Search results for: race bank

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  • Angola-bound FPSO tucks new construction milestone under its belt – gallery

    21 March 2024
    Authorities & Government, Business & Finance, Business Developments & Projects, Exploration & Production, Regulation & Policy

    Azule Energy has welcomed the progress made in the construction of an FPSO, which is destined to operate off the coast of Angola.

  • China debuts its first methanol bunkering vessel

    19 January 2024
    Business Developments & Projects, Green Marine, Innovation, Outlook & Strategy, Transition, Vessels

    On January 13, 2024, China’s inaugural methanol bunkering ship, Hai Gang Zhi Yuan, embarked on its maiden voyage, following a conversion process at Zhoushan Putuo Changhong Shipbuilding Co. The ship left for Shanghai Port where it was put in operation as an integral part of Shanghai Port Clean Energy Center. The 16,000 cbm vessel, previously […]

  • First publicly available FuelEU Maritime calculator is here

    25 March 2024
    Automation, Business Developments & Projects, Innovation, IT & Software, Technology

    The first publicly available FuelEU Maritime calculator has been released by zero44, a Germany-based provider of digital CO2 management solutions, to help prepare shipowners for costs associated with the upcoming FuelEU Maritime regulation.

  • BP, Shell, TotalEnergies, and Equinor among recipients of second license batch in UK’s 33rd oil & gas round

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

    The NSTA has offered 24 licenses across 74 blocks and part-blocks, which are situated in the Central North Sea, Northern North Sea, and West of Shetland areas.

  • Winds of change sweep across UK’s energy sector

    11 March 2024
    Authorities & Government, Business & Finance, Business Developments & Projects, Environment, Exploration & Production, Regulation & Policy, Transition

    The UK has decided to pull out of the Energy Charter Treaty (ECT) and prolong the windfall tax on oil and gas producers’ profits.

  • Oil & gas alongside green and low-carbon energy: Will such a compass lead the world astray or steer it in the right direction?

    4 January 2024
    Business & Finance, Business Developments & Projects, Exploration & Production, Transition

    Should the world aim for a balancing act to satisfy both energy security and green future aspirations or pick just one?

  • US comes up with new emissions fee for oil & gas industry in methane clampdown

    15 January 2024
    Authorities & Government, Business & Finance, Business Developments & Projects, Environment, Regulation & Policy, Rules & Regulation, Transition

    The U.S. Environmental Protection Agency (EPA) has set out to curb methane emissions from the oil and gas industry with a new proposed rule.

  • ExxonMobil CEO: World in need of plan to address climate change alongside energy needs

    20 November 2023
    Authorities & Government, Business & Finance, Business Developments & Projects, Exploration & Production, Regulation & Policy, Transition

    ExxonMobil is taking several steps to slash its GHG footprint and its CEO believes that oil and gas industry can help the world curb emissions.

  • With oil flowing from Asian offshore field once again, start-up of drilling campaign only days away

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

    Valeura Energy has restarted production from an oil field project in the Gulf of Thailand, following a shutdown due to an incident.

  • Multi-million legal threat brews on UK horizon, as Shell sues Greenpeace for boarding North Sea-bound FPSO

    10 November 2023
    Authorities & Government, Business & Finance, Business Developments & Projects, Environment, Project & Tenders, Regulation & Policy, Rules & Regulation, Vessels

    Shell is in the process of bringing forth one of the biggest legal challenges Greenpeace has ever faced

  • In focus: Hydrogen and CCS – silver bullet or cog in energy transition machine?

    20 October 2023
    Business & Finance, Business Developments & Projects, Carbon Capture Usage & Storage, Equipment, Exploration & Production, Green Marine, Infrastructure, Innovation, Outlook & Strategy, Project & Tenders, Research & Development, Storage, Transition, Vessels

    As the world turns its attention toward a new/old conflict arising in the Middle East, offshore energy players are seeking new ways to curb climate change and bring us closer to a mellifluous cleaner, greener future. The energy transition process is moving ahead with each passing day but there is no silver bullet in reaching […]

  • Euronav lifts option for ammonia-ready VLCC

    12 October 2023
    Business & Finance, Business Developments & Projects, Green Marine, Outlook & Strategy, Transition, Vessels

    Belgian tanker major Euronav revealed that it had lifted the option for a second very large crude carrier (VLCC) newbuild. The option was available under a contract Euronav signed in August with CSSC Qingdao Beihai Shipbuilding, a subsidiary of China State Shipbuilding Corporation (CSSC). The construction of the 319,000 dwt VLCC represents Beihai Shipbuilding’s inaugural […]

  • IEEFA warns of overbuild of LNG import infrastructure in South Korea

    1 December 2023
    Market Outlooks, Outlook & Strategy

    A new report by the Institute for Energy Economics and Financial Analysis (IEEFA) has found that South Korea is rapidly developing liquefied natural gas (LNG) import and storage terminals, presenting a high risk of overinvestment and overcapacity. According to IEEFA estimates, the country’s LNG industry is pouring ₩11.3 trillion ($8.7 billion) into an infrastructure build-out […]

  • Neglected at sea: Seafarer abandonment surges, showing once again that critical ‘S’ is missing in sustainability

    24 January 2024
    Authorities & Government, Business Developments & Projects, Green Marine, Human Capital, Outlook & Strategy, Regulation & Policy, Rules & Regulation, Transition, Vessels

    In a disheartening revelation, the International Transport Workers Federation (ITF) has unveiled alarming statistics regarding the abandonment of vessels in 2023. The figures reflect a worrying increase compared to the previous year, signifying an unsettling trend that demands urgent attention from the global maritime community. Rising tide of abandonments: A total of 132 abandonments were […]

  • DP World raises $1.5 billion for decarbonization

    12 October 2023
    Business & Finance, Business Developments & Projects, Green Marine, Outlook & Strategy, Ports & Logistics, Transition

     Dubai-based port operator DP World has raised USD 1.5 billion through a Green Sukuk to support its global decarbonization efforts. Sukuk are Islamic financial instruments representing ownership and profit-sharing in asset-backed, Sharia-compliant investments. DP World said that the Sukuk was oversubscribed 2.3x due to strong demand from local, regional, and international investors, and is listed […]

  • ‘Good start’ to 2024 for Nexans with record subsea-driven backlog

    24 April 2024
    Business & Finance, Business Developments & Projects, Outlook & Strategy, Project & Tenders, Vision

    Paris-headquartered cable systems designer and manufacturer Nexans has reported a record adjusted backlog of €6.7 billion for its Generation & Transmission segment, a 10.2% increase compared to December 2023, said to be mainly subsea-driven. In its financial results for the first quarter of 2024, Nexans reported sales at standard metal prices of €1,692 million representing the […]

  • With different decarbonization pathways in play, how are NOCs holding up against IOCs?

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

    Wood Mackenzie points out that NOCs and IOCs are making progress at a different pace, as there are multiple roads to a sustainable world.

  • Jadestone expands its stake in Australian offshore oil-producing fields

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

    Jadestone Energy has set the wheels into motion to get additional interest in a project, encompassing oil-producing fields off Australia.

  • ICCT: Liquified gas tankers to blame for 82% of shipping’s methane emissions in 2021

    11 January 2024
    Authorities & Government, Business Developments & Projects, Environment, Green Marine, Outlook & Strategy, Regulation & Policy, Research & Development, Rules & Regulation, Transition, Vessels

    In 2021, an overwhelming 82 percent of methane emissions from international shipping could be traced back to liquefied gas tankers, primarily LNG carriers, according to the International Council on Clean Transportation (ICCT). The data is derived from an analysis conducted using the ICCT’s Systematic Assessment of Vessel Emissions (SAVE) model, Hae Jeong Cho, ICCT Associate […]

  • US – natural gas love affair: Policymakers urged to acknowledge LNG’s ‘vital’ role in clinching global energy security and decarbonization

    15 December 2023
    Business & Finance, Business Developments & Projects, Exploration & Production, Transition

    API is adamant that oil and gas will continue to be at the heart of energy security with LNG further entrenching its transition fuel label.

  • Red Sea crisis escalation: US-UK airstrikes, Houthis’ vessel attacks, spike in oil prices, and tanker trade slowdown

    14 January 2024
    Authorities & Government, Business & Finance, Business Developments & Projects, Collaboration, Environment, Exploration & Production, Market Outlooks, Safety, Vessels

    Recent events in the Red Sea have added fuel to the growing fears about the possibility of a wider conflict breaking out across the Middle East, prompting further concerns over oil flows, supply chains, and energy prices in the region and beyond.

  • Interview: Almost every ocean-going ship type can become a CO2 carrier

    21 November 2023
    Business Developments & Projects, Carbon Capture Usage & Storage, Green Marine, Outlook & Strategy, Regulation & Policy, Transition, Vessels

    In the ever-evolving landscape of maritime innovation, one topic has emerged as a beacon of change and promise – carbon capture in shipping. As global efforts to decarbonize intensify, the role of CO2 capture, liquefaction, and transport is expected to grow in importance, especially in line with the anticipated demand surge. CO2 transport serves as […]

  • IMO makes ‘insufficient progress’ on slashing black carbon emissions from Arctic shipping

    27 February 2024
    Authorities & Government, Regulation & Policy, Rules & Regulation

    The International Maritime Organization (IMO) has agreed new guidance on best practices for cutting black carbon emissions from ships operating in or near the Arctic.

  • With new orders of €13 billion in the bag, Prysmian pinpoints energy transition and electrification as growth drivers

    10 November 2023
    Business & Finance, Business Developments & Projects, Market Outlooks, Outlook & Strategy, Project & Tenders, Transition, Vessels

    Prysmian Group has revealed strong results for the first nine months of 2023, with new orders year-to-date amounting to approximately €13 billion.

  • WEF: MOL, Maersk showing readiness to procure green fuels but price gap remains main barrier to decarbonization

    11 December 2023
    Infrastructure, Market Outlooks, Outlook & Strategy, Transition

    On the margins of COP28, shipping companies Mitsui O.S.K. Lines (MOL) and Maersk are actively sending a signal of readiness to procure green fuels and drive economies of scale.