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Business Developments & Projects

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NewMed Energy
Business Developments & Projects

BP and ADNOC buying stake in Israel’s NewMed for nearly $3.99 billion

BP and ADNOC have made a non-binding offer to take NewMed Energy private through an acquisition of the free float and a partial acquisition of Delek’s stake.

about 3 years ago
Illustration; Source: International Energy Agency (IEA)
Business Developments & Projects

With over 140 carbon capture, utilisation, and storage hubs in development, 2022 pushes CCUS to new heights

IEA: More than 140 new CCUS projects were announced, ramping up planned storage capacity by 80 per cent, and capture capacity by 30 per cent.

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about 3 years ago
ADNOC, Currenta, and Germany’s North Rhine-Westphalia partner up for ammonia value chain
Business Developments & Projects

ADNOC, Currenta, and Germany’s North Rhine-Westphalia partner up for ammonia value chain

Abu Dhabi National Oil Company (ADNOC), a provider of lower-carbon intensity energy, has announced that it will explore opportunities to support the climate-neutral transformation of industry through the creation of a low-carbon ammonia value chain with state government and industry representatives

about 3 years ago
Shipbreaking
Business Developments & Projects

Wreckdock sets sights on recycling up to 52 ships annually in its new facility

Wreckdock, a Jubail-based offshore vessel recycling company, has revealed plans to develop a safe and sustainable facility in Saudi Arabia for the circular demolition of vessels. The company plans to build four drydocks from 350 meters to 500 meters long with eight quays equipped with heavy-duty cra

about 3 years ago
Shelf Drilling Tenacious jack-up rig; Source: Shelf Drilling
Business Developments & Projects

Oil & gas boom and rig shortage fuel Shelf Drilling CEO’s hopes of multi-year upcycle for jack-ups

With the oil and gas sector in high demand, Shelf Drilling is envisioning further offshore drilling market improvements, especially within the jack-up segment.

about 3 years ago
HHI
Business Developments & Projects

AMPTC orders gas carrier duo at Hyundai Heavy

Arab Maritime Petroleum Transport Company (AMPTC) has placed an order for the construction of two very large gas carriers at South Korean Hyundai Heavy Industries (HHI). The two VLGCs are slated for delivery by the end of August 2026, HHI’s parent, Korea Shipbuilding & Marine Engineering (KSOE) said

about 3 years ago
Perro Negro 12 jack-up rig; Source: Ocean Challenger
Business Developments & Projects

WATCH: Saipem’s recently named jack-up rig leaves shipyard ahead of new gig

A 300-ft jack-up drilling rig built by CIMC Raffles has joined the fleet of Italy’s contractor Saipem, following a naming ceremony in China ahead of a five-year contract in the Middle East.

about 3 years ago
MAMII members
Business Developments & Projects

7 new members join methane busting initiative

Seven new members have joined the Methane Abatement in Maritime Innovation Initiative (MAMII), launched in September 2022. New members of the Methane Abatement in Maritime Innovation Initiative (MAMII) include CoolCo, United Overseas Management, Capital Gas, Celsius Tankers, Global Meridian Holdings

about 3 years ago
Illustration; Source: Shell
Business Developments & Projects

Shell keeps the top spot as most valuable oil & gas brand with Aramco at its heels

Shell remains the world’s most valuable oil and gas brand for the ninth consecutive year, however, Aramco is closing the gap.

about 3 years ago
Sustainable Marine’s PLAT-I 6.40 platform deployed at Grand Passage in Nova Scotia (Courtesy of Sustainable Marine)
Business Developments & Projects

IEA-OES: Ocean energy advancements made across the globe in 2022

Ocean Energy Systems (OES), a technology collaboration program within the International Energy Agency (IEA), has provided an overview of key achievements and progress made in the ocean energy sector in its new annual report for 2022.

about 3 years ago
Aramco and Linde Engineering to develop ammonia cracking technology
Business Developments & Projects

Aramco and Linde Engineering to develop ammonia cracking technology

Energy company Aramco and gas and engineering company Linde Engineering have signed an agreement to jointly develop a new ammonia cracking technology, using their experience and capabilities in industrial research and development, lower-carbon hydrogen, and ammonia cracking technology. Aramco said t

about 3 years ago
Illustration; Source: Westwood
Business Developments & Projects

With exploration farm-outs of higher risk wells being more common, Westwood urges buyers to beware

Westwood has advised buyers to be mindful of exploration farm-outs, after analysing the results of 419 high-impact exploration wells drilled outside the U.S. and Canada between 2017 and the end of October 2022.

about 3 years ago
Oman makes multi-billion-dollar hydrogen move
Business Developments & Projects

Oman makes multi-billion-dollar hydrogen move

Omani hydrogen company Hydrom, a subsidiary of Energy Development Oman (EDO), has signed six term-sheet agreements for hydrogen production worth more than RO 20 billion (around $51 billion) over the next seven years. The agreements were signed with developers from Belgium, the Netherlands, the Unite

about 3 years ago
Illustration; Source: Rystad Energy
Business Developments & Projects

Offshore oil & gas set for growth with $214 bln of investments in the pipeline

With more than $200 billion of greenfield investments expected by 2025, the offshore oil and gas sector is expected to get back in the spotlight, says Rystad Energy.

about 3 years ago