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Business & Finance

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Arkticheskaya jack-up floating drilling rig; Source: Gazprom
Business & Finance

Gazprom’s gas reserves trump production rates with lion’s share in Arctic and Yamal Peninsula

Russia’s energy giant Gazprom has expanded its natural gas resource base by performing geological exploration in 2024 to fortify the Russian Federation’s energy security. This enabled the company to augment its gas reserves so that they once again eclipse its production rates, with the biggest chunk

about 1 year ago
PEL 94 offshore Namibia; Source: Global Petroleum
Business & Finance

Namibian oil prospect gets ‘well-known’ players’ attention, extending farm-out timeline

Global Petroleum, an AIM-listed oil and gas upstream exploration company presently focused on Africa and the Mediterranean, has decided to prolong its previous timeline to secure a farm-in agreement with a potential operating partner for its petroleum exploration license (PEL) 94 in Block 2011A in t

about 1 year ago
After maiden job in the Netherlands, China’s first subsea cable shuttle barge going to UK
Business & Finance

After maiden job in the Netherlands, China’s first subsea cable shuttle barge going to UK

China’s first dedicated long-range heavy subsea cable transport barge has completed its inaugural mission at an offshore wind project and will undergo maintenance before embarking on a new mission. Chinese power cable specialist Orient Cable launched the barge named Dongfang Haigong 07 (DFHG 07) in

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

Rig’s 365-day Nigerian offshore drilling gig enables ADES’ first foray into West Africa

ADES has expanded its global presence by spreading its wings to the eleventh country, thanks to an offshore drilling assignment one of its jack-up rigs will undertake off the coast of Nigeria.

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

Nearly $9 billion win for ConocoPhillips as Venezuela loses arbitration case over three oil projects

As the World Bank’s International Centre for the Settlement of Investment Disputes (ICSID) has upheld the previous decision, rejecting Venezuela’s appeal, the country is required to dish out $8.7 billion to ConocoPhillips.

about 1 year ago
Illustration of FPSO for Bay du Nord oil project; Source: Equinor
Business & Finance

Canada’s stalled $12-billion oil project takes step forward with new FPSO awards

Equinor has started the ball rolling to develop its controversial Bay du Nord oil project off the coast of Newfoundland and Labrador by awarding preliminary front-end engineering design (pre-FEED) work to BW Offshore and Altera Infrastructure.

about 1 year ago
NFE's LNG terminal in Puerto Rico is adjacent to the power plant, which will initially operate on LNG but have the capacity to operate on hydrogen in the future; Source: New Fortress Energy
Business & Finance

US firm scores 20-year gas supply gig in Puerto Rico

U.S. energy infrastructure player New Fortress Energy (NFE) has secured a multi-year natural gas supply deal for a 478 MW combined-cycle power plant, which is currently under development in San Juan, Puerto Rico.

about 1 year ago
Darwin LNG; Source: Santos
Business & Finance

Duo exploring avenues for Australian LNG project’s expansion to enrich gas market

Santos has joined forces with Tamboran Resources Corporation to look into a potential enlargement of a liquefied natural gas (LNG) project in Darwin, with the idea of supplying more gas to the country’s domestic market and international LNG scene.

about 1 year ago
Belfast Harbour to invest around $387 million in port projects over next five years
Business & Finance

Belfast Harbour to invest around $387 million in port projects over next five years

Belfast Harbour, Northern Ireland’s principal maritime gateway and logistics hub, has unveiled a new strategy setting out a program to invest £313 million (approximately $387 million) in capital projects across the port and Harbour Estate over the next five years.

about 1 year ago
President Lech Kaczyński LNG Terminal in Świnoujście has been in operation since 2016; Source: Gaz-System
Business & Finance

LNG terminal spreads its wings to level up Poland’s gas diversification and energy security

Gaz-System has expanded the regasification capacity at a liquefied natural gas (LNG) terminal in Świnoujście.

about 1 year ago
Transocean Norge; Source: Transocean
Business & Finance

All-systems-go for Transocean rig to spin the drill bit in North Sea

OMV has received a drilling permit from the country’s authorities for a wildcat well in the North Sea off the coast of Norway, enabling it to undertake drilling activities next month with a semi-submersible rig owned by Transocean, an offshore drilling contractor.

about 1 year ago
Kuwait Petroleum Company
Business & Finance

Another oil & gas discovery of ‘great importance’ springs up offshore Kuwait

Kuwait Petroleum Corporation (KPC) has confirmed a large hydrocarbon discovery at an offshore field in the country’s territorial waters, bolstering its expectations of discovering more offshore oil and gas to boost the country’s energy arsenal.

about 1 year ago
Greece's €1B interconnection passes muster for full electrification
Business & Finance

Greece’s €1B interconnection passes muster for full electrification

Ariadne Interconnection, a subsidiary of Greek transmission system operator (TSO) Independent Power Transmission Operator (IPTO or ADMIE), has completed the site acceptance test (SAT) for the cable system for what it says is the largest electricity transmission project in Greece. IPTO reported today

about 1 year ago
CNOOC
Business & Finance

CNOOC earmarks up to $19 billion for oil & gas, offshore wind, solar, and AI-integrated plays

China’s CNOOC has set out its multibillion-dollar business strategy and development plan for 2025.

about 1 year ago
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