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Business & Finance

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Enova backs Norwegian shipping with investment in hydrogen production projects
Business & Finance

Enova backs Norwegian shipping with investment in hydrogen production projects

To springboard the use of hydrogen in the Norwegian maritime industry, Enova has awarded over NOK 777 million ($70.92 million) to five hydrogen production projects.

about 2 years ago
Sea1 orders two methanol-ready offshore energy support vessels from China
Business & Finance

Sea1 orders two methanol-ready offshore energy support vessels from China

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Norwegian vessel operator Sea1 Offshore, formerly known as Siem Offshore, has placed an order with Chinese shipyard Cosco Shipping for two next-generation offshore energy support vessels (OESVs) that will be methanol-ready. Bernt Omdal, CEO of Sea1, said that the investment is part of the company’s

about 2 years ago
NKT's new cable extrusion tower reaches full height, becoming second tallest in the Nordics
Business & Finance

NKT’s new cable extrusion tower reaches full height, becoming 57th tallest European structure

The new cable extrusion tower that Denmark’s power cable manufacturer and installation company NKT is building at its power cable factory in Karlskrona, Sweden, has reached its full height of 200 meters, becoming the second tallest tower in the Nordics. This third extrusion tower at the Karlskrona f

about 2 years ago
Shell pauses Gulf of Mexico drilling, transfers personnel to shore due to hurricane forecast
Business & Finance

Shell pauses Gulf of Mexico drilling, transfers personnel to shore due to hurricane forecast

UK-headquartered energy giant Shell has paused certain drilling operations and began transferring non-essential personnel to shore from its Gulf of Mexico assets amid disturbance likely to become a hurricane. Shell reported on Monday, November 4, that it had started transferring non-essential person

about 2 years ago
Saab UK's Seaeye SR20 eWROV water trials. Source: Saab
Business & Finance

Saab’s remotely operated vehicle finishes water trials, moving toward sea tests

Saab UK has completed inshore water testing for its Seaeye SR20 eWROV, marking what it says is a significant milestone in the development of the fully electric, work-class remotely operated vehicle (ROV). Last month, the SR20 underwent rigorous trials aimed at validating its specifications and perfo

about 2 years ago
North Sea; Source: OEUK
Business & Finance

Wheels up to change rules of oil & gas game in UK waters while windfall tax hike gets green light

The United Kingdom (UK) plans to embark on consultations to come up with new environmental guidance for offshore oil and gas projects in the aftermath of the recent Supreme Court ruling.

13 minutes read
Two men sitting at a desk with two women standing behind them
Business & Finance

TotalEnergies supplying Sinopec with LNG well into 2040s

France’s energy giant TotalEnergies has inked a heads of agreement (HoA) with China Petrochemical Corporation (Sinopec) for a multi-year sale of liquefied natural gas (LNG).

about 2 years ago
Argeo signs eight-year data agreement with Suriname’s oil & gas regulator
Business & Finance

Argeo signs eight-year data agreement with Suriname’s oil & gas regulator

Norway’s subsea services provider Argeo has entered into an eight-year agreement with Staatsolie, Suriname’s oil and gas regulator and state oil company, for the acquisition, processing and sales of multi-client data in Suriname. The execution of the agreement will be performed in several phases ove

about 2 years ago
Chevron's Anchor deepwater project in Gulf of Mexico; Source: Chevron
Business & Finance

Shell, BP, TotalEnergies, Eni, Equinor, ExxonMobil, Chevron, and ConocoPhillips get their hands on total profits of more than $29 billion

European and U.S. oil majors – the UK’s duo Shell and BP, France’s TotalEnergies, Norway’s Equinor, and Italy’s Eni alongside U.S.-based trio: ExxonMobil, Chevron, and ConocoPhillips – have posted strong sets of results even though they collected around $4.7 billion less in combined profit during th

14 minutes read
Rendering of gravity-based structure (GBS) design (for illustration); Source: Aker Solutions
Business & Finance

Crown taking charge of LNG import terminals in UK and India

Crown LNG has concluded acquisition agreements related to two liquefied natural gas (LNG) import terminal projects, one in India and the other one in Scotland’s Firth of Forth.

about 2 years ago
A visualization of the now-operational Hywind Sctoland floating wind farm with mooring and cables shown
Business & Finance

TechnipFMC, Prysmian join forces on ‘complete water column solution’ for floating wind

TechnipFMC and Prysmian have signed a collaboration agreement to combine their technologies and expertise and deliver what the two companies say is a complete water column solution for floating wind projects. The solution encompasses mooring and anchoring and both dynamic inter-array and export cabl

about 2 years ago
N-Sea's fleet to expand with newbuild hybrid vessel in 2026
Business & Finance

N-Sea’s fleet to expand with newbuild hybrid vessel in 2026

The Netherlands-headquartered N-Sea is set to expand its fleet with a newbuild hybrid survey and remotely operated vehicle (ROV) support vessel scheduled for delivery in 2026. N-Sea has signed a long-term charter agreement with Mainport Shipping for the delivery of the vessel named Geo Master, which

about 2 years ago
InfinityWEC wave energy farm (Courtesy of Ocean Harvesting Technologies)
Business & Finance

Sweden’s project gets €1.7M boost for wave energy converter technology

The INFINITY Project, coordinated by Sweden’s RISE Research Institute, has received €1.7 million in funding from the Clean Energy Transition Partnership (CETP) to advance lifetime-aware model predictive control (MPC) technology for wave energy converters (WEC). The three-year project, starting in De

about 2 years ago
Tyra II; Source: TotalEnergies
Business & Finance

TotalEnergies’ massive North Sea project days away from gas production capacity at full throttle

TotalEnergies is drawing closer to its goal of increasing output at its natural gas redevelopment project in the Danish sector of the North Sea to its full technical capacity.

about 2 years ago