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Outlook & Strategy

Navigating the new normal: Vessel rerouting spurs higher emissions as ships avoid the Red Sea

In recent weeks, the Red Sea has become the epicenter of heightened tensions as Yemen’s Houthi group escalated their attacks on commercial vessels, sending shockwaves throughout the maritime industry. Germany’s Hapag-Lloyd and Hong Kong’s OOCL joined on Thursday numerous shipping companies, includin

about 2 years ago

Outlook & Strategy

EnQuest sells 15% interest in UK field and FPSO

EnQuest has reached an agreement with Viaro Energy for the sale of a 15% working interest in a North Sea field and floating production, storage and offloading vessel (FPSO). EnQuest reported it had reached an agreement with Viaro Energy’s subsidiary RockRose UKCS 10 today, December 22, to sell a 15%

about 2 years ago

Outlook & Strategy

NFE welcomes Energos Celsius FSRU for work at Barcarena LNG terminal

Singapore’s Seatrium has delivered the floating storage and regasification unit (FSRU) Energos Celsius to U.S. energy infrastructure company New Fortress Energy (NFE) for deployment at NFE’s completed LNG terminal in Barcarena, Brazil. This is Seatrium’s fourth FSRU project for Brazil, for which the

about 2 years ago

Outlook & Strategy

Reprocessed seismic data reveals ‘promising chapter’ for Black Sea gas field

Canadian oil and gas player Trillion Energy has completed 3D seismic reprocessing for a natural gas field in the Black Sea off Türkiye which is said to have shown significant implications for exploration potential. 3D seismic reprocessing has been completed for the SASB gas field and Trillion Energy

about 2 years ago

Outlook & Strategy

OSG wins $400K DOE backing to study Tampa’s carbon hub development

U.S.-based tanker owner Overseas Shipholding Group (OSG) has obtained a $400,000 grant from the United States Department of Energy (DOE) to study the development of its proposed Tampa Regional Intermodal Carbon Hub (T-RICH). The study is intended to evaluate the commercial feasibility of developing

about 2 years ago

Outlook & Strategy

Strohm Manager: Reusing existing pipelines for offshore hydrogen is the best solution, but…

Reusing existing pipelines for offshore hydrogen is the best solution that can be used, however, this does come with certain challenges, according to Bart Steuten, Product Development Manager at Strohm, Dutch thermoplastic composite pipe (TCP) producer. During Strohm’s presentation at The Stage at t

about 2 years ago

Outlook & Strategy

Equinor exits Azerbaijan

Equinor has signed an agreement with State Oil Company of Azerbaijan Republic (SOCAR) to divest all its remaining assets in Azerbaijan where it has been present since 1992. The assets comprise a 7.27% non-operated interest in the Azeri Chirag Gunashli (ACG) oil fields in the Azerbaijan sector of the

about 2 years ago

Outlook & Strategy

Liquid Wind applies for environmental permit for third eFuel plant in Sweden

Swedish electrofuel (eFuel) developer Liquid Wind has submitted an environmental permit application for the company’s third commercial-scale green electrofuel facility, FlagshipTHREE, at the Land and Environment Court in Umeå, Sweden. According to Liquid Wind, once operational, FlagshipTHREE, locate

about 2 years ago

Outlook & Strategy

Capital Product Partners seals $3.1 billion acquisition of 11 LNG carriers amid strategic transformation

After its recently announced pivot towards the LNG shipping sector, New York-listed shipowner Capital Product Partners L.P. has closed the umbrella agreement initiated last November, paving the way for the acquisition of 11 newbuild liquefied natural gas carrier vessels. As reported by Offshore Ener

about 2 years ago

Outlook & Strategy

SEFE and Equinor forge gas and hydrogen ties

German Securing Energy for Europe (SEFE) and Norway’s energy major Equinor have signed a long-term gas sales agreement, as well as a non-binding letter of intent (LoI) on large-scale hydrogen supplies. Under the gas sales agreement, Equinor will supply SEFE with 111 TWh (circa 10 bcm) of natural gas

about 2 years ago

Enauta buys two Petrobras Santos Basin fields and associated infrastructure

Outlook & Strategy

Enauta buys two Petrobras fields and associated infrastructure

Brazilian oil and gas player Enauta has signed a contract with compatriot oil and gas giant Petrobras for the acquisition of oil and gas fields in the Santos Basin off Brazil and natural gas pipeline infrastructure. The company is also set to acquire the FPSO operating in the fields. Enauta is acqui

about 2 years ago

Outlook & Strategy

Meeting IMO’s 2030 targets not out of grasp?

Despite the challenges that defined this year, the maritime industry may be closing the chapter on 2023 with a sense of optimism. Namely, BIMCO’s recent analysis provides a beacon of hope, suggesting that the International Maritime Organization’s (IMO) ambitious goal of achieving 5% zero or near-zer

about 2 years ago

Outlook & Strategy

Vertical lay-up machine ordered for Taiwan’s first subsea power cable factory

Norway’s PASSER Group has secured a contract to deliver a vertical lay-up machine (VLM) for the first-ever subsea power cable factory in Taiwan. PASSER Products announced it had been awarded the contract for the delivery of the VLM to the new factory in Kaohsiung. The factory, which will specialize

about 2 years ago

Deployment approaching for Carnegie's MoorPower demonstration project

Outlook & Strategy

Carnegie’s MoorPower demonstration project approaches deployment

Carnegie Clean Energy is carrying out final preparations for the deployment of the MoorPower demonstration project, whose aim is to introduce a CETO-derived wave energy product for the aquaculture sector. Carnegie’s CETO-derived MoorPower technology is designed to deliver sustainable energy supply f

about 2 years ago