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Business Developments & Projects

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Illustration; Source: Westwood
Business Developments & Projects

2024 offshore drilling outlook: Westwood’s top three predictions for rig market

Westwood Global Energy, an energy market research and consultancy firm, has outlined its top three predictions for 2024.

about 2 years ago
FPSO Prosperity working at ExxonMobil's third oil project on the Stabroek Block offshore Guyana; Source: ExxonMobil
Business Developments & Projects

Mergers and acquisitions: Blockbuster oil & gas market consolidation moves in 2023

The oil and gas industry become a hotspot for multi-billion mergers and acquisitions in 2023 while hinting at further consolidation in the fossil fuel machinery.

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about 2 years ago
Illustration; Source: Wood Mackenzie
Business Developments & Projects

Energy outlook: Is gas and LNG growth freeze on the cards in 2024?

Wood Mackenzie has come up with ten predictions for the energy industry in 2024, which hint at a downturn in gas, LNG.

about 2 years ago
Illustration; Source: U.S. Energy Information Administration (EIA)
Business Developments & Projects

2023 state of energy in review: Gas and green shift as centerpieces of future mix

Following the global energy crisis in 2022, energy security reigned supreme on countries’ energy agendas during 2023.

about 2 years ago
Maersk’s security team fires back on Houthi in Red Sea, thwarts boarding, prompting another operational pause
Business Developments & Projects

Maersk’s security team fires back on Houthi in Red Sea, thwarts boarding, prompting another operational pause

Just days after announcing its gradual return to the Red Sea, global cargo shipping giant Maersk finds itself at the center of escalating tensions as its vessel, the Maersk Hangzhou, becomes the target of a missile and small boat swarm by Yemen’s Houthi Group. The assault occurred approximately 55 n

about 2 years ago
AD140 jack-up rig; Source: Arabian Drilling
Business Developments & Projects

WATCH: All about upgrade works for three new jack-up rigs in drilling player’s fleet

Arabian Drilling has provided an update on the upgrades to its new offshore rigs, which have been hired for drilling ops by Aramco.

about 2 years ago
Mawani and MEDLOG
Business Developments & Projects

Mawani, MSC’s MEDLOG join forces on $40 million logistics park in Saudi Arabia

The Saudi Ports Authority (Mawani) and MEDLOG, the logistics arm of the Swiss Mediterranean Shipping Company (MSC), have signed an agreement to establish the first-ever integrated logistics park and re-export zone at Dammam’s King Abdulaziz Port in Saudi Arabia.

about 2 years ago
Illustration; Source: Shell
Business Developments & Projects

QatarEnergy scores five-year crude supply deal with Shell

Qatar’s state-owned oil and gas company QatarEnergy has entered into a five-year crude oil supply agreement with Shell International Eastern Trading Company, Singapore (Shell). Commencing in January 2024, the deal encompasses the supply of up to 18 million barrels annually of Qatar Land and Qatar Ma

about 2 years ago
LNG
Business Developments & Projects

MSC containership attacked in Red Sea amid liners’ gradual return to strategic waters

MSC United, a Post Panamax containership owned by Swiss-based Mediterranean Shipping Company (MSC), was attacked while transiting the Red Sea. The attack was confirmed by the Yemeni Armed Forces’ Spokesperson Yahya Sare’e, saying that the ship was targeted by naval missiles. The statement reiterated

about 2 years ago
Illustration; Source: Maersk
Business Developments & Projects

Maersk planning to resume Red Sea transits

Danish container shipping major Maersk is preparing to resume vessel transits through the Red Sea following the deployment of naval assets in the region under the multi-national security initiative Operation Prosperity Guardian (OPG). Namely, the U.S. has launched a new multinational security operat

about 2 years ago
Port
Business Developments & Projects

Navigating the new normal: Vessel rerouting spurs higher emissions as ships avoid the Red Sea

In recent weeks, the Red Sea has become the epicenter of heightened tensions as Yemen’s Houthi group escalated their attacks on commercial vessels, sending shockwaves throughout the maritime industry. Germany’s Hapag-Lloyd and Hong Kong’s OOCL joined on Thursday numerous shipping companies, includin

about 2 years ago
Vitol
Business Developments & Projects

Vitol completes first biofuel delivery in UAE, consolidates shipping activities

Switzerland-based energy and commodities company Vitol has completed its first biofuel deliveries in Fujairah, the United Arab Emirates (UAE).

about 2 years ago
methanol bunkering Singapore
Business Developments & Projects

Meeting IMO’s 2030 targets not out of grasp?

Despite the challenges that defined this year, the maritime industry may be closing the chapter on 2023 with a sense of optimism. Namely, BIMCO’s recent analysis provides a beacon of hope, suggesting that the International Maritime Organization’s (IMO) ambitious goal of achieving 5% zero or near-zer

about 2 years ago
Courtesy of Harbour Energy
Business Developments & Projects

Harbour Energy getting its hands on Wintershall Dea’s E&P portfolio, bar Russian one, for $11.2 billion

Harbour Energy has the wheels into motion to acquire all of Wintershall Dea’s assets, aside from the ones in Russia, for $11.2 billion.

about 2 years ago