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BW Offshore, a company mainly known as the operator of FPSO vessels in the oil and gas industry, is creating what it calls "a floating offshore wind champion targeting large-scale projects," following an agreement signed Wednesday to buy into the floating offshore wind tech developer Ideol. BW Offshore last week said it was in discussions with France-based... Continue Reading →
Oilfield services company TechnipFMC on Tuesday said it had completed its spin-off transaction to create two independent, publicly traded companies, TechnipFMC and Technip Energies. TechnipFMC, created in 2017 through a merger between France-based Technip and U.S.-based FMC Technologies, announced its intention to separate into two independent public firms in August 2019 - one focused on upstream activities... Continue Reading →
Norwegian energy services player Aker Solutions has seen its loss widened in the fourth quarter 2020 on impairments and lower activity, which led to some 30 per cent revenue drop. The Oslo-listed company recognised quarterly net loss of NOK 844 million, versus net loss of NOK 129 million in Q4 2019. Revenue for the Q4... Continue Reading →
French oil giant Total, which is working to transform itself into a wider energy industry company, will outpace green energy majors Iberdrola and Ørsted on renewable power capacity by 2030. This is according to analysis from energy intelligence group Westwood. The insight highlights the oil and gas major’s ambitions to reach 100GW of renewable power... Continue Reading →
Subsea boosting could make an immediate increase in production profitably on more than 200 oil projects globally, according to Rystad Energy’s newly launched Subsea Processing Screening Tool. The increase in recoverable reserves for the top 100 projects, out of more than 200 projects identified where subsea boosting would be profitable, averaged 61 million barrels of... Continue Reading →
Another company involved in the oil & gas sector has set its sights on offshore wind, as the industry increasingly moves towards renewable energy amid the global energy transition. The latest to announce its clean energy plans is BW Offshore, which is now in investment discussions with the floating wind company Ideol. The Norway- and... Continue Reading →
(Reuters) - Energy giant Royal Dutch Shell vowed to eliminate net carbon emissions by 2050, raising its ambition from previous targets, as oil output was set to decline from its 2019 peak. The Anglo-Dutch company is in the midst of its largest overhaul yet as it prepares to expand its renewables and low-carbon business in... Continue Reading →
Oslo-listed seismic services company Magseis Fairfield has said it has won a seismic survey contract offshore Angola. The contract, with an unnamed "major international energy company" is for a deep-water Ocean Bottom Node baseline survey (3D). The project is expected to start in Q2-2021 and run for approximately three months. Carel Hooijkaas in Magseis Fairfield... Continue Reading →
TechnipFMC has officially opened its brand new spoolbase in Brazil. The new facility is located in the Açu Port, north of Rio de Janeiro State. According to the company, it will be its most modern spoolbase worldwide as well as an important asset to meet the future demands of subsea projects. With a total area... Continue Reading →
TechnipFMC said on Thursday it plans to wrap up its separation into two independent, publicly traded companies later this month. Namely, the last day of trading of TechnipFMC shares that include the right to receive Technip Energies shares on the New York Stock Exchange and Euronext Paris stock exchange will be 12 February and 15... Continue Reading →
