Search results for: race bank

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  • Canadian FPSO comes back online years after embarking on revamp project

    27 November 2023
    Business & Finance, Business Developments & Projects, Exploration & Production, Project & Tenders

    Suncor has brought back into production a floating production, storage, and offloading (FPSO) vessel, as part of its field life extension project offshore Canada.

  • Shell gears up for drilling campaign in Gulf of Mexico to enrich its hydrocarbon arsenal

    14 December 2023
    Business & Finance, Business Developments & Projects, Exploration & Production, Project & Tenders

    Shell has greenlighted a phased three-well program to bolster production at a development in the U.S. Gulf of Mexico (GoM).

  • European policymakers urged to adopt robust low-carbon hydrogen definition

    2 April 2024
    Authorities & Government, Business Developments & Projects, Certification & Classification, Green Marine, Infrastructure, Outlook & Strategy, Regulation & Policy, Rules & Regulation, Transition

    Industry players and NGOs issued a joint letter calling on European policymakers to adopt a robust definition for low-carbon hydrogen.

  • Financing secured for ARO Drilling’s two new jack-up rigs

    27 October 2023
    Business & Finance, Business Developments & Projects, Outlook & Strategy, Project & Tenders, Vessels, Vision

    ARO Drilling, a 50/50 joint venture between Valaris and Saudi Aramco, has secured financing for its first two new-build jack-up rigs, set to work for Saudi Aramco. ARO has entered into a $359 million term loan with a syndicate of local Saudi Arabian banks to finance the deliveries. The proceeds will be used to pay […]

  • Increased charter rates and OSV demand lift Siem Offshore up

    27 February 2024
    Business & Finance, Business Developments & Projects, Outlook & Strategy, Project & Tenders, Vessels

    Siem Offshore has reported operating revenues of $336 million for the fiscal year 2023, an increase from $274.3 million in 2022, and $85.2 million for Q4 2023, compared to $64.3 million in Q4 2022, said to be caused by an uplift in charter rates, generated by increased demand for offshore support vessels (OSVs) and in […]

  • Azule Energy’s digital steps to speed up four oil projects enable FutureOn’s first foray into West Africa

    11 January 2024
    Business & Finance, Business Developments & Projects, IT & Software, Project & Tenders, Technology

    To step up the development of four oil projects, Azule Energy has set its cap on using FutureOn’s digital design and visualization platform.

  • Jadestone’s infill drilling campaign off Malaysia seen as ‘very successful’

    4 December 2023
    Business & Finance, Business Developments & Projects, Exploration & Production, Project & Tenders

    Jadestone Energy has wrapped up the drilling activities at the final well in its infill drilling campaign offshore Peninsular Malaysia.

  • With contract backlog of $4.7 billion, Noble looks forward to ‘sustained long-term upcycle’

    1 November 2023
    Business & Finance, Business Developments & Projects, Project & Tenders

    Noble Corporation has reported strong operational and financial performance during the third quarter of 2023.

  • Yang Ming picks GTT’s tank design for its newbuild LNG-fueled containerships

    11 October 2023
    Business Developments & Projects, Equipment, Green Marine, Infrastructure, Technology, Vessels

    On behalf of Taiwanese shipping company Yang Ming Marine Transport Corporation, South Korean shipyard HD Hyundai Heavy Industries (HD HHI) has placed an order at French company GTT for the design of the cryogenic fuel tanks of five large LNG-fueled containerships. GTT revealed the order on October 10, stating this was “the first time that […]

  • Apollo snaps up ‘critical’ FEED work for North Sea oil project

    24 November 2023
    Business & Finance, Business Developments & Projects, Project & Tenders

    Apollo has secured a contract with NEO Energy for a FEED study, which will support the planned redevelopment of an oil project in the UK.

  • EU to introduce stricter fines for illegal discharges from ships

    17 November 2023
    Authorities & Government, Environment, Infrastructure, Regulation & Policy, Rules & Regulation, Vessels

    Ships in the European Union seas should face dissuasive fines not only for oil spills but also for sewage and garbage discharge, Transport and Tourism Committee Members of the European Parliament (MEPs) said.

  • Exclusive interview with Norsepower’s CEO: Debunking the myth of wind propulsion’s obsoleteness

    19 February 2024
    Business Developments & Projects

    In the dynamic landscape of maritime technology, wind propulsion solutions, exemplified by the Norsepower Rotor Sail (NPRS), are poised to transcend the realm of experimental endeavors, solidifying their position as fundamental elements in standard vessel design. Offshore Energy spoke with Norsepower’s CEO, Tuomas Riski, on what the industry can do today to future-proof its investments […]

  • Seaturns setting the stage for full-scale production with start of wave energy prototype testing

    19 January 2024
    Business Developments & Projects, Operations & Maintenance

    After validating its technology in European wave basins at a small scale, French start-up Seaturns is now progressing to the next stage by starting tests on a 1:4-scale prototype at the Ste Anne du Portzic site in Brittany, France. Seaturn installed the demonstrator at the Ifremer test site in October 2023, in Sainte-Anne du Portzic, […]

  • IMO MEPC 81: The clock is ticking for fossil fuel era in shipping

    25 March 2024
    Authorities & Government, Regulation & Policy

    IMO MEPC 81 has agreed on an illustration of a possible draft outline of an “IMO net-zero framework” for cutting greenhouse gas emissions (GHG) from international shipping.

  • Serica comes on board North Sea oil project

    26 February 2024
    Business & Finance, Business Developments & Projects

    Jersey Oil & Gas plc has wrapped up the sale of a partial stake in an asset on the UK Continental Shelf (UKCS) to Serica Energy (UK) Limited.

  • No natural gas shortage in sight, as Türkiye plans to boost storage capacity while upgrading its facility to run on renewables

    3 January 2024
    Authorities & Government, Business & Finance, Business Developments & Projects, Exploration & Production, Project & Tenders, Regulation & Policy, Transition

    Türkiye is taking steps to scale up its natural gas storage capacity and slash greenhouse gas emissions with renewables.

  • The Netherlands and Germany bolster hydrogen ties

    15 November 2023
    Business Developments & Projects, Collaboration, Infrastructure, Outlook & Strategy, Transition

    Germany and the Netherlands have signed joint declarations of intent to strengthen their cooperation in the field of hydrogen infrastructure and import and establish a cross-border hydrogen ecosystem. The declarations of intent were signed in Duisburg as part of the Dutch King Willem-Alexander’s working visit to North Rhine-Westphalia on November 14, 2023. Two declarations are […]

  • DP World, Masdar partner on renewable energy systems for port operations

    26 February 2024
    Ports & Logistics

    UAE-based logistics giant DP World has signed a partnership agreement with compatriot clean energy company Abu Dhabi Future Energy Company (Masdar) to explore and implement renewable energy systems across DP World’s global port operations in the Middle East and Africa.

  • Strife over US LNG permit freeze: Win for environmentalists and loss for Big Oil but is there more to it?

    13 February 2024
    Authorities & Government, Business & Finance, Business Developments & Projects, Environment, Exploration & Production, Regulation & Policy, Rules & Regulation, Transition

    The Biden administration’s imposed pause on pending approvals of liquefied natural gas (LNG) exports is seen as a controversial move, which has brought the strife between Big Oil and climate campaigners to the fore.

  • Boost in borrowing capacity, enables ‘significant’ liquidity for Jadestone ahead of gas project start-up

    9 October 2023
    Business & Finance, Business Developments & Projects, Exploration & Production, Project & Tenders

    Jadestone Energy has confirmed the end of a bi-annual redetermination process for its $200 million reserve-based lending (RBL) facility.

  • Biden vs Trump: Will energy policy or tectonic shifts in democracy and geopolitics decide winner of potential 2024 showdown?

    5 January 2024
    Authorities & Government, Business & Finance, Business Developments & Projects, Environment, Exploration & Production, Market Outlooks, Outlook & Strategy, Regulation & Policy, Transition

    Biden’s energy dossier confirms his willingness to bend over backward to uphold his values and clean energy agenda, but will America’s energy transition grind to a halt under Trump’s reign if he gets another term?

  • NIB co-finances Norled’s low-carbon fleet

    14 March 2024
    Business & Finance, Business Developments & Projects

    The Nordic Investment Bank (NIB) has signed a seven-year loan to co-finance ferry and express boat operator Norled AS’ investments in zero- and low-carbon vessels and related land-based infrastructure in Norway during 2024-2030.

  • Northern Lights, Yara seal binding CO2 transport and storage deal

    20 November 2023
    Business Developments & Projects, Carbon Capture Usage & Storage, Collaboration, Green Marine, Infrastructure, Outlook & Strategy, Transition

    Norwegian-based ammonia player Yara International has signed a binding commercial agreement with Northern Lights, a CO2 transport and storage supplying JV created by energy majors Shell, Equinor, and TotalEnergies, which is expected to pave the way for the world’s first cross-border transportation and storage of CO2. The signing of the binding contract comes on the back of […]

  • Net-zero by 2050 ambition at risk: In with renewables and out with fossil fuels ‘far from fast enough,’ warns DNV

    11 October 2023
    Business & Finance, Business Developments & Projects, Exploration & Production, Market Outlooks, Outlook & Strategy, Project & Tenders, Transition

    DNV: The pace of the transition from fossil fuels to renewables is not being imbued with enough speed to reach net-zero by 2050 targets.

  • COP28: Will a magic wand sweep away oil, gas, and LNG in favor of green agenda?

    11 December 2023
    Authorities & Government, Business & Finance, Business Developments & Projects, Carbon Capture Usage & Storage, Collaboration, Environment, Exploration & Production, Infrastructure, Innovation, Project & Tenders, Regulation & Policy, Technology, Transition

    As a battle over fossil fuel language continues to rage, the pressure is not letting up on demands to phase out fossil fuels.