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Business & Finance

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Illustration: Source: Wood Mackenzie
Business & Finance

Trump’s ‘economic revolution’ leaves US energy industry at tariff wars’ mercy

Wood Mackenzie has underlined that the U.S. power industry is among the most exposed areas to the shockwaves of U.S. President Donald Trump’s tariff hikes, which are forecast to result in a slower global growth and weaker demand for many commodities, including oil.

about 1 year ago
'Offshore industry's first’ vessel geometry assurance software comes to market
Business & Finance

‘Offshore industry’s first’ vessel geometry assurance software comes to market

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UK energy solutions provider OEG Energy Group has unveiled what it says is the offshore industry’s first dedicated vessel dimensional control assurance solution for survey and positioning systems onboard vessels and subsea vehicles to feature calibration software. GEOBASE provides an independent res

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

Ten-year renewal for ADES rig marks jack-up’s return to drilling work with Aramco

ADES has tucked a multi-year contract renewal in the Kingdom of Saudi Arabia (KSA) under its belt, which enables one of its previously suspended jack-ups to work for Aramco once again.

about 1 year ago
XFuel
Business & Finance

XFuel gets EU funding to scale up its fuel-from-waste tech

XFuel has secured €7.7 million in blended finance from the European Innovation Council (EIC), helping it bring its fuel-from-waste technology to transport markets.

about 1 year ago
NKT's power cable factory expansion named EU's first net-zero strategic project
Business & Finance

NKT’s power cable factory expansion named EU’s first net-zero strategic project

NKT’s expansion of its high-voltage submarine power cable factory in Karlskrona, Sweden, has been recognized as the first European net-zero strategic project under the EU Net-Zero Industry Act, providing it with a national priority status for accelerated administrative treatment and faster permittin

about 1 year ago
Prototype of Seaturns at Sainte Anne Portzic
Business & Finance

Seaturns opens fundraising round to scale wave energy technology

French wave energy developer Seaturns has launched a fundraising campaign to support the scale-up of its wave power generation technology, following several years of research, development, and testing. According to Seaturns, the fundraising will first open on April 22 with 24-hour priority access fo

about 1 year ago
Wärtsilä’s €50M R&D investment to support development of future fuel-ready engines
Business & Finance

Wärtsilä’s €50M R&D investment to support development of future fuel-ready engines

Wärtsilä will invest €50 million in expanding its R&D center in Vaasa, aiming to meet the growing demand for sustainable technologies and alternative fuels in maritime and energy sectors.

about 1 year ago
Vali jack-up rig; Source: Crystal Offshore
Business & Finance

Rig trio finds new jobs: Busy times ahead for jack-ups in Borr Drilling’s fleet

Borr Drilling has secured a batch of assignments for three jack-up rigs and shed more light on the contracting developments and movements across the rest of its jack-up fleet.

about 1 year ago
Scana firm's 'sizeable' contract takes it to US Gulf Coast
Business & Finance

Scana firm gets to business in US Gulf Coast

Scana-owned PSW Power & Automation has secured a contract to supply an E-House module that will serve as an offshore power distribution for a subsea installation at a project in the Gulf of Mexico/America. As part of the contract described as sizeable, PSW Power & Automation will design, manufacture

about 1 year ago
TGS nets shallow-water survey contract off Trinidad, wraps up Gulf Coast CO2 storage assessments
Business & Finance

TGS nets shallow-water survey contract off Trinidad, wraps up Gulf Coast CO2 storage assessments

Norway-based energy data and intelligence company TGS has secured a contract to deliver a shallow-water ocean bottom node (OBN) project offshore Trinidad. The 3D baseline contract is scheduled to commence early in the third quarter of 2025, with the total duration of the survey expected to be approx

about 1 year ago
French engineering group Setec has acquired a majority stake in UK-based Sealand Projects, strengthening its marine engineering and offshore wind capabilities.
Business & Finance

Setec expands marine engineering reach with Sealand Projects acquisition

French engineering group Setec has acquired a majority stake in UK-based Sealand Projects, strengthening its marine engineering and offshore wind capabilities. According to Setec, the acquisition expands the company’s service offering in the marine renewables sector and enhances its presence in the

about 1 year ago
Clean Industrial Deal
Business & Finance

EU, EIB and KfW to back renewable hydrogen projects in Chile with up to €216.5M

The European Commission, the European Investment Bank (EIB), KfW Development Bank (KfW), Corporación de Fomento de la Producción (CORFO) and the Chilean Ministry of Energy have signed agreements to support Chile’s renewable hydrogen industry via the Team Europe Renewable Hydrogen Funding Platform fo

about 1 year ago
An LNG terminal under construction
Business & Finance

$5.7B investment to fast-track Woodside’s US LNG development

Australia’s energy giant Woodside has entered into a binding agreement with Stonepeak, a New York-based investment firm specializing in infrastructure and real assets, for the sale of an interest in its liquefied natural gas (LNG) development on the United States’ Gulf Coast.

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

Reversal of EU’s energy playbook on Russian oil barrels cannot be ruled out, MSI warns

MSI has contemplated the possibility of a shift in energy policy within the European Union (EU), where the EU changes its mind about the ban on Russian fossil fuels and decides to take a page out of U.S. President Donald Trump’s book by reviving its energy ties with Russia against the backdrop of tr

about 1 year ago