Business Developments & Projects
Princess Royal unveils £420 million Aberdeen Port expansion
The Port of Aberdeen, the UK’s oldest business, now boasts the country’s newest harbor, signaling a vibrant future for energy, trade, and tourism in Scotland’s journey towards net zero emissions. Namely, the port’s £420 million (USD 514 million) expansion project was officially inaugurated on Friday
In focus: Is climate crisis a ‘fossil fuels crisis’?
With only two months left until the COP28 climate summit in Dubai, all eyes are turned to global leaders to take concrete steps to keep the goal of limiting global warming to 1.5 °C within reach. While the fossil fuels industry faces growing dissatisfaction from environmental activists, leaders from
UK’s shift in net-zero policy raises red flag: Is this a godsend for people’s pockets or wishful thinking?
A deep dive into the backlash and other prominent reactions related to the UK’s Prime Minister’s recent changes in net-zero policy.
Itochu & Peninsula ally on development of ammonia bunkering in Spain
General trading company Itochu Corporation and marine fuels supplier Peninsula Petroleum have executed a memorandum of understanding (MoU) on the joint development of ammonia bunkering in Spain. Itochu stated that, together with Peninsula and future partners, it aims to establish a global ammonia su
Wintershall Dea preparing to drill Norwegian Sea wildcat with Transocean rig
Wintershall Dea has secured a drilling permit from Norway’s authorities to spud a wildcat well in the Norwegian Sea.
Workers protest against HHLA’s partial sale to MSC
In a show of collective dissent, hundreds of employees of Hamburger Hafen und Logistik AG (HHLA) rallied on Tuesday to protest against the proposed partial sale of the company to the Swiss container shipping giant, MSC (Mediterranean Shipping Company). The demonstrators marched from the HHLA headqua
North Sea well yields no hydrocarbons
Equinor, on behalf of Aker BP, is in the process of concluding the drilling of an exploration well in the North Sea.
Ulstein Verft to build new Nexans cable-laying vessel
Nexans Marine Operations has placed an order with Ulstein Verft for the construction of its new cable-laying vessel (CLV), said to be an updated version of the Nexans Aurora. The “large” DP3 vessel, based on the Nexans Aurora design as developed by Skipsteknisk, will be able to carry out the transpo
Green light for Equinor to deploy Transocean rig for drilling ops
Equinor has received consent to use one of Transocean’s semi-submersible rigs for exploration drilling at a block in the Norwegian Sea.
50Hertz finds contractors for boulder removal
German transmission system operator (TSO) 50Hertz Transmission has selected two contractors to perform boulder removal in the Baltic Sea and North Sea. Germany’s Heinrich Hirdes and UK-based Hughes Subsea Services have secured contracts with 50Hertz Offshore for boulder removal services on the cable
Survey on schedule for world’s first bi-directional subsea link
A geophysical inspection survey is set to kick off in October along the length of the operational WesternLink submarine HVDC interconnector in the UK. The 390-kilometer WesternLink includes two HVDC cables that extend from Hunterston in the Firth of Clyde, through the North Channel, to the west and
CMA CGM’s 13K TEU LNG-powered containership hits the water
A colossal containership sporting a green livery and a prominent LNG-powered designation on its hull has hit the waters at Chinese shipbuilding major Hudong Zhonghua. The LNG dual-fuel 13,000TEU container ship (H1841A), named CMA CGM Paraty, was built for the French CMA CGM Group. The ceremony was h
Elyse Energy, Hy24 and Mirova pen e-fuels financing deal
E-fuels company Elyse Energy, Hy24, managing a clean hydrogen infrastructure fund, and Mirova, an affiliate of Natixis Investment Managers, have signed a financing deal to support the development of Elyse Energy’s e-methanol and sustainable aviation fuels (SAF) projects in France and Spain. Specific
Industry partners kick off construction works on the largest European floating solar plant
A consortium made up of French, Belgian and Luxembourgian companies, led by renewable energy developer Q Energy, has started with the construction of a 74.3MWp floating solar plant in the northeastern France – said to be the largest such power plant in Europe.