Equinor Acquires Energy Trader Danske Commodities
Norwegian oil and gas major Equinor, formerly Statoil, is acquiring the Danish energy trading company, Danske Commodities for EUR 400 million (USD 470 mln). "Equinor has reached agreement to buy 100% of the shares in Danish energy trading company Danske Commodities (DC) for EUR 400 million, with smaller contingent payments depending on DC’s performance over the next couple of years," said a press release from the company. This acquisition – of one of Europe’s largest short-term electricity traders – supports Equinor’s development towards becoming a broad energy company.
MOL Acquires Stake in AKOFS of Norway
Mitsui O.S.K. Lines (MOL) announced that MOL and Mitsui & Co have entered into a share purchase agreement to acquire shares in AKOFS Offshore AS, which is owned by Akastor ASA, Norway. After in-kind contribution of the company of owner and leasing the subsea support vessel, Skandi Santos, which MOL, Mitsui & Co., and AKOFS are jointly operating since November 2016, MOL's acquisition amount will be about JPY 8 billion. MOL's acquisition of shares in AKOFS means MOL will become more deeply involved in the operation and ship management of subsea support vessels…
Rio Tinto Hires CFO Stausholm from Maersk
Major miner Rio Tinto named Jacob Stausholm, formerly CFO of Danish shipping company A.P.
Andersen Joins Pipetech
Pipetech strengthened its senior management team with the appointment of Frank Andersen as general manager Scandinavia. Andersen, who brings more than 10 years oil and gas experience to Pipetech, will be based at the firm’s Stavanger hub. He joins the company from GS-Hydro Norge AS where he most recently held the role of business development manager and key account manager. Previous to this, Andersen worked in various sales and management positions at three different IKM companies.
Samsung Heavy Industries Delivers Johan Sverdrup Offshore Platform
South Korea's Samsung Heavy Industries (SHI)'s Geoje shipyard has completed a riser platform topside for Statoil's giant Johan Sverdrup development offshore Norway. "SHI successfuly completed the North Sea bound offshore platform within the scheduled delivery date in the original contract," said a statement from the company. SHI revealed that one of the two offshore platform topside modules, worth KRW 1.18 trillion together, left its Geoje shipyard. SHI-built Johan Sverdrup topsides are for a 26,000-ton process platform and a 23,000-ton riser platform.
Statoil Extends Contract with Viking Energy
Norwegian oil major Statoil has declared a one-year option for the Platform Supply Vessel (PSV) Viking Energy from April this year, in direct continuation of current contract. Eidesvik said on Monday that Statoil exercised a one-year option for Viking Energy. The extension is set to begin in April this year. The vessel will be prepared for shore power, and equipment for better fuel consumption measurement will be installed. Viking Energy was the world's first LNG-powered offshore vessel when it was launched in 2003.
Police Investigate 2016 Hydrogen Leak at Statoil Refinery
Norwegian police have launched an investigation into a hydrogen gas leak at Statoil's Mongstad refinery in October 2016, the company said on Friday. Statoil temporarily shut and evacuated its main refinery on Norway's west coast when a rusted pipe socket ruptured. The firm's own investigation found the resulting leak was caused by insufficient maintenance and a poor understanding of risk. While nobody was injured, the leak could have been fatal if the gas had ignited, Statoil's probe concluded. "The October 2016 leak is being investigated by police and ...
Petrobras to join Oil and Gas Climate Initiative (OGCI)
Petróleo Brasileiro SA (Petrobras) has announced its intention to join the Oil and Gas Climate Initiative (OGCI). The company revealed that its CEO, Pedro Parente, has signed a letter of engagement so that the company can become an effective member of the voluntary initiative, which aims to lead the industry response to climate change. The OGCI is the CEO-led grouping of oil and gas companies that intends to lead the industry’s response to climate change, pooling knowledge and collaborating on action to reduce greenhouse emissions.
Subsea 7 Bags Contracts Offshore Norway
Subsea 7 S.A. said it was awarded a contract from Statoil for the Johan Castberg field development, located 240 km from Hammerfest in Norway. The contract comprises the design, coating, fabrication and installation of a 53 km rigid flowline including 34 km of pipe-in-pipe flowline. Project Management and engineering will commence immediately at Subsea 7’s offices in Stavanger, Norway. Fabrication will take place at Subsea 7’s spoolbase at Vigra, Norway and offshore operations will be carried out in 2020.
SolstadFarstad Bags Contract for Normand Commander
Solstad Farstad ASA (SOFF) has entered a Bareboat contract with Bahia Grande LN S.A for the CSV "Normand Commander” for operation in Argentina. The contract period is 5 years firm with further 1x3 years option, commencement of the contract is February 2018. The commercial terms are confidential between the parties. Last month, Petróleo Brasileiro S.A extended the present contract for RSV “Far Swift” with approximately 1 year, in direct continuation of present contract. Contract is now firm until 4q -2018.
Dynagas Announces TC for LNG Carrier Pair
Dynagas LNG Partners has announced that a Partnership has entered into a new three year charter agreement with Statoil ASA (Statoil) for the employment of the Arctic Aurora, its 2013-built, 155,000 cubic meter, tri-fuel diesel engine, ice class liquefied natural gas (LNG) carrier. The Arctic Aurora is currently, and has been since 2013, on charter to Statoil. The Extended Charter is expected to commence in the third quarter of 2018 in direct continuation of the Current Charter…
OSM Crew Management for Lauritzen Kosan Fleet
Global ship management company OSM Maritime Group said it has been awarded full crew management of Lauritzen Kosan’s entire fleet of liquefied gas tankers, including 26 refrigerated ethylene, semi-refrigerated and pressurised gas carriers. OSM’s focus on the provision of personal service and expert seafarers, combined with delivering business efficiencies and economies of scale, has seen the company grow considerably in 2017. This latest contract ranks as its largest individual win of the year, bringing the number of vessels OSM provides services to far beyond the 500 mark.
Statoil Selects Gas4Sea for LNG Bunkering in Rotterdam
Gas4Sea partners - ENGIE, Mitsubishi Corporation and NYK - have been selected by Norwegian multinational energy group Statoil to be their liquefied natural gas (LNG) marine fuel supplier in the port of Rotterdam, in the Netherlands, for four crude shuttle tankers. The four planned dual fuel vessels are to come into service in early 2020 and will be operated by Statoil in Northern European seas. Gas4Sea will supply LNG using the ENGIE Zeebrugge which started operations earlier this year.
Caribbean Oil Terminals Prepare for Hurricane Maria
Several Caribbean oil storage terminals that temporarily closed ahead of Hurricane Irma earlier this month have started making preparations in case they have to shut again due to Hurricane Maria, which was a rare Category 5 storm on Tuesday. Shippers and traders in the Atlantic basin are struggling amid this year's very active storm season, which has seen seven hurricanes so far, four of them major hurricanes, defined as at least a Category 3 on the five-step Saffir-Simpson scale. Hurricane Harvey hit the U.S.
Offshore Wind Delivers Success for Montrose Port
Montrose Port Authority said it has supported its first project within the offshore renewable sector, heralding a new era of capabilities for the energy industry support and service hub. In association with NorSea Group (UK) Ltd, a subsidiary of Norwegian logistics company NorSea Group AS, the port is participating in the Hywind Scotland offshore wind project. The four-week campaign consisted of five port calls for anchor handling tug supply vessel, the Normand Prosper. After loading chain and mooring equipment to the vessel…
DNV GL Performs Offshore Drone Survey
Classification society DNV GL said its surveyors have carried the group’s first offshore drone survey on the semisubmersible vessel Safe Scandinavia in the North Sea. The 25,383 GT tender support vessel (TSV) Safe Scandinavia is owned and operated by Prosafe, supporting Statoil’s drilling operations off the coast of Norway. Using camera-equipped drones, DNV GL’s drone pilots checked the TSV’s fairleads and their connection with the vessel’s two columns as part of the intermediate survey.
Brookfield Buys Stake in Teekay Offshore
Canadian asset manager Brookfield Business Partners will buy 60 percent of Teekay Offshore Partners, a subsidiary of marine transportation provider Teekay Corp, for about $750 million, Reuters reported quoting company sources. Brookfield said it would invest $610 million to buy the stake in Teekay Offshore and will also acquire a $200 million loan given by Teekay Corp to Teekay Offshore. Teekay Corp in a separate statement said, following the transaction, it would own 14 percent of Teekay Offshore.
Norway: First Trade Deficit in 19 Years
Norway's trade balance turned negative for the first time in 19 years in June as imports of foreign-made aircraft and oil and gas platforms outweighed exports from the country's petroleum industry. The Nordic country has been running a trade surplus for nearly two decades as the revenues from its exports of oil and gas have amply covered its import needs. Norway is western Europe's largest crude exporter. In June the country posted a trade deficit of 0.8 billion Norwegian crowns ($97 million) against a surplus of 7.8 billion crowns in May, Statistics Norway said on Friday.
Statoil, AET Expand Shuttle Tankers Contract
Statoil ASA and petroleum and chemical tanker owners and operator AET are extending their partnership in the North Sea shuttle tanker sector. Statoil has, awarded a long-term contract to AET, a subsidiary of Malaysian energy shipping group, MISC Berhad, to operate two specialist DP2 offshore loading shuttle tankers (OLSTs) on long-term charter. These new vessels will be in addition to the two AET DP2 ships currently on charter, in the same area, for Statoil. These new vessels are in addition to the two AET DP2 ships currently on charter in the same area for Statoil.
Greencarrier sets up office in Norwegian Arctic
Greencarrier Freight Services is establishing a new office in the beautiful Norwegian Arctic. This comes at the heels of a new contract they secured for providing the oil and gas company ENI Norge with transport solutions and port logistics for Goliat Field - an offshore oil field north-west of Hammerfest in Norway. In recent years, the town of Hammerfest in northern Norway has experienced an economic boom. This is a consequence of Statoil‘s construction of the large liquefied natural gas site on the island of Melkøya in 2007.
Changes in Statoil’s Top Deck
Jannicke Nilsson has been appointed executive vice president and chief operating officer (COO) in Statoil ASA. She takes over the role from Anders Opedal, who will lead the development of Statoil’s growing and increasingly important operations in Brazil as new country manager. Jannicke Nilsson will assume her new responsibilities on 1. December this year, Anders Opedal will assume his responsibilities 15 January 2017. Nilsson will report to President and CEO Eldar Sætre with her office location being Stavanger…
Stausholm Resigns from Statoil Board
Jakob Stausholm has informed that he will resign from his position as member of the board of directors in Statoil ASA with immediate effect in order to avoid potential conflicts of interests following his new appointment as CFO of the Maersk group. Stausholm takes up his new position as from 1 December 2016. The nomination committee in Statoil will commence its search for a new board member, to allow for the corporate assembly to conduct a by-election when the nomination committee's recommendation is ready. Tone Lunde Bakker is chair of the nomination committee in Statoil.
Maersk Drilling Slashing 140 Norway Jobs
Maersk Drilling, a unit of Danish conglomerate A.P. Moller-Maersk, will cut up to 140 jobs in Norway due to lack of work for two rigs, the drilling company said. The jack-up rigs Maersk Gallant and Maersk Inspirer are expected to have finished their jobs in August and December respectively and negotiations are under way with the employees' union, a spokeswoman said. Maersk Galant is currently hired by France's Total while Maersk Inspirer is hired by Norway's Statoil. The job cuts correspond to four percent of Maersk Drilling's total workforce.
Investigators Blame Norway Helicopter Crash on Gearbox Failure
The fatal crash of an Airbus helicopter in Norway in April was probably the result of metal fatigue in the aircraft's gearbox, the country's Accident Investigation Board (AIBN) said in a preliminary report on Tuesday, backing earlier findings. All 13 people on board were killed when the Super Puma's main rotor blades separated from the aircraft as it was ferrying passengers from a Norwegian offshore oil platform operated by Statoil. The European Aviation Safety Authority on June…
Statoil’s 50 years to be Recorded
Statoil has decided to launch a large project to write the story about the company for its 50th anniversary in 2022. The University of Oslo has been chosen the main supplier in a project that will also involve other Norwegian research institutions. «Statoil’s history» will be a historical fact-based research project to be ready for the company’s 50th anniversary in 2022. The project aims to acquire new knowledge about Statoil and the petroleum activity’s significance to society through 50 years and convey it to the public.
TEN Sends New Aframax Tanker to Work for Statoil
Tsakos Energy Navigation Ltd. (NYSE:TNP) has taken delivery of the aframax tanker Elias Tsakos, part of the 15-vessel newbuilding program and the first of the nine assigned for the Statoil long-term business. The vessel was delivered from Daewoo Mangalia Heavy Industries and will immediately be employed by Statoil with potential gross revenues in excess of $100 million. “Following the delivery and long term charter of the VLCC Ulysses, we are pleased to announce the commencement of our strategic relation with Statoil, one of the most recognized oil companies in the world,” commented Mr.