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Business & Finance

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DEME's new offshore construction vessel to be built in China, delivery in 2028
Business & Finance

DEME’s new offshore construction vessel to be built in China, delivery in 2028

DEME Group has ordered a new offshore construction vessel (OCV) that will be capable of performing trenching, burial, and cable-laying operations and is set to have a methanol-ready propulsion design for future fuel flexibility. The OCV will be constructed by PaxOcean at the Zhoushan shipyard in Chi

about 1 year ago
Buzzard oil and gas field in the UK North Sea; Source: CNOOC Petroleum Europe
Business & Finance
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UK workers’ strike threat pays off: 130-strong North Sea crew endorses pay boost with CNOOC

With the wage growth mission spreading its wings across North Sea platforms, offshore workers have increasingly turned to potential industrial action pursuits to get better pay deals in the UK’s offshore energy sector, as illustrated by the latest wage win secured by workers employed on assets opera

about 1 year ago
UK
Business & Finance

ABP-backed collaboration wins UK government funding for green methanol project

TURBO-METH, a green methanol production technology project backed by the UK’s port operator Associated British Ports (ABP), has secured funding as part of the UK Department for Transport’s Clean Maritime Demonstration Competition (CMDC) 6.

about 1 year ago
Dunkerque LNG terminal in Dunkirk, France; Courtesy of Fluxys
Business & Finance

Spain-headquartered Asterion comes on board France’s largest LNG terminal

On a European footprint expansion quest, Madrid-headquartered Asterion Industrial Partners, an investment management firm, has enlarged its energy portfolio with the acquisition of an interest in a liquefied natural gas (LNG) terminal, described as not only France’s largest LNG receiving and regasif

about 1 year ago
Prysmian completes cable laying for Spanish interconnection
Business & Finance

Prysmian connects two Canary Islands with submarine cables

Italian cabling giant Prysmian Group has finished laying the submarine cable for the interconnection between Tenerife and La Gomera in Spain, with the entire infrastructure expected to be completed by the end of this year. The interconnection consists of a 66 kV double-circuit line, with a 36-kilome

about 1 year ago
HyOrc and Start forge joint venture to build green methanol network in Portugal
Business & Finance

HyOrc and Start forge joint venture to build green methanol network in Portugal

HyOrc has signed a definitive joint venture (JV) agreement with Start to co-develop and operate a network of green methanol plants in Portugal.

about 1 year ago
Wärtsilä
Business & Finance

Wärtsilä’s 15-year deal fortifying operational reliability of Chinese firm’s LNG vessel trio

Wärtsilä has won a multi-year lifecycle agreement for three liquefied natural gas (LNG) carriers with China LNG Shipping (International) Co. Ltd. (CLSICO), which is perceived to be designed to ensure operational reliability, enable flexibility in maintenance scheduling, and optimize the time between

about 1 year ago
Meridian purpose-built FPSO hull design; Courtesy of Yinson Production
Business & Finance

Deepwater frontiers calling: Yinson Production’s FPSO hull design with low-carbon kit wins DNV’s blessing

Malaysia’s Yinson Production, a subsidiary of Kuala Lumpur-based energy infrastructure and technology company Yinson, has unveiled a purpose-built floating production storage and offloading (FPSO) hull design, which has secured main scantling approval (MSA) from DNV, a Norwegian classification socie

about 1 year ago
Keel laid for second Island Offshore hybrid ocean energy construction vessel
Business & Finance

Keel laid for second Island Offshore hybrid ocean energy construction vessel

Norwegian shipbuilder VARD has held the keel laying ceremony for the second hybrid power ocean energy construction vessel (OECV) it is building for compatriot shipping group Island Offshore. The vessel, marked NB 978, is being built at Vard Shipyards Romania – Tulcea and is the sister ship of NB 977

about 1 year ago
BW Energy
Business & Finance

BW Energy makes changes to its executive management team

Oslo-listed oil and gas E&P player BW Energy has revealed the names of its Chief Operating Officer (COO) and Chief Financial Officer (CFO).

about 1 year ago
Auctioneer selected for cross-border transmission capacity of first UK-Germany energy link
Business & Finance

NeuConnect: Auctioneer selected for cross-border transmission capacity

As part of plans for preparations for the start of commercial and market operations, Joint Allocation Office (JAO) has been appointed as the provider for auctioning cross-border transmission capacity for the NeuConnect high-voltage submarine cable that will create the first direct energy transmissio

about 1 year ago
Cygnus Alpha; Source: Neptune Energy, which became part of Eni's UK portfolio now managed by Ithaca
Business & Finance

North Sea operator raising €450M to fund boost in UK gas field and growth opportunities

Ithaca Energy, a North Sea oil and gas operator and producer, has disclosed pricing of its senior notes offering and the extension of its reserves based lending (RBL) facility, which is expected to fuel the firm’s acquisition of an additional stake in a gas field in UK waters and optimize financial

about 1 year ago
Japanese shipowner buys into wind-assisted propulsion developer Econowind
Business & Finance

Japanese shipowner buys into wind-assisted propulsion developer Econowind

Amid the shipping industry’s growing interest in fuel-neutral technologies, Japanese shipowner Nissen Kaiun has taken a stake in Dutch wind-assisted propulsion system developer Econowind.

about 1 year ago
New Prysmian cable layer closer to launch as hull comes together
Business & Finance

New Prysmian cable layer closer to launch as hull comes together

Italian cabling giant Prysmian Group has completed the hull erection of its new cable laying vessel (CLV), bringing it closer to launch. The DP3 Alessandro Volta will be equipped with three carousels for a total load capacity of 19,000 tons, with the system of tensioners able to sustain a maximum te

about 1 year ago