With the use of permanent magnets and high-tech bearings, Royal IHC has created the Deep Sea Special Motor – an environmental friendly submerged electric motor for the deep sea mining and oil & gas industries. “One of its unique features is that it is 100% oil free. Seawater can run through the moto
OPEC, Russia, and allies are on the verge of ending the oil price war in an effort to save the oil industry which, in addition to the oil price war consequences, suffered even more as the coronavirus pandemic further curbed the oil demand, creating a whirlwind of adverse effects. However, the allies
The oil price war and the coronavirus pandemic are already taking their toll on the oil and gas services market, with offshore drilling contractors among the most affected segments. One of the major drillers, Noble Corporation, has seen its contracts shortened, rigs stacked and put on standby, and d
The Covid-19 epidemic and the ongoing oil price war have ravaged global energy markets during the last two months, and offshore drilling, in particular, is among the most affected industry segments, according to energy intelligence firm Rystad Energy.
The Maldives Transport and Contracting Company Plc (MTCC) has just released an update on their Centara Three Island Reclamation Project. Last year, MTCC signed a contract with a Thailand hospitality management and holding company, Centara Hotels and Resorts, for the land reclamation works on three i
At least nine of the world’s top planned exploration wells for 2020 are at risk of being suspended as a result of the combined effect on oil and gas activities of the Covid-19 virus and the oil price war, a Rystad Energy impact analysis shows.
The shipbuilding sector has been severely impacted by the ongoing COVID-19 pandemic causing the contracting activity to shrink and newbuild deliveries to get postponed. What is more, the demolition activity, which has been pretty dynamic over the recent period, has also ground to a halt amid lockdow
Tech firm CargoSmart Limited has carried out a pilot project with ocean carrier COSCO Shipping Lines using blockchain to share shipment data with a terminal operator in real-time. Apart from COSCO, Shanghai International Port Group (SIPG), and Tesla (Tesla) took part in the project which took place
Norwegian subsea contractor Ocean Installer is carrying out power cable load out for the CNOOC Liuhua 16-2 field development in the South China Sea. The CSV Connector has arrived at Aker Solutions’ facility in Mobile, Alabama, where Ocean Installer is working together with this engineering company a
Energy logistics provider AET signed an agreement with Total’s unit, Chartering and Shipping Services, for the time charter of two LNG dual-fuel VLCCs. The two newbuilds are scheduled to be delivered to AET, a unit of the Malaysian shipping giant MISC, from the first quarter of 2022, AET said in a s
The African Energy Chamber, a chamber of networks, transactions, and partnerships at the helm of Africa’s growing energy industries, has urged OPEC and OPEC+ to reach a deal on ending the oil price war which has sent the oil price tumbling to historic low levels.
In line with its objective to divest $5 billion during 2019-2020, Total is pursuing the divestments of several non-core assets in both exploration and production (Brunei) and marketing & services (Sierra Leone and Liberia).
