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Business & Finance - Offshore Energy

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Illustration/OPT’s PowerBuoy (Courtesy of OPT)

Business & Finance

OPT secures $6.5M contract for its PowerBuoys with US government

US-based company Ocean Power Technologies (OPT) has secured a letter contract with a $6.5 million ceiling for its wave-powered buoys to bolster maritime domain awareness for us government agencies.

about 2 years ago

Saad Sherida Al-Kaabi, Qatar's Minister of State for Energy Affairs, President and CEO of QatarEnergy; Source: QatarEnergy

Business & Finance

While advocating stronger cooperation, QatarEnergy CEO calls for ‘realistic and scientifically based’ energy transition pathway

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QatarEnergy’s CEO has urged Arab countries to bolster their cooperation efforts in the evolving energy landscape to address the energy transition challenges.

about 2 years ago

Business & Finance

MAN taps Alfa Laval for methanol fuel-supply solution

German engine manufacturer MAN Energy Solutions has signed an agreement with Alfa Laval, the Swedish industrial concern, to develop a methanol fuel-supply solution for MAN four-stroke engines and its fuel-injection technology. As a result, the first four-stroke engine types will be capable of retrof

about 2 years ago

Business & Finance

Polish firm closer to becoming the operator of only Barents Sea CO2 exploration license

Horisont Energi and PGNiG Upstream Norway (PUN), part of Poland’s ORLEN Group, have signed a sales and purchase agreement (SPA) under which PUN acquires a 50% participating interest in the only CO2 exploration license in the Barents Sea and is willing to take over the operator role. Under the SPA, P

about 2 years ago

Six European countries launch research center for subsea infrastructure security

Business & Finance

Research center for subsea infrastructure security opens in The Hague

The Seabed Security Experimentation Center (SeaSEC), the research center for submarine infrastructure security, has officially opened in The Hague, the Netherlands. Located at Campusatsea in Scheveningen, the SeaSEC research center is committed to safeguarding the subsea infrastructure in the North

about 2 years ago

Greater Laggan Area; Source: TotalEnergies

Business & Finance

With replacement work underway, restart of TotalEnergies’ UK gas plant anticipated in fortnight’s time

TotalEnergies is continuing its investigation into the failure of a heating system section at a gas plant on the north coast of the main island of the Shetland Isles.

about 2 years ago

Business & Finance

Fresh gas discovery and appraisal activity put potential tie-back to North Sea platform on the table

Neptune Energy has revealed a new gas discovery at an offshore prospect and confirmed the volumes for an appraisal well in the North Sea.

about 2 years ago

Business & Finance

Star Bulk and Eagle join forces to create dry bulk shipping powerhouse

Nasdaq-listed dry bulk shipping company Star Bulk Carriers and Eagle Bulk Shipping, one of the world’s largest owner-operators within the midsize dry bulk vessel segment, revealed their intent to merge through an all-stock agreement. The merger is expected to create a dry bulk shipping powerhouse wi

about 2 years ago

Business & Finance

Cable-lay equipment ordered for new Nexans vessel

Italian company Remacut, part of NOV, has won a contract with Nexans to deliver the cable-lay equipment for the company’s new cable-lay vessel (CLV). Building on its predecessor, the CLV Nexans Aurora, the newly constructed vessel will incorporate a 3,500-ton underdeck carousel to complement the 10,

about 2 years ago

Business & Finance

NYK Line reveals plans for main engine upgrade on Moss-type LNG carriers

Japanese shipping major NYK Line has teamed up with compatriot shipbuilders Namura Shipbuilding Co. and Sasebo Heavy Industries Co. to replace the main propulsion on steam turbine–driven Moss-type LNG carriers. In October 2023, NYK was granted Approval in Principle (AiP) from the Japanese classifica

about 2 years ago

Deepsea Bollsta rig; Source: Lundin Energy

Business & Finance

With Shell opting out of last extension option in Namibia, rig available for hire in summer

Northern Ocean is on the lookout for further assignments for a semi-submersible rig, which is expected to finish its work with Shell in the summer next year.

about 2 years ago

António Guterres, UN Secretary-General; Credit: UNFCCC/Kiara Worth

Business & Finance

COP28: Will a magic wand sweep away oil, gas, and LNG in favor of green agenda?

As a battle over fossil fuel language continues to rage, the pressure is not letting up on demands to phase out fossil fuels.

12 minutes read

Illustration; Source: The International Energy Agency (IEA)

Business & Finance

COP28’s impact on LNG spree: Will decarbonization moves throw oil & gas players off their game?

Will the anticipated global build-out of liquefied natural gas (LNG) projects continue or will many of these projects come to an abrupt end?

15 minutes read

Business & Finance

Hy24’s Clean Hydrogen Equipment Fund wins Dutch bank’s support

Dutch bank ABN AMRO is investing in the Clean Hydrogen Equipment Fund, managed by Hy24, a clean hydrogen investment fund committed to scaling up the global hydrogen economy. This is said to be the second climate-related fund investment taken on by ABN AMRO Corporate Investments and fits with the ban

about 2 years ago