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Business & Finance

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Fossil EnergyLiquefied Natural GasLow-Carbon TransitionOil & GasAutomationBusiness Developments & ProjectsExploration & ProductionIT & SoftwareTechnologyClean FuelOther FuelsMarket OutlooksOutlook & StrategyRigsProject & TendersPipesProduction & ProcessingSubseaInfrastructureAlternative FuelsLNGCollaborationTransitionEnergy Efficiency & InnovationFPSO & VesselsGreen MarineShipbuildingRegulation & PolicyVessels
Illustration; Source: Rystad Energy
Business & Finance

Oil & gas players unlocking $500 billion opportunity with AI and digitalization

By employing digitalization and artificial intelligence (AI), Rystad Energy, an energy market intelligence group, has highlighted that exploration and production (E&P) companies could reap close to $500 billion in cumulative value between 2026 and 2030.

about 4 months ago
Illustration: Source: Wood Mackenzie
Business & Finance

Strait of Hormuz closure: Tight LNG markets, oil prices could soar to $200

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With more than 80 million tonnes per annum (mtpa) of liquefied natural gas (LNG) supply, representing around 20% of global supply, being inaccessible to global markets, the Strait of Hormuz closure has the potential to spark the biggest energy supply shock in decades, according to Wood Mackenzie, an

about 4 months ago
Illustration; Courtesy of MidOcean Energy
Business & Finance

New investor dishes millions to join EIG’s LNG arm

The Arab Energy Fund (TAEF), a multilateral impact financial institution, has decided to expand its energy portfolio by investing in MidOcean Energy, a liquefied natural gas (LNG) player formed and managed by the U.S.-headquartered investment company EIG Global Energy Partners (EIG).

about 4 months ago
Ran jack-up rig; Source: FOSS & ESG; Credit: Borr Drilling
Business & Finance

Borr Drilling’s CEO: Middle East conflict brings uncertainty but empowers long-term rig outlook

Borr Drilling, an offshore drilling player with its corporate base in Bermuda, has secured 13 contracts year-to-date, enhancing its backlog by adding 2,250 days and $274 million in jack-up rig deals.

about 4 months ago
Illustration; Source: QatarEnergy
Business & Finance

Wood to deliver pipeline design and more for Qatar’s redevelopment project

China’s Offshore Oil Engineering Company (COOEC) has awarded Wood with a contract for the design of an optimized solution for a pipeline network at QatarEnergy’s hydrocarbon redevelopment project. Wood has been put in charge of the design of 25 pipelines, including ensuring safe interaction where pi

about 4 months ago
A large vessel at sea
Business & Finance

UAE and India deepen energy ties with oil, LNG, LPG and storage deals

United Arab Emirates-headquartered energy heavyweight Abu Dhabi National Oil Company (ADNOC) has struck new strategic alliances with India-based energy partners, fortifying bonds between the UAE and India through agreements across crude oil, liquefied natural gas (LNG), and liquefied petroleum gas (

about 4 months ago
Industry players unite to form UAE’s first shipbuilding consortium
Business & Finance

Industry players unite to form UAE’s first shipbuilding consortium

A group of national industry players has come together to form the first shipbuilders consortium in the United Arab Emirates (UAE), which will work toward aligning national shipbuilding capabilities to drive maritime innovation and growth. According to AD Ports, the initiative is designed to strengt

about 4 months ago
Block 3 offshore Syria; Source: QatarEnergy
Business & Finance

TotalEnergies, QatarEnergy, ConocoPhillips, and SPC pool resources for Mediterranean oil & gas search

Three international oil and gas players, France’s TotalEnergies, Qatar’s QatarEnergy, and U.S.-headquartered ConocoPhillips, have joined forces with the Syrian Petroleum Company (SPC), Syria’s state-owned oil exploration and production company, to embark on a hydrocarbon quest in the Mediterranean S

about 4 months ago
FSRU Excelerate Acadia; Source: Excelerate Energy
Business & Finance

Excelerate Energy’s FSRU finds job at Jordan’s LNG terminal ahead of Iraq gig

Excelerate Energy, a U.S.-based liquefied natural gas (LNG) and power infrastructure company headquartered in Texas, has secured a new assignment for its newbuild floating storage regasification unit (FSRU) at an LNG terminal in Jordan.

about 5 months ago
Nidoco N-2 well was drilled from onshore using advanced directional drilling technologies; Source: Egypt's Ministry of Petroleum and Mineral Resources
Business & Finance

Fresh gas discovery unveiled as Eni and BP drill offshore well from onshore

Italy’s energy giant Eni and its partner, UK-headquartered BP, have used advanced directional drilling technologies to spud an offshore well from onshore, which led to a new natural gas discovery off the coast of Egypt.

about 5 months ago
Valaris 123, former Ensco 123, jack-up rig; Source: Valaris
Business & Finance

Valaris’ batch of rig deals lifts total contract backlog to $4.9 billion

Bermuda-incorporated offshore drilling contractor Valaris has secured new rig assignments and contract extensions in Brazil, Brunei, Indonesia, and the UK and Dutch sectors of the North Sea.

about 5 months ago
Illustration: Source: Wood Mackenzie
Business & Finance

Gulf LNG export woes push gas prices up but diversification becomes Europe’s energy lifeline

Given the supply shock that hit the global liquefied natural gas (LNG) markets as a result of the Middle East conflict, Wood Mackenzie, an energy intelligence group, has pointed out that this disruption, which led to a gas price surge, failed to rattle Europe thanks to its investment in diversified

about 5 months ago
Illustration; Source: Wood Mackenzie
Business & Finance

Oil & gas firms step up exploration game to tackle supply shortfall by 2050

As global exploration and production (E&P) players are facing a 40% output drop, Wood Mackenzie, an energy intelligence group, has pointed out that oil and gas companies are increasing high-impact exploration investment to address the 300-billion-barrel supply gap and energy security priorities by 2

about 5 months ago
Valeura charters Shelf Drilling’s 19-year-old rig
Business & Finance

Valeura charters Shelf Drilling’s 19-year-old rig

Canadian oil & gas company Valeura Energy has chartered a jack-up drilling rig owned by UAE-based Shelf Drilling for multi-year work in the Gulf of Thailand. The Enterprise jack-up rig has been chartered for a three-year term which runs until December 31, 2029. Valeura Energy has an option on the st

about 5 months ago