Business & Finance
First oil flows from subsea tie-back in North Sea
North Sea-focused Ithaca Energy has started production from a subsea tie-back to its FPF-1 facility located in the UK North Sea.
KHI opts for sustainable financing as it eyes large LH2 carrier by 2026
Japanese shipbuilder Kawasaki Heavy Industries (KHI) has established the Sustainability Linked Loan Framework Template and in accordance with the principles, set future targets regarding the establishment of a hydrogen supply chain.
Seadrill tasked with addressing nonconformities on jack-up rig
Norwegian offshore safety regulator has carried out an audit of maintenance management on one of Seadrill’s jack-up rigs.
Denmark awards first CO2 storage permit
The Danish Energy Agency has granted the first-ever permit for a CO2 storage project in Denmark. The project includes the injection and storage of up to 15,000 tonnes of CO2 in a former oil field over a four-month period. INEOS E&P and Wintershall Dea have been granted permission to begin a time- an
Ørsted and Danish partner announce large-scale Power-to-X project; Offshore wind in the plans
Ørsted and Danish renewable energy developer Skovgaard Energy have signed a letter of intent to jointly develop a Power-to-X facility in Denmark. The project is planned to be built in several phases, starting with electrolysis powered by onshore renewables and later tapping into offshore wind from t
North Sea field secures life extension
Sval Energi has received consent from Norway’s regulator to use the facilities on a North Sea field off Norway beyond their original lifespan.
Ocean Yield splashes $576 million on up to ten Newcastlemax newbuildings
Norwegian shipowner Ocean Yield AS is continuing its shopping spree now targeting the acquisition of up to ten Newcastlemax dry bulk newbuildings for a total consideration of up to $576 million. Upon delivery, the vessels will commence 15-year bareboat charters to an unnamed dry bulk operator with p
Will the UK’s huge new oil & gas project overcome the hurdles in its path?
Rosebank, located West of Shetland, is now facing additional obstacles that may hinder its progress and delay the sanctioning yet again.
CMES inks LoI for construction of methanol-powered car carriers
State-run shipping giant China Merchants Energy Shipping (CMES) revealed earlier today that it has signed a Letter of Intent (LoI) for the construction of up to six dual-fuel methanol-powered Pure Car and Truck Carriers (PCTC). The deal, signed with China Merchants Industry Holdings, stipulates the
Eco Wave Power’s third quarter net loss slightly rises
Swedish-Israeli wave energy company Eco Wave Power has released interim financial results 2022, marking a slightly higher net loss in the third quarter when compared to the same period a year earlier.
BP’s giant incoming hydrocarbon projects to watch in 2023
While tackling the energy trilemma, BP has been working on multiple projects and three of these are on track to start up next year.
All eyes on Russia’s fleet as crude oil price cap, OPEC+ cut perpetuate tanker markets’ volatility
Uncertainty and volatility continue to cast a shadow over the oil and tanker market as December 5 deadline for the oil price cap for Russian oil expires. Today, all eyes are set on Russia to see what vessels will be loaded and where they would head as Moscow defines its steps in response to the [&he
DeepOcean inks deal for potential use of autonomous vehicles for environmental studies
Norway’s DeepOcean and Akvaplan-niva, a subsidiary of the Norwegian Institute for Water Research (NIVA), have partnered up to cooperate on the potential use of remotely operated vehicles (ROVs) and unmanned glider vehicles (USVs) for environmental studies for offshore wind and oil & gas developments
Price cap on Russian crude oil comes into force while OPEC+ sticks to output cuts
A price cap for seaborne Russian crude oil is being imposed by the G7 and Australia while OPEC+ has decided to keep the status quo.