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Oil And Gas Specialist News

09 Feb 2018

Aker Enters Offshore Floating Wind Market

Norwegian oil and gas specialist Aker Solutions has invested in floating wind power technology company Principle Power, with the aim to brings its offshore oil and gas field engineering experience to the renewable energy market. Aker Solutions has an extensive track record in developing offshore oil and gas fields, with particular capabilities in floating facilities. The partnership will help bring Principle Power's technology - an innovative floating foundation for offshore wind turbines, known as WindFloat - to a broader market. "We see a major opportunity in offshore floating wind where demand is growing in the transition to a low-carbon future," said Aker Solutions Chief Executive Officer Luis Araujo.

28 May 2009

New Int’l Valve Group Created

Valco Group announced its entrance into the market for industrial valves. The new group, with revenues of about $100m in 2008, currently operates in the oil & gas, marine and energy & industry sectors. Valco Group has been formed from the Norwegian and French valve operations of the former Flowtech division of Technor Group. Valco Group, with its head office in Stavanger (Norway), has five operational units: The factory Westad Industri in Norway, the two French factories: Malbranque and SNRI…

23 Mar 2007

CNOOC Aims 60m LNG Imports in 15 yrs

China's offshore oil and gas specialist China National Offshore Oil Corp. (CNOOC) plans to boost its imports of liquefied natural gas (LNG) to 60 million tons a year in 15 years, Reuters reported. The plan to raise imports of cleaner LNG would help reduce reliance on dirty coal-based energy and meet growing demand in coastal regions, the China Daily reported, quoting Fu Chengyu, general manager of CNOOC and chairman of listed arm CNOOC. China depends on coal for more than 70 percent of its energy needs. CNOOC started up China's first LNG terminal in southern Guangdong province last June that is fed with Australian gas, with annual receiving capacity of 3.7m tons in its first phase.