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Business & Finance

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Illustration: Source: Wood Mackenzie
Business & Finance

WoodMac’s gas and LNG trends to watch in 2024

Aside from European gas prices being down 45%, Wood Mackenzie’s forecast indicates that flat global demand is on the horizon this year.

about 2 years ago
Danish Shipping
Business & Finance

Industry titans Maersk and Hapag-Lloyd forge operational cooperation deal

Container shipping industry giants Hapag-Lloyd and Maersk have signed an agreement for a new long-term operational collaboration called ”Gemini Cooperation”, which will start in February 2025. “Teaming up with Maersk will help us to further boost the quality we deliver to our customers. Additionally

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about 2 years ago
One of Shell-managed LNG carriers; Source: Shell
Business & Finance

Shell joins BP and numerous shipping giants in putting all Red Sea shipments on ice as vessel attacks escalate

Shell is the latest firm in a long line of companies, which decided to steer clear of the Red Sea shipping route in response to rising Houthi vessel attacks.

about 2 years ago
U.S. Naval Forces Central Command/U.S. 5th Fleet
Business & Finance

Red Sea crisis escalation: US-UK airstrikes, Houthis’ vessel attacks, spike in oil prices, and tanker trade slowdown

Recent events in the Red Sea have added fuel to the growing fears about the possibility of a wider conflict breaking out across the Middle East, prompting further concerns over oil flows, supply chains, and energy prices in the region and beyond.

15 minutes read
Nakilat books LNG and LPG carriers at Hyundai Samho in fleet expansion move
Business & Finance

Nakilat books LNG and LPG carriers at Hyundai Samho in fleet expansion move

Qatari LNG shipping operator Nakilat has placed orders at South Korean Hyundai Samho Heavy Industries (HSHI) for the construction of six vessels – two LNG carriers and four very large LPG/ammonia carriers – as part of its strategic shipping expansion. The order was revealed on January 9, 2024. It in

about 2 years ago
Offshore wind: Both challenges and enormous opportunities lie ahead
Business & Finance

Offshore wind: Both challenges and enormous opportunities lie ahead

The offshore wind industry has faced significant headwinds in the past couple of years, with most of the negative effects tracing their origin back to the start of the COVID-19 pandemic and the geopolitical turmoil caused by Russia’s aggression against Ukraine. This has led to supply chain instabili

about 2 years ago
Deepsea Bollsta rig, formerly known as West Bollsta (for illustration purposes); Source: Odfjell Drilling
Business & Finance

December brings international offshore rig count activity to a standstill

Baker Hughes’ rig count report shows that no new rigs joined the working fleet in December 2023.

about 2 years ago
Illustration; Source: International Energy Agency (IEA)
Business & Finance

Oil & gas alongside green and low-carbon energy: Will such a compass lead the world astray or steer it in the right direction?

Should the world aim for a balancing act to satisfy both energy security and green future aspirations or pick just one?

about 2 years ago
Wave energy project now sending clean electricity to Israel's electrical grid
Business & Finance

Wave energy project now sending clean electricity to Israel’s electrical grid

Swedish-Israeli wave energy developer Eco Wave Power has commenced sending clean electricity from its EWP-EDF One project to the Israeli National Electrical grid. Eco Wave Power has recently finalized the construction of the EWP-EDF One project in the Port of Jaffa which has a 100 KW installed capac

about 2 years ago
USS Gravely (DDG 107); Source: U.S. Central Command
Business & Finance

With Red Sea quagmire running unabated, vessel attacks top 23 as oil prices drop down

Oil prices have now settled down, but is this just the calm before the storm or will prices remain stable without further spikes?

about 2 years ago
Dover is a planned subsea tie-back to Appomattox, a Shell-operated production hub in the U.S. Gulf of Mexico; Source: Shell
Business & Finance

Round up: Major multi-billion oil & gas projects greenlighted in 2023

While multiple new oil and gas projects were sanctioned throughout 2023, the top eight ones are listed in this article.

about 2 years ago
2023 in review: A transformative year for shipping and maritime
Business & Finance

2023 in review: A transformative year for shipping and maritime

In the maritime realm, 2023 has been a year marked by transformative projects and announcements, on both the regulatory side, ship designing, and shipbuilding front as well as demand signals for the production of alternative fuels. Amidst geopolitical turbulences in the Middle East, the ongoing conf

about 2 years ago
Illustration; Source: Westwood
Business & Finance

2024 offshore drilling outlook: Westwood’s top three predictions for rig market

Westwood Global Energy, an energy market research and consultancy firm, has outlined its top three predictions for 2024.

about 2 years ago
FPSO Prosperity working at ExxonMobil's third oil project on the Stabroek Block offshore Guyana; Source: ExxonMobil
Business & Finance

Mergers and acquisitions: Blockbuster oil & gas market consolidation moves in 2023

The oil and gas industry become a hotspot for multi-billion mergers and acquisitions in 2023 while hinting at further consolidation in the fossil fuel machinery.

about 2 years ago