Business & Finance
Russia halts Nord Stream 1 gas supply to Europe again ‘due to maintenance’
State-owned Russian gas company Gazprom has again shut off the Nord Stream 1 pipeline that supplies Europe with gas due to maintenance. Nord Stream 1 has been running at reduced capacity following a ten-day shutdown in July and in the past month, the flow was at approximately 20% of normal capacity.
Spud date for Black Sea campaign postponed while rig undergoes repairs
The start of Trillion’s 2022 – 2023 drilling campaign on a gas field in the Black Sea has been delayed until rig repairs are completed.
Blue World Technologies ready to scale up methanol fuel cell tech for maritime sector
The Bill Gates-founded investment fund Breakthrough Energy Ventures (BEV) has entered as an investor in Danish fuel cell company Blue World Technologies alongside Vaekstfonden, DEUTZ AG, and existing investors who invested back in December 2021 to complete the company’s €37 million series B round.
Ocean Sun boosts half-year revenues
Norwegian floating solar company Ocean Sun has reported an increase in revenues for the first half of the fiscal year 2022, as opposed to the same period a year earlier.
Baker Hughes unveils new cost-reducing fast electric tiebacks solution
Baker Hughes has launched a new fast all-electric tiebacks solution, said to reduce capital expenditure costs by 15% compared to traditional electro-hydraulic multiplexed systems. According to Baker Hughes, the system drives cost efficiencies through optimized architecture and reduced topside footpr
Australia needs to strike a balance between net-zero targets and energy security, says WoodMac
The Australian energy crisis highlights the challenge of finding the balance between energy security and net-zero goals, says Wood Mackenzie.
Partners exploring options for renewable energy hub at Corrib gas field
Vermilion Energy and Nephin Energy are looking into the feasibility of a renewable energy hub at the existing Corrib gas field offshore Ireland.
MeyGen clears first CfD hurdle for extra 28MW of tidal power
SIMEC Atlantis Energy, the developer behind the MeyGen tidal power scheme, has achieved the first contractual milestone for the delivery of additional 28MW of tidal power capacity for the project as part of the UK’s fourth contracts for difference round.
Equinor hires Wood for subsea pipeline design
Wood has won a contract with Equinor to deliver the detailed design of subsea pipelines for the Halten East development offshore Norway. Wood’s subsea and pipeline engineering team in Norway will carry out the scope, following the delivery of the concept design and front-end engineering design. The
Helix extends charter for ultra-light intervention vessel
Helix Robotics Solutions has extended its charter agreement with Bordelon Marine for the DP2 Jones Act-compliant ultra-light intervention vessel (ULIV) Shelia Bordelon through June 2024. Helix currently operates the vessel primarily to support offshore renewables and inspection, repair & maintenance
Support for fossil fuels passed $697 bln in 2021, delaying energy transition progress, says OECD and IEA
The IEA and the OECD outline in their new analysis that the backing for fossil fuels almost doubled in 2021, reaching $697.2 billion.
Petrel Explorer changes hands
Green Energy Group (SeaBird Exploration) has completed the sale of its seismic research vessel Petrel Explorer. The transaction was completed on 29 August and Green Energy Group has handed over the vessel to the new owner. The sale, to an undisclosed buyer, will see the vessel leave the offshore ind
Two firms to pool resources for large-scale industrial CCS project
Neptune Energy has joined forces with Horisont Energi for the development of a large-scale carbon capture and storage project in Norway.
Mocean Energy strengthens board with two key appointments
Mocean Energy has appointed a former oil and gas executive, and a climate change expert to its board to help commercialize its Blue Star wave energy device and raise investment.