Business & Finance
While focusing on energy trilemma, BP more than doubles its profit
BP has delivered high profits in the third quarter of 2022 on a year-on-year basis, driven by natural gas trading and elevated energy prices.
ACWA Power enters floating solar sector
ACWA Power has signed a deal with Indonesia’s state-owned electricity utility PT Perusahaan Listrik Negara (Persero) to develop two floating solar projects in the world’s largest archipelagic state.
Subsea construction vessel trifecta for Solstad
Solstad Offshore has secured new contracts for three of its subsea construction vessels (CSVs) which have a combined time charter value of approximately NOK 1.6 billion (around €156.5 million). Havfram contracted Normand Vision for a period of three years firm, plus options for additional two years.
Shell wraps up sale of stake in deepwater gas-to-power project off Philippines
Shell has completed the sale of a 100 per cent shareholding in its subsidiary, which operates a gas field in the Philippines.
PanGeo Subsea marks record year in acoustic corer contracts
PanGeo Subsea, a subsidiary of Kraken Robotics, is nearing completion of its busiest year so far in terms of acoustic corer contracts, valued at over $8 million in 2022. Earlier this year, PanGeo won a $5 million contract in the U.S. to support an oil platform decommissioning survey and acquire 63 o
BP concludes the sale of its interest in Australian oil-producing fields
Jadestone Energy has acquired BP’s stake in a Woodside Energy-operated project, encompassing oil-producing fields offshore Australia.
MSC: CII methodology must be revised to avoid unintended penalizing of ships
MSC, the world’s largest ocean carrier by operated container vessel capacity, has backed the criticism of the impending carbon intensity indicator (CII) regulation amid fears that the methodology used might result in unintended consequences and penalization. Under the CII rating scheme, set to enter
MODEC to handle FEED work for ExxonMobil’s fifth Guyana project
MODEC has signed a contract to perform Front End Engineering and Design (FEED) for ExxonMobil’s FPSO for the Uaru project in Guyana.
Valaris expects Australian contract suspension to have no impact on earnings
Offshore drilling contractor Valaris has revealed that some more work has been awarded to its rigs but another contract has been suspended.
Fresh deepwater oil discovery off Brazil
Petrobras has made an oil discovery in a well located off Brazil and steps have been undertaken to measure the extent of this discovery.
ConocoPhillips signs up for QatarEnergy’s North Field South LNG expansion
Qatar’s state-owned oil and gas company QatarEnergy has selected the US energy giant ConocoPhillips as its third and final international partner in the North Field South (NFS) expansion project. The NFS project comprises two liquefied natural gas (LNG) mega trains with a combined capacity of 16 mill
With energy security in mind, ADNOC CEO calls for ‘maximum energy with minimium emissions’
Keeping the global energy crisis at the forefront, the CEO of ADNOC believes that the world needs all the energy solutions it can get.
Shell Brasil taps Helix for well decommissioning
Helix Energy Solutions has secured a deepwater well decommissioning contract with Shell Brasil in the Campos Basin. The scope of work includes plug and abandonment services on subsea wells located in the Bijupira and Salema fields. The project is scheduled to commence in early 2024 for a minimum fir
Subsea 7 wins ‘sizeable’ contract in Asia Pacific
Subsea 7 has secured a “sizeable” contract in the Asia Pacific region with an undisclosed client. Subsea7 defines a sizeable contract as being between $50 million and $50 million. Engineering work is set to commence immediately and offshore activity is scheduled for 2024 and 2025. The company did no