EnergyWatch

Oil & Gas

Denmark sets new completion date on Nord Stream 2

Information sent to the Danish Maritime Authority shows that the operator behind the controversial gas project expects to compete pipe-laying efforts through the country's waters during the third quarter of this year.

Total criticized for handling of dangerous gas leak

Safety should have been better, and communications seemed random during last year's highly dangerous gas leak on the Tyra platform in the Danish North Sea, concludes Denmark's Accident Investigation Board for Offshore Oil and Gas Activities. Operator Total pledges improvements to procedures and practices.

Fredriksen's Seadrill books a deficit of almost USD 5bn

Drilling company Seadrill started 2021 with a deficit four times the size of that in 2019. The strained company continues to be in talks about a comprehensive rescue plan and still awaits approval of its Chapter 11 petition.

Valaris gets rescue plan approved

Valaris receives the court's approval for its rescue plan. With comprehensive support from both bond holders and banks, the rescue plan means that the crisis-stricken drilling company expects to leave Chapter 11 early in the second quarter.

Hempel continues acquisition hunt after challenging year

Coating producer Hempel has had a challenging year on account of Covid-19, though its top line still improved. 2021 began with a new strategy and acquisition, which is the first step toward an ambitious goal to double its revenue.

Rambøll says CCS could halve costs

Danish utility and energy groups' plans to collaborate on transport and storage of CO2 will make the total expenses tied to carbon capture far lower, according to Rambøll's head of waste-to-energy, the idea-maker behind the new C4 cluster.

After historic fall, carbon emissions are now coming back fast

After taking a steep and unprecedented dive in fuel consumption last year due to Covid-19-related lockdowns and travel bans, CO2 emissions are once again on the rise and have been since late last year, show new IEA data, though revealing a few bright spots in green tech adoption.

Borr Drilling lost more than USD 300m amid restructuring

Despite a reduced deficit in the fourth quarter, rig operator Borr Drilling exits 2020 with another deficit of more than USD 300m. The company, which recently secured approval for a rescue plan, still projects a stronger market.

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