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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 →
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, which was founded in 2016 through the combination BP's Norwegian unit... Continue Reading →
For the offshore wind industry, 2020 was all about ambitions. Policymakers raised the bar for growth, focusing on job creation amid the offshore wind cost-out and the coronavirus pandemic. Renewables targets were raised and decarbonization plans that span the length of the supply chain were brought forward. This momentum is likely to continue in 2021,... Continue Reading →
Royal Dutch Shell's profit last year dropped to its lowest in at least two decades as the coronavirus pandemic hit energy demand worldwide though the company's retail network and trading business helped cushion the blow. The Anglo-Dutch oil major's annual profit slumped 71% to $4.8 billion as its oil and gas production and profits from... Continue Reading →
Outlook for the offshore engineering, procurement and construction (EPC) market in 2021 looks promising, boosted by projects deferred from 2020, according to market research provider Westwood. With a forecast of $29 billion firm or already awarded contracts and a further $16 billion of probable and possible awards, 2021 could, reportedly, match 2019’s $40 billion total.... Continue Reading →
French steel pipemaker Vallourec said on Wednesday it has reached an agreement in principle on financial restructuring with its main creditors. It has filed a request with the commercial court of Nanterre, in greater Paris, for the opening of safeguard proceedings, the company said in a statement. The deal, which reduces its debt by 1.8 billion euros... Continue Reading →
The Administrative Council for Economic Defense (CADE) approved the sale of Total's stake in blocks from Foz do Amazonas to Petrobras. As a reminder, in September last year, the French oil company gave up on the business after successive unsuccessful attempts to obtain Ibama's environmental license for drilling wells in the areas. Petrobras will keep... Continue Reading →
The FPSO Carioca will arrive in Brazil this week, according to Petrobras. The unit will be docked at the BRASFels shipyard in Angra dos Reis. There, the platform ship will go through the latest integration and commissioning activities before leaving for its final destination, the Sepia field, in the Santos Basin. The unit was built... Continue Reading →
After some postponements, Shell receives proposals for the chartering of the production unit of its project in the Santos Basin Modec and the BW Offshore / Saipem consortium submitted a technical proposal for Shell's bid for the chartering of the Gato do Mato FPSO. The delivery of commercial offers will only be delivered on March... Continue Reading →
A collaborative, green solution developed between COSL Drilling Europe, Kongsberg Maritime, and drilling equipment provider NOV is poised to generate environmental and financial savings in offshore drilling operations. COSL Drilling’s ‘Energy Control’ project has been launched as a means of simultaneously slashing greenhouse gas emissions and substantially lowering fuel and maintenance overheads on the company’s... Continue Reading →
