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Business & Finance

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McDermott's Batam facility
Business & Finance

McDermott says Qatar award is one of the largest single contracts in company history

McDermott has confirmed a recent contract award with QatarEnergy, saying it is one of the largest single contracts McDermott has been awarded in its company history. The structures will be fabricated in a facility with low-carbon or renewable power as part of McDermott’s sustainability commitments.

about 4 years ago
AD Ports
Business & Finance

AD Ports, EDB to support industrial players with financial solutions

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UAE-based port operator Abu Dhabi Ports (AD Ports) has signed a memorandum of understanding (MoU) with Emirates Development Bank (EDB) to support the industrial sector in the Emirates.

about 4 years ago
Eni
Business & Finance

Eni wins five new exploration licences in Egypt

Italian oil and gas company Eni has been awarded five new exploration licences by the Egyptian Ministry of Petroleum.

about 4 years ago
Liza Destiny FPSO - ExxonMobil
Business & Finance

After 2021 rebound, FPSO market to continue going strong in 2022, Rystad says

The market for FPSO units almost brushed off the pandemic’s effect in 2021 and is likely to continue apace in 2022, Rystad Energy says.

about 4 years ago
ADNOC
Business & Finance

ADNOC investing nearly $1 billion in long-term development of giant offshore field

UAE’s state-owned energy giant ADNOC will be investing nearly $1 billion in the long-term development of the Umm Shaif field.

about 4 years ago
Valaris 250 rig
Business & Finance

Valaris strikes new long-term deals with ARO Drilling

Offshore rig owner Valaris has been awarded new bareboat charter agreements with ARO Drilling for several jack-up rigs.

about 4 years ago
TeamSeas
Business & Finance

TeamSeas ocean-trash cleanup campaign raises $30M

TeamSeas reached its $30M goal in the final hours of New Year’s Day.

about 4 years ago
Suez Canal
Business & Finance

Suez Canal hits record $6.3bln revenue despite challenges in 2021

Suez Canal Authority (SCA) has achieved the highest annual revenue in its history of $6.3 billion and the largest annual net tonnage of 1.27 billion tons during 2021, the head of the SCA informed.

about 4 years ago
NPCC
Business & Finance

UAE’s NPCC lands $2.2 billion award with Saudi Aramco

Saudi oil and gas giant Saudi Aramco has awarded a contract for an offshore project to UAE’s NPCC worth around $2.2 billion.

about 4 years ago
orth Field off Qatar
Business & Finance

‘Momentous milestone’ for QatarEnergy as contract for North Field expansion goes to McDermott

QatarEnergy has awarded a major EPCI contract for the offshore scope of its North Field Expansion Project to McDermott.

about 4 years ago
AD Ports
Business & Finance

AD Ports bolstering shipping ties with China

UAE-based port operator Abu Dhabi Ports (AD Ports) has signed two agreements with China-based Shandong Port Group to establish the region’s first tyre hub and strengthen trade and shipping links.

about 4 years ago
Kites powered by offshore wind preparing for lift-off
Business & Finance

Kites powered by offshore wind preparing for lift-off

Tech startup Hydro Wind Energy is in the process of developing scaled prototypes of high-altitude kites powered by offshore wind with the goal to ”disrupt global energy and desalination markets”. The technologies for power generation and energy storage, OceanHydro Wind, and water desalination, SubSe

about 4 years ago
Middle East
Business & Finance

Middle East facing uphill battle to meet net-zero, S&P Global Platts says

S&P Global Platts Analytics expects the Middle East to struggle to reach net-zero targets as emissions from oil & gas are expected to rise.

about 4 years ago
Carbon capture & sequestration market to reach $7 billion by 2028 bolstered by increased investments in carbon removal, Fortune Business Insight says
Business & Finance

CCS market to reach $7 bln by 2028 bolstered by increased investments, Fortune Business Insight says

Fortune Business Insights expects the CCS market to grow to $7 bln by 2028 aided by rising investments in the energy transition initiatives.

about 4 years ago