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Nord Stream 2 Launch Facing Delays

May 17, 2019

Russia's Nord Stream 2 gas pipeline project to Germany may launch in 2020, rather than the end of 2019, due to delays in obtaining permits from Denmark, Interfax news agency on Friday quoted Nord Stream 2 AG as saying.The Russian-led company has two pending route applications with Danish authorities, the first of which was submitted more than two years ago, but it was asked in March to assess a third route option in Danish waters…

Rocsole Taps Tienhaara as CEO

Dec 11, 2019

Tomography technology company Rocsole said it has appointed Mika Tienhaara as the new chiefe executive officer starting in 2020.Tienhaara has previously been CEO of the Ascom Separation which was acquired by Sulzer Chemtech AG, and has held various roles in Aker Solutions…

Deutsche Bahn Signs Offshore Wind PPA in Germany

Sep 10, 2019

German railway company Deutsche Bahn AG (DB) will be purchasing about 8% of the total production of the 295-MW Nordsee Ost offshore wind farm  from 2024.Deutsche Bahn will continue to steadily increase its purchase of electricity from renewable energy sources in the coming years…

Siemens Wins Viking Link Gig

Aug 28, 2019

Germany's Siemens AG said  that it has won a deal to supply two converter stations for the first high-voltage direct current (HVDC) link between the UK and Denmark.Viking Link will enable the exchange of up to 1400MW of electricity to provide…

Nord Stream 2 is 75% Complete

Aug 28, 2019

The Nord Stream 2, export gas pipeline running from Russia to Europe across the Baltic Sea, is 75% complete, the project's operator, Nord Stream 2 AG, said in a statement.A total of 1,855 kilometers of the Nord Stream 2 pipeline were built along the bottom of the Baltic Sea in the waters of Russia…

Nord Stream's Last Pipe Leaves Sweden Port

Aug 08, 2019

The last Nord Stream 2 pipe stored within the premises of the port of Karlshamn left the storage area. Russia’s  Nord Stream 2 AG is the operator of the Nord Stream 2 gas pipeline project.Nearly 39,000 pipes have transited through the port since October 7…

Permian Basin is Booming!

Aug 05, 2019

The increased output from the Permian Basin, located in West Texas and Southeastern New Mexico, has been the biggest contributor to the growth of super majors.A handful of industry insiders have recently speculated that the Permian may be on its way out…

Oilfield Services Pricing Rises

Jun 24, 2019

Oilfield services companies are in bullish mode. They are now able to raise prices for their products and services, after several years of gloom.“Oil and gas investments are on the rise, and so too is the pricing power of service companies. After losing pricing power in 2015 and 2016…

Only 10% of Shale Firms Reports Positive Cash Flow

May 30, 2019

Only four, out of the financial performance of 40 dedicated US shale oil firms under study, reported a positive cash flow balance in the first quarter of 2019, bringing down the share of companies with a positive cash flow balance from the recent norm of around 20% to just 10%…

Siemens Exits Power, Gas, Renewable Biz

May 08, 2019

German conglomerate Siemens AG said it will spin off and give up its majority stake in its energy division and merge it with separately listed wind turbine supplier Siemens Gamesa Renewable Energy (SGRE), creating a new multi-technology global energy powerhouse…

Wintershall, DEA Complete Merger

May 03, 2019

The merger between oil and gas firms Wintershall Holding GmbH and Deutsche Erdoel AG (DEA) has been completed, creating the largest independent exploration and production company in Europe.Wintershall DEA will be headquartered in Hamburg, with activities across Europe…

Large Oil Firms Invest in Shale

Mar 13, 2019

Oil majors are readying themselves for the energy transition by investing in shale and waiting for renewable technology to be economical, said Rystad Energy, energy research and business intelligence company.A recent review of 2019 capital budgets…

DEA Extends Concessions in Egypt

Mar 08, 2019

German oil company DEA Deutsche Erdoel AG has said it has extended its concessions for the Ras Budran and Zeit Bay oil fields in the Gulf of Suez, offshore Egypt. DEA’s General Manager Sameh Sabry signed the new concession agreement. The new…

U.S. Fracking Shrinks by 25% in 2H2018

Feb 24, 2019

The new median estimate for nationwide fracking activity in December 2018 suggests 36 frac jobs per day, said a research.The energy research and business intelligence company Rystad Energy revealed in a study that 25% contraction in fracking…

Consortium Buys Veja Mate Offshore Wind

Feb 14, 2019

A consortium led by asset manager Commerz Real AG, WPD Invest, KGAL and IKEA franchisee Ingka Group will acquire an 80% stake in the 402-MW Veja Mate offshore wind park in the German North Sea.Veja Mate offshore wind park in the North Sea  is…

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Asia LNG Spot Prices Drop to Multi-year Low

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