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Market Outlooks

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Hunting strengthens its subsea arsenal with new acquisition
Market Outlooks

Hunting strengthens its subsea arsenal with new acquisition

London-headquartered energy services provider Hunting has acquired compatriot Flexible Engineered Solutions (FES), a move made to strengthen its subsea growth and support the company’s 2030 ambitions. FES is based in Ashington and is focused on the design, manufacture, and testing of highly engineer

about 8 months ago
Four tidal energy projects secure contracts in UK’s record CfD auction
Market Outlooks

Four tidal energy projects secure contracts in UK’s record CfD auction

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The UK government has awarded a record 14.7 GW of renewable energy capacity in the Contracts for Difference (CfD) Allocation Round 7 (AR7), its largest CfD round ever in capacity, with tidal stream securing 20.9 MW across four projects. On January 14, the UK government announced the award of 8.4 GW

about 8 months ago
Saudi ACWA Power seals 27 deals for green hydrogen and other technologies
Market Outlooks

Saudi ACWA Power seals 27 deals for green hydrogen and other technologies

ACWA Power, a Saudi Arabian developer, investor and operator of power generation, water desalination, and green hydrogen plants, has signed 27 memorandums of understanding (MoUs) at a recent three-day event to advance green hydrogen, desalination technologies, energy storage systems, and industrial

about 8 months ago
Swedish tidal energy developer makes move into Iceland
Market Outlooks

Swedish tidal energy developer makes move into Iceland

Swedish tidal energy developer Minesto has signed a memorandum of understanding (MoU) with Haf-Afl, an Iceland-based ocean energy site developer specializing in the identification, assessment and development of marine energy projects, to pursue entry into the Icelandic market. ”This is a textbook ex

about 8 months ago
FPSO Fast4Ward design; Source: SBM Offshore
Market Outlooks

Exclusive interview with SBM Offshore: South America anchors business growth, as West Africa emerges on FPSO horizon

SBM Offshore is keeping Brazil and Guyana as the core hub of its FPSO activity, while eyeing new opportunities in West Africa.

about 8 months ago
North Sea countries to ink pact with offshore wind industry, TSOs
Market Outlooks

North Sea countries to ink pact with offshore wind industry, TSOs

Government officials from Belgium, Denmark, France, Germany, Ireland, Luxembourg, the Netherlands, Norway and the UK are set to sign a declaration confirming the ambition to build 300 GW of offshore wind in the North Seas by 2050, and an investment pact with the offshore wind industry and transmissi

about 9 months ago
Aker Solutions cuts workforce and capacity due to lower activity outlook
Market Outlooks

Aker Solutions cuts workforce and capacity due to lower activity outlook

Norwegian energy services provider Aker Solutions is set to make workforce and capacity cuts as a response to an anticipated decrease in activity levels this year. After several years of record-high workload, Aker Solutions announced yesterday, January 7, that it expects activity levels to decrease

about 9 months ago
Illustration; Source: Rystad Energy
Market Outlooks

Energy outlook: 12 trends set to shape 2026 power spectrum

With market volatility, geopolitics, and policy repercussions expected to be among the key drivers affecting the global energy landscape, Rystad Energy, an energy market intelligence group, has outlined 12 predictions for the year ahead, noting opportunities and challenges that will unfold alongside

about 9 months ago
Illustration; Source: Westwood
Market Outlooks

Downturn in high-impact exploration: Is revival of oil & gas drilling appetite on the cards?

Given that the number of players engaged in high-impact (HI) oil and gas exploration operations has been cut in half since 2014, Westwood Global Energy, an energy market research and consultancy firm, has warned about the uncertainty surrounding new hydrocarbon search attempts, while emphasizing the

about 9 months ago
Illustration: Source: Wood Mackenzie
Market Outlooks

Investment shift from low carbon toward upstream to continue in 2026

After the portfolio recalibrations and restructuring marked the oil and gas industry’s landscape in 2025, Wood Mackenzie, an energy intelligence group, has outlined that the trend will continue in 2026, with oil and gas corporates expected to face “an even tougher strategic balancing act” this year.

about 9 months ago
Offshore Energy Recap 2024
Market Outlooks

Readers’ choice: Offshore Energy’s most-read news in 2025

As the offshore energy sector continued to navigate the energy transition and technological development, but also uncertainty, 2025 saw continued shifts in policy, investment, and project development across the global energy landscape. To mark the year’s end, the Offshore Energy editorial team looks

about 9 months ago
Wave and tidal energy to reach $1.85B by 2032, commercial deployment by 2031, report finds
Market Outlooks

Wave and tidal energy to reach $1.85B by 2032, commercial deployment by 2031, report finds

The wave and tidal energy market is projected to grow to $1.85 billion by 2032, with ocean-based renewable power expected to move beyond pilot installations and enter early commercial deployment by 2031, according to a report by market research firm DataM Intelligence. The global wave and tidal ener

about 10 months ago
€30 million EU project launches to push UK wave energy
Market Outlooks

€30 million EU project launches to push UK wave energy

A consortium of six companies has launched a project aimed at addressing the competitiveness and bankability of wave energy farms by validating the technology in conditions required for large-scale deployment in UK waters. The consortium includes European Marine Energy Centre (EMEC), The University

about 10 months ago
Illustration; Source: NKT
Market Outlooks

UK underwater market hits £9.4 billion: Project delays place offshore energy supply chain at risk

Global Underwater Hub (GUH), the trade and development body representing the UK’s multibillion-dollar subsea sector, has undertaken a new study for the nation’s underwater sectors, which emphasizes that frequent delays to offshore energy and infrastructure projects threaten the viability of Great Br

about 11 months ago