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Business & Finance

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Aerial image of LNG project in Puerto Rico; Source: FERC
Business & Finance

Mexican LNG cargo on the way to Puerto Rico as US player seeks to keep its import and regasification terminal open for business

New Fortress Energy (NFE) has wrapped up another liquefied natural gas (LNG) cargo loading at its floating LNG (FLNG) unit off the coast of Altamira, Mexico. This cargo is destined for the firm’s LNG import and regasification facility in Puerto Rico, which the U.S. firm is interested in continuing t

about 1 year ago
Illustration/Mocean Energy’s Blue X wave energy device offshore Orkney (Courtesy of Mocean Energy/Photo by Colin Keldie)
Business & Finance
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Mocean Energy starts crowdfunding to boost ocean energy technology

Scottish wave energy company Mocean Energy has kicked off a crowdfunding campaign to secure additional investment as it advances its ocean energy technology from the prototype stage toward technology commercialization and internationalization. The company’s technology integrates wave, solar, and bat

about 1 year ago
PONANT
Business & Finance

PONANT’s sailing zero-emission vessel concept wins EU grant

French cruise line operator PONANT has received support from the European Commission for its Swap2Zero project – the ‘first’ transoceanic vessel aiming for carbon neutrality.

about 1 year ago
FSRU Independence; Source: Höegh Evi, former Höegh LNG
Business & Finance

EU backs electrification of LNG terminal with €6 million

Lithuanian liquefied natural gas (LNG) terminal operator KN Energies (KN), former Klaipedos Nafta, has confirmed the decision made by the European Union (EU) to earmark funds for the electrification of its LNG terminal on Lithuania’s Kiaulės Nugara Island.

about 1 year ago
Multiple contract win in Brazil brings $53 million to Solstad
Business & Finance

Multiple contract win in Brazil brings $53 million to Solstad

Norwegian shipping company Solstad Offshore has secured multiple contracts together worth around $53 million for three of its vessels to perform work in Brazil. The 2005-built anchor handling tug supply (AHTS) vessel Normand Topazio has been awarded a one-year contract with commencement this month,

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

Petronas’ quest to fortify Malaysia’s oil & gas pinpoints 34 contractors for well engineering activities

Petronas has launched two initiatives through Malaysia Petroleum Management (MPM) to strengthen the country’s oil and gas sector and ensure an optimal and sustainable supply of oil and gas to boost energy security.

about 1 year ago
Canadian government invests $22 million in EverWind’s green fuels hub
Business & Finance

Canadian government invests $22 million in EverWind’s green fuels hub

North American developer of green hydrogen projects EverWind Fuels has secured $22.5 million in funding from the Canadian government to develop marine and shore-side infrastructure at its Point Tupper terminal in Nova Scotia as part of the green hydrogen and ammonia project. The funding was awarded

about 1 year ago
founder and CEO of WaveX, Simon Renwick
Business & Finance

Western Australia’s Innovation grant backs WaveX’s wave energy tech

WaveX, a renewable energy business, and Centre for Energy Research & Innovation (CERI) resident, has secured a Western Australia State Government Innovation Booster Grant (IBG) to accelerate the integration of advanced control systems into its D-Spar wave-powered generator. The competitive Innovati

about 1 year ago
UK firm plans autonomous submarine fleet, 50 units in the long term
Business & Finance

UK firm plans autonomous submarine fleet, 50 units in the long term

UK’s remote robotics company HonuWorx is planning to develop a fleet of autonomous submarines that will perform services across the oil & gas, offshore wind, and defense sectors, targeting 50 units in the long term. In what the company describes as an industry-first, HonuWorx deployed a remotely ope

about 1 year ago
Transocean Barents rig (for illustration purposes); Source: Equinor
Business & Finance

UK likely to unlock £10 billion worth of North Sea oil & gas with encouraging fiscal regime, WoodMac finds

Considering the rising focus on energy security, Wood Mackenzie has pointed out that Britain could get its hands on an additional £10 billion of North Sea oil and natural gas value from existing assets if it puts the right set of fiscal and regulatory policies in place.

about 2 years ago
FPSO Almirante Tamandaré; Source: SBM Offshore
Business & Finance

SBM Offshore’s behemoth FPSO steps into Brazil to work at Petrobras’ mega deepwater field

SBM Offshore is closing in on the first oil milestone from its new FPSO unit as the vessel has reached Brazilian waters and will be deployed at a huge field in the pre-salt Santos Basin off the coast of Brazil, where it will work for Petrobras.

about 2 years ago
Transocean Spitsbergen rig; Source: Transocean
Business & Finance

More rig market consolidation on the cards as Transocean and Seadrill ponder merger

A new merger may soon be visible on the rig market horizon, as the Switzerland-based offshore drilling contractor Transocean is now allegedly contemplating a business combination with its Bermuda-headquartered rival Seadrill.

about 2 years ago
Belgian company Bekaert will deliver mooring solution analysis on the world’s largest offshore floating solar plant project, Nautical SUNRISE.
Business & Finance

Grant awarded to advance floating solar research in offshore environments

Oriol Colomés Gené, Assistant Professor at Technische Universiteit Delft in Offshore Engineering, has received the NWO Vidi grant for the DigiOcean4Solar project to develop a first-of-its-kind digital ocean model designed to assess floating solar farms. DigiOcean4Solar, short for a Digital Ocean en

about 2 years ago
Santorini drillship; Source: Saipem
Business & Finance

Saipem rig kicks off second drilling campaign off Namibia after first one yielded oil discoveries

Galp has embarked on its second exploration and appraisal program in the Orange Basin where oil discoveries were made during the first campaign within license PEL 83 off the coast of Namibia, which is situated close to recent discoveries made by Shell and TotalEnergies.

about 2 years ago