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Business & Finance

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HMM
Business & Finance

Harim emerges as HMM’s preferred bidder

A consortium led by Harim Group, the parent company of bulker operator Pan Ocean, has secured its position as the preferred bidder for the acquisition of South Korean shipping company HMM, Harim confirmed earlier today in a regulatory filing. The consortium, comprising Harim and its private equity p

about 2 years ago
BP and Subsea7 extend agreement from 1998
Business & Finance

BP and Subsea7 extend agreement from 1998

Subsea7 has secured an extension of the existing frame agreement with UK energy giant BP for subsea construction, inspection, repair and maintenance services (IRM), for assets in the North Sea. Under the terms of the two-year extension to the end of 2025, Subsea7 will provide an IRM, survey and ligh

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about 2 years ago
SHI
Business & Finance

Samsung Heavy ordered to pay $290 million to SK Shipping over LNG carrier defects

South Korean shipbuilder Samsung Heavy Industries (SHI) has received a court order to pay KRW 378 billion (about $290 million) to compatriot SK Shipping due to defects in the cargo holds of two liquefied natural gas (LNG) carriers.

about 2 years ago
European Investment Bank and Germany ally to replenish Green Hydrogen Fund
Business & Finance

European Investment Bank and Germany ally to replenish Green Hydrogen Fund

The European Investment Bank (EIB) has confirmed an additional German contribution to the Green Hydrogen Fund, enabling the fund to broaden its scope and supporting the international ramp-up of the hydrogen economy. The Green Hydrogen Fund, established in 2021 and implemented by EIB, will now provid

about 2 years ago
Noble Intrepid jack-up rig; Source; Noble Corporation
Business & Finance

North Sea assignment lengthened for another Noble jack-up rig

Noble Corporation has won a contract extension for one of its jack-up rigs with Harbour Energy for operations in the UK part of the North Sea.

about 2 years ago
Norwegian firm reflags whole fleet of owned vessels to Norway
Business & Finance

Norwegian firm reflags whole fleet of owned vessels to Norway

Norwegian seismic company PGS has reflagged the entire fleet of owned vessels to Norway, a move said to have the global geopolitical situation as a driving factor. The reflagging of the Ramform Tethys on December 5 marked the completion of the initiative to bring the entire PGS fleet of owned vessel

about 2 years ago
Layaran-1 well was drilled with Seadrill's West Capella drillship; Source: Mubadala Energy
Business & Finance

New gas discovery deemed as ‘major development’ for Southeast Asia

Abu Dhabi-headquartered energy company Mubadala Energy has made a significant gas discovery offshore North Sumatra, Indonesia.

about 2 years ago
Illustration; Source: MODEC and Terra Drone
Business & Finance

ABS hands out ‘world’s first’ approval for drone-based FPSO hull thickness measurement

MODEC and Terra Drone Corporation received the world’s first approval from ABS for a drone-based FPSO hull thickness measurement.

about 2 years ago
Following Gulf of Mexico project delivery, Trendsetter working for Woodside again
Business & Finance

Following Gulf of Mexico project delivery, Trendsetter working for Woodside again

Almost two months after the delivery of subsea equipment for Woodside Energy in the Gulf of Mexico, Texas-based oil and gas services company Trendsetter Engineering has begun work on another Woodside project. Trendsetter Engineering (TEI) has won a contract with Woodside Energy to provide several su

about 2 years ago
Fortescue secures €200 million EU funding for green ammonia project in Norway
Business & Finance

Fortescue secures €200 million EU funding for green ammonia project in Norway

Australia-based green energy, technology, and metals company Fortescue has been awarded a grant of €203,7 million by the European Union for its flagship green ammonia plant in Norway, the Holmaneset Project. The EU investment in Fortescue’s project is part of the Innovation Fund, one of the world’s

about 2 years ago
MoU signing; Source: NNPC
Business & Finance

With routine flaring out of the way, TotalEnergies teams up with NNPC to curb Nigeria’s methane footprint

TotalEnergies has joined forces with NNPC to carry out methane detection and measurement campaigns in Nigeria.

about 2 years ago
ADNOC buys OCI’s stake in world’s largest seaborne exporter of ammonia
Business & Finance

ADNOC buys OCI’s stake in world’s largest seaborne exporter of ammonia

Abu Dhabi National Oil Company (ADNOC) and OCI Global have entered into a sale and purchase agreement for ADNOC to acquire OCI’s entire majority shareholding in Fertiglobe, the world’s largest seaborne exporter of urea and ammonia. Headquartered in Abu Dhabi, Fertiglobe was formed as a strategic par

about 2 years ago
TAQA eyes joining Greece-Cyprus interconnector
Business & Finance

TAQA eyes joining 900-kilometer European interconnector

Abu Dhabi National Energy Company PJSC (TAQA) has signed a memorandum of understanding (MoU) to explore the possibility of becoming one of the shareholders in a project to develop a 900-kilometer HVDC electricity interconnection between Greece and Cyprus. Under the terms of the MoU, TAQA will explor

about 2 years ago
New terminal at Immingham port to support import of green ammonia from Saudi’s NEOM
Business & Finance

New terminal at Immingham port to support import of green ammonia from Saudi’s NEOM

UK’s ports operator Associated British Ports (ABP) has launched a tender seeking a lead contractor or consortium to design and build a bulk liquid green energy terminal at the Port of Immingham. According to ABP, Immingham Green Energy Terminal (IGET) will be a multi-user bulk liquid green energy te

about 2 years ago