Business & Finance
Anglesey tidal energy project in line for £9 million funding boost
The Morlais tidal stream energy project has taken a significant step forward following approval of its outline business case by the North Wales Economic Ambition Board.
World’s recoverable oil resources take a hit, Rystad says
The world’s remaining recoverable oil resources are now seen as 9% slimmer but the commercial volumes can keep global warming below 1.8˚C.
Novatek subsidiary to develop Russia’s LNG fuel market
Russia’s largest independent natural gas producer Novatek has decided to create a subsidiary called ‘Novatek – LNG Fuel’ which will be in charge of developing Russia’s LNG fuel market.
TEAMER backs 14 marine renewable energy projects
The U.S. Testing Expertise and Access to Marine Energy Research (TEAMER) program has selected 14 marine energy projects to receive testing and technical support as part of its third call for applications.
Energy transition takes spotlight in Aker Solutions’ record orderbook
Aker Solutions reported an order intake of NOK 12.2 billion in the second quarter of 2021, said to be the strongest in several years, of which about 60% is related to energy transition work. Aker Solutions saw its orderbook go up almost 30% in Q2 2021 compared to the same period last year, equaling
Carbon Clean to carry out FEED on Acorn carbon capture plant
CO2 separation tech provider Carbon Clean has been awarded the contract to carry out the front-end engineering design (FEED) services for the Acorn carbon capture plant at St Fergus.
Seaspan pockets $750 million from “blue transition” bonds
Seaspan Corporation, a subsidiary of Atlas Corp., has raised $750 million in senior unsecured notes in the U.S., to help fund projects that “would reduce the environmental impact of its fleet.”
MODEC and TOYO in talks for FPSO joint venture
Japan’s FPSO provider MODEC and Toyo Engineering Corporation are entering into talks to study an alliance for FPSO vessels.
Ardyne and Equinor jointly developing well decommissioning tech
UK-based Ardyne is launching a new joint industry project (JIP) with Norwegian energy company Equinor to further develop its well decommissioning technology TITAN RS.
Siem Offshore picks new chief financial officer
Offshore vessel owner Siem Offshore has named a new chief financial officer of the company, effective from 1 August 2021.
Schlumberger and Halliburton win big as ADNOC dishes out $763.7 million in new deals
UAE’s oil and gas giant ADNOC is making an investment of $763.7 million in integrated rigless services on six of its artificial islands.
Unmanned underwater vehicles market at $4.1 billion revenue in 2020
The global unmanned underwater vehicles (UUVs) market generated $4,104.2 million in revenue in 2020, according to research by P&S Intelligence. The market is said to be driven by the increasing requirement for maritime security equipment, advancements in underwater inspection systems, and surging sp
Petrofac gets three-year gig in Southern North Sea
Petrofac has won a three-year contract with ONEgas, a cross-border asset between Shell UK and the Nederlandse Aardolie Maatschappij.
PetroRio hires Ocyan rig for Frade, Wahoo work off Brazil
Brazilian oil and gas company PetroRio has hired Ocyan Drilling’s semi-submersible rig for the Frade field revitalization campaign and the Wahoo field development.