The European Investment Bank (EIB) has granted a €450 million credit line for co-financing the construction of the Fécamp offshore wind project in France. According to EIB, this is the first such operation it is financing in France, reinforcing the objectives set by its shareholders to make it the E
French company Naval Energies has joined the Offshore Wind California coalition, which gathers offshore wind developers and technology companies supporting a goal of 10 GW of installed offshore wind capacity in California by 2040. “We look forward to working with the Naval Energies team as we advanc
Poland’s dominant gas firm and LNG importer PGNiG has signed a deal with South Korean company LG Chem to deliver chilled fuel and build a small regasification station. The fuel will supply LG Electronics production plant making electric car batteries near Wroclaw, Poland. LG Chem Wrocław Energy, a P
Awilco Drilling has decided to cancel a semi-submersible rig order with rig builder Keppel due to breaches under the construction contract.
BP will be reducing its global workforce by 10,000 this year as part of its plans to make the organization smaller and fit for the energy transition.
Capital expenditure (CAPEX) on offshore wind is expected to surpass upstream oil & gas spending in Europe in 2022, according to Rystad Energy. The oil market collapse caused by the Covid-19 pandemic is set to delay several oil and gas developments in Western Europe, putting capital expenditure in th
Despite challenges caused by the coronavirus pandemic, French container shipping major CMA CGM closed the first quarter of this year with a positive net result.
Connector Subsea Solutions (CSS) has completed the acquisition of Isotek Oil and Gas. The acquisition adds Isotek’s remote welding technology to CSS’s existing range of subsea pipeline repair capabilities which are primarily focused on mechanical clamp and connector pipe joining solutions. The Isote
The chief executive officer (CEO) and director of London-listed oil explorer Hurricane Energy has decided to resign from the company.
Colon LNG Marketing and Tropigas Natural signed a deal to distribute liquefied natural gas via trucks in Panama and Costa Rica. Under the deal, the two companies will supply chilled fuel from the AES-operated LNG import terminal in Colon, Panama to regional customers in the transport, trade, and ene
Engineering and management services provider Penspen has been awarded a contract from an undisclosed oil and gas operator for an offshore natural gas project in Myanmar.
1,400 GW of offshore wind globally by 2050 is entirely achievable considering the resource potential, technology innovation, and government appetite to position offshore wind at the centre of the global energy transition, the Ocean Renewable Energy Action Coalition (OREAC) said. OREAC estimates that
Simec Atlantis Energy has appointed Investec Bank as the company’s nominated adviser and sole broker, effective immediately. Also, the company sad that its tidal turbine array recently reached 29GWh produced to the grid. Furthermore, Simec Atlantis through its partnership with ITPEnergised recently
Nexans Norway has been awarded a contract for the supply and installation of export cables for the Seagreen 1 offshore wind farm, after being chosen as a preferred supplier in 2019. The Norwegian company will design, manufacture and install three 65-kilometre offshore export cables and three 20-kilo
