Business & Finance
SAFEEN Feeders, Invictus Investment to spend $126 mln on acquisition of five bulkers
AD Ports Group’s SAFEEN Feeders has signed an agreement with Invictus Investment to launch a new international dry bulk shipping service for which they plan to buy five bulkers. The two companies plan to purchase ships through special purpose vehicles, owned 85% by SAFEEN Feeders and 15% by Invictus
Equinor all set to kick off drilling ops in Norwegian Sea with Odfjell rig
Equinor has received consent from Norway’s regulator for exploration drilling in the Norwegian Sea, using one of Odfjell Drilling’s rigs.
WES awards contract for floating wind and wave energy landscaping study
Wave Energy Scotland (WES) has hired Offshore Wind Consultants (OWC) to carry out a study into the techno-economic benefits of shared services and infrastructure for wind and wave energy technologies and projects.
U.S. player gets green light for Equatorial Guinea project with first oil slated for 2026
Vaalco Energy has received approval for its plan of development (POD) for a discovery located on Block P in Equatorial Guinea.
Solstad CSV cuts fuel consumption by quarter after upgrade
Solstad Offshore’s construction support vessel (CSV) Normand Ocean is saving more than 25% fuel since the installation of a battery and shore power system. Investing in battery hybrid systems for its vessels is one of Solstad’s measures taken to achieve the target of 50% emission reduction by 2030,
U.S. DOE opens $7 billion funding program for regional clean hydrogen hubs
The U.S. Department of Energy (DOE) has opened applications for the $7 billion program to create regional clean hydrogen hubs (H2Hubs) across the country, as part of a larger $8 billion hydrogen hub program funded through President Biden’s Bipartisan Infrastructure Law. The H2Hubs program is launche
As first gas flows from Malaysian project, Hess tucks ‘major milestone’ under its belt
Hess has achieved the first gas from Phase 3 project located in Block PM302, 290 kilometres offshore Peninsular Malaysia.
‘Historic call’ for international mechanism to phase out fossil fuels and speed up ‘just transition’
At a recent UN General Assembly, Vanuatu called for a treaty to end the fossil fuel era and accelerate a transition to low-carbon energy.
Poland strengthening its energy security via 10-year gas sales contract with Norway
Norwegian state-owned energy giant Equinor on Friday announced a long-term gas sales agreement with Poland’s PGNiG.
Oil & gas player sanctions North Sea project and hires Maersk rig for drilling ops
Ineos and its partners have made a final investment decision (FID) on the development of an oil and gas project in the Danish North Sea.
Port of Argentia forms JV with Torrent Capital targetting infrastructure investments
Newfoundland-based Port of Argentia and Torrent Capital have set up a joint venture company, Argentia Capital Inc, which will focus on the construction of port infrastructure, and investments in upcoming renewables and oil and gas projects. The establishment of the joint venture comes ahead of a hos
Simply Blue, Irving Oil to jointly explore opportunities for renewable energy hub in Ireland
Simply Blue Group and Irving Oil have signed a Memorandum of Understanding (MoU) to explore opportunities related to the development of an integrated renewable energy hub at the Irving Oil Whitegate Refinery in Ireland. The Whitegate Refinery is the country’s only refinery and a critical part of the
Financial close in place for $3.8 billion decarbonization project in UAE
Abu Dhabi National Oil Company (ADNOC) and Abu Dhabi National Energy Company PJSC (TAQA) have completed the financial closing of what is said to be the first-of-its-kind subsea transmission network in the MENA region. The $3.8 billion strategic project is set to power and significantly decarbonize A
OMV to drill sidetrack and perform well test after confirming gas and condensate in North Sea well
OMV has confirmed a gas-condensate discovery at its Oswig exploration well located in the North Sea and decided to drill a sidetrack well.