Search results for: race bank

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  • US firm enriches its Gulf of Mexico arsenal with mostly deepwater oil assets

    5 March 2024
    Business & Finance, Business Developments & Projects

    Talos Energy has wrapped up the acquisition of QuarterNorth Energy, expanding its deepwater portfolio in the U.S. Gulf of Mexico.

  • Interview: After taming the Adriatic Sea, Slovenian wave energy company sets course to the ocean

    27 November 2023
    Authorities & Government, Business & Finance, Business Developments & Projects, Equipment, Innovation, Market Outlooks, Outlook & Strategy, Regulation & Policy, Research & Development, Technology, Transition, Vision

    In an interview with Offshore Energy, the founder and head engineer of Slovenia-based wave energy company Sigma Energy, Mile Dragic talked about the development of wave energy technology, demonstration projects, future plans and the challenges of working in an emerging renewable energy industry.

  • EU ETS will cost the shipping industry billions, says ITIC

    11 December 2023
    Authorities & Government, Business & Finance, Business Developments & Projects, Green Marine, Outlook & Strategy, Regulation & Policy, Rules & Regulation, Transition

    The cost of the European Union’s (EU) new Emissions Trading Scheme (ETS) to the shipping industry could be in the billions, according to the forecasts from International Transport Intermediaries Club (ITIC). The extended EU ETS, which comes into force on 1 January 2024, will set an annual absolute limit on emissions of greenhouse gases (GHG) […]

  • Two legal challenges loom over UK’s giant undeveloped oil field

    18 December 2023
    Authorities & Government, Business & Finance, Business Developments & Projects, Environment, Exploration & Production, Regulation & Policy, Rules & Regulation

    Legal trouble brews on the horizon for the UK government and one of the largest undeveloped oil fields in the UK over climate concerns.

  • Fresh gas discovery and appraisal activity put potential tie-back to North Sea platform on the table

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

    Neptune Energy has revealed a new gas discovery at an offshore prospect and confirmed the volumes for an appraisal well in the North Sea. 

  • Global container handling equipment’s emissions match Slovenia’s 2020 CO2 output

    26 October 2023
    Business Developments & Projects

    The global fleet of 100,000-120,000 container handling equipment (CHE) is responsible for 10-15 million tonnes of carbon dioxide per annum, the equivalent of the annual emissions of Slovenia in 2020. Electrification of port operations through battery-electric CHE holds the key to a net zero future, due to its scalability, according to a White Paper released […]

  • Northern Lights CEO: We are making CCS viable

    25 October 2023
    Authorities & Government, Business & Finance, Business Developments & Projects, Carbon Capture Usage & Storage, Collaboration, Green Marine, Outlook & Strategy, Ports & Logistics, Project & Tenders, Regulation & Policy, Rules & Regulation, Transition

    The carbon capture and storage (CCS) business has been facing strong headwinds on its journey to becoming a feasible lever for hard-to-abate sectors to decarbonize. The role of carbon capture is increasingly gaining prominence as governments come to realize that renewable energy alone cannot provide the scale of emissions reduction needed by 2050. In response […]

  • In focus: Energy and maritime plays shaping greener future to wean the world off fossil fuels

    17 November 2023
    Authorities & Government, Business & Finance, Business Developments & Projects, Carbon Capture Usage & Storage, Collaboration, Environment, Exploration & Production, Infrastructure, Innovation, Outlook & Strategy, Project & Tenders, Regulation & Policy, Research & Development, Rules & Regulation, Technology, Transition, Vessels

    This week saw Europe entrench its position as the decarbonization trailblazer, with the Netherlands, Germany, Norway, Denmark, and Belgium spearheading the new wave of projects.

  • EnergyQuest: What’s in store for Australia’s gas industry?

    9 January 2024
    Business & Finance, Business Developments & Projects, Exploration & Production, Market Outlooks, Transition

    EnergyQuest has provided its take on Australia’s gas outlook, shedding more light on what awaits the country in the future.

  • 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.

  • BP sees sharp drop in profit due to flat gas prices but uplifts renewables pipeline

    31 October 2023
    Business & Finance, Business Developments & Projects, Exploration & Production, Market Outlooks, Project & Tenders, Transition

    BP has achieved production growth, a reduction in net debt, and a “robust” operating cash flow, based on its results for 3Q 2023.

  • With Red Sea quagmire running unabated, vessel attacks top 23 as oil prices drop down

    3 January 2024
    Business & Finance, Business Developments & Projects, Exploration & Production, Market Outlooks, Safety, Vessels

    Oil prices have now settled down, but is this just the calm before the storm or will prices remain stable without further spikes?

  • Eight countries take steps to erase fossil fuels from EU’s power system as ‘ground-breaking’ new law comes to light

    20 December 2023
    Authorities & Government, Business & Finance, Business Developments & Projects, Environment, Regulation & Policy, Rules & Regulation, Transition

    Eight European countries – Austria, Belgium, France, Germany, Luxembourg, the Netherlands, Switzerland, and Lithuania – have made commitments that put them en route to fossil-free power by 2035. 

  • Eco Wave Power’s ‘significant milestones’ keep optimism for future energy project opportunities alive

    3 April 2024
    Authorities & Government, Business & Finance, Business Developments & Projects, Market Outlooks, Operations & Maintenance, Outlook & Strategy, Ports & Logistics, Project & Tenders, Research & Development, Vision

    Eco Wave Power is among the companies that felt the impact of the unpredictability surrounding the economy in 2023.

  • UN adopts resolution demanding immediate halt to Houthi attacks in the Red Sea

    11 January 2024
    Authorities & Government, Business Developments & Projects, Green Marine, Outlook & Strategy, Regulation & Policy, Rules & Regulation, Safety

    Following what has been described as the ‘largest Houthi drone attack’ in the Red Sea on January 9, the U.N. Security Council adopted a resolution demanding that the Houthis immediately cease all attacks on merchant and commercial vessels. At least 21 missiles and drones were launched toward international shipping lanes on Tuesday, which were predominantly […]

  • ‘Strong demand’ for MMA’s vessels and subsea services from both oil & gas and offshore wind

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

    MMA Offshore reported strong demand for its vessels and services in the first FY2024 half-year. With newbuild vessel orders at a historic low and limited additional vessel supply anticipated in the coming couple of years, the Australia-headquartered company said it was expecting favorable market conditions to continue. For the half year, MMA Offshore reported revenue […]

  • UK firm lands a hand to Saipem at European gas project

    12 April 2024
    Business & Finance, Business Developments & Projects, Collaboration, Equipment, Project & Tenders, Vessels

    Maritime Developments Limited (MDL) has taken part in an LNG project in Europe, assisting Saipem with a FSRU project in Greece.

  • Well intervention ops on the cards to bring Brazilian offshore well back online

    24 January 2024
    Business & Finance, Business Developments & Projects, Exploration & Production, Project & Tenders

    Karoon Energy is working on sorting out the issues impeding the restart of production from a well located on a field in the Santos Basin offshore Brazil.

  • Indonesia’s first marine floating solar power plant prototype launched

    9 April 2024
    Business & Finance, Business Developments & Projects, Collaboration, Human Capital, Innovation, Outlook & Strategy, Project & Tenders, Research & Development, Technology, Vision

    The first marine floating solar power plant prototype in Indonesia, Solar2Wave, has been launched, backed by funding from Innovative UK. 

  • BP’s profit cut in half but $13.8 billion still cinched in 2023

    6 February 2024
    Business & Finance, Business Developments & Projects, Exploration & Production, Transition

    Despite a 50% fall in profit on a year-over-year basis, BP still reported a solid overall operational and financial performance during 2023.

  • EU reaffirms CCS crucial to achieving climate targets

    25 October 2023
    Authorities & Government, Business & Finance, Business Developments & Projects, Carbon Capture Usage & Storage, Environment, Infrastructure, Outlook & Strategy, Project & Tenders, Regulation & Policy, Rules & Regulation, Transition, Vision

    The European Parliament Committee on Industry (ITRE) has adopted a position on the Net-Zero Industry Act (NZIA), further endorsing the emerging consensus on the vital role of carbon capture and storage (CCS) in achieving Europe’s climate targets. The position adopted by ITRE is said to strengthen the breakthrough measures on CCS from the European Commission proposal. […]

  • 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.

  • As UK pledges more oil & gas licensing opportunities, calls emerge to supercharge renewables instead

    7 November 2023
    Authorities & Government, Business & Finance, Business Developments & Projects, Environment, Exploration & Production, Regulation & Policy, Rules & Regulation, Transition

    Britain’s government is putting the wheels into motion to embrace more hydrocarbons with open arms by opening new licensing opportunities to ensure energy security while hoping to unlock more green investments in the process.

  • COP28: Reconciling great expectations with reality in a highly polarized world

    6 December 2023
    Authorities & Government, Business & Finance, Business Developments & Projects, Carbon Capture Usage & Storage, Collaboration, Environment, Exploration & Production, Market Outlooks, Outlook & Strategy, Regulation & Policy, Rules & Regulation, Transition

    A deep dive into COP28 and the clash between those calling for a phase-out of fossil fuels and the ones lobbying to keep oil, gas, and coal firmly entrenched in the energy mix.

  • SLB and Equinor come closer to fully autonomous drilling with ‘exciting milestone’ off Brazil

    31 January 2024
    Business & Finance, Business Developments & Projects, Collaboration, Exploration & Production, Project & Tenders, Technology

    SLB and Equinor have made inroads in bringing fully autonomous drilling operations to life while drilling a well section off Brazil.