Africa's richest man, Aliko Dangote, has arranged more than $4.5 billion in debt financing for his Nigerian oil refinery project and aims to start production in early 2020, he told Reuters.Dangote, who built his fortune in cement, is building…
Statoil has signed a swap agreement with Innogy and SSE for equity interests in the Dogger Bank offshore wind development project in the North Sea, the Norwegian giant announced today (10 August). Image from Statoil…
UK Export Finance (UKEF) will provide US$400 million in support for a GE Oil & Gas contract the Offshore Cape Three Points (OCTP) project in Ghana. UKEF will provide $400 million of support to the OCTP project, including a loan under its direct lending facility…
Independent Faroe Petroleum entered agreements with two banking facilities, which will provide substantial finance to underpin the company’s growth plans. The first, amounting to US$250 million is from the Reserve Base Lending Facility (RBL)…
Jeroen van der Veer has been elected as a new member of Statoil's board of directors. Van der Veer was the chief executive officer at Royal Dutch Shell from 2004-2009, when he retired. Van der Veer then continued as a non-executive director on the board of Shell until 2013…
Planning approval for offshore wind energy at Dogger Bank takes the total of consented projects in the North Sea zone to 4.8 Gw, almost equal to all the offshore wind capacity now in operation in the UK. Image…
Dutch oil and gas producer Oranje-Nassau Energie (ONE) has made its first step into the UK sector by taking over operatorship of the southern North Sea Sean field. The firm says its acquisition of 50% interest in and operatorship of the…
The Mariner heavy oil discovery on the East Shetland Platform in UK block 9/11 will be one of the largest offshore developments on the UK Continental Shelf in more than a decade. Meg Chesshyre checks on its progress. Chris…
Consent has been awarded for what will be the largest offshore wind farm in the world, offshore the UK. The Dogger Bank Creyke Beck development, to be operated by the Forewind consortium, is to be created out of two wind 1.2GW farms, each with 200 wind turbines…
Dockwise floatover installed the Shwe development topsides using COOEC's HSY229 installation launch barge. First production was in January this year. Photo from Dockwise. Myanmar has been producing hydrocarbons longer than many…
DNV GL Group COO and Executive Vice President Remi Eriksen, left, shakes hands with Stein Eggan, chief executive officer of Marine Cybernetics, following the acquisition announcement at Houston’s OTC 2014…
Subsea 7 will build and operate three, flex-ible, pipe-lay support vessels (PLSV) for Petrobras under three five-year contracts worth about US$1.6 billion. The contracts include project management, engineering and installation of flowlines…
Höegh LNG has received commitment letters from five international banks for a $299 million limited recourse facility for the financing of the LNG floating storage and regasification unit (FSRU) and mooring system to be located offshore Labuhan Maringgai…
Drilling at the Peró and Ingá prospects in block BM-C-40 and the Santa Helena prospect in BM-C-31 has turned up hits for Brazilian relative newcomer OGX. The operator has been focusing on shallow water opportunities (OE April) and has exploratory…
With the offshore wind sector already garnering government support and increasingly piquing the interest of the private sector, the banking sector will become progressively more involved in this industry as installed capacity grows and market share increases…
