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Business & Finance

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Kristin platform (for illustration purposes); Credit: Marit Hommedal/Equinor
Business & Finance

Norway’s gas output continues its downward plunge while oil goes up a notch

Norway saw a slight rise in oil production in August 2023 compared to the NPD’s predictions and the volume seen last year.

about 3 years ago
UK marine surveying company changes hands
Business & Finance

UK marine surveying company changes hands

UK offshore wind solutions provider OEG Renewables (OEGR) is targeting a strengthened position in the survey market with the acquisition of GEOSIGHT, a compatriot marine surveying company working on offshore renewable energy, subsea cables and civil projects. GEOSIGHT, founded in 2016 and headquarte

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about 3 years ago
NextDecade signs $356M loan agreement for Rio Grande LNG
Business & Finance

NextDecade signs $356M loan agreement for Rio Grande LNG

Texas-based energy company NextDecade has entered into a credit agreement with a group of lenders for $356 million of senior loans to finance a portion of the first three LNG trains (Phase 1) at its Rio Grande LNG export facility in Brownsville. According to NextDecade, the senior loans were disburs

about 3 years ago
French company seeking contractors to design offshore hydrogen ecosystem
Business & Finance

French company seeking contractors to design offshore hydrogen ecosystem

A French company specializing in renewable energy production has issued a contract notice seeking contractors for the design and supply of an offshore hydrogen production and transport ecosystem. EDF Renewables, a wholly-owned subsidiary of the French utility EDF Group, published the contract notice

about 3 years ago
Noble Regina Allen jack-up rig; Source: Noble Corporation
Business & Finance

TotalEnergies books Noble jack-up rig for drilling campaign in South America

Noble Corporation has secured a new contract with TotalEnergies for its harsh-environment jack-up rig, which is currently undergoing repairs.

about 3 years ago
Wello's Penguin wave energy device (Courtesy of Wello)
Business & Finance

Wello files for bankruptcy and ceases wave energy operations

Fifteen years after its establishment, the Finnish company Wello has declared bankruptcy and ceased operations following the failure of two of its full-scale Penguin wave energy devices in real sea conditions, the last of which occurred offshore Spain in late 2021.

about 3 years ago
Crowley nuclear power
Business & Finance

Crowley moves into nuclear energy sector with BWXT

Florida-based shipping and energy supply chain company Crowley has teamed up with nuclear power firm BWX Technologies through a memorandum of understanding for a ship concept that has the potential to generate nuclear power. Under the cooperation, the duo will work on the design, engineering, and de

about 3 years ago
Amin H. Nasser, Saudi Aramco President & CEO; Source: Saudi Aramco
Business & Finance

Aramco CEO: Widening gap in global energy transition lays bare need for ‘more realistic and robust’ multi-source plan

Aramco’s CEO has called upon world leaders and energy players to devise concrete transition steps in a bid to ensure a just transition and avert a potential energy crisis, as a result of a premature phasing out of fossil fuels.

about 3 years ago
WinGD KSS Line
Business & Finance

WinGD, KSS Line forge alliance on ammonia-powered future

Swiss marine power company WinGD has signed a memorandum of understanding with South Korean shipowner KSS Line to explore X-DF-A dual-fuel ammonia engines for future newbuilds. WinGD is due to begin validation of its ammonia-fuelled engine concept on single and multi-cylinder test engines, in Winter

about 3 years ago
Geotechnical investigation contract awarded for 3GW Scottish floating wind project
Business & Finance

Geotechnical investigation contract awarded for 3 GW Scottish floating wind project

Geoquip Marine has secured a contract to gather engineering data to support a proposed floating offshore wind project in Scotland that is being developed by ScottishPower and Shell. To support the MarramWind project, Geoquip Marine is set to perform a complete geotechnical investigation to gather so

about 3 years ago
Transocean Norge rig; Source: Transocean
Business & Finance

Commercial volumes not present in new gas discovery off Norway

OMV has made a new gas discovery at an exploration well in the Norwegian Sea, using one of Transocean’s semi-submersible rigs.

about 3 years ago
West Phoenix rig; Source: Seadrill
Business & Finance

New milestone for Seadrill rig

Seadrill has tucked a new milestone under its belt, thanks to the installation of a controlled mud level (CML) system on one of its rigs.

about 3 years ago
JERA invests in CO2 capture and hydrogen storage tech company
Business & Finance

JERA invests in CO2 capture and hydrogen storage tech company

Japan’s energy major JERA, through JERA Ventures, has invested approximately £1 million ($1.24 million) in Immaterial, a UK company that aims to accelerate the energy transition with its CO2 capture and hydrogen storage technologies. JERA said it will support startup growth and cocreation by offerin

about 3 years ago
mpa singapore rotterdam port
Business & Finance

MPA Singapore, Port of Rotterdam & partners set sights on 30 pct emission reduction by 2030

The Maritime and Port Authority of Singapore (MPA), the Port of Rotterdam (PoR) and 20 partners in the Green & Digital Shipping Corridor are working to reduce 20% to 30% of emissions from international shipping by 2030. This was agreed at the third Green Corridor workshop, held this week in Rotterda

about 3 years ago