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Business Developments & Projects

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maersk
Business Developments & Projects

Market normalization hits Maersk’earnings as demand woes and phasing in massive orderbook challenges loom

As the demand in the container shipping sector normalizes after a massive surge during COVID-19, the industry majors are reporting lower earnings and bracing for the upcoming period trying to keep discipline in Capex spending. Industry major Maersk reported a better-than-anticipated quarterly profit

about 3 years ago
DeepOcean charters newbuild USV with hybrid diesel-electric propulsion
Business Developments & Projects

In focus: Decarbonisation gaining ever stronger foothold

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Our news this week reflect the increasing activities in vessel decarbonisation and emission cutting in the oil and gas sector as offshore renewable energy continues to broaden both its geographical and technological reach and green hydrogen attracts new firm commitments. With new, more ambitious cor

about 3 years ago
Valaris DS-7 drillship; Source: Valaris
Business Developments & Projects

International offshore rig count activity on the rise

Baker Hughes’ international rig count report shows a boost in the number of offshore rigs in July 2023, as 6 additional units were recorded compared to the month before.

about 3 years ago
Aras Driller jack-up rig; Source: Ocean Oilfield
Business Developments & Projects

WATCH: UAE driller’s 44-year old jack-up rig kicks off its new assignment

Ocean Oilfield has revealed that one of its rigs arrived at an offshore gas field in the UAE a few days ago and started its work for Atlantis.

about 3 years ago
Borr Drilling
Business Developments & Projects

Two Borr Drilling jack-up rigs booked for work in Middle East and Southeast Asia

Borr Drilling has secured letters of award (LOA) for two premium jack-up drilling rigs, which increase the company’s firm backlog by approximately 421 days, excluding optional periods.

about 3 years ago
SEA-LNG: Bio-LNG bunkering is available in almost 70 locations
Business Developments & Projects

SEA-LNG: Bio-LNG bunkering is available in almost 70 locations

Bio-LNG is available in almost seventy ports worldwide, including in Singapore, Rotterdam, and the US east coast, according to an analysis of the green LNG bunkering market published by SEA-LNG, a multi-sector industry coalition promoting LNG as a marine fuel. The coalition added that bio-LNG used i

about 3 years ago
There is NO time for antagonism among marine fuel proponents
Business Developments & Projects

There is NO time for antagonism among marine fuel proponents

As the world witnesses the devastating impact of climate change through catastrophic events like wildfires engulfing the Greek island of Rhodes and northern Algeria, and the occurrence of giant supercells in Italy, the need for urgent and sustainable solutions within the energy industry, the maritim

about 3 years ago
The North Field off Qatar; Source: Qatargas
Business Developments & Projects

With 18 oil & gas projects, worth $60.2 billion, in the works, Qatar set on upping the LNG ante

Qatar’s energy sector is positioned for further growth, solidifying the country’s position as the world’s top exporter of LNG.

about 3 years ago
FSO Safer
Business Developments & Projects

Long-awaited oil removal from ‘ticking bomb’ FSO Safer kicks off in Red Sea

The much-anticipated removal of more than 1 million barrels of oil from the decaying FSO Safer off Yemen’s Red Sea coast started today. The ship-to-ship transfer of oil to the replacement tanker Yemen, formerly known as Nautica, which arrived in Yemen a few days ago, is expected to last 19 days. The

about 3 years ago
MoU signing ceremony between WPDA and Private Office of His Royal Highness Sheikh Ahmed Dalmook Al Maktoum (Courtesy of WPDA)
Business Developments & Projects

UAE company eyes floating solar opportunities in Pakistan

The Water and Power Development Authority of Pakistan (WAPDA) has signed two memorandums of understanding (MoU) with the Private Office of His Royal Highness Sheikh Ahmed Dalmook Al Maktoum of United Arab Emirates for capacity enhancement of existing small hydroelectric power plants and the developm

about 3 years ago
CEM adopts new initiative for scaling low-carbon fuel production
Business Developments & Projects

CEM adopts new initiative for scaling low-carbon fuel production

The Clean Energy Marine Hubs Initiative (CEM-Hubs), the first-of-its-kind platform that brings together the private sector and governments across the energy-maritime value chain to transform maritime transportation and production hubs for future low-carbon fuels, has been adopted by the Clean Energy

about 3 years ago
Transocean's Deepwater Invictus drillship; Source: BHP (now Woodside)
Business Developments & Projects

Transocean’s plethora of new rig deals fetches $1.2 billion

Transocean has won a bundle of new contracts and extensions in Mexico, Australia, Norway, Lebanon, and the East Mediterranean Sea.

about 3 years ago
ADNOC Gas inks $7-9 billion LNG supply deal with Indian Oil Corporation
Business Developments & Projects

ADNOC Gas inks $7-9 billion LNG supply deal with Indian Oil Corporation

UAE’s ADNOC Gas, an integrated gas processing company, has signed a 14-year supply agreement with the Indian Oil Corporation (IOCL) for the export of up to 1.2 million metric tons per annum (mmtpa) of liquefied natural gas (LNG). According to ADNOC Gas, the agreement, valued in the range of $7 billi

about 3 years ago
Johan Sverdup field in the North Sea; Credit: Lizette Bertelsen & Jonny Engelsvoll/Equinor
Business Developments & Projects

Europe redraws black gold map by switching out Russian oil with barrels from other top producers

With the demand for black gold still going strong, Europe has replaced Russian oil barrel for barrel by importing more from other producers.

about 3 years ago