquires APAC Marine Unit

Feb 09, 2020

Integrated marine and subsea solutions provider Unique Group has announced the acquisition of the Australian-company Western Advance’s Marine Division.The provider of services and solutions for the offshore, subsea and life support industries…

Vattenfall Steps Up Offshore Wind Market

Feb 05, 2020

Swedish multinational power company Vattenfall said that it had reached a number of important milestones during the year 2019. In Denmark the Horns Rev 3 (407 MW) wind farm was inaugurated, and construction was started on Kriegers Flak (605 MW)…

DeepOcean Moves UK HQ to Feethams House

Feb 03, 2020

DeepOcean, a global subsea services company, is set to move its UK headquarters to a new base in Darlington.The company specializes in engineering and marine works solutions for large subsea cable projects associated with offshore wind farms…

MOL in Restructuring Excercise

Feb 02, 2020

Japanese shipping major Mitsui O.S.K. Lines (MOL) has unveiled a number of new restructuring measures effective April 1, 2020.According to a press release, the  marine transportation provider intends to establish three new divisions and integrate its two tanker divisions to achieve synergy…

Current News

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Fred. Olsen Windcarrier Picks Jack-Up for 1600t Huisman Crane

Japan Identifies 10 Areas for Offshore Wind Projects

Japan Identifies 10 Areas for Offshore Wind Projects

Neptune Strikes Hydrocarbons at Dugong Well, off Norway

Neptune Strikes Hydrocarbons at Dugong Well, off Norway

LLOG Charters Transocean Rig for Shenandoah Drilling

LLOG Charters Transocean Rig for Shenandoah Drilling

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