Subsea 7 increased its revenue with 59 percent compared to 2020, however, it was not enough to keep the balance sheet in the black on the bottom line. The offshore company states that delays and Covid-19 impacted business in the second quarter.
SEB evaluates that the recently restructured Seadrill will have a fair equity value of about USD 1.2bn. Since the news of the restructuring broke over the weekend, the Seadrill stock price has only plummeted.
The Swedish oil firm more than doubles its result from the first quarter after both production and oil prices have received a boost.
After a year of seeing deficits in several quarters, Equinor now maintains the fine form the company came into during the first quarter 2021.
Oil company BP enters a collaboration with Maersk's Center for Zero Carbon Shipping to develop new alternative fuels for shipping.
Shipping lines should invest in green initiatives to future-proof their business, urge German NGO NABU and Dutch asset manager NN Investment Partners. Both of them are looking for investors to transform polluting companies from within.
The major oil and gas firm increased its Q2 profit by 93 percent compared to the same period of 2020.
The wellhead and riser platforms for Tyra East were shipped from Singapore on Monday, and the new schedule for the redevelopment thereby seems to hold, says oil and gas firm Noreco.
Seaspan, Hafnia, Hapag-Lloyd, Euronav and Odfjell have all secured financing of approximately USD 1.5bn that is linked to meeting climate targets. This opens up for more access to capital, but also comes with increased reputation risks, the head of investor relations at Odfjell tells EnergyWatch's sister media ShippingWatch.
Oil headed for the first decline in five days as investors assessed the outlook for demand amid a resurgence in Covid-19 and as broader markets were on a softer footing.
John Fredriksen's strained drilling company Seadrill has settled a comprehensive restructuring agreement with a majority of its lenders, which among other things reduced the company's debt liabilities by almost USD 5bn.
The oil service firm reports a surge in revenue for Q2 on Friday.
The oil firm is poised to establish large-scale hydrogen production in the German North Sea alongside RWE and Gasunie.
Alongside Quaybridge, the British oil firm means to secure more winning bids on offshore wind licenses.
TotalEnergies and Technip, two French energy companies, will collaborate on the development of production facilities that can produce and supply LNG with low CO2 emissions.
The US agrees it will no longer attempt to halt gas pipeline Nord Stream 2 following an extended dispute over the project.
Crude inventories grow for the first time since May.
The Norwegian oil firm books a higher number of personal injuries for Q2 than usual, with the level of serious incidents remaining stable.
Mining giant BHP plans to dial down on fossil fuels, reports Bloomberg News.
The Italian cable maker is to supply umbilical cables to Brazilian state-owned oil firm Petrobras.
The oil giant will not accept the Dutch ruling, which directs the company to reduce its global emissions by 45 percent towards 2030.
Finnish supplier Wärtsilä grew its orderbook in the first half of the year, but this was not enough to pull up the results in an "uncertain" market.
The Norwegian oil firm has opted to ride the wave and submit a bid in the ScotWind license round, which closed on Friday.
The oil exporting nations have found common ground and dial up on production.
Azane Fuel Solutions, a joint venture between Amon Maritime and Econnect Energy, plans to build the world's first ammonia bunkering facility for ships. The facility will be located in Norway.
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