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North_Sea

News on North Sea.

Media: Offshore carriers ditch Equinor contracts

Equinor pays so little to offshore shipping companies that some of them prefer to have their ships berthed rather than working for the partially state-owned oil company, says the industry. The matter is now being addressed politically in Norway.

Oil price starting to move toward USD 70 again

It is not quite there yet, but after a dive around New Year, the oil price is now moving past USD 65 per barrel and is thus inching closer to the USD 71 per barrel which was the average price last year. Good for offshore investments. Bad news for shipping.

Norwegian yards and rig companies face growth surge

For the first time since the crisis, revenue in the Norwegian oil industry is expected to climb above NOK 300 billion, according to EY. Yards and rig companies stand to benefit from strong growth rates, but several factors could slow the development.

MSC will pay for cleanup after lost containers

The container carrier has hired a company specializing in salvaging to coordinate the cleanup efforts following the loss of 270 containers in the North Sea. The cleanup will not be complete until the last container has been recovered, says MSC.

Scorpio says new offshore investment is first of several

Scorpio Group, mostly known for its two shipping companies, has with its acquisition of Nordic American Offshore taken a definitive step into the North Sea. And there could be more in store. "Things are developing very quickly," President Emanuele Lauro tells ShippingWatch.

Ørsted kicks off massive investment plan for offshore

Energy major Ørsted, formerly Dong, has presented a plan detailing its ambitions for the year to come. Combined gross investments ahead of 2025 total DKK 200 billion, of which the vast majority will be spent on offshore.

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