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Business & Finance

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Gearbulk
Business & Finance

MOL wraps up Gearbulk acquisition

Japanese shipping major Mitsui O.S.K. Lines has completed the acquisition of a majority stake in Swiss open-hatch vessel owner Gearbulk.

about 1 year ago
FPSO Dorado; Source: Santos
Business & Finance

Australian player takes a rain check on FID for giant oil project

Santos has put off a final investment decision (FID) for a huge oil development project in the Bedout Basin off the coast of Western Australia (WA).

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about 1 year ago
Edda Freya; Source: DeepOcean
Business & Finance

DeepOcean and Østensjø Rederi extend long-standing charters for three vessels

Norwegian ocean services provider DeepOcean has extended the charter agreements with Østensjø Rederi for three vessels, all under contract with DeepOcean since their delivery from shipyards. The companies have agreed to extend the existing contracts for Edda Freya and Edda Flora through 2026, and Ed

about 1 year ago
COSL Innovator rig; Source: COSL
Business & Finance

COSL rig spuds North Sea well as another awaits its turn in UK waters

Serica Energy has kicked off drilling operations at the next well in its multi-well drilling campaign and work-over program in the North Sea, with a rig from COSL Drilling Europe, which has one more well lined up with the British player on the UK Continental Shelf (UKCS).

about 1 year ago
Lee Robins, Business Unit Director for Instrumentation, Tracerco.
Business & Finance

UK firm secures its largest ever deal for Petrobras field

UK-based Tracerco has secured multi-million-pound worth of contracts in Brazil, including the largest project the company has ever undertaken. According to Tracerco, the deal, secured with TechnipFMC, involves delivering Tracerco Profiler measurement and control solutions for Petrobras’ Mero 3 High-

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

BP flips gas production switch back on at giant platform off Azerbaijan

BP has restarted production from a platform in the Caspian Sea at one of the world’s largest gas-condensate fields and the company’s largest gas discovery ever.

about 1 year ago
Kipper field is a conventional gas field located 45km off the coast of Victoria in the Gippsland Basin; Source: Mitsui E&P Australia
Business & Finance

Australian deal with ExxonMobil enlarges Wood’s headcount with 250 new jobs

Wood has secured a new assignment for onshore and offshore assets in the Gippsland Basin, Victoria, with Esso Australia, an Australian affiliate of ExxonMobil.

about 1 year ago
Valaris DS-9 drillship; Source: Valaris
Business & Finance

ExxonMobil’s drilling ops with Valaris drillship unleash more gas

ExxonMobil has made a new gas discovery in the western region of the Mediterranean Sea, off the coast of Egypt, with a drillship owned by Valaris, an offshore drilling contract.

about 1 year ago
€41M win for NextGeo on UK's subsea green electricity superhighways
Business & Finance

€41M win for NextGeo on UK’s subsea green electricity superhighways

Italian cabling giant Prysmian Group has awarded compatriot Next Geosolutions (NextGeo) with two contracts valued at approximately €41 million for work on the Eastern Green Links in the North Sea. The contracts have been awarded for detailed survey services set to provide critical data for the desig

about 1 year ago
Dongfang 29-1 gas field development project; Source: CNOOC
Business & Finance

China expands its gas resources as new project comes online

China National Offshore Oil Corporation (CNOOC) has brought online a new gas project in the Yinggehai Basin off the coast of China.

about 1 year ago
Hywind Tampen wind farm (on the horizon) powers the Gullfaks and Snorre fields; Credit: Ole Jørgen Bratland/Equinor
Business & Finance

Norwegian oil & gas electrification story takes another step forward with multimillion-dollar deal

Equinor has made a move to progress its offshore oil and gas electrification plans on the Norwegian Continental Shelf (NCS) by handing out a contract for early stage engineering services to Multiconsult Norge, in collaboration with subcontractors Aker Solutions and fully owned subsidiary LINK Arkite

about 1 year ago
Rendering of an LNG terminal
Business & Finance

With funds for Louisiana LNG terminal secured, Texas firm eyes FID in second half of 2025

Kimmeridge Texas Gas (KTG) has obtained funds for its proposed liquefied natural gas (LNG) terminal near Cameron, Louisiana.

about 1 year ago
US DOE backs Plug Power’s hydrogen buildout with $1.66 billion loan guarantee
Business & Finance

US DOE backs Plug Power’s hydrogen buildout with $1.66 billion loan guarantee

U.S. hydrogen solutions company Plug Power has closed a $1.66 billion loan guarantee from the U.S. Department of Energy’s (DOE) Loan Programs Office (LPO) to support its hydrogen buildout.

about 1 year ago
Netherlands zooms in on offshore hubs and interconnectors over energy islands
Business & Finance

Netherlands looking at offshore hubs and interconnectors, where does hydrogen stand?

Energy islands are no longer being considered in the Netherlands. Instead, the focus has been shifted to offshore energy hubs and interconnectors. With rising (cyber)security concerns as a result of a number of recent incidents in European waters, as well as the Russia-Ukraine war, diversification o

about 1 year ago