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Business Developments & Projects

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Business Developments & Projects

Global energy transition drags its feet as oil & gas reign over energy mix

Against the backdrop of rising greenhouse gas (GHG) emissions, energy security and financial prudence are running the investment policy show, putting the transition to low-carbon and green sources of supply on the back burner, as fossil fuels dominate the energy mix, according to GlobalData, an inte

about 9 months ago
Illustration; Source: Rystad Energy
Business Developments & Projects

Energy outlook: 12 trends set to shape 2026 power spectrum

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With market volatility, geopolitics, and policy repercussions expected to be among the key drivers affecting the global energy landscape, Rystad Energy, an energy market intelligence group, has outlined 12 predictions for the year ahead, noting opportunities and challenges that will unfold alongside

about 9 months ago
Illustration; Source: Westwood
Business Developments & Projects

Downturn in high-impact exploration: Is revival of oil & gas drilling appetite on the cards?

Given that the number of players engaged in high-impact (HI) oil and gas exploration operations has been cut in half since 2014, Westwood Global Energy, an energy market research and consultancy firm, has warned about the uncertainty surrounding new hydrocarbon search attempts, while emphasizing the

about 9 months ago
Illustration; Source: Australian Energy Producers
Business Developments & Projects

New gas supply key to staving off shortfalls looming on Australia’s energy horizon

As Australia takes steps to up its natural gas ante, Australian Energy Producers (AEP), representing the country’s upstream oil and gas exploration and production industry, has emphasized the importance of further exploration and production endeavors to avert potential gaps in gas supply from 2030.

about 9 months ago
EIB commits €490M to Greek link that will end electrical isolation of Northeast Aegan islands
Business Developments & Projects

EIB commits €490M to Greek link that will end electrical isolation of Northeast Aegan islands

The European Investment Bank (EIB) has approved a €490 million financing for an interconnection project that will end the electrical isolation of Greek islands located in the Northeast Aegean Sea. The IPTO North East Aegean Interconnection project will connect the island regions of Lemnos, Lesvos, C

about 9 months ago
Illustration: Source: Wood Mackenzie
Business Developments & Projects

Investment shift from low carbon toward upstream to continue in 2026

After the portfolio recalibrations and restructuring marked the oil and gas industry’s landscape in 2025, Wood Mackenzie, an energy intelligence group, has outlined that the trend will continue in 2026, with oil and gas corporates expected to face “an even tougher strategic balancing act” this year.

about 9 months ago
North Field East (NFE) LNG expansion project will raise Qatar’s LNG export capacity from the current 77 mtpa to 110 mtpa; Source: QatarEnergy
Business Developments & Projects

2025 at a glance: LNG wave sweeps across global gas markets

With energy security still at the forefront, several liquefied natural gas (LNG) projects have been given the green light to proceed to production mode across the globe, with the United States (U.S.) running the show. As a result, 2025 marked the start of the next wave of LNG projects that are antic

about 9 months ago
FPSO; Source: MODEC
Business Developments & Projects

Throwback: Top oil & gas final investment decision picks

As the global oil and gas story expands with new discoveries and projects, many operators have been laying the groundwork to make final investment decisions (FIDs) for the undeveloped assets in their portfolios. Since many companies decided to sanction their existing developments in 2025, Offshore E

about 9 months ago
Armada Olombendo FPSO is operating for Eni off Angola
Business Developments & Projects

2025’s greatest trio of oil & gas, FPSO, and LNG mergers that never came to fruition

While multiple consolidation moves have sprung up across the offshore energy and maritime arenas over the past 12 months, some never bore fruit. Offshore Energy has selected three business combination plays, regardless of whether they were born of truth or fiction, that did not make it to the finish

about 9 months ago
Illustration; Source: ADES
Business Developments & Projects

Ten big consolidation moves across rig, oil & gas, and shipping spheres

As the global consolidation momentum builds against the backdrop of ever-changing and challenging geopolitical conditions and energy realms, many companies engaged in the offshore drilling, subsea, hydrocarbon exploration and production (E&P), and maritime arenas are working to strengthen their plac

about 9 months ago
Offshore Energy Recap 2024
Business Developments & Projects

Readers’ choice: Offshore Energy’s most-read news in 2025

As the offshore energy sector continued to navigate the energy transition and technological development, but also uncertainty, 2025 saw continued shifts in policy, investment, and project development across the global energy landscape. To mark the year’s end, the Offshore Energy editorial team looks

about 9 months ago
FPSO Penguins; Source: Shell
Business Developments & Projects

Highlights reel of top UK oil & gas consolidation plays

The global oil and gas scene is witnessing a wave of consolidation moves through strategic mergers and acquisitions, especially in the United Kingdom (UK), where the windfall tax on oil and gas producers’ profits remains in force. The transformation across Britain’s hydrocarbon industry is gaining g

about 9 months ago
Illustration; Source: Petrobras
Business Developments & Projects

Petrobras rubber-stamps oil & gas project offshore Brazil: FPSO negotiations drawing to a close

Brazilian state-owned energy giant Petrobras has made a final investment decision (FID) for a development in the Sergipe Alagoas Basin off the coast of Brazil. This project in the Northeast region is anticipated to expand the supply of gas.

about 9 months ago
Saipem tasked with more work at Türkiye's largest natural gas field under $425M contract
Business Developments & Projects

Saipem tasked with more work at Türkiye’s largest natural gas field under $425M contract

Italy’s Saipem has secured additional work at the largest natural gas field in Türkiye as part of a new contract with Turkish Petroleum Offshore Technology Center (TP-OTC) worth approximately $425 million. The contract has been secured for the extension of the third phase of the Sakarya gas field de

about 9 months ago