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Business & Finance

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Map showing the planned location of MESH and the existing energy infrastructure and projects surrounding it; Source: EnergyPathways
Business & Finance

UK’s ‘largest’ gas and hydrogen energy storage project on track for FID in 2025

EnergyPathways has made progress in making its proposed large-scale energy storage project in the East Irish Sea ready for a final investment decision (FID) later this year by securing operatorship for a block encompassing the project and picking a compatriot contractor to handle engineering study f

about 1 year ago
UK's first HVDC cable factory gets €23.7M boost from Scottish bank
Business & Finance
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UK’s first HVDC cable factory gets €23.7M boost from Scottish state-owned bank

The state-owned Scottish National Investment Bank is investing £20 million (around €23.7 million) in subsea cable manufacturer XLCC which will support the development of the UK’s first HVDC cable factory, located in North Ayrshire, Scotland. The new manufacturing facility is located at the brownfiel

about 1 year ago
Illustration/Exowave power plant (Courtesy of Exowave)
Business & Finance

New partnership to drive wave power and desalination expansion in US

Exowave, a Danish wave energy technology company, has partnered with AquaX Energy Americas to establish a joint venture (JV), AquaX JV, to deploy wave energy solutions across North America, Central America, South America, and the Caribbean. According to Exowave, this partnership targets the implemen

about 1 year ago
AM Green partners with DP World to develop green fuels supply chain
Business & Finance

AM Green partners with DP World to develop green fuels supply chain

Indian green hydrogen and ammonia producer AM Green has joined forces with UAE-based logistics group DP World to develop a sustainable supply chain for green fuels and chemicals.

about 1 year ago
Jacket for Quiluma platform off the coast of Angola; Source: Saipem
Business & Finance

Saipem unveils platform construction milestone for Angola’s ‘pioneering’ gas project (Gallery)

Saipem has disclosed progress in bringing a jacket for an Angola-bound offshore platform to life. The platform, set to be used on a natural gas project in Africa, is perceived to be Angola’s first non-associated gas development.

about 1 year ago
A view of pipes on an offshore platform
Business & Finance

Canadian firm finalizes stake sale in South Africa’s Orange Basin block

Eco (Atlantic) Oil & Gas has completed the transaction with compatriot Africa Oil Corp. enabling the latter’s subsidiary to increase its stake in a block offshore South Africa.

about 1 year ago
Nel halts alkaline electrolyzer production in Norway
Business & Finance

Nel halts alkaline electrolyzer production in Norway

Norwegian company Nel has decided to temporarily halt production at the alkaline electrolyzer production facility in Herøya, Norway.

about 1 year ago
Valaris DS-12 drillship; Source: Valaris
Business & Finance

BP eyes first gas months earlier with subsea ops already underway, as Valaris rig moves to next well

UK-headquartered energy giant BP has wrapped up drilling activities at two wells, targeting to bring them on stream next month.

about 1 year ago
EPS adopts SulNOx tech to cut emissons and fuel use on minimum 30 vessels
Business & Finance

EPS adopts SulNOx tech to cut emissons and fuel use on minimum 30 vessels

Singapore-based ship management company Eastern Pacific Shipping (EPS) and UK tech provider SulNOx have signed an agreement encompassing investment and adoption of the latter’s products for reducing emissions and fuel consumption.

about 1 year ago
Weco secures grant for renewables-powered offshore charging hub
Business & Finance

Weco secures grant for renewables-powered offshore charging hub

The Hague-based Wave Energy Collective (Weco) has secured funding under the EKOO TSE Electricity 2024 program, backed by the Dutch Ministry of Climate and Green Growth’s Topsector Energiesubsidie initiative, to advance a renewables-driven offshore charging solution for autonomous vessels. According

about 1 year ago
FPSO Atlanta joined the Malaysian FPSO player's fleet as the third managed unit operating off the coast of Brazil; Source: Yinson Production
Business & Finance

$1 billion liquidity injection comes Yinson Production’s way to bankroll FPSO player’s growth aspirations

A new investment shot that will be poured into Yinson Production has been secured with a consortium of international investment firms to pave the way for the Malaysian giant’s growth journey, with a smaller slice of the $1 billion equity financing pie earmarked for the controlling shareholder.

about 1 year ago
Tyra II; Source: TotalEnergies
Business & Finance

TotalEnergies bumps plateau production at giant North Sea gas project to month-end

TotalEnergies has revised its plateau production timeline as ramp-up activities continue to ensure all fields will be up and running at full capacity at its natural gas redevelopment project in the Danish sector of the North Sea.

about 1 year ago
Illustration; Source: Proper Marine
Business & Finance

Norwegian player bolsters design and engineering across maritime & offshore energy arenas with Brazilian firm buy

ABL Group has enlarged its capabilities in the engineering and design segments of the maritime and offshore energy landscape by bringing Proper Marine, a Brazil-based naval architecture and engineering consultancy, into its fold, which enables the latter to merge with the Norwegian company’s design

about 1 year ago
Shell has hired SLB for multi-region deepwater work across several assets; Source: SLB
Business & Finance

Shell taps SLB for ‘major’ multi-region deepwater drilling gigs

SLB has landed a batch of new deals with Shell to handle drilling assignments, spanning several regions, including the UK sector of the North Sea, Trinidad and Tobago, and the Gulf of Mexico alongside others.

about 1 year ago