FINWIRES · TerminalLIVE
FINWIRES

Aker Solutions Bags FEED Contract for Equinor North Sea Project

By

-- Aker Solutions (AKSO.OL) secured a contract to provide front-end engineering and design, or FEED, services for oil and gas company Equinor's (EQNR.OL) Kvitebjørn platform in the North Sea, according to a Tuesday release.

Under the deal, the energy-focused engineering group will prepare the topside facilities on the Kvitebjørn platform to support production from the nearby Atlantis field, using existing infrastructure. The contract includes an option for engineering, procurement, construction, installation, and commissioning assistance, or EPCIc.

Aker Solutions said the FEED project will commence immediately, with the EPCIc option to be exercised at the start of 2027.

Related Articles

Asia

Caplin Point Laboratories Unit Gets US FDA's Final Nod for Calcium Gluconate Injection

Caplin Steriles, a subsidiary of Caplin Point Laboratories (NSE:CAPLIPOINT, BOM:524742), has received final approval from the U.S. Food and Drug Administration (FDA) for its calcium gluconate injection, according to a Tuesday filing to the Indian stock exchanges.The drug is a generic therapeutic equivalent version of Fresenius Kabi's reference-listed drug.Calcium gluconate injection is indicated for the treatment of acute symptomatic hypocalcemia in pediatric and adult patients.The company's shares were up nearly 2% in recent trade.

$BOM:524742$NSE:CAPLIPOINT
Oil & Energy

EMEA Oil Update: Energy Crisis Deepens With Further Escalation in Middle East

Crude oil prices eased on Tuesday after surging in the previous session as US and Iranian forces exchanged fire in the Persian Gulf, threatening a month-old ceasefire.Front-month Murban crude futures edged up 0.4% to $107.70 per barrel, while Brent futures dropped 1% to $113.29/bbl.Reports said there was an attack on a US warship and an Iranian drone strike on the UAE's Fujairah oil terminal.Analysts noted that the oil market remains on high alert following news of an attack on a US Navy vessel.The hostilities broke out as the US initiated a mission to extract commercial ships currently trapped within the Persian Gulf.US Central Command reportedly confirmed that two American merchant ships successfully completed their transit through the Strait of Hormuz.However, analysts warned that a subsequent direct fire exchange between US and Iranian forces now endangers the survival of the ceasefire established four weeks ago.The regional fallout intensified as the UAE reported its first defensive interceptions of Iranian missiles and drones since the April 8 ceasefire began.However, one Iranian drone successfully struck an oil terminal at the Port of Fujairah, sparking a major fire at the facility.Record-breaking supply losses of 10 million barrels per day have already depleted global inventories, and experts warn that if the Strait remains obstructed, this crisis could extend through late 2026 and into 2027.

Asia

Market Chatter: JSR to Build Semiconductor Material Plant in Taiwan

JSR (TYO:4185) looks to construct its first production facility for semiconductor materials in Taiwan, Nikkei Asia reported Monday.The plant will supply advanced photoresists, used to make circuit patterns on silicon wafers, to Taiwan Semiconductor Manufacturing (TPE:2330), according to the report.The Japanese chemical producer teamed up with a local partner in April for a new joint venture dedicated to the project, the report said.The company will invest tens of millions of dollars in the plant and aims to make it operational as early as 2028, Nikkei Asia said.The move comes as Japanese producers aim to maintain their share of the Taiwanese market amid heightened competition from Chinese peers, the report said.Japanese producers have an 80% share of the global photoresist market, with JSR the second-biggest supplier, the report said.The company will look into making other products aside from photoresist at the Taiwan plant, according to the report.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

$TPE:2330$TYO:4185