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Business & Finance

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Wadad Aletheia; Source: CCCUWE
Business & Finance

New vessel joins UAE firm’s subsea fleet

This 149.5-meter multi-purpose Ice Class diving support and subsea construction vessel has been made for worldwide subsea operations, including operations in coastal waters.

about 2 years ago
64% mull cutting maritime investments amid ESG concerns, reveals Woodrow study
Business & Finance

64% mull cutting maritime investments amid ESG concerns, reveals Woodrow study

Some 64% of senior finance professionals in the UK are contemplating reducing their investment in the maritime sector because of Environmental, Social, and Governance (ESG) risks, according to a recent study from sustainability and communications consultancy Woodrow. The report sheds light on key ar

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

Decision time for oil & gas industry: Embrace green energy shift or keep fueling climate crisis

The International Energy Agency (IEA): The time has come for the oil and gas industry to take a firm stand during the transition era.

about 2 years ago
Stena Forth drillship; Source: Stena Drilling
Business & Finance

Shell finds gas in Mediterranean Sea with Stena drillship

Shell Egypt, a subsidiary of oil major Shell, has made a new gas discovery in an offshore block located in Egypt’s Mediterranean Sea.

about 2 years ago
Oman LNG enters sales and purchase deal with BP
Business & Finance

Oman LNG enters sales and purchase deal with BP

Oman LNG has signed a sales and purchase agreement (SPA) with British energy giant BP for the supply of 1 million metric tonnes per annum (mtpa) of LNG. Oman LNG announced the signing of the agreement on November 21, stating that it sustains the company’s position as a reliable supplier while contri

about 2 years ago
Santos
Business & Finance

ADNOC and Santos embarking on carbon capture and storage with net zero at the heart of decarbonization quest

ADNOC has joined forces with Santos to pursue a pathway towards the potential development of a joint global carbon management platform.

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

In focus: Energy and maritime plays shaping greener future to wean the world off fossil fuels

This week saw Europe entrench its position as the decarbonization trailblazer, with the Netherlands, Germany, Norway, Denmark, and Belgium spearheading the new wave of projects.

23 minutes read
Tekmar receives order for Middle Eastern pipeline project
Business & Finance

$3 million contract for Tekmar in ‘strategically important’ Middle East

Tekmar Group has secured a contract worth over £2.5 million (around $3 million) to deliver cable protection for a project in the Middle East. The contract is for the design and supply of the TekDuct cable protection, ballast modules and associated ancillaries for a subsea project in the Middle East.

about 2 years ago
Illustration; Courtesy of Center for International Environmental Law (CIEL)
Business & Finance

Report: Instead of emission silver bullet, offshore CCS rush deemed as fossil fuel extension cover-up

New report from the Center for International Environmental Law (CIEL) outlines that offshore CCS is not a solution to fossil fuel pollution.

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

TotalEnergies draws attention to slow energy transition progress, urging developed economies to support Global South’s transformation

TotalEnergies has published its new annual energy outlook, presenting scenarios for the evolution of demand and the global energy system to contribute to the energy transition’s debate in the run-up to COP28.

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

COP28: Sketching decarbonization roadmap with phase-out of fossil fuels as the centerpiece to get global net-zero efforts on track

COP28 is seen as a beacon of hope to devise a transformational roadmap in a bid to get the global energy transition undertaking on track.

about 2 years ago
Dr. Sultan Al Jaber, COP28 President
Business & Finance

Will COP28 live up to the hype and establish an energy transition roadmap leaving no one behind?

The UAE plans to spearhead efforts at COP28 for a clear roadmap to step up net zero progress through “a pragmatic global energy transition.”

about 2 years ago
Kingdom 1 jack-up rig; Source: ARO Drilling
Business & Finance

WATCH: ARO Drilling and IMI hold naming ceremony for first of 20 planned newbuild jack-up rigs

ARO Drilling and International Maritime Industries held a naming ceremony for the first Saudi-operated and manufactured offshore jack-up rig.

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

Report: Fossil fuel age not running out of gas, as production ramp-up undermines net-zero transition

A new report warns that plans to scale up fossil fuels threaten net-zero targets, derailing the transition to a sustainable future in line with the 1.5°C warming limit.

about 2 years ago