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Business Developments & Projects

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Business Developments & Projects

Hafnia orders eight ‘fuel-efficient’ tankers from South Korean shipyard

Singapore-based tanker owner Hafnia has placed an order for the construction of eight fuel-efficient product tankers with the South Korean shipbuilder Hyundai Heavy Industries. The total purchase price for the medium-range (MR) newbuild product tankers is approximately $405 million, with deliveries

about 5 months ago

Elba LNG terminal; Source: Kinder Morgan

Business Developments & Projects

Green light for more US LNG to non-free trade agreement countries

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Southern LNG Company, a subsidiary of the North American energy infrastructure player Kinder Morgan, has received the go-ahead for additional exports of liquefied natural gas (LNG) from a terminal in Chatham County, Georgia.

about 5 months ago

Chevron-operated Leviathan gas asset; Source: NewMed Energy

Business Developments & Projects

Mediterranean gas field back online after shutdown due to regional safety woes

Chevron Mediterranean Limited (CML), a subsidiary of U.S.-headquartered Chevron, and its partners have resumed gas production from a giant natural gas project off the coast of Israel.

about 5 months ago

Business Developments & Projects

New player enters underwater robotics market with AUV prototype

ZenaTech, a Canadian technology company specializing in AI drone, drone as a service (DaaS), enterprise SaaS and quantum computing solutions, has entered the underwater robotics market with the development of an autonomous underwater vehicle (AUV) prototype. ZenaTech reported on March 31 that its Ze

about 5 months ago

Business Developments & Projects

Vietnam’s REE unveils investment plan for offshore wind, floating solar

Vietnam’s Refrigeration Electrical Engineering Corporation (REE) is planning a billion-US-dollar push into offshore wind and floating solar as part of its renewable energy expansion strategy, according to Vietnamese media. At its 31 March 2026 annual general meeting, REE outlined plans to significan

about 5 months ago

Business Developments & Projects

Rig gigs with Petrobras bring Constellation $1.1 billion in additional backlog

Constellation Oil Services, a Brazilian drilling contractor, has augmented its contract backlog thanks to extensions of drilling assignments for three rigs with Brazil’s state-owned energy giant Petrobras.

about 5 months ago

Business Developments & Projects

27-year-old FPSO ends its final voyage at European ship recycling facility

A floating production, storage, and offloading (FPSO) unit has reached its final destination in Europe, where it will be recycled at Modern American Recycling Services (MARS) in Denmark.

about 5 months ago

Business Developments & Projects

6% of Welsh people think renewable energy development should decrease, research shows

New research by RenewableUK Cymru has found that 71% of Welsh people believe renewable energy development should increase, with just 6% saying it should decrease, and 58% want Wales’s future energy system to be mainly or entirely based on renewable energy. New polling published by RenewableUK Cymru

about 5 months ago

Ran jack-up rig; Source: FOSS & ESG; Credit: Borr Drilling

Business Developments & Projects

Borr Drilling’s rig quartet lines up work in four corners of the world

Borr Drilling, an offshore drilling player with its corporate base in Bermuda, has landed new drilling assignments for multiple premium jack-up rigs, spanning four continents: Africa, Asia, Europe, and the Americas.

about 5 months ago

Noble Globetrotter I drillship; Source: Noble

Business Developments & Projects

No ‘significant’ gas volumes in Black Sea exploration well

OMV Offshore Bulgaria, an affiliate of Southeastern Europe’s integrated energy player OMV Petrom, NewMed Energy Balkan, a subsidiary of Israel’s NewMed Energy, and Bulgarian Energy Holding EA have drilled a second exploration well in the Black Sea off the coast of Bulgaria.

about 5 months ago

Business Developments & Projects

US portrays offshore leasing and planning as ‘critical’ to historic oil output highs

The U.S. Department of the Interior’s Bureau of Ocean Energy Management (BOEM) has spotlighted the role offshore leasing and planning play in driving record oil production on the U.S. Outer Continental Shelf (OCS).

about 5 months ago

Business Developments & Projects

Trio picks up new production sharing contract in Peninsular Malaysia

A new production sharing contract (PSC) for an asset off the coast of Malaysia has been awarded to Medco Asia Pacific, a wholly-owned subsidiary of Indonesia’s PT Medco Energi Internasional (MedcoEnergi), Dialog Resources, and EnQuest Petroleum Production Malaysia, a subsidiary of London Stock Excha

about 5 months ago

Business Developments & Projects

First Malta-Italy interconnector back in service after works on second link demanded shutdown

The first interconnector between Italy and Malta has returned to operation after it was shut down due to work on the second interconnector that will connect the two countries. As announced on March 28, the scheduled intervention required the temporary suspension of IC1 to allow for the safe reroutin

about 5 months ago

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Business Developments & Projects

Proving radar-based wave and vessel motion prediction in real offshore conditions

Sea state measurement is not a new concept. From initial visual observations of the surface of the sea to the Beaufort scale devised in the 1800s, vessel owners – whether once conquerors of the seas or modern-day freight giants – have always sought data on conditions to ensure that operations at sea

about 5 months ago