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carbon capture
Business Developments & Projects

Decarbonizing vessels that cannot yet switch to green fuels: Carbon capture first for MOL LR1 tanker

Dutch cleantech company Value Maritime (VM) has installed its exhaust gas cleaning system (EGCS) and carbon capture unit aboard Nexus Victoria, an LR1 product tanker owned by Japanese shipping major Mitsui O.S.K. Lines (MOL).

about 1 year ago
Singapore’s first maritime digital twin launched
Business Developments & Projects

Singapore’s first maritime digital twin launched

The Maritime and Port Authority of Singapore (MPA), in partnership with the Government Technology Agency of Singapore (GovTech), has developed Singapore’s first Maritime Digital Twin.

about 1 year ago
Sea Lion FPSO and Phase 1 & 2 development layout; Source: Navitas
Business & Finance

Falkland Islands’ $1.4. billion oil project remains on track for FID in mid-2025

Israel’s Navitas Petroleum is still anticipating a final investment decision (FID) for Phase 1 of its giant oil project in the North Falkland Basin (NFB) mid-year.

about 1 year ago
MOPU Tchatamba-A and FSO Madiela at the Tchatamba Marine-1 field approximately 100 miles southwest of Port Gentil in the Gulf of Guinea; Source: MODEC
Business & Finance

Tullow Oil parting ways with oil assets in Gabon for $300 million

Tullow Oil, an independent energy company with operations in West Africa, has inked binding heads of terms agreement for a $300 million net of tax sale of Gabon assets to Gabon Oil Company.

about 1 year ago
BAR Technologies
Market Outlooks

BAR Technologies: Future fuel mix needs to include wind

UK-based wind propulsion provider BAR Technologies has called for a broader, more inclusive debate on the future of shipping fuels, highlighting that wind is an indispensable component of these discussions.

about 1 year ago
Safe Caledonia; Credit: Prosafe
Business & Finance

Busy times ahead for Prosafe with one vessel ongoing reactivation as another preps for relocation

Prosafe has shed more light on the recent activities of its fleet, confirming the sale of one vessel, the start of reactivation operations for another, and preparations for the move to Australia for the third while the rest of its ships keep working on their current assignments and one continues to

about 1 year ago
Proteus Marine Renewables (PMR) has joined the American Tidal Energy Project to help unlock Alaska’s tidal power potential, with the project receiving $3 million in U.S. Department of Energy (U.S. DOE
Authorities & Government

ORPC files draft license for Alaska tidal energy project

U.S.-based Ocean Renewable Power Company (ORPC) has submitted a draft pilot license application to the Federal Energy Regulatory Commission (FERC) for its East Foreland Tidal Energy Project in Cook Inlet, Alaska. The site has been identified as having the highest tidal energy potential in the U.S. B

about 1 year ago
Fugro's survey vessel runs aground in Italy
Business & Finance

Fugro’s survey vessel runs aground in Italy amidst deteriorating weather

A 42-meter-long geophysical survey vessel owned by Dutch Fugro ran aground in Italy two days ago while performing survey work. Fugro announced that its geophysical survey vessel Fugro Mercator had run aground on March 22 on the north coast of Elba, Italy, when it went looking for shelter due to dete

about 1 year ago
Terntank’s wind/methanol-ready hybrid tanker duo named in China
Business Developments & Projects

Terntank’s wind/methanol-ready hybrid tanker duo named in China

Swedish shipping company Terntank has named the first two wind/methanol-ready tankers in its Hybrid Solution Plus series.

about 1 year ago
Illustration; Source: Shell
Business & Finance

Shell’s deepwater project offshore Brazil is a go with first Gato do Mato gas due in 2029

Shell has taken a final investment decision (FID) for its deepwater development project in the pre-salt area of the Santos Basin off the coast of Brazil.

about 1 year ago
Shah Deniz Alpha platform; Source: BP
Business & Finance

BP rakes in $1 billion from sale of partial stake in pipeline carrying gas from field off Azerbaijan

BP has struck a deal with Apollo-managed funds to divest a minor non-controlling stake in BP Pipelines (TANAP), the firm’s subsidiary that holds its 12% interest in owner and operator of the pipeline that carries natural gas from a giant offshore field in Azerbaijan across Türkiye.

about 1 year ago
Deepsea Mira rig works for TotalEnergies off the coast of Namibia; Source: Odfjell Drilling
Authorities & Government

Namibia sets the stage for new offshore oil & gas licensing round and drilling plays

As multiple drilling campaigns are poised to shape Africa’s energy future this year, the African Energy Chamber (AEC), which serves as the voice of the energy sector in Africa, has opted to shine a light on the offshore oil and gas drilling programs and licensing opportunities in Namibia.

about 1 year ago
Odfjell Technology to help grow digital pipe tech through investment in Norwegian company
Business & Finance

Digital pipe technology in spotlight of Odfjell Technology’s investment in Norwegian firm

The UK’s Odfjell Technology, a spin-off of Odfjell Drilling, has purchased a 10% stake in a Norwegian well construction and well intervention solutions provider, supporting the firm’s digital pipe technology. Odfjell Technology made a strategic equity investment in Reelwell, purchasing a 10% stake i

about 1 year ago
Seabed preparation work coming up at Inch Cape offshore wind farm site
Business Developments & Projects

Seabed preparation work coming up at Inch Cape offshore wind farm site

Seabed preparation activities are scheduled to begin at the Inch Cape offshore wind farm site in Scotland at the end of March. N-Sea, which has been contracted for the job, will start the work within the array site and the export cable corridor on or around March 30 and continue until November 2025.

about 1 year ago
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