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Business Developments & Projects

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Business Developments & Projects

Wintershall Dea closing its UAE chapter with exit from massive offshore sour gas project

Wintershall Dea has decided to divest its stake in a giant sour gas development off the coast of the UAE to Thailand’s PTTEP.

about 2 years ago

Business Developments & Projects

ACWA Power and ITOCHU pen ammonia development and offtake deal

ACWA Power and ITOCHU have signed an agreement to explore the codeveloping and offtaking of ammonia from ACWA Power’s green hydrogen project in Egypt.

about 2 years ago

Illustration; Source: ADNOC Logistics and Services

Business Developments & Projects

Twofold increase in LNG vessel orders playing out against the backdrop of elevated newbuilding prices

The number of LNG newbuilding values is perceived to be at a record high with twice as many newbuild orders in 2024 as there were last year.

about 2 years ago

GMS Scirocco; Source: Gulf Marine Services (GMS)

Business Developments & Projects

Vessel gig’s next stage pushes GMS’ backlog to $431.2 million

UAE-based Gulf Marine Services (GMS) has sealed the second phase of a multi-year contract for one of its vessels in the Middle East.

about 2 years ago

Business Developments & Projects

ADNOC signs off on upstream deal enabling SOCAR to come aboard two offshore fields

ADNOC has inked an agreement to transfer a stake in two fields at a concession off the coast of the UAE to SOCAR.

about 2 years ago

Hywind Tampen floating wind farm and Snorre platform; Source: Equinor

Business Developments & Projects

Energy transition needs to pick up the pace to counter uncertainty over net zero targets

Equinor has highlighted that the speed and scale of the energy transition have to increase to reach the 1.5-degree ambition by 2050.

about 2 years 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

New partner comes aboard $28.75 billion first expansion phase of world’s biggest single non-associated gas field

While sealing a multi-year LNG supply deal, QatarEnergy has welcomed a new partner at its giant North Field East (NFE) project, which represents Phase 1 of the larger North Field expansion project.

about 2 years ago

Business Developments & Projects

ACWA Power and Tunisian government partner up for green hydrogen project

ACWA Power has signed a memorandum of understanding (MoU) with the Tunisian government to explore the potential for a project that would produce up to 600,000 tonnes per year of green hydrogen in three phases, for export to Europe.

about 2 years ago

Business Developments & Projects

ADNOC L&S eyes new LNG carrier additions and buys shipping player with 32-tanker fleet

ADNOC L&S has signed an LoI for the construction of LNG carriers with South Korea’s shipbuilder and is buying a Singaporean shipping company.

about 2 years ago

Business Developments & Projects

OPEC+ stretches production cuts into 2025 but presents timeline to ease off oil curbs later on

With geopolitical challenges and economic uncertainties at the forefront, OPEC+ will prolong production cuts into 2025 to prop up oil markets.

about 2 years ago

Business Developments & Projects

AD Ports and partners to develop green methanol facility for maritime transport

AD Ports signed an MoU with Transmar and Orascom Construction to develop a green methanol storage and export facility for maritime transport.

about 2 years ago

Business Developments & Projects

ADNOC strikes low-carbon ammonia, LNG carrier deals with Korean partners

ADNOC secured agreements with companies in the Republic of Korea regarding low-carbon ammonia, LNG carrier shipbuilding, and LPG value chain.

about 2 years ago

Business Developments & Projects

Jack-up rig in Middle East to sport UK player’s red zone monitoring solution

The UK’s Salunda has secured a multi-year contract to install its red zone monitoring solution on a jack-up rig in the Middle East.

about 2 years ago

Rendering of Woodfibre LNG project; Source: Woodfibre LNG

Business Developments & Projects

Bankrolling fossil fuels: 60 giant banks pick up the $7 trillion tab for coal, oil & gas

Report: Over 60 international banks have been keeping the fossil fuel players in business by footing the bill for their further expansion rather than cutting off the purse strings.

about 2 years ago