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Business Developments & Projects

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Aramco
Business Developments & Projects

Saudi giant’s profit skyrockets to whopping $161.1 bln with oil & gas seen as ‘essential’ in energy arsenal

Aramco has posted its highest annual profit ever as a listed company, totalling $161.1 billion, amid high demand, tight supply and elevated oil and gas prices.

about 3 years ago
Zim Sammy Ofer
Business Developments & Projects

ZIM CEO: Our LNG-powered newbuilds will improve our cost structure in 2023 and beyond

Closing an exception year, Israeli container shipping heavyweight ZIM is bullish on the outlook, especially as it starts to welcome LNG-powered newbuilds into the fleet. The company reported total revenues for the full year of 2022 worth $12.56 billion, compared to $10.73 billion for 2021, primarily

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about 3 years ago
North Abu Qir PIII (NAQ PIII) platform; Source: Energean
Business Developments & Projects

First gas flows from project off Egypt

Energean has achieved the first gas from a well located offshore Egypt while the remaining wells are expected to come online later this year.

about 3 years ago
Santorini drillship; Source: Saipem
Business Developments & Projects

Offshore drilling upcycle whets contractors’ appetite for rig reactivation with scrapping taking a downturn

Westwood says offshore rig scrapping is at its lowest level in years, as the offshore drilling market’s recovery intensifies.

about 3 years ago
K Shipbuilding
Business Developments & Projects

Al Seer Marine unveils orders for two additional MR tankers, VLGC

Al Seer Marine, a unit of Abu Dhabi-based International Holding Company, confirmed an order for two additional MR tankers at Korea’s shipbuilder K Shipbuilding. The order was disclosed in a stock exchange filing, a month after K Shipbuilding announced the deal without disclosing the name of the ship

about 3 years ago
Transocean's Deepwater-Invictus (for illustration purposes); Source: BHP
Business Developments & Projects

International offshore rig count takes a nosedive

Baker Hughes’ international rig count report shows that the number of offshore rigs took a downturn in February 2023, slipping by 4 units, compared to last month.

about 3 years ago
N-KOM and Kongsberg enter services partnership, LNG/LPG included
Business Developments & Projects

N-KOM and Kongsberg enter services partnership, LNG/LPG included

Nakilat-Keppel Offshore & Marine (N-KOM), founded from a joint venture between Qatar Gas Transport Company (Nakilat) and KS Investment, a wholly owned subsidiary of Keppel Offshore & Marine, and Norwegian tech company Kongsberg have signed a Memorandum of Understanding (MoU) to collaborate in mariti

about 3 years ago
ADNOC and Eni ally on clean energy and sustainability
Business Developments & Projects

ADNOC and Eni ally on clean energy and sustainability

The UAE’s Abu Dhabi National Oil Company (ADNOC) and Italy’s Eni have signed a Memorandum of Understanding (MoU) which outlines a framework of cooperation for future joint projects on energy transition, sustainability, and decarbonisation. Through this agreement, Eni and ADNOC said they will explore

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

In focus: Tackling energy trilemma with oil & gas industry calling the shots

With the global oil and gas industry’s income skyrocketing to nearly $4 trillion in 2022, many are of the opinion that this sector holds the purse strings. Will it tighten or loosen them to invest a considerable chunk in the clean energy transition?

12 minutes read
Excelerate Energy signs extension agreement for FSRU Explorer
Business Developments & Projects

Excelerate Energy signs extension agreement for FSRU Explorer

US-based liquefied natural gas (LNG) company Excelerate Energy has secured a 5-year extension of its time charter agreement with Dubai Supply Authority (DUSUP) for the FSRU Explorer. Commenting on the announcement, Excelerate said it looks forward to continuing the partnership with DUSUP and remains

about 3 years ago
MSC World Europa
Business Developments & Projects

Bloom Energy fuel cells demonstrate increase in efficiency in first major marine deployment

Bloom Energy, a US-based green energy company, has revealed that, in the first major marine deployment, its fuel cells demonstrated a significant increase in electrical efficiency. The 150kW solid oxide fuel cell platform provided auxiliary power to the luxury cruise ship called MSC World Europa whi

about 3 years ago
Lower Zakum; Source: ADNOC
Business Developments & Projects

TotalEnergies expands its upstream portfolio in UAE with several offshore fields

TotalEnergies has inked a deal to acquire CEPSA’s upstream assets in the UAE, adding multiple offshore fields to its asset portfolio.

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

EIA calls for new approach: Throwing carbon prices into the mix to unveil fossil fuel subsidies

The International Energy Agency (IEA) has outlined a new price gap-plus approach that could bring carbon prices and environmental costs into the equation.

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

Security of supply to surpass clean and affordable parts of energy trilemma in 2023, says DNV

DNV, a Norway-based classification society, which predicts that energy security will be the top priority in the energy trilemma this year.

about 3 years ago