Iran seized a South Korean-flagged oil tanker in the Strait of Hormuz hours before announcing it would increase its nuclear activities, as tensions in the region mount in the final days of Donald Trump’s presidency. The Islamic Revolutionary Guard Corps said it detained the…
Dutch marine contractor Boskalis has acquired all the shares of Rever Offshore’s subsea services business. Rever, formally known as Bibby Offshore, provides solutions in the area of subsea construction, inspection, repair and maintenance. The company has historically operated in the North Sea out…
BW Offshore has signed an extension agreement with Eni subsidiary Nigerian Agip Exploration Ltd for the Abo FPSO until the end of 4Q 2021. The contract includes options until 2Q 2023. The Abo FPSO has operated at the Abo field offshore Nigeria since…
Siemens Gamesa has signed its first wind power project in Ethiopia with state-owned electricity company Ethiopian Electric Power (EEP),strengthening its leadership in Africa as the country begins to expand its green energy capacity to meet ambitious renewable targets. The 100MW Assela wind farm will…
Sharjah National Oil Corporation (SNOC) has started production from Mahani gas and condensate field in the Area B concession of Sharjah. The start-up is the first step in the further evaluation of the January 2020 onshore discovery. Production – expected to increase progressively…
BaFin issues new rules as UK (re)insurers lose EU passporting rights Germany’s Federal Financial Supervisory Authority (BaFin) has issued new rules preventing UK-headquartered (re)insurers from carrying out cross-border activities in Germany after the Brexit transition period ends. Industry slams “no use to us” Brexit…
Venezuelan oil exports plummeted last month as US sanctions have left some of the South American country’s cargoes stranded in Asia and competition with fellow OPEC+ members is set to heat up. A linchpin of the Venezuelan economy, the sales slumped by about half…
Indonesian authorities have approved the first plan of development (PoD) for the Kali Berau field development located in the Sakakemang block managed by Repsol. Indonesian upstream regulator SKK Migas said last week that the government approved the first POD for the Sakakemang Kali Berau…
An international consortium led by Total and the Egyptian Natural Gas Holding company (EGAS) have signed an exploration and production agreement for the North Ras Kanayis Offshore block in the Herodotus basin, offshore Egypt in the Mediterranean. This 4,550-sq km block extends 5-150 km…
Gazprom has begun supplying gas to Serbia, as well as to Bosnia and Herzegovina, via a new route across Turkey and Bulgaria. Gas from Russia is transmitted by the TurkStream offshore gas pipeline and further across Turkey. It is then brought via Bulgaria’s…
