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Vito platform in the U.S. Gulf of Mexico; Credit: Shell

Business & Finance

Oil & gas with LNG as centrepiece getting a $40 billion slice of Shell’s investment pie

Shell has unveiled plans to spend around $40 billion in its Integrated Gas and Upstream businesses, as it believes that oil and gas will remain important players on the energy stage.

about 3 years ago

Illustration; Source: International Energy Agency (IEA)

Business & Finance

With peak oil demand in sight, is the end of the black gold era really approaching?

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The International Energy Agency (IEA) believes that growth in global oil demand is projected to slow down to a crawl by 2028.

about 3 years ago

Business & Finance

Converter stations ordered for first subsea interconnector between France and Spain

Hitachi Energy has secured a contract with Spanish and French electricity transmission operators to supply HVDC converter stations for the first subsea electricity interconnection between France and Spain. The contract for the Biscay Gulf interconnection has been awarded by Electricity Interconnecti

about 3 years ago

Business & Finance

Wilson pens deal for up to 14 future-proof newbuildings

European short-sea player Wilson ASA has signed a contract for the construction of six 3,800 dwt future-proof bulkers. Under the contract, Wilson has options for eight more diesel-electric cargo vessels, totaling the order to 14 vessels. India’s shipbuilder Cochin Shipbuilding confirmed that it has

about 3 years ago

Business & Finance

MOL invests in clean hydrogen-ammonia production project in Louisiana

MOL Clean Energy (MCE), a subsidiary of Japanese shipping company Mitsui O.S.K. Lines, Ltd. (MOL), has made a strategic investment in Ascension Clean Energy (ACE), a proposed global-scale clean hydrogen-ammonia production and export facility in Ascension Parish, Louisiana. The strategic investment b

about 3 years ago

Business & Finance

SEA-LNG: LNG has half the lifetime cost of methanol and ammonia

The lifetime fuel costs of meeting key European decarbonisation targets for shipping through the LNG pathway are expected to be roughly half that of the methanol or ammonia pathways, according to the findings of a new analysis from the SEA-LNG coalition. The multi-sector coalition promotes the comme

about 3 years ago

Business & Finance

New deals with TotalEnergies and GIP to support NextDecade in reaching Rio Grande LNG FID

Texas-based energy company NextDecade has signed framework agreements with Global Infrastructure Partners (GIP), an independent infrastructure fund manager, and TotalEnergies, a French energy major, to enable the final investment decision (FID) for the Rio Grande LNG Phase 1 and to provide momentum

about 3 years ago

Ports of Stockholm and Port of Riga sign Memorandum of Understanding to apply for joint EU funding

Business & Finance

Ports of Stockholm and Freeport of Riga to apply for joint EU funding

The Ports of Stockholm and the Freeport of Riga Authority have signed a Memorandum of Understanding (MoU) to work on a joint application for EU funding to reduce the impact of port activities on the environment. The partnership aims to enable further development of passenger terminals in the two cap

about 3 years ago

Business & Finance

Port of Brisbane links up $500mln sustainability-linked loan

The Port of Brisbane, Australia’s largest and most diverse capital city port, has agreed to terms on a $500 million sustainability-linked loan.

about 3 years ago

Business & Finance

Woodside and TechnipFMC strike another deal offshore Western Australia

Australia’s energy giant Woodside Energy has awarded TechnipFMC with a contract to deliver flexible pipes and umbilicals for a project offshore Western Australia. Under the contract deemed as “significant”, TechnipFMC is in charge of the engineering, procurement, construction, and installation of fl

about 3 years ago

Transocean Encourage rig; Source: Transocean

Business & Finance

Seal of approval for Equinor to start drilling activities with Transocean rig

Equinor has received consent from Norway’s regulator to use one of Transocean’s rigs on a block located in the Norwegian Sea.

about 3 years ago

Norve jack-up rig; Source: Borr Drilling

Business & Finance

Oil flows from second well off Gabon as Borr rig spuds third one

BW Energy has brought on stream the second well in its drilling campaign offshore Gabon while the drilling ops on the third well are ongoing.

about 3 years ago

Business & Finance

Shell on decarbonisation quest plans to dish out $10-15 billion in low-carbon energy by 2025

Shell has decided to step up its decarbonisation efforts by boosting its low-carbon energy solutions business with investments of $10-15 bln.

about 3 years ago

Business & Finance

Project Greensand gets DNV’s safety approval

Classification society DNV has verified the safety of all aspects of Project Greensand’s CO2 storage in the North Sea. Project Greensand includes capturing CO2 at an INEOS Oxide site in Zwijndrecht, Belgium, which is transported cross-border and stored in the Nini field in the Danish North Sea. The

about 3 years ago