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Business & Finance

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Santorini drillship; Source: Saipem
Business & Finance

Offshore drilling upcycle whets contractors’ appetite for rig reactivation with scrapping taking a downturn

Westwood says offshore rig scrapping is at its lowest level in years, as the offshore drilling market’s recovery intensifies.

about 3 years ago
Transocean's Deepwater-Invictus (for illustration purposes); Source: BHP
Business & Finance

International offshore rig count takes a nosedive

Baker Hughes’ international rig count report shows that the number of offshore rigs took a downturn in February 2023, slipping by 4 units, compared to last month.

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about 3 years ago
ADNOC and Eni ally on clean energy and sustainability
Business & Finance

ADNOC and Eni ally on clean energy and sustainability

The UAE’s Abu Dhabi National Oil Company (ADNOC) and Italy’s Eni have signed a Memorandum of Understanding (MoU) which outlines a framework of cooperation for future joint projects on energy transition, sustainability, and decarbonisation. Through this agreement, Eni and ADNOC said they will explore

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

In focus: Tackling energy trilemma with oil & gas industry calling the shots

With the global oil and gas industry’s income skyrocketing to nearly $4 trillion in 2022, many are of the opinion that this sector holds the purse strings. Will it tighten or loosen them to invest a considerable chunk in the clean energy transition?

12 minutes read
Lower Zakum; Source: ADNOC
Business & Finance

TotalEnergies expands its upstream portfolio in UAE with several offshore fields

TotalEnergies has inked a deal to acquire CEPSA’s upstream assets in the UAE, adding multiple offshore fields to its asset portfolio.

about 3 years ago
Illustration; Source: International Energy Agency (IEA)
Business & Finance

EIA calls for new approach: Throwing carbon prices into the mix to unveil fossil fuel subsidies

The International Energy Agency (IEA) has outlined a new price gap-plus approach that could bring carbon prices and environmental costs into the equation.

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

Security of supply to surpass clean and affordable parts of energy trilemma in 2023, says DNV

DNV, a Norway-based classification society, which predicts that energy security will be the top priority in the energy trilemma this year.

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

Chevron and Egyptian govt join forces to curb methane from oil & gas sector

Chevron has inked a memorandum of understanding (MoU) on methane management with Egypt’s Ministry of Petroleum and Mineral Resources.

about 3 years ago
Felicity Ace
Business & Finance

World’s biggest maritime cargo carriers join Safetytech accelerator

Some of the world’s biggest maritime cargo carriers are joining forces with the world’s first industrial safety technology accelerator to launch an innovation initiative to reduce cargo loss at sea. The companies joining the accelerator are Evergreen Line, HMM, Maersk, the Offen Group, Ocean Network

about 3 years ago
Valaris 118, formerly known as Joe Douglas; Source: BP
Business & Finance

Valaris builds on ‘contracting success’ from 2022 with new floater and jack-up deals in 2023

Valaris has revealed a robust performance during 4Q 2022 while kicking off 2023 with new contracts and extensions for its rig fleet.

about 3 years ago
Illustration; Source: International Energy Agency (IEA)
Business & Finance

IEA: Fraction of bumper profits during 2022 can slash oil & gas sector’s methane emissions

Methane emissions remained stubbornly high in 2022, even as soaring energy prices made actions to reduce them cheaper than ever, says IEA.

about 3 years ago
Leviathan partners set the ball rolling for Israeli floating LNG terminal
Business & Finance

Leviathan partners set the ball rolling for Israeli floating LNG terminal

Partners in the Leviathan gas field offshore Israel have approved budgets for 2023 which include nearly $100 million for the expansion of the existing infrastructure and preparation of the future floating LNG terminal. Said to be the largest energy project in Israel’s history, the deep-sea field sta

about 3 years ago
JERA and TAQA enter decarbonisation partnership
Business & Finance

JERA and TAQA enter decarbonisation partnership

Japanese energy major JERA has signed a Memorandum of Understanding (MOU) with Abu Dhabi National Energy Company (TAQA) that will see them explore opportunities to work together to develop projects in the area of decarbonisation. The partnership follows JERA’s efforts to develop business in the Midd

about 3 years ago
Illustration; Source: Capricorn Energy
Business & Finance

Capricorn – NewMed merger plans come to naught

UK-based Capricorn Energy has dropped the previously announced merger agreement with Israel’s NewMed Energy, following board changes.

about 3 years ago