The article delves into legal intricacies of declaring force majeure events on existing offshore construction contracts in case of delays caused by the coronavirus pandemic as well as key points to consider when entering new contracts.
Mexico Pacific said Thursday it has engaged Mitsubishi UFJ Financial Group as a financial advisor as it moves towards a final investment decision on its LNG export project. Japan’s MUFG is one of the world’s largest publicly traded financial institutions and Mexico Pacific believes that this move wo
ConocoPhillips is taking further actions to respond to the oil market downturn and it will be making further capital, operating cost, and share repurchase reductions of $3 billion.
The offshore wind industry will need 77,000 GWO-trained on-site workers to deliver forecast installations in six key emerging markets for offshore wind between 2020-2024, a new report has found. Published by the Global Wind Energy Council (GWEC) and Global Wind Organisation (GWO), Powering the Futur
Germany and other European countries would allow cruise lines to pause their repayments of export credit guarantees for one year.
Saipem has decided to withdraw its 2020 guidance, reserving the right to issue a new one should the market conditions improve.
Klaveness Combination Carriers (KCC), part of Norway’s shipping company Torvald Klaveness, has found work for one of its CLEANBU ships.
Finnish technology company Wärtsilä has won a contract to update ECDIS on board 50 tankers that frequently sail in the Baltic Sea.
Norwegian oil major Equinor has awarded a comprehensive and long-term testing contract on the Johan Castberg FPSO to IKM Testing.
Oilfield services provider Petrofac has received a contract termination from ADNOC for the Dalma gas development project in the United Arab Emirates.
Malaysian FPSO provider Yinson has completed an $800 million refinancing deal for the John Agyekum Kufuor FPSO.
Oil major Shell has revealed its plans to become a net-zero emissions energy business by 2050 or sooner.
Australia’s Santos said Thursday it had signed a letter of intent to sell a 12.5 per cent stake in the Barossa project to Japan’s LNG trading giant JERA. The Barossa gas field in northern Australia is being developed to secure feed gas for the Darwin LNG plant in which JERA already has a 6.1 per [&h
Spanish shipping company Baleària wrapped up 2019 with turnover and EBITDA growth of 19 per cent.
