Siem Offshore expects that more vessels will be laid up

Day rates remain too low in the offshore segment despite an improvement in activity levels, says Siem Offshore. The strained supply company expects to see an increase in the number of lay ups over the winter. Siem so far lost a significant million-dollar figure in 2020.


Vestas CEO: It became merely a question of price

It's far from a market-leading operation of which Vestas now acquires full ownership, but the CEO now wants to look ahead to a growing market rather than dwelling on the past. A new and more competitive wind turbine is meant to help retake the lead.

Equinor doubles deficit


With massive asset impairments, the Norwegian oil company drills itself deeper into a hole. Forward-looking uncertainty is significant, says departing CEO.

MHI Vestas CEO is history


The offshore wind turbine maker's CEO won't be part of the its future now that Vestas has taken over MHI Vestas, and the second-in-command will take over until further notice.

Aker BP anchors with solid profit

Higher oil and gas prices provided some much-needed stability for Aker BP in Q3, with Norwegian tax rebates slightly boosting the bottom line as well.

Shell is back in black

The British-Dutch oil company presents a small third quarter profit following major losses in the second quarter totaling USD 18 billion.

EDPR loses steam across nine quarters

The Portuguese power company presents an interim report showing a decline in revenue, operating earnings and profit for the first nine months of this year.

Vestas acquires MHI Vestas' offshore wind business

Vestas aims to strengthen its position within offshore wind and thus takes over the offshore wind business of MHI Vestas. Mitsubishi Heavy Industries will have a seat on Vestas' board of directors and retain 2.5 percent of nominal share capital in the wind OEM.

GE's wind turbines turn profit in Q3

The US-based wind turbine manufacturer has made a small profit in its renewable energy division but has to swallow its order intake shrinking by more than 20 percent.

Ørsted buys Vestas project

Continued investments weigh down on the result of the utility's onshore wind division, which is making large purchases in both solar and wind projects.

Media reports Siemens nearing billion-euro sale

To avoid internal competition in its wind turbine division, the German industrial group plans to spin off its transmission business rather than, as previously stated, listing it. The sale has prompted a bidding war.

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