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Business & Finance

Two Borr jack-up rigs heading to Middle East to start maiden deals

Following contract preparations in Singapore, two jack-up rigs from Borr Drilling are en route to Saudi Arabia.

about 4 years ago

Business & Finance

SAFEEN Feeders, Invictus Investment to spend $126 mln on acquisition of five bulkers

AD Ports Group’s SAFEEN Feeders has signed an agreement with Invictus Investment to launch a new international dry bulk shipping service for which they plan to buy five bulkers. The two companies plan to purchase ships through special purpose vehicles, owned 85% by SAFEEN Feeders and 15% by Invictus

about 4 years ago

Business & Finance

Financial close in place for $3.8 billion decarbonization project in UAE

Abu Dhabi National Oil Company (ADNOC) and Abu Dhabi National Energy Company PJSC (TAQA) have completed the financial closing of what is said to be the first-of-its-kind subsea transmission network in the MENA region. The $3.8 billion strategic project is set to power and significantly decarbonize A

about 4 years ago

Business & Finance

Gas production starts from new well off Egypt

E&P company Energean has announced a new gas production from the Abu Qir concession located offshore Egypt.

about 4 years ago

New Dutch donation to bridge funding gap, allowing UN to embark on salvage ops for ‘ticking timebomb’ in Red Sea

Business & Finance

New Dutch donation to bridge funding gap for UN’s salvage ops in Red Sea

With additional funds from the Netherlands, the UN may be able to start the salvage operation to prevent a major oil spill in the Red Sea.

about 4 years ago

Business & Finance

Chevron and partners prepare investment for Aphrodite gas field as Cyprus and Israel push for swift resolution of reservoir dispute

Oil major Chevron and its partners in the Aphrodite gas field off Cyprus have allocated funds for the drilling of an appraisal well and other development costs for the project.

about 4 years ago

Aramco CEO calls for ramp up of oil & gas investments and ‘more credible’ transition plan to tackle energy security challenges

Business & Finance

Aramco CEO calls for investments in oil & gas and ‘more credible’ energy transition plan

Ramp-up of oil & gas investments and a new energy transition plan are required for a secure and sustainable energy future, says Aramco’s CEO.

about 4 years ago

Two contrasting scenarios depict challenges on the road to decarbonisation amid energy crisis

Business & Finance

Two contrasting scenarios depict challenges to net-zero by 2050 amid energy crisis

A new report outlines challenges for the long-term energy transition outlook as the global energy crisis unfolds.

about 4 years ago

Business & Finance

Hyundai Samho bags LNG-powered PCTC pair

South Korean shipbuilder Hyundai Samho Heavy Industries, a subsidiary of Korea Shipbuilding & Marine Engineering Co., has won an order for the construction of two LNG dual-fuel pure car truck carriers (PCTC). The order is worth KRW 331 billion ( approximately $ 237 million) and it has been placed by

about 4 years ago

Business & Finance

Monjasa adds new tanker to bolster Middle East bunkering operations

As demand for marine fuel solutions increases, oil and shipping company Monjasa has acquired Monjasa Shaker, a 9,600 dwt oil and chemical tanker, to be deployed for cargo and bunkering operations in the Arabian Gulf. According to the company, the vessel allows onboard product blending and is capable

about 4 years ago

Eni and ADNOC looking into ways to expand and strengthen gas supply

Business & Finance

Eni and ADNOC looking into ways to strengthen energy security by expanding gas supply

UAE’s ADNOC and Italy’s Eni are contemplating options to explore opportunities to increase the security of gas supply.

about 4 years ago

Business & Finance

In focus: Don’t let a good energy crisis go to waste

The volatility within the energy market has forced nations to look inward for solutions to this global issue and cut their reliance on energy imports or diversify their sources of supply. Looking longer-term, if this approach becomes a policy and not a one-off solution to a one-off problem, this kin

about 4 years ago

Employment in clean energy sector on the rise, exceeding declines in fossil fuels jobs, says IEA

Business & Finance

Employment in clean energy sector on the rise, exceeding declines in fossil fuel jobs, says IEA

The International Energy Agency has outlined that employment in the energy sector is rising above pre-Covid levels, driven by clean energy.

about 4 years ago

Business & Finance

Energean weeks away from delivering first gas from Karish

Energean is on track to deliver the first gas from the Karish gas project located offshore Israel within weeks.

about 4 years ago