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Business & Finance

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Ammonia
Business & Finance

In focus: Offshore energy, shipping look to CCS and alternative fuels as they ramp up decarbonization efforts

The offshore energy and shipping industries are essential components of global trade and commerce, responsible for transporting goods and powering homes and businesses around the world. However, they are also significant contributors to greenhouse gas emissions. As the world’s focus on reducing carb

about 3 years ago
Fugro's Blue Essence becomes first-ever UAE-flagged uncrewed surface vessel
Business & Finance
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Fugro’s Blue Essence becomes first UAE-flagged uncrewed surface vessel

Fugro has received full navigation licensing from the UAE Ministry of Energy and Infrastructure for its Blue Essence uncrewed surface vessel (USV). The navigation licensing for Fugro Pegasus represents the first registration of an over-the-horizon USV in the UAE, making the Blue Essence USV the firs

about 3 years ago
QatarEnergy transferring 5% of its stake in NFE to China’s Sinopec
Business & Finance

QatarEnergy transferring 5% of its stake in NFE to China’s Sinopec

Qatar’s state-owned oil and gas company QatarEnergy has signed a definitive partnership agreement with China Petroleum & Chemical Corporation (Sinopec) for the North Field East (NFE) expansion project. With this deal, Sinopec becomes the first Aisan shareholder in one of the NFE joint venture compan

about 3 years ago
Noble Invincible rig (for illustration purposes); Source: Noble
Business & Finance

International offshore rig count on the upswing

Baker Hughes’ international rig count report shows that the number of offshore rigs was on the rise in March 2023, surging upward by 6 units.

about 3 years ago
Oil barrels (illustration); Source: Equinor
Business & Finance

Canada ranked as preferred global oil supplier with fossil fuels carving a place in energy transition, shows Ipsos study

Ipsos has asked respondents in 28 countries around the world to complete a ranked ballot of eight oil-producing nations.

about 3 years ago
CRP Subsea wins contract for Middle East submarine HVDC project
Business & Finance

CRP Subsea wins contract for Middle East submarine HVDC project

England-based CRP Subsea, part of AIS, has secured a contract to deliver cable protection services for an HVDC submarine cable project offshore United Arab Emirates in the Arabian Gulf. More than 6 kilometers of Uraduct will be used at the cable crossings and platform approaches on the HVDC system,

about 3 years ago
AD Ports Group
Business & Finance

AD Ports Group inks $2 billion loan

UAE-based port operator AD Ports Group has signed a General Corporate Facility agreement with a syndicate of 13 regional and international banks worth approximately $2 billion. The multi-currency facility is divided into three tranches, amounting to €600 million, $620 million, and AED 2,863 million,

about 3 years ago
Vahana Aryan self-propelled jack-up rig; Source: DNV
Business & Finance

Rig becomes world’s first jack-up with DNV’s Abate-Ready notation

DNV has awarded – what it describes as – the world-first Abate-Ready notation for a jack-up unit to the Dubai-based Vahana Marine Solutions.

about 3 years ago
Illustration; Source: Remote Medical International (RMI)
Business & Finance

Pursuing stable energy supplies by preventing and curtailing offshore incidents

What should organisations and energy players do to prevent offshore accidents to ensure the security and stability of the energy supply?

about 3 years ago
The ‘EWP-EDF One’ project (Courtesy of Eco Wave Power)
Business & Finance

Eco Wave Power signs Israel’s first ever PPA for wave energy

Eco Wave Power has entered into an official power purchase agreement (PPA) with the Israeli National Electric Company (IEC) for the newly installed wave energy project at the Port of Jaffa in Tel Aviv.

about 3 years ago
Saipem 7000 semi-submersible crane vessel; Source: Saipem
Business & Finance

Fresh batch of offshore contracts brings Saipem $650 million

Saipem has been awarded three new offshore EPCI contracts and two FEED competition deals, totalling approximately $650 million.

about 3 years ago
Clarksons says alternative fuel ships account for 47 pct of orderbook, projects another 100 LNG carrier orders
Business & Finance

Clarksons says alternative fuel ships account for 47 pct of orderbook, projects another 100 LNG carrier orders

Alternative fuel ships have accounted for around 60% of new orders since the start of 2022 in GT, primarily driven by LNG dual-fuel vessel orders, and increasingly methanol, and now account for 5% of fleet GT and 47% of orderbook, data from Clarksons shows. Looking at the fleet profile, the shipbrok

about 3 years ago
ADNOC Offshore
Business & Finance

UAE player scopes up $2.6 bln deal while unveiling new turnkey offering to ‘revolutionise offshore oil and gas logistics’

ADNOC Logistics & Services has revealed a new deal with ADNOC Offshore, which amounts to $2.6 billion (AED9.5 billion).

about 3 years ago
Illustration; Source: Institute for Energy Economics and Financial Analysis (IEEFA)
Business & Finance

IEEFA warns of worsening inflation in power sector with carbon capture and storage in the mix

New report by IEEFA points out that adding CCS to fossil-fired power plants will have unsustainable implications on electricity prices.

about 3 years ago