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Business & Finance

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MoU signing ceremony between WPDA and Private Office of His Royal Highness Sheikh Ahmed Dalmook Al Maktoum (Courtesy of WPDA)
Business & Finance

UAE company eyes floating solar opportunities in Pakistan

The Water and Power Development Authority of Pakistan (WAPDA) has signed two memorandums of understanding (MoU) with the Private Office of His Royal Highness Sheikh Ahmed Dalmook Al Maktoum of United Arab Emirates for capacity enhancement of existing small hydroelectric power plants and the developm

about 3 years ago
Transocean's Deepwater Invictus drillship; Source: BHP (now Woodside)
Business & Finance
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Transocean’s plethora of new rig deals fetches $1.2 billion

Transocean has won a bundle of new contracts and extensions in Mexico, Australia, Norway, Lebanon, and the East Mediterranean Sea.

about 3 years ago
ADNOC Gas inks $7-9 billion LNG supply deal with Indian Oil Corporation
Business & Finance

ADNOC Gas inks $7-9 billion LNG supply deal with Indian Oil Corporation

UAE’s ADNOC Gas, an integrated gas processing company, has signed a 14-year supply agreement with the Indian Oil Corporation (IOCL) for the export of up to 1.2 million metric tons per annum (mmtpa) of liquefied natural gas (LNG). According to ADNOC Gas, the agreement, valued in the range of $7 billi

about 3 years ago
LNG is cheaper than VLSFO, Sea Intelligence says
Business & Finance

LNG is cheaper than VLSFO, Sea Intelligence says

Liquefied natural gas (LNG) has become cheaper maritime fuel than Very Low Sulphur Fuel Oil (VLSFO), according to the most recent analysis made by Danish consultancy Sea-Intelligence. To comply with the IMO2020 regulations aimed at cutting sulphur emissions, the shipowners were given a choice betwee

about 3 years ago
Johan Sverdup field in the North Sea; Credit: Lizette Bertelsen & Jonny Engelsvoll/Equinor
Business & Finance

Europe redraws black gold map by switching out Russian oil with barrels from other top producers

With the demand for black gold still going strong, Europe has replaced Russian oil barrel for barrel by importing more from other producers.

about 3 years ago
JERA and PIF unite for development of green H2 projects and derivatives
Business & Finance

JERA and PIF unite for development of green H2 projects and derivatives

Japan’s energy major JERA and Saudi Arabia’s Public Investment Fund (PIF) have signed a Memorandum of Understanding (MoU), which is set to drive cooperation between the two parties, to explore opportunities for the development of green hydrogen projects and derivatives. Specifically, according to JE

about 3 years ago
Illustration; Source: The International Energy Agency (IEA)
Business & Finance

IEA: Ensuring gas supply security and decarbonisation high on global energy market’s agenda

A new report says closer dialogue between producers and consumers is required to ensure security of gas supply while curbing emissions.

about 3 years ago
Sparrows Group
Business & Finance

Sparrows lands crane replacement deal for four offshore platforms

Sparrows Group has secured a long-term crane replacement contract with an undisclosed player in the Middle East.

about 3 years ago
In focus: Is LNG stuck between a rock and a hard place in the energy transition story?
Business & Finance

In focus: Is LNG stuck between a rock and a hard place in the energy transition story?

The energy transition towards low-carbon and green energy sources is gaining momentum worldwide, driven by rising climate and energy security concerns. That being said, the thorny road toward decarbonization always seems to be stuck between the need to ‘act now’ and find the ‘silver bullet’. The sen

about 3 years ago
Fleetship
Business & Finance

Transworld and Fleet Management form ship management JV

UAE-based shipping company Transworld Group and Hong Kong-based ship management company Fleet Management (FLEET) have established a new ship management joint venture, Transworld Fleet Management. The JV will provide dedicated technical management services to Transworld Group’s fleet which includes c

about 3 years ago
Eco Wave Power's wave energy plant in Jaffa Port, Israel (Screenshot/Video by Eco Wave Power)
Business & Finance

Eco Wave Power bags EU funding for its newest wave energy plant

Swedish-Israeli wave energy developer Eco Wave Power has been awarded a grant from the EU that will be used to add educational and knowledge-sharing features to the company’s newest wave energy power station at the Port of Jaffa in Israel.

about 3 years ago
South Pars (SP) Phase 11; Source: IOEC
Business & Finance

Gallery: Phase 11 of giant gas field in Persian Gulf to bring Iran up to $5 billion annually

The installation of the much-anticipated South Pars (SP) Phase 11 platform has been completed in the Persian Gulf.

about 3 years ago
Illustration; Source: APPEA
Business & Finance

Gas rush paints LNG as energy transition’s trump card to low-carbon future

Gas has solidified its position at the top of the energy pyramid, thus, the pursuit for more natural gas and LNG is in full swing.

13 minutes read
Maersk
Business & Finance

Clarksons: 44 pct of ships ordered in H1 are alternatively fueled

Green transition remains a central underlying driver for shipping markets, according to the latest review from Clarksons Research, which estimates that 44% of newbuild tonnage ordered in the first half of this year was alternative fueled. With 62 orders secured in the first six months of 2023, metha

about 3 years ago