More than 200 European oilfield service providers face bankruptcy
More than 200 European mid- and small-sized oilfield service companies face insolvency as Covid-19 will hit the market hard and cut purchases by USD 5 billion year-on-year, a new analysis by Rystad Energy shows. In pre-coronavirus...Read more
US offshore wind investments could overtake offshore oil and gas by 2025
Offshore windInstalled offshore wind capacity in US waters could reach 20GW by 2030 and annual investments in the sector could surpass USD 15 billion by the mid-2020s. That would mean capital expenditure in US offshore wind...Read more
Kvaerner reports high revenues but warns for lower rates in 2020
Norwegian EPC-contractor Kvaerner has booked high revenue and order intake in the third quarter of 2019. However, CEO Karl-Petter Løken warns of a poorer year ahead. Kvaerner’s revenue increased sharply from USD 185 million in the...Read more
TechnipFMC’s orderbook skyrockets in second quarter
TechnipFMC has booked record inbound orders in the second quarter of 2019, with total company orders reaching a value of USD 11.2 billion. CEO Doug Pferdehirt contributes the success to TechnipFMC’s fully integrated EPCI solutions...Read more
Jack-Up Barge to aid Van Oord at Deutsche Bucht
Offshore windJack-Up Barge has signed a new contract with Van Oord to aid the Dutch offshore contractor in the construction of the offshore wind farm Deutsche Bucht. As part of the “Balance of plant” contract, Jack-Up Barge...Read more
Boskalis wins new offshore wind contract from Ørsted
Offshore windBoskalis has won a new offshore export cable installation contract for the Hornsea 2 offshore wind farm. The contract with a value greater than 100 million euro was awarded by Ørsted Wind Power and consists...Read more