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Prysmian Profit Falls

February 28, 2015

Prysmian has reported a drop in earnings for the full year 2014.  Italy’s cables manufacturer said its full year adjusted net profit amounted to 186 million euros. Excluding the adverse impact of the Western Link project (€66 million net of tax effects), adjusted net profit would have been €252 million, down approximately 6% compared with… Continue Reading »

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Bilfinger to Install Nordergründe OWF Monopiles

February 28, 2015

Bilfinger Marine & Offshore Systems has won an order for the installation of 19 steel foundations at the new Nordergründe offshore windpark in the North Sea and for the transportation of 18 wind turbines to the installation site. The order from windpark developer and operator wpd in Bremen has a volume of approximately €30 million… Continue Reading »

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Huge Oilfields to Boost Kazakhstan’s Crude Output from 2017

February 28, 2015

Kazakhstan’s currently stagnant oil production is forecast to rise from 2017 after the Central Asian nation’s huge Kashagan oilfield restarts output and the Tengiz project is expanded, a senior energy official said on Wednesday. Kazakhstan, the second-largest post-Soviet oil producer after Russia, lowered oil output by 1.2 percent last year to 80.8 million tonnes. It… Continue Reading »

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Consultancy: Cash Flows From Canada Oil Sands To Fall By $23B In 2 Years

February 27, 2015

Cash flows from the Canadian oil sands will fall by $23 billion and turn negative in the next two years, energy consultancy Wood Mackenzie said in a report on Tuesday, as low crude prices make it less economical to extract tar-like bitumen from the sands. The oil sands of northern Alberta hold the world’s third-largest… Continue Reading »

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Wave Energy Scotland Gets Financial Boost

February 27, 2015

Wave Energy Scotland will receive a total of £14.3 million over the next thirteen months, Energy Minister Fergus Ewing announced today. ‘Wave Energy Scotland’ awarded its first contract to a group of 12 former Pelamis employees, led by former Chief Executive of Pelamis Wave Power Richard Yemm, to capture the knowledge of the Pelamis technology… Continue Reading »

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Gazprom Boosts Export Routes

February 27, 2015

The Gazprom Board of Directors has approved the company’s strategy aimed at diversifying its export routes and increasing the Russian gas competitiveness. It was noted that gas supply alternatives as well as enhanced reliability and safety of supplies were of primary importance to make Gazprom’s products attractive for international markets over a long term. “With… Continue Reading »

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Some Asian Drilling Firms Plan to Carve Niches in Current Downturn

February 27, 2015

As the downtrend in oil prices that began sliding in the third quarter of last year shows little signs of recovery, many companies in the petroleum industry are looking into ways of reviving their business fortunes. Drilling contractors are among those hurt by the downturn in the oil and gas industry as field operators, including… Continue Reading »

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Neptune Wraps Up Ichthys Gig

February 27, 2015

Neptune’s Subsea Stabilisation division has recently completed the structural grouting of the Riser Support Structure (RSS) under contract to a subsidiary of McDermott for the INPEX-operated Ichthys LNG Project. McDermott is the appointed main contractor for the subsea Umbilicals, Risers and Flowlines engineering, procurement, construction and installation portion of the project. Completed offshore in Australian waters… Continue Reading »

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Kemp: Keystone Shows Environmental Review Process Is Broken

February 26, 2015

“Because this act of Congress conflicts with established executive branch procedures and cuts short thorough consideration of issues that could bear on our national interest – including our security, safety and environment – it has earned my veto.” With those words, the president returned the Keystone pipeline authorization act (S.1) to the Senate unsigned, and… Continue Reading »

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McDermott, Petrofac in Subsea Pact

February 26, 2015

McDermott and Petrofac have formed a strategic marketing alliance to pursue top-tier deepwater subsea, umbilical, riser and flowline (SURF) projects. The five-year alliance expects to provide oil and gas companies a competitive, integrated solution across a broad range of complex engineer, procure, construct, install (EPCI) Subsea projects in deep and ultra-deepwater across the US Gulf… Continue Reading »

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