Just this week, a devastating crash occurred during load testing in an offshore wind farm installation vessel in Rostock, Germany. Investigation on the cause of the giant crane’s crash is still underway, with major damage to the hull. Industry officials who are based in Asia stated that the structure stayed afloat despite the amount of damage. Footage of the unfortunate event was captured by Offshorewind EU and can be viewed...Continue Reading

As more countries continue to extend their quarantine period due to the pandemic and its ceaselessly rising numbers, Petroliam Nasional Berhad, Malaysia’s petroleum giant warns of incoming project delays.  The state-owned energy company currently operates in over 20 countries that include the Americas and in an attempt to maintain capital expenditure, will see a number of setbacks.  Earlier this year, the forecast for domestic expenditure stood at a maximum of...Continue Reading

With all happenings around the globe, Royal Dutch Shell stated that they will be proactively taking measures to ensure resilience and (financial) strength of the business. Shell has reduced at least 20% of the capital expenses including “material reductions in working capital”, with possible reductions in the near future. Chief Executive Ben van Beurden said that aside from protecting all its staff and customers in this difficult situation, further steps...Continue Reading

Capital Expenditure in Petronas facing possible cut due to low oil prices In this current situation, Affin Hwang Capital research found that Petronas is bound to reduce its capex, a move that could put pressure on the Malaysian oil and gas industry. The financial company further stated that Petronas has yet shown signs of significant delay in its 2020 programme amidst the chaos caused by the virus. However, activities tend...Continue Reading

A pair of individuals were reportedly injured when an LTS-3000 crane boom apparently collapsed while working on a heavy-lift pipelay vessel under Larsen & Toubo (L&T) company on a development project off India’s west coast. The Cluster-8 development project also saw the fall of an offshore jacket where the crane had collapsed.  There were about five people who were present at the scene at the time of the incident and...Continue Reading