Borr Drilling Ltd has announced a binding tender agreement to offer to purchase all outstanding shares of Paragon Offshore Ltd. Total acquisition price is estimated at US$232.5 million. The Borr board of directors has approved the transaction and major shareholders have expressed support for…
Canadian Solar Inc, one of the world’s largest solar power companies, has announced that it has completed the sale of a 142MWp solar portfolio to Greencoat Solar II LP (“Greencoat Solar”), managed by Greencoat Capital LLP (“Greencoat”). The solar portfolio consists of 24 operational…
Bangladesh Exploration & Production Company Ltd (Bapex) has selected a joint venture drilling and services contractor from Azerbaijan to drill two exploration wells and one appraisal well. Socar AQS will drill onshore wells in Bangladesh designated Semutang Dakkhin 1, Begumganj 4, and Modarganj 1….
The first new oil refinery to be built in Turkey in 30 years will start up in the third quarter of 2018, the builder and operator Azeri state energy firm SOCAR said on the 22nd February. The US$6 billion Star refinery will supply feedstock…
Norwegian shipping company Siem Offshore expects rates in the North Sea offshore support vessel market to remain volatile and generally low in 2018. In its fourth quarter 2017 report on the 22nd February, Siem Offshore said that the North Sea OSV market continued to…
The Supreme Court of Canada is hearing a controversial case this week concerning who is responsible for cleaning up toxic industrial sites when a company goes bankrupt. At stake is potentially billions of dollars in environmental clean-up costs. And entities ranging from governments to…
Fugro will start work this spring on a US$40-million contract from Guangzhou Marine Geological Survey (GMGS) to investigate gas hydrate potential on the northern continental slope of the South China Sea. This is Fugro’s fifth gas hydrate field research program for GMGS: the two…
Spain’s Repsol has agreed to sell its 20 percent stake in Gas Natural to CVC Capital Partners for €3.82 billion (US$4.69 billion), a move which could allow the oil major to restart investment after years of debt reduction. Repsol will sell the stake to…
Explorers are once again testing the waters in their search for oil, according to Transocean Ltd, the world’s biggest offshore rig contractor by market value. Drillers worldwide are forecast to boost new commitments for all types of offshore work by 140 percent this year,…
A search for gas off Cyprus will benefit all the ethnically divided island’s citizens and will continue as planned despite Turkey’s efforts to interfere, the Cypriot president said on the 21st February. President Nicos Anastasiades said in a statement that any potential wealth generated…
