Business & Finance
Industry unites to praise ‘fantastic day’ for UK tidal energy sector
Industry associations, research centers and supported developers have all unanimously welcomed the results of the latest renewables auction in the UK – where 53MW of tidal stream projects won contracts – deeming the outcome a ‘resounding vote of confidence’ in the increasingly mature tidal energy se
UK’s oil & gas, offshore wind, CCS, and hydrogen investments to hit whopping £200 billion by 2030
The UK’s total offshore energy investment in oil, gas, renewables and low-carbon energies could reach £200 billion this decade.
The tide turns for marine energy projects in Wales
Marine Energy Wales has welcomed the announcement that four tidal stream projects, based in Welsh waters, have been given the green light to provide electricity to the National Grid, as part of the latest allocation round of the UK government’s renewable auction.
Post-installation survey next on the list for Viking Link
A post-installation survey is set to soon commence at the Viking Link project in the North Sea after Prysmian completed the last section of the submarine cable for the UK-Denmark interconnector. The last section was laid and assembled 172 kilometers off the Danish coast in German and Dutch waters on
UK supports 11 tidal energy projects with record capacity of over 50MW in latest CfD auction round
In its fifth round of the Contracts for Difference (CfD) scheme, the UK has supported 11 tidal energy projects with a record capacity of over 50MW and €11.6 million total ringfenced budget.
Two firms embark on merger quest to create ‘formidable force’ in offshore energy market intelligence
Aberdeen-based Archer Knight (Holdings) Limited has revealed a merger deal to acquire Singapore’s Energy Maritime Associates (EMA).
Offshore wind developers take a pass on UK’s fifth CfD round as maximum bid price was too low
The UK government has awarded 3.7 GW of renewable energy projects with Contracts for Difference (CfDs) in its fifth allocation round. Among the 95 new projects that secured CfDs are onshore wind, solar and tidal energy developments – and not a single megawatt of offshore wind. According to the gover
Uni-Tankers in major fleet expansion swoop
In a strategic move set to bolster its maritime capabilities, Danish ship owner and operator, Uni-Tankers, has unveiled that it has added five new vessels to its fleet. The fleet expansion includes long-term deals for four newbuilding vessels and one ECO small clean chemical/product tanker built in
Two new contracts bring €850 million to Saipem
Italian oilfield services provider Saipem has secured two new contracts for offshore activities in Côte d’Ivoire and Italy for an overall amount of €850 million. Saipem won a contract with Eni Côte d’Ivoire and its partner Petroci to deliver subsea umbilicals, risers, and flowlines (SURF) for the de
Maersk secures green methanol supply from Equinor
Container shipping heavyweight A.P. Moller-Maersk (Maersk) has signed an agreement with energy major Equinor thus securing the supply of green methanol for its landmark, methanol-enabled feeder vessel during its initial months of operation from September 2023 and into the first half of 2024. The agr
‘Demonisation’ of oil & gas seen as misleading: Is CO2 the main culprit responsible for climate change or the sun?
Three new research papers point a potential finger at the changes in solar activity as the primary cause of climate change.
Gears in motion for Aker BP to spud North Sea prospects with Odfjell rig
Aker BP has received consent from Norway’s offshore safety regulator for exploration drilling in the North Sea, using Odfjell Drilling’s rig.
bound4blue’s wind-assisted propulsion systems get financial boost
Agricultural company Louis Dreyfus Company, French containment specialist GTT and the European Commission have invested in bound4blue’s Series A funding round, becoming shareholders of the company.
Italian cabling giant scoops €630 million contract for Adriatic Sea link
Italian cabling giant Prysmian Group has won another contract to deliver a submarine cable project in its homeland, worth around €630 million. With this, the company’s Projects Business Unit order intake exceeds €10 billion year to date, including preferred bidder agreements. Prysmian has secured th