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Business & Finance

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Illustration; Source: Wood Mackenzie
Business & Finance

Middle East conflict: Energy security risks and price shocks as market volatility hits supply chains

Since the ignition of the conflict between the U.S. and Israel on one side and Iran on the other, the global markets have been on tenterhooks, as fears continue to grow over the impact the hostilities will have not just on the Middle East region but also the world at large, especially in terms of ec

about 7 months ago
€693 million financing to support UK’s subsea electricity superhighway
Business & Finance
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€693 million financing to support UK’s subsea electricity superhighway

ScottishPower, through its parent company Iberdrola, has secured £600 million (around €693 million) in financing from the National Wealth Fund to support the development of the fourth out of five subsea electricity superhighways between Scotland and England. The 2 GW Eastern Green Link 4 (EGL4) high

about 7 months ago
German TSO makes order for four cable storage carousels
Business & Finance

German TSO makes order for four cable storage carousels

German transmission system operator (TSO) 50Hertz has awarded the Netherlands-headquartered Subsea Cable Assets (SCA) with a framework contract for the delivery of four cable storage carousels. SCA’s scope includes the engineering, manufacturing, delivery, installation and commissioning of four caro

about 7 months ago
European shipowner takes Red Rock to subsea crane market
Business & Finance

European shipowner takes Red Rock to subsea crane market

Norway-headquartered advanced lifting and handling solutions provider Red Rock has entered the subsea crane market thanks to a contract with an undisclosed client. Red Rock reported today, March 24, that it had secured a contract for the delivery of an offshore subsea crane, marking the company’s en

about 7 months ago
FPSO Kraken; Source: EnerMech
Business & Finance

New North Sea FPSO job in EnerMech’s hands

Aberdeen-headquartered integrated solutions specialist EnerMech has won a new multi-year deal with Malaysia’s Bumi Armada for a floating production, storage, and offloading (FPSO) vessel deployed in the UK sector of the North Sea.

about 7 months ago
Deutsche Ostsee; Source: Deutsche Regas
Business & Finance

German player picks up permanent permit for LNG terminal with FSRU duo

Germany’s private operator of liquefied natural gas (LNG) terminals, Deutsche ReGas, has secured the go-ahead for the permanent operation of an energy terminal in Mukran with two floating storage and regasification units (FSRUs) using onboard gas generators.

about 7 months ago
Norway: Northern Lights starts injecting first CO2 from wastewater
Business & Finance

Norway: Northern Lights starts injecting first CO2 from wastewater

The Northern Lights CO2 project in the Norwegian North Sea has started injecting the first biogenic CO2 from wastewater treatment delivered to the receiving terminal in Øygarden. Carbon removal company Inherit has delivered CO2 cargos to Northern Lights from Veas, Norway’s largest wastewater treatme

about 7 months ago
Illustration; Source: Adura via LinkedIn
Business & Finance

$3 billion loan in the bag, as Shell and Equinor’s UK JV ups financial ante

Adura, an incorporated joint venture (IJV) between the UK’s Shell and Norway’s Equinor, has secured a multibillion-dollar reserve based lending (RBL) facility to support its growth aspirations.

about 7 months ago
TotalEnergies and partner inaugurate 31 MW floating solar power plant in Belgium
Business & Finance

TotalEnergies and partner inaugurate 31 MW floating solar power plant in Belgium

French energy giant TotalEnergies and Switzerland-headquartered sustainable construction player Holcim have inaugurated a floating solar power plant with a 31 MW capacity, located in Belgium. The plant, inaugurated on March 20, is located in Obourg on a former chalk quarry site that has been rehabil

about 7 months ago
Fast4Ward FPSO design; Source: SBM Offshore
Business & Finance

SBM Offshore interview: Advancing future-ready FPSOs through standardization, robotics, AI and lower‑carbon solutions

While diving into the evolution journey of its offshore operations model and the implementation of its Fast4ward program, the Netherlands-based SBM Offshore, a provider of the design, construction, installation, and operation of offshore floating facilities, has shed light on the key growth drivers

about 7 months ago
Wales introduces new deal to drive its renewable energy potential
Business & Finance

Wales introduces new deal to drive its renewable energy potential

The Welsh government has launched the Renewable Energy Sector Deal, a strategic partnership between the government and industry, focused on ensuring that Wales meets its renewable energy targets and unlocking the full economic potential of its renewable energy future. Central to the Renewable Energy

about 7 months ago
Stillstrom offshore vessel charging
Business & Finance

Offshore vessel charging tech developer plans commercial rollout in UK

Stillstrom, part of A.P. Moller – Maersk and based in Denmark, has established a dedicated entity in Aberdeen, Scotland, with plans to roll out its offshore vessel charging solution commercially in the UK. The solution is transitioning from development to commercial deployment, and, according to a p

about 7 months ago
Illustration; Courtesy of MidOcean Energy
Business & Finance

Japanese player to pour $500 million into EIG’s LNG business

Tokyo-based Idemitsu Kosan is setting the stage for full-scale entry into the liquefied natural gas (LNG) business with its multimillion-dollar investment in MidOcean Energy, an LNG player formed and managed by the U.S.-headquartered investment company EIG Global Energy Partners (EIG).

about 7 months ago
Illustration; Source: Westwood
Business & Finance

Transocean, Noble, COSL, Seadrill, and Valaris pinpointed as rig backlog powerhouses

While taking a deep dive into the floater rig market and top floating rig managers based on the current total backlog for 2026, Westwood Global Energy, an energy market research and consultancy firm, has spotlighted five offshore drilling players – Transocean, Noble, COSL, Seadrill, and Valaris – as

about 7 months ago