Business & Finance
NEL Hydrogen to deliver PosHYdon electrolysis system
Norway’s NEL Hydrogen ASA has won the contract to deliver the offshore electrolysis system for the PosHYdon project in the Dutch North Sea. The PosHYdon pilot is an initiative of Nexstep, the Dutch association for decommissioning and reuse, and TNO, the Dutch organisation for applied scientific rese
Rystad expects 2021 to bring largest crude deficits in years
The Covid-19 pandemic has devastated crude and condensate demand, creating massive supply surpluses and filling up inventories, according to Rystad.
Nord Stream 2 to start laying pipes in Danish waters in January
Russia’s Nord Stream 2 gas project is expected to start laying pipes for the gas pipeline in Danish waters in January 2021.
Hapag-Lloyd orders six LNG-powered 23,500+ TEU ULCVs in $1 billion deal
German liner giant Hapag-Lloyd has ordered six ultra-large container vessels from Korean shipyard Daewoo Shipbuilding & Marine Engineering (DSME). The $ 1 billion investment will see the LNG-powered 23,500+ TEU vessels delivered to Hapag-Lloyd between April and December 2023. The vessels will be fit
Eni enters new alliance to work on key sectors of energy transition
Italian oil and gas company Eni, CDP, and Snam have signed a Letter of Intent to start a strategic collaboration for the energy transition.
Epic Gas, Lauritzen create LPG giant
LPG shipping heavyweight Epic Gas, and Lauritzen Kosan A/S, the gas carrier division of J. Lauritzen, have entered into a deal to combine their fleet and business activities to create BW Epic Kosan. The combination will create a genuine powerhouse in the last mile delivery of LPG and other specialit
Port of Rotterdam looking into potential of new trade corridors for hydrogen
The Port of Rotterdam, Europe’s leading trading hub, has become part of a feasibility study named HySupply to explore what role could the port play in the possible creation of a new trade corridor for hydrogen. The project is led by Germany, which is investing heavily in hydrogen, and it is focusing
Oil & Gas UK adds three board members as sector pushes to meet net-zero target
Oil & Gas UK has appointed three major business leaders to its board as the sector sharpens its focus on meeting net-zero targets.
Sif buying KCI the engineers
Sif has signed a heads of agreement with Royal IHC to acquire the Netherlands-based engineering and consultancy company KCI the engineers. The final agreement is subject to due diligence outcome and is expected in the first quarter of 2021. Works Councils of the two parties have been informed or ask
AqualisBraemar acquires LOC Group
AqualisBraemar has acquired 100 per cent of the shares in LOC Group with the purchase price consideration of USD 20.2 million (around EUR 16.5 million) cash consideration plus two million conditional warrants in AqualisBraemar. As reported in November, when the acquisition was announced, LOC Group’s
Equinor and partners to improve North Sea field recovery with $345 million investment
Equinor has decided to invest NOK 3 billion ($342.8 million) in the Statfjord Øst field to improve recovery by 23 million barrels of oil equivalent.
IMO Secretary-General slams ‘no crew change’ clause as crew change crisis enters its 10th month
IMO Secretary-General Kitack Lim has criticized the “no crew change” clauses in charterparties, stressing that such clauses exacerbate the dire situation of stranded seafarers and undermine the efforts undertaken to resolve the ongoing crew change crisis. The so-called “no crew change” clauses, whic
Navis unveils its top predictions and trends that will drive the shipping industry in 2021
Navis, a part of Cargotec Corporation engaged in providing operational technologies and services to bolster terminals’ performance efficiency, has identified its top predictions and trends that will drive the shipping industry and the technology that will be most impactful for meaningful operations
ConocoPhillips makes ‘significant’ oil discovery off Norway
ConocoPhillips has made a new oil discovery in production license 891 located 14 miles north-northeast of the Heidrun field in the Norwegian Sea.