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Business & Finance

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Call issued for renewables investments in Africa
Business & Finance

Call issued for renewables investments in Africa

European Commission President Ursula von der Leyen and South African President Cyril Ramaphosa have launched the global campaign ‘Scaling up Renewables in Africa’ during the Global Citizen NOW event in Rio de Janeiro, Brazil.

about 1 year ago
Large-scale LNG plant within Sakhalin II project; Source: Gazprom
Business & Finance

Russian gas and LNG play ‘major’ part in global energy security, Gazprom says

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Russia’s giant Gazprom has highlighted the contributions its gas is making to oil the wheels of global energy security while discussing the size of the hand its gas and liquefied natural gas (LNG) supplies have in the worldwide energy mix.

about 1 year ago
MSC
Business & Finance

MSC gets all regulatory green lights for HHLA acquisition

Swiss MSC Mediterranean Shipping Company, the world’s largest container shipping company, has received all regulatory approvals to participate in the ownership structure of Germany’s logistics provider Hamburger Hafen und Logistik Aktiengesellschaft (HHLA).

about 1 year ago
Var jack-up rig; Source: Seatrium
Business & Finance

Borr Drilling takes delivery of newbuild rig from Seatrium ahead of schedule

Seatrium has delivered another newbuild jack-up rig earlier than expected to Borr Drilling. This handover of the final unit in a multi-rig series is said to have been completed almost a year before it was due.

about 1 year ago
Green light from Ofgem for 2 GW subsea electricity superhighway
Business & Finance

Green light from Ofgem for 2 GW subsea electricity superhighway

UK energy market regulator Ofgem has greenlit the Eastern Green Link 1 (EGL1) electricity superhighway by awarding a £2 billion funding package for the construction of the project. The 2 GW EGL1 HVDC multi-directional cable is being developed by National Grid Electricity Transmission (NGET) and SP T

about 1 year ago
FPSO BW Opal; Source: BW Offshore
Business & Finance

Australia-bound FPSO on track for first gas in 2025 but BW Offshore facing cost overruns (Gallery)

BW Offshore is anticipating additional costs of up to $150 million for the completion of the remaining work related to its newbuild floating production storage and offloading (FPSO) vessel, which is anticipated to start work at a Santos-operated giant gas project off the coast of Australia in the se

about 1 year ago
MMEGA FPSO design; Source: MISC
Business & Finance

Bumi Armada and MISC mulling over potential merger to consolidate floating production businesses

Malaysia’s Bumi Armada is pondering a business combination with the offshore segment of MISC Berhad (MISC), an owner and operator of offshore floating and energy-related maritime solutions and services.

about 1 year ago
An offshore platform
Business & Finance

Norwegian State bringing into its fold world’s ‘most extensive’ gas network for $1.6 billion

Norway’s Ministry of Energy has signed purchase agreements with seven companies forming part of three joint ventures (JV) that own “key” parts of the country’s gas transportation system. Agreements have been concluded with A/S Norske Shell, CapeOmega, ConocoPhillips Skandinavia, Equinor Energy, Hav

about 1 year ago
Joe Biden; Source: The White House
Business & Finance

US backs PRPA’s clean energy upgrades and emissions reduction projects with fresh funding

The U.S. Environmental Protection Agency (EPA) has awarded a $1.8 million grant to the Puerto Rico Ports Authority (PRPA) to drive climate resilience and air quality improvements across the port operations.

about 1 year ago
In midst of expansion initiatives, N-Sea to develop new-built operations support base
Business & Finance

In midst of expansion initiatives, N-Sea to develop new-built operations support base

Netherlands-headquartered subsea solutions provider N-Sea Group is planning to develop a new-built operations support base in IJmuiden in 2025, said to enable it to support all offshore activities in the Europe region from one location. N-Sea Group has signed a contract to build a new operations sup

about 1 year ago
ERMA FIRST
Business & Finance

ERMA FIRST acquires Ecochlor to expand global BWTS footprint

Greek ballast water treatment specialist ERMA FIRST has completed the acquisition of its US-based counterpart, Ecochlor, as part of its growth strategy to increase market share.

about 1 year ago
One Italian approval to go for second interconnector to Malta
Business & Finance

One Italian approval to go for second interconnector to Malta

Sicily has given its approval for the second interconnector between Malta and Italy, some eleven months after the project had been granted the development permit from the Maltese side. The IC2 interconnector will consist of a 122-kilometer high-voltage alternating current (HVAC) electrical cable int

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

TotalEnergies, Shell, BP, and Equinor to assist in tackling energy access woes with $500M pledge

Four energy giants – France’s TotalEnergies, Norway’s Equinor, and the UK-headquartered Shell and BP – have confirmed their plans to pool resources to help support access to energy with a $500 million joint investment commitment.

about 1 year ago
FPSO One Guyana; Source: SBM Offshore
Business & Finance

SBM Offshore’s FPSO trio nearing finish line for first oil next year as ExxonMobil sets its cap on buying another Guyanese unit

SBM Offshore is putting the finishing touches in place to make three of its floating production, storage, and offloading (FPSO) vessels ready to start their assignments next year. Two of these will be deployed at oil fields offshore Brazil while one is destined for ExxonMobil’s project off the coast

about 1 year ago