Product tanker newbuild deliveries are expected to reach 12 million deadweight tonnes (dwt) in 2025, with deliveries set to jump 256% compared to the 3.4 million dwt delivered in 2024, shipping association BIMCO revealed.
Chevron has drilled an exploration well in the Orange Basin off the coast of Namibia, which did not yield any commercial hydrocarbon quantities.
UK-headquartered oil and gas company Trident Energy has completed the acquisition of Chevron’s Congolese subsidiary and its in-country assets and a working interest in two fields from TotalEnergies off the coast of Congo.
The batch of new projects, which are expected to reach the EPC stage this year, is anticipated to lead to awards worth billions of dollars for jobs related to associated subsea equipment, offshore platforms, floating production units, and liquefied natural gas (LNG) equipment and facilities, based o
Saipem has disclosed progress in bringing a jacket for an Angola-bound offshore platform to life. The platform, set to be used on a natural gas project in Africa, is perceived to be Angola’s first non-associated gas development.
Eco (Atlantic) Oil & Gas has completed the transaction with compatriot Africa Oil Corp. enabling the latter’s subsidiary to increase its stake in a block offshore South Africa.
U.S.-headquartered science, technology, and engineering player KBR has secured a global agreement, which builds upon the duo’s decades-long relationship with BP, the UK-based energy giant.
Shell has decided to write down $400 million, citing technical and geological difficulties encountered at the petroleum exploration license (PEL) 39, as its oil discovery in the Orange Basin off the coast of Namibia cannot be confirmed for commercial development at this point.
Described as the maritime industry’s “exceptional newbuilding year”, 2024 yielded a record number of LNG-fueled ship deliveries, according to the latest data from DNV’s AFI platform.
Perenco has picked a liquefied natural gas (LNG) liquefaction technology partner for its floating LNG (FLNG) project in Gabon, West Africa. Thanks to this, Aragon, a Norway-headquartered engineering, procurement, and construction (EPC) player, which is part of Seatrium, will work on the firm’s FLNG
The global containership order book hit a new record in 2024 as the sector prepares to replace aging ships that are not compliant with new environmental regulations. On the other hand, the scrapping volumes are steadily declining, falling in the last three years well below average figures.
KCA Deutag has landed new multimillion-dollar drilling assignments and extensions across the Middle East, Africa, Latin America, and the UK.
