US-based seabed survey and ocean exploration company Ocean Infinity on Tuesday said it had agreed to acquire the Sweden-based subsea survey firm MMT.'Ocean Infinity and MMT are excited to announce an acquisition that brings together MMT’s deep…
Oilfield services giant Baker Hughes and Norway's Akastor on Monday said they would create a joint venture that will bring together Baker Hughes’ Subsea Drilling Systems (SDS) business with Akastor’s subsidiary, MHWirth AS (MHWirth).MHWirth provides advanced drilling solutions and services…
Royal Dutch Shell in Germany aims to produce aviation fuel and naphtha made from crops and renewable power and to increase to commercial scale an electrolysis plant that makes fossil-free hydrogen, as it seeks to move away from crude oil.The…
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…
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…
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…
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…
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…
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…
Italian energy services group Saipem said it was unable to provide guidance for the year due to the ongoing health pandemic after it missed earnings expectations, sending its shares down around 9%.'2021 is certainly not a back to normal year…
Norway launched a consultation on Thursday on a 2021 licensing round in mature areas in which it offered 84 new blocks for petroleum exploration, including 70 in the Arctic Barents Sea.The maps attached to a statement by the Petroleum and Energy…
The Two Towers consortium, comprised of Van Oord, Investri Offshore, and Green Giraffe, on Thursday said that the innovative Borssele Wind Farm Site V offshore the Netherlands had been fully commissioned. Designated an innovation site, Borssele V features two Vestas 9…
UTEC, an offshore energy survey firm, has won a survey contract in Mozambique to support the development of Eni's Coral Sul ultra-deepwater FLNG development. Under the contract, awarded by oilfield services giant TechnipFMC, UTEC will be responsible for pre-lay surveys…