Valeura has wrapped up the acquisition of upstream oil producing assets from Mubadala Petroleum’s subsidiary, Busrakham Oil and Gas.
In 2023, the world’s top eleven ocean carriers, which include nine members from three global alliances as well as ZIM and Wan Hai Lines, are set to add a whopping 89 large mainline container ships to their fleets, according to Alphaliner. This development is poised to have a significant impact on th
Canada-headquartered upstream oil and gas company Valeura Energy is acquiring the remaining minority interest in its special purpose vehicle subsidiary company Valeura Energy Asia Pte. Ltd, which holds all of the company’s assets in Thailand. Through a share exchange agreement (SEA), Valeura will ac
Following an incident during routine maintenance, which damaged a floating storage and offloading (FSO) unit operated by a Thai subsidiary of Chevron, Thailand has ordered its navy to join the efforts being undertaken to prevent an oil spill from the vessel.
Since the introduction of G7 oil price cap for Russia’s crude oil and refined products there have been speculations on Russia’s so-called shadow fleet being used to evade sanctions. Russia has repeatedly stated that it will not work with the price cap, but the vast majority of seaborne Russian oil s
Seven new members have joined the Methane Abatement in Maritime Innovation Initiative (MAMII), launched in September 2022. New members of the Methane Abatement in Maritime Innovation Initiative (MAMII) include CoolCo, United Overseas Management, Capital Gas, Celsius Tankers, Global Meridian Holdings
Ocean Energy Systems (OES), a technology collaboration program within the International Energy Agency (IEA), has provided an overview of key achievements and progress made in the ocean energy sector in its new annual report for 2022.
Exhaust gas cleaning systems, also known as scrubbers, were installed on 399 ships in 2022, marking a fall of 24% y/y, data from BIMCO shows. The systems are being installed on ships to comply with the IMO 2020 Sulphur Cap as a way of cleaning out sulphur emissions while continuing to burn less expe
Westwood has advised buyers to be mindful of exploration farm-outs, after analysing the results of 419 high-impact exploration wells drilled outside the U.S. and Canada between 2017 and the end of October 2022.
As the world seeks to reduce its reliance on fossil fuels, battery-powered vessels are increasingly seen as a viable alternative to traditional diesel-powered ships. This shift is being driven by a range of factors, including advances in battery technology, the decreasing cost of batteries, and a gr
Following the recent announcement of the split between Maersk and MSC on their 2M Alliance in 2025, questions are being raised on how this might affect other container shipping alliances on the market. In January this year, container shipping giants MSC Mediterranean Shipping Company (MSC) and Maers
South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering (DSME) has won a construction order for two LNG carriers. The shipbuilder disclosed on the stock exchange that the company behind the order was a shipowner from Oceania, without revealing the company’s name. The delivery of the two LN
