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Business Developments & Projects

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Illustration; Source: International Energy Agency (IEA)
Business Developments & Projects

Report: Fossil fuel age not running out of gas, as production ramp-up undermines net-zero transition

A new report warns that plans to scale up fossil fuels threaten net-zero targets, derailing the transition to a sustainable future in line with the 1.5°C warming limit.

about 2 years ago
Valaris 121 rig; Source: Valaris
Business Developments & Projects

Valaris anticipates ‘meaningfully’ higher profits in next two years, as rig market tightens further

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Valaris has recorded a strong operational and financial performance during the third quarter of 2023, thanks to a rise in rig demand and day rates.

about 2 years ago
NEOM green H2 project gains ground with arrival of 1st major equipment
Business Developments & Projects

NEOM green H2 project gains ground with arrival of 1st major equipment

NEOM Green Hydrogen Company (NGHC), a joint venture created by ACWA Power, Air Products and NEOM, has reached a milestone in the construction and development of the NEOM green hydrogen plant, by receiving its first delivery of wind turbines at the Port of NEOM in Northwest Saudi Arabia. NEOM said th

about 2 years ago
AD Ports buys 10 vessels in $200 million deal
Business Developments & Projects

AD Ports buys 10 vessels for $200 million

UAE-based AD Ports Group has acquired ten vessels for around $200 million, representing a circa 20% increase in offshore and subsea capacity for the company’s Middle East and Southeast Asia operations. The vessels, bought from offshore supply vessel owner and operator E-NAV, are said to make a well-

about 2 years ago
P&O Maritime Logistics,
Business Developments & Projects

P&O Maritime Logistics: We are assessing a diverse array of fuels

In today’s rapidly evolving landscape, it is no longer a question of whether to decarbonize, but rather how to do it effectively and strategically. The imperative to reduce carbon emissions and embrace sustainability has become an indisputable reality for businesses across industries. The focus has

about 2 years ago
North Field off Qatar; Source: QatarEnergy LNG
Business Developments & Projects

Strengthening of Qatar-China energy ties entrenches gas as ‘central component’ in journey to sustainable future

A recent deal between Qatar’s QatarEnergy and China’s Sinopec bolsters hopes that gas and LNG will power the energy transition engine.

about 2 years ago
QatarEnergy and Sinopec conclude 27-year LNG supply deal
Business Developments & Projects

QatarEnergy and Sinopec conclude 27-year LNG supply deal

Qatar’s state-owned oil and gas company QatarEnergy has signed a partnership agreement with China Petrochemical Corporation (Sinopec) for the North Field South (NFS) expansion project. Furthermore, the two parties signed a long-term sales and purchase agreement (SPA) for the delivery of 3 million to

about 2 years ago
DAI to collaborate with Siemens Energy on green ammonia project in Egypt
Business Developments & Projects

DAI to collaborate with Siemens Energy on green ammonia project in Egypt

Following last year’s memorandum of understanding (MoU) with Suez Canal Economic Zone (SCZONE), German company DAI Infrastruktur has now joined forces with compatriot technology major Siemens Energy to develop its green ammonia project in East Port Said, Egypt. On October 30, 2023, DAI signed an MoU

about 2 years ago
Methanol
Business Developments & Projects

14 methanol-powered ships ordered in October

A total of 14 orders for methanol-powered ships were recorded in October as demand for alternative fuels in the maritime industry continues to rise in line with the ever-stringent regulatory landscape, data from DNV’s Alternative Fuel Insights (AFI) database shows. Some of the most recent orders saw

about 2 years ago
Deepwater Atlas drillship (for illustration purposes); Source: Transocean
Business Developments & Projects

International offshore rig count slips down a few more notches

With the number of offshore rigs on a downward trajectory, Baker Hughes’ international rig count report shows five units less in October 2023 than the month before

about 2 years ago
Illustration; Source: The International Energy Agency (IEA)
Business Developments & Projects

IEA: Redoubling international cooperation ‘vital’ to usher clean energy era faster and end fossil fuel reign

The International Energy Agency’s new report outlines that the energy world is expected to change its stripes by 2030.

about 2 years ago
Dr. Sultan Al Jaber, COP28 President
Business Developments & Projects

New charter urges private sector towards ‘bolder’ climate and net-zero action ahead of COP28

The COP28 Presidency has revealed the launch of a new charter to mobilize and encourage the private sector to take further steps towards accelerating and bolstering their net-zero pledges.

about 2 years ago
QatarEnergy LNG delivers 1,000th cargo to South Hook LNG terminal in UK
Business Developments & Projects

QatarEnergy LNG delivers 1,000th cargo to South Hook LNG terminal in UK

QatarEnergy LNG, previously known as Qatargas, has completed its 1,000th LNG shipment to the South Hook LNG terminal at Milford Haven in the United Kingdom (UK). The landmark delivery was made by the Q-Max LNG carrier Mozah, which already has another landmark achievement to its name, the 10,000th LN

about 2 years ago
GMS Endurance (for illustration purposes); Source: Gulf Marine Services (GMS)
Business Developments & Projects

GMS picks up new deal and two extensions for its vessels

GMS has won one new contract and two extension deals for the vessels in its fleet, raising contracted backlog revenue to $326.2 million.

about 2 years ago