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Business & Finance

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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 3 years ago
New clean hydrogen partnership to promote electrolyzers
Business & Finance

New clean hydrogen partnership to promote electrolyzers

U.S. Plug Power, South Korean SK E&S and K-water as well as SK Plug Hyverse, a joint venture between SK E&S and Plug Power, have signed a memorandum of understanding (MoU) to “promote the growth of green hydrogen and rejuvenate the industry.” Specifically, the companies will collaborate on advancing

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about 3 years ago
Illustration; Source: Australian Energy Producers (former APPEA)
Business & Finance

Australia’s oil & gas industry calls for fix of offshore regulatory approval ‘chaos’ as wait times increase

Australian Energy Producers, representing Australia’s upstream oil and gas exploration and production industry, has called on the Commonwealth to “urgently fix” – what it deems as – the broken offshore regulatory system after the logjam of energy supply and carbon capture projects awaiting approval

about 3 years ago
Updated converter station plan for UK-France interconnector gets OK
Business & Finance

Updated converter station plan for UK-France interconnector gets OK

The FAB interconnector that will link Great Britain and France has received updated planning permission for its converter station in the UK. The FAB Project will link the national electricity grids of Great Britain and France with the aim of increasing energy security, equalising electricity prices

about 3 years ago
Weatherford
Business & Finance

Weatherford and Honeywell speed up decarbonization journey with emissions management solution

Weatherford International has joined forces with Honeywell to deliver a combined suite of tools for advanced emissions management to accelerate their customers’ decarbonization strategy.

about 3 years ago
50Hertz award brings NKT's order backlog to record €11 billion
Business & Finance

50Hertz award brings NKT’s high-voltage order backlog to record €11 billion

Denmark-headquartered cable supplier NKT has reported a new record high-voltage order backlog of €11 billion for the third quarter of 2023, driven by the award of five firm projects under a larger framework agreement with German transmission system operator 50Hertz. In Q3 2023, NKT’s revenues increa

about 3 years ago
Depsea Yantai rig; Source: Odfjell Drilling
Business & Finance

Vår Energi gearing up to spud two North Sea wells

Vår Energi has secured a drilling permit to spud two wildcat wells in the North Sea, using one of Odfjell Drilling-managed rigs.

about 3 years ago
CMES and PetroChina unit conclude 25-year lease deal for two LNG carriers
Business & Finance

CMES and PetroChina unit conclude 25-year lease deal for two LNG carriers

China Merchants Energy Shipping (CMES) has signed a long-term transportation agreement with a subsidiary of PetroChina for two of its LNG carriers under construction. According to a stock exchange filing, CMES signed the agreement with China Petroleum International (Hong Kong) on November 7, 2023. U

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

Halliburton and Sekal unleashing digital well construction solutions’ full potential

Halliburton has pooled resources with Sekal to jointly provide well construction automation solutions as part of a longer-term strategy to deliver fully automated drilling operations.

about 3 years ago
Ocean GreatWhite at Kishorn Port back in 2019; Source: Kishorn Port
Business & Finance

Diamond Offshore spots signs of ‘strong and lasting upcycle’ as its rigs land new jobs in UK

Diamond Offshore Drilling is optimistic about the future after winning more assignments for its rig fleet in the UK during the third quarter of 2023.

about 3 years ago
Oil reel; Source: Trolleborg
Business & Finance

Trelleborg: Enhancing FPSO ops and enabling cost savings for oil & gas operators by getting rid of regulations’ gap

Trelleborg’s Jonathan Petit sheds light on the reasons why industry standards need to keep pace with innovation for reeling operations.

about 3 years ago
NFE teams up with Plug Power for green hydrogen plant on Gulf Coast
Business & Finance

NFE closes asset-based financing to fully fund its Barcarena power plant

U.S. energy infrastructure company New Fortress Energy (NFE) has executed definitive agreements with the Brazilian development bank Banco Nacional de Desenvolvimento Econômico e Social (BNDES) and funds managed by Lumina Capital Management and BTG Asset Management to fund up to $575 million in asset

about 3 years ago
Expro wraps up well cementing gig for 'large operator'
Business & Finance

Expro wraps up well cementing gig for ‘large operator’

Energy services provider Expro has completed a well cementing project in the U.S. Gulf of Mexico for what it describes as a “large international operator”. Expro delivered an inner-string cementing on a subsea well’s 22″ surface casing in a water depth of approximately 2,000 meters in the Mississipp

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

Another win for McDermott in Asia, thanks to new multi-million deal with ONGC

McDermott has tucked under its belt a new transportation and installation contract with ONGC for a gas project offshore India.

about 3 years ago