Malaysian rig owner Velesto Energy is progressing on the insurance claims and it has issued a notice of abandonment for its NAGA 7 rig, which tilted and submerged off Malaysia in May 2021. On 3 May 2021, an incident involving Velesto NAGA 7 drilling rig occurred due to the penetration of one of its
Borr Drilling is optimistic and encouraged by signs of shallow water rig market recovery amid strong tendering and contracting activity.
A historic ruling has shaken the energy market this week after a Dutch court ordered oil major Shell to reduce its carbon emissions by 45 per cent by 2030 compared with 2019 levels. The decision was delivered in connection with a climate change case filed against Shell in 2019 by Dutch environmental
Indonesian state-owned oil and gas company Pertamina plans to build a small-scale LNG regasification unit at its Cilacap oil refinery, Java.
Offshore accommodation rig provider Floatel International has been awarded a new contract by Shell in the Philippines.
South Korean shipping major HMM, Korea Shipbuilding & Offshore Engineering (KSOE), Korean Register (KR), LOTTE Fine Chemical, Lotte Global Logistics and POSCO have signed a memorandum of understanding (MoU) to seek feasible solutions on the green ammonia supply chain.
Containership owner and operator Seaspan Corporation, part of Atlas Corp., has entered into a note purchase agreement to issue, in a private placement, $500 million principal amount of fixed rate, sustainability-linked senior secured notes.
The discussion on carbon pricing in the maritime industry is heating up, as industry stakeholders urge for a market-based measure to finally incentivize the sector’s decarbonization journey. In a nutshell, carbon pricing would impose a cost on emitting greenhouse gases (GHGs), pushing the sector to
South Korean shipbuilding giant Korea Shipbuilding & Offshore Engineering Co. (KSOE) has secured several contracts for the construction of a total of six vessels.
Several new energy transition developments in the offshore energy and maritime sectors have made headlines this week, contributing to the global 2050 net-zero targets and – at least to some extent – to the ambitious path that International Energy Agency (IEA) mapped in its latest report. Climate ple
Busan Port Authority (BPA), the governing body of the South Korean Port of Busan, has decided to integrate 5G mobile edge computing (MEC) convergence technology into crane remote controlling in an effort “to make the port safer and smarter”.
The energy transition represents $14 trillion worth of uncertainty for upstream oil and gas, according to a new report by energy intelligence group Wood Mackenzie.
