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Business & Finance

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China leads in total committed investments in $110B clean hydrogen industry, report finds
Business & Finance

China leads in total committed investments in $110B clean hydrogen industry, report finds

More than 500 clean hydrogen projects worldwide have reached maturity, representing $110 billion in investments, with China occupying the leading position in total committed investments and renewable hydrogen production, according to the Hydrogen Council’s new annual publication.

about 1 year ago
Valaris DS-12 drillship; Source: Valaris
Business & Finance

BP’s dash for gas: Five-well drilling campaign on Mediterranean’s horizon

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BP has taken steps to expand its natural gas arsenal in the Mediterranean Sea by striking a deal with Egypt for a multi-well drilling campaign, which is expected to yield new finds that will prolong the lifespan of existing production facilities in the West Nile Delta.

about 1 year ago
Illustration; Source: Next Geosolutions
Business & Finance

NextGeo opens entity in ‘region of crucial importance for oil & gas sector’

Italy’s Next Geosolutions (NextGeo) has opened a new entity in the Middle East, described as a strategic initiative as part of the company’s expansion plan, aimed at strengthening its operational capacity in a “region of crucial importance for the oil & gas sector”. Next Geosolutions Middle East (FZ

about 1 year ago
Courtesy of Astro Offshore
Business & Finance

Two new additions expand UAE player’s fleet to 44 vessels

Dubai-based offshore vessel operator Astro Offshore, an Adani Group Company, has enlarged its fleet with two platform supply vessels (PSVs), bolstering the UAE-headquartered firm’s fleet versatility.

about 1 year ago
Yara
Business & Finance

Hydrogen associations team up to drive uptake of hydrogen value chains

Hydrogen Europe Research (HER) and the Clean Hydrogen Mission (CHM) have signed a memorandum of understanding (MoU) in Busan, South Korea, intending to speed up the development and uptake of integrated clean hydrogen value chains across developed and developing regions.

about 1 year ago
Illustration; Source: Rystad Energy
Business & Finance

Potential imbalance in oil demand and supply on the cards

With data showing the availability of proven reserves for only 14 years of current production, Rystad Energy, an energy market intelligence group, has pointed out that in a scenario where oil demand is on the rise, supply may struggle even with high prices, but if the energy transition gets a boost,

about 1 year ago
Courtesy of EnerMech
Business & Finance

Middle East operator keeping EnerMech busy for two more years

EnerMech, an Aberdeen-headquartered integrated solutions specialist, has landed a multi-year contract extension in the Middle East with Dubai Petroleum, a UAE-based oil and gas operator.

about 1 year ago
CMA CGM switches Syria’s €200M Latakia port expansion project into high gear
Business & Finance

CMA CGM switches Syria’s €200M Latakia port expansion project into high gear

French shipping and logistics major CMA CGM has decided to accelerate the launch of the second phase of the Latakia Port expansion project in Syria.

about 1 year ago
Kent buys decommissioning services firm in bid to become full-service energy provider
Business & Finance

Kent buys decommissioning services firm in bid to become full-service energy provider

As part of its goal to become a full-service partner across the energy lifecycle, Dubai-headquartered engineering and services company Kent has signed a binding agreement to acquire Exceed (XCD) Holdings Limited, a Scottish provider of well management, subsurface and decommissioning engineering serv

about 1 year ago
Illustration; Source: Santos
Business & Finance

$19 billion Santos takeover in limbo: Four-week deadline extension looms as talks continue

Santos is facing a multi-week extension of the deadline for the negotiations surrounding an $18.7 billion non-binding indicative offer made by a consortium spearheaded by XRG, a subsidiary of Abu Dhabi National Oil Company (ADNOC), which entails Abu Dhabi Development Holding Company (ADQ) and global

about 1 year ago
Al Zuwair LNG vessel; Source: NYK
Business & Finance

QatarEnergy’s LNG carrier fleet becomes one vessel richer

A joint venture encompassing Japanese shipping companies NYK and Kawasaki Kisen Kaisha (K Line), Malaysia’s energy-related maritime services provider MISC, and China LNG Shipping (Holdings) Limited (CLNG) has taken delivery of a new liquefied natural gas (LNG) carrier built for QatarEnergy, as part

about 1 year ago
Tekmar
Business & Finance

Tekmar’s $1.6 million contracts in Middle East to keep it busy until end of October

UK-headquartered Tekmar Group has secured two offshore grouting contracts in Qatar with a total value of approximately $1.6 million, supporting subsea infrastructure inspection, maintenance and repair (IMR) campaigns. The contracts, awarded by two existing customers, cover the provision of pipeline

about 1 year ago
Chinese subsea cable maker to establish manufacturing facility in Saudi Arabia
Business & Finance

Chinese subsea cable maker to establish manufacturing facility in Saudi Arabia

To accelerate growth in the Middle East and enhance local industrial capabilities as part of its global strategy, China’s ZTT Submarine Cable & System is planning to set up a manufacturing facility in Saudi Arabia. By establishing manufacturing operations in Saudi Arabia, ZTT said it aims to directl

about 1 year ago
Thailand’s Mermaid Maritime secures $500M in Middle East project awards
Business & Finance

Thailand’s Mermaid Maritime secures $500M in Middle East project awards

Thailand-headquartered subsea and offshore drilling services company Mermaid Maritime Public Company Limited has secured multiple project awards in the Middle East that have a combined value of approximately $430 to $500 million. The awards cover the delivery of a comprehensive suite of services, in

about 1 year ago