Shell has decided to write down $400 million, citing technical and geological difficulties encountered at the petroleum exploration license (PEL) 39, as its oil discovery in the Orange Basin off the coast of Namibia cannot be confirmed for commercial development at this point.
The UAE-headquartered logistics heavyweight DP World has passed a “momentous” milestone, having surpassed 100 million TEUs of container handling capacity across its global portfolio since its inception. As disclosed, over the past ten years, DP World has invested over $11 billion in strategic invest
From a purely technical perspective, it would be already possible today to allow inland waterway vessels to travel across rivers unmanned and remotely controlled. However, as there are still many legal hurdles standing in the way of the everyday use of such ships, German insurers have called on the
Shell, and its partner, Chevron, have boosted their oil and gas arsenal in the U.S. Gulf of Mexico by starting production from a deepwater project more than seven years after the original hydrocarbon discovery.
Described as the maritime industry’s “exceptional newbuilding year”, 2024 yielded a record number of LNG-fueled ship deliveries, according to the latest data from DNV’s AFI platform.
Ireland-based XOCEAN has secured €115 million in funding to support the growth in the offshore energy and civil hydrography sectors. The Irish ocean data company closed the financing round with support from S2G Ventures, Climate Investment (CI), Morgan Stanley’s 1GT fund, and CC Industries (CCI), a
U.S. President-elect Donald Trump has vowed to undo the offshore drilling ban, sparking a backlash from climate activists, who threaten to take the new Trump administration to court if it attempts to unravel these ocean protections.
ADNOC Gas, a subsidiary of Abu Dhabi National Oil Company (ADNOC), has awarded three contracts related to the construction of infrastructure at its future liquefied natural gas (LNG) complex in Al Ruwais Industrial City, Abu Dhabi. The contracts with a combined value of $2.1 billion encompass works
Dutch shipping company Pot Scheepvaart has ordered another 6,340 dwt multipurpose ship at compatriot shipyard Royal Bodewes.
Human touch has taken its toll on the delicate North Sea ecosystem. With the growing pressure of climate change and demand for sustainable energy and food, this ecosystem keeps deteriorating. Preventing or preserving the North Sea now has an exclamation point. As a response, the Dutch Ministry of Ag
The U.S. Department of Energy’s (DOE) Water Power Technologies Office (WPTO) has allocated $800,000 for eight projects designed to advance hydropower and marine energy innovation across the U.S. to foster entrepreneurship, streamline commercialization, and support small business growth in the water
Gate Energy has struck a new commissioning management and execution deal with Shell Offshore, a subsidiary of the UK-headquartered energy giant Shell, for a semi-submersible floating production unit (FPU) destined for a deepwater development in the U.S. Gulf of Mexico.
The Indian Minister of Ports, Shipping & Waterways Sarbananda Sonowal has unveiled two major infrastructure projects worth ₹570 billion (about $6.6 billion) aimed at enhancing the capacity of Kandla Port in Gujarat, a state on the west coast of India. As disclosed, the initiative encompasses a ₹300
Subsea7 has secured a contract with Norway’s state-owned energy company Equinor to deliver a study that will finalize the technical definition of the proposed subsea development at a field off Norway before the final investment decision (FID) is reached. Subsea 7 has been appointed to deliver a fron
