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Axial Skelter made by Spiralis Energy, a tidal energy generator

Business & Finance

UK gas producer invests in tidal power with stake in Spiralis Energy

UK gas producer Kistos Holdings has taken a stake in Spiralis Energy, a compatriot tidal power company, as part of its sustainability drive to support next-generation renewable technologies. According to Kistos Holdings, the company’s investment supports Spiralis Energy’s Axial Skelter tidal power s

about 1 year ago

VARD-built cable layer destined for Danish subsea specialist prepping for sea trials

Business & Finance

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VARD-built cable layer destined for Danish subsea specialist prepping for sea trials

Denmark’s subsea specialist NCT Offshore is planning to carry out sea trials for its new cable-laying vessel (CLV) constructed by Norway’s ship designer and shipbuilder VARD later this month. NCT placed the order for the 95-meter-long CLV Freja with VARD in early 2023, with Vard Design in Ålesund, N

about 1 year ago

Business & Finance

Wallenius Wilhelmsen inks $580 million multi-year shipping contract

Norwegian shipping and logistics company Wallenius Wilhelmsen has signed a multi-year shipping contract with an undisclosed automotive manufacturer.

about 1 year ago

Business & Finance

With new EU funding, Northern European ports to enable shore power for boxships by 2030

Four Northern European ports have been granted EU funding for projects to reduce emissions from containerships moored at their quays.

about 1 year ago

Ocean Apex rig; Source: Diamond Offshore, now part of Noble Corporation

Business & Finance

Transocean, Noble, Valaris, Borr, and Odfjell Drilling fleets’ $23 billion backlog spotlights state of play in booming rig market

Transocean, Noble Corporation, Valaris, Borr Drilling, and Odfjell Drilling have secured a combined total backlog of $23.22 billion in the third quarter of 2024, which is higher than $23.03 billion in the second quarter of 2024 and $22.7 billion in the third quarter of 2023.

24 minutes read

Aker BP's CO2 storage licenses peer reviewed by ABL firm

Business & Finance

Aker BP’s CO2 storage licenses undergo technical peer review by ABL firm

Norway’s AGR, part of the energy and marine consultancy group ABL Group, has delivered a technical peer review of two carbon storage licenses in the Norwegian North Sea for compatriot E&P company Aker BP. AGR conducted an independent third-party technical peer review of the EXL005 Poseidon license,

about 1 year ago

Business & Finance

EXMAR sets up new entity to operate dual-fuel LPG/ammonia carrier newbuilds

Belgian shipping company EXMAR has opened a new entity, EXMAR LPG France, which will own and operate six newbuild dual-fuel LPG/ammonia midsize gas carriers (MGCs) under construction at HD Hyundai Mipo in South Korea. The company announced the opening of the new French entity in its third quarter re

about 1 year ago

Business & Finance

German hydrogen producer on the lookout for new investor amid financing infrastructure shift

German green hydrogen producer HH2E has decided to file for self-administration and pursue a structured corporate restructuring process after the company’s majority shareholder voted against providing financing for HH2E’s first green hydrogen production facility in Lubmin. Near the coast, in Lubmin

about 2 years ago

Business & Finance

First sales and purchase agreement inked for UAE’s low-carbon LNG project

Abu Dhabi National Oil Company (ADNOC) has signed a sales and purchase agreement (SPA) with Germany’s Securing Energy for Europe (SEFE) for the long-term supply of low-carbon liquefied natural gas (LNG) from the Ruwais LNG plant in the UAE, set to be the first LNG export facility in the Middle East

about 2 years ago

Business & Finance

Hellenic Cables gets turnkey contract for project aimed at improving energy reliability of Greek islands

Greece’s Hellenic Cables has secured a turnkey contract with Greek transmission system operator (TSO) Independent Power Transmission Operator (IPTO) for the submarine interconnection of the Ionian islands. Under the contract, Cenergy Holdings’ cable segment is in charge of the design, supply, and in

about 2 years ago

Ursula von der Leyen, President of the European Commission; Image credit: World Economic Forum

Business & Finance

Von der Leyen: Investment in European hydrogen to grow by 140% in 2024

Investment in European hydrogen is set to grow by 140% in 2024, according to European Commission President Ursula von der Leyen.

about 2 years ago

Business & Finance

ExxonMobil buys FPSO working off Guyana for $1.23 billion

U.S.-headquartered ExxonMobil has closed the purchase of a floating production, storage, and offloading (FPSO) vessel working in Guyana from SBM Offshore, while the Dutch FPSO operator will continue operating and maintaining the vessel. ExxonMobil Guyana Ltd. and BM Offshore completed the transactio

about 2 years ago

Business & Finance

Final preparations for OEEC 2024 underway

Offshore Energy Exhibition & Conference 2024 (OEEC 2024) is coming up this month. Work on the event is at full steam at Navingo (the company behind OEEC and Offshore-Energy.biz brands) with final tweaks and preparations underway. The exhibition floor has been almost completely booked and visitors ar

about 2 years ago

Business & Finance

Reprocessing project wraps up for ‘largest OBN survey on Norwegian Continental Shelf’

A tripartite partnership has completed the reprocessing project for what is said to be the largest ocean bottom node (OBN) survey conducted on the Norwegian Continental Shelf (NCS). Viridien, TGS and Aquila Holdings, under its subsidiary Axxis Multi-client, announced on November 4 the completion of

about 2 years ago