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Business & Finance

Valaris anticipates ‘meaningfully’ higher profits in next two years, as rig market tightens further

Valaris has recorded a strong operational and financial performance during the third quarter of 2023, thanks to a rise in rig demand and day rates.

about 3 years ago

Business & Finance

Halliburton and Oil States Industries bringing ‘innovative’ deepwater managed pressure drilling solutions to life

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Halliburton has joined forces with Oil States Industries to provide operators with deepwater MPD equipment, control systems, and services.

about 3 years ago

AD Ports buys 10 vessels in $200 million deal

Business & Finance

AD Ports buys 10 vessels for $200 million

UAE-based AD Ports Group has acquired ten vessels for around $200 million, representing a circa 20% increase in offshore and subsea capacity for the company’s Middle East and Southeast Asia operations. The vessels, bought from offshore supply vessel owner and operator E-NAV, are said to make a well-

about 3 years ago

Business & Finance

As UK pledges more oil & gas licensing opportunities, calls emerge to supercharge renewables instead

Britain’s government is putting the wheels into motion to embrace more hydrocarbons with open arms by opening new licensing opportunities to ensure energy security while hoping to unlock more green investments in the process.

about 3 years ago

Svanehøj hits record in orders due to LNG-fueled newbuilds increase

Business & Finance

ITT set to acquire Danish pump specialist Svanehøj

Danish marine pump specialist Svanehøj Group revealed that it is being acquired by ITT Inc., a U.S.-based multi-industrial company, which is expanding its presence in the growing market for liquefied gas. Svanehøj specializes in the supply of marine fuel and cargo pumps, along with LNG/LPG tank gaug

about 3 years ago

Business & Finance

Andritz orders 18 electrolyzers from HydrogenPro

Technology company and an OEM for high-pressure alkaline electrolyzers HydrogenPro and technology group Andritz have signed a purchase contract for the delivery of 18 units of HydrogenPro’s 5.5 MW cell stacks with a total capacity of 100 MW. The firm purchase order follows a stock exchange notice da

about 3 years ago

Business & Finance

Eni and Snam unveil Italy’s first carbon capture and storage project

Italy’s oil and gas giant Eni and energy infrastructure operator Snam have launched the first carbon capture and storage (CCS) project in Italy. Eni CEO Claudio Descalzi and Snam CEO Stefano Venier signed an agreement on December 19, 2022, to jointly develop and manage Phase 1 of the Ravenna CCS Pro

about 3 years ago

Business & Finance

RINA picks new CEO as it eyes stock market debut

Italian inspection, classification, and engineering consultancy firm RINA has appointed Carlo Luzzatto as the future CEO and General Director. He will assume the role of Ugo Salerno, who will continue to play an integral role in the running of the company, retaining his position as executive preside

about 3 years ago

Business & Finance

HHLA: Boards greenlight takeover offer by MSC

The Executive Board and the Supervisory Board of HHLA are recommending the shareholders to accept the MSC offer.

about 3 years ago

NFE partners with Pemex to deploy FLNG solution at Lakach field

Business & Finance

New Fortress Energy inks FSRU charter agreement with Petrobras

U.S. energy company New Fortress Energy (NFE) has executed a definitive agreement to charter the floating storage and regasification unit (FSRU) Energos Winter from Brazilian state-owned oil and gas giant Petrobras starting in December 2023. According to NFE, the FSRU will be deployed to Terminal Ga

about 3 years ago

Business & Finance

P&O Maritime Logistics: We are assessing a diverse array of fuels

In today’s rapidly evolving landscape, it is no longer a question of whether to decarbonize, but rather how to do it effectively and strategically. The imperative to reduce carbon emissions and embrace sustainability has become an indisputable reality for businesses across industries. The focus has

about 3 years ago

ETAP facility in the North Sea; Source: BP

Business & Finance

BP brings on stream first oil & gas tie-back to its UK North Sea hub in 20 years

BP has started production from a field in UK waters, which was developed by Neptune Energy and connected to the oil major’s 25-year-old Eastern Trough Area Project (ETAP) hub, reusing some existing subsea infrastructure.

about 3 years ago

Business & Finance

Wärtsilä reshuffles organization, discontinuing Marine Systems

Finnish technology group Wärtsilä revealed plans to further streamline its marine business portfolio by divesting its Gas Solutions business unit.

about 3 years ago

Business & Finance

Hull monitoring systems ordered for two Petrobras’ FPSOs under construction at Chinese yard

Light Structures has won two contracts for the delivery of hull stress monitoring systems for two Petrobras-commissioned FPSOs.

about 3 years ago