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Business & Finance

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UK's first HVDC cable factory gets €23.7M boost from Scottish bank
Business & Finance

UK’s first HVDC cable factory gets €23.7M boost from Scottish state-owned bank

The state-owned Scottish National Investment Bank is investing £20 million (around €23.7 million) in subsea cable manufacturer XLCC which will support the development of the UK’s first HVDC cable factory, located in North Ayrshire, Scotland. The new manufacturing facility is located at the brownfiel

about 1 year ago
Nel halts alkaline electrolyzer production in Norway
Business & Finance

Nel halts alkaline electrolyzer production in Norway

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Norwegian company Nel has decided to temporarily halt production at the alkaline electrolyzer production facility in Herøya, Norway.

about 1 year ago
EPS adopts SulNOx tech to cut emissons and fuel use on minimum 30 vessels
Business & Finance

EPS adopts SulNOx tech to cut emissons and fuel use on minimum 30 vessels

Singapore-based ship management company Eastern Pacific Shipping (EPS) and UK tech provider SulNOx have signed an agreement encompassing investment and adoption of the latter’s products for reducing emissions and fuel consumption.

about 1 year ago
Weco secures grant for renewables-powered offshore charging hub
Business & Finance

Weco secures grant for renewables-powered offshore charging hub

The Hague-based Wave Energy Collective (Weco) has secured funding under the EKOO TSE Electricity 2024 program, backed by the Dutch Ministry of Climate and Green Growth’s Topsector Energiesubsidie initiative, to advance a renewables-driven offshore charging solution for autonomous vessels. According

about 1 year ago
FPSO Atlanta joined the Malaysian FPSO player's fleet as the third managed unit operating off the coast of Brazil; Source: Yinson Production
Business & Finance

$1 billion liquidity injection comes Yinson Production’s way to bankroll FPSO player’s growth aspirations

A new investment shot that will be poured into Yinson Production has been secured with a consortium of international investment firms to pave the way for the Malaysian giant’s growth journey, with a smaller slice of the $1 billion equity financing pie earmarked for the controlling shareholder.

about 1 year ago
Tyra II; Source: TotalEnergies
Business & Finance

TotalEnergies bumps plateau production at giant North Sea gas project to month-end

TotalEnergies has revised its plateau production timeline as ramp-up activities continue to ensure all fields will be up and running at full capacity at its natural gas redevelopment project in the Danish sector of the North Sea.

about 1 year ago
Illustration; Source: Proper Marine
Business & Finance

Norwegian player bolsters design and engineering across maritime & offshore energy arenas with Brazilian firm buy

ABL Group has enlarged its capabilities in the engineering and design segments of the maritime and offshore energy landscape by bringing Proper Marine, a Brazil-based naval architecture and engineering consultancy, into its fold, which enables the latter to merge with the Norwegian company’s design

about 1 year ago
Shell has hired SLB for multi-region deepwater work across several assets; Source: SLB
Business & Finance

Shell taps SLB for ‘major’ multi-region deepwater drilling gigs

SLB has landed a batch of new deals with Shell to handle drilling assignments, spanning several regions, including the UK sector of the North Sea, Trinidad and Tobago, and the Gulf of Mexico alongside others.

about 1 year ago
Shah Deniz Alpha platform; Source: BP
Business & Finance

BP expands 70-year relationship with US firm through deal spanning its global energy portfolio

U.S.-headquartered science, technology, and engineering player KBR has secured a global agreement, which builds upon the duo’s decades-long relationship with BP, the UK-based energy giant.

about 1 year ago
An office building with a rainbow over it
Business & Finance

Duo stepping in to steady the ship at Galp until new CEO is picked

Portugal’s oil and gas company Galp has appointed two board members as interim Chief Executive Officers (CEOs) following the resignation of the firm’s previous leader.

about 1 year ago
International contractor hires Solstad vessel until end of 2027
Business & Finance

International contractor hires Solstad vessel until end of 2027

Norwegian shipping company Solstad Offshore has secured a three-year contract award with an international contractor for the construction support vessel (CSV) Normand Frontier. The firm contract starts immediately and will see the 2014-built vessel fully committed until the end of 2027. Normand Fron

about 1 year ago
A photo of Van Oord's cable laying vessel Nexus at sea
Business & Finance

Van Oord, DEME-CSBC JV to install Fengmiao 1 inter-array cables, foundations

Copenhagen Infrastructure Partners (CIP) has contracted the Dutch offshore construction company Van Oord and the joint venture between Belgian offshore construction specialist DEME and Taiwan’s largest shipbuilder CSBC for installation work at the Fengmiao 1 offshore wind farm in Taiwan. Van Oord’s

about 1 year ago
All green lights in for second Malta-Italy interconnector
Business & Finance

Second Malta-Italy interconnector gets final approval, commissioning set for 2026

The second interconnector between Malta and Italy has officially been approved in both countries following the final permit from the Italian Ministry for the Environment and Energy Security (MASE). The IC2 interconnector will consist of a 122-kilometer high-voltage alternating current (HVAC) electri

about 1 year ago
Shah Deniz Alpha platform off the coast of Azerbaijan; Source: BP
Business & Finance

BP shuts down production at offshore platform, Azerbaijan cuts off gas supplies to Bulgaria and Serbia

A pipeline malfunction has forced BP, the UK-headquartered energy giant, to temporarily stop production from a platform at one of the world’s largest gas-condensate fields and the company’s largest gas discovery ever.

about 1 year ago