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Business & Finance

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EU flag; Credit: Adrijana Buljan, Editor-in-Chief at offshoreWIND.biz, Offshore-Energy.biz's sibling site
Business & Finance

EU endorses ban on Russian pipeline gas and LNG imports

In a move to wean itself completely off Russian oil and gas imports, the European Union (EU) has given the green light for a ban on imports of pipeline gas and liquefied natural gas (LNG), with oil expected to follow suit in 2027.

about 8 months ago
Subsea cable firm XLCC relaunches as Aquora, focuses on installation first
Business & Finance

Subsea cable firm XLCC relaunches as Aquora, focuses on installation first

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UK-based XLCC has rebranded and relaunched as Aquora, with a focus on cable installation and manufacturing to address the “critical demand” for high-voltage cable supply in the UK and Europe. Aquora will focus first on installation, utilizing a new, UK-flagged cable-lay vessel (CLV), which will also

about 8 months ago
Officials at the Coral Norte FLNG launching ceremony at Samsung Heavy Industries' Geoje Shipyard; Source: SHI
Business & Finance

Eni secures multimillion-dollar loan for African FLNG project

The board of directors of the African Development Bank has signed off on a loan for a second floating liquefied natural gas (FLNG) project, which Italy’s energy giant Eni will develop in the supergiant Rovuma basin off the coast of Mozambique, Africa.

about 8 months ago
A jackup rig being transported on a vessel
Business & Finance

African field days away from flipping oil production switch on almost 30 years after shutdown

Akrake Petroleum, a wholly-owned subsidiary of Lime Petroleum Holding, which is an 89.74% subsidiary of Singapore’s Rex International Holding, has updated its timeline for bringing back online an oil field off the coast of Benin that ceased production due to low oil prices in the late 1990s.

about 8 months ago
Nuclear-powered vessels are achievable, Norwegian-led study confirms
Business & Finance

Nuclear-powered vessels are achievable, Norwegian-led study confirms

Nuclear-powered DP vessels are a technically feasible solution and are achievable, the Nuclear Propulsion in merchant Shipping (NuProShip II) study has confirmed. The NuProShip II project, funded by the Research Council of Norway, demonstrates the technical feasibility of nuclear-powered DP vessels,

about 8 months ago
Rendering of a future LNG terminal
Business & Finance

Italian firm dips its toes into LNG market by joining 25 mtpa project in Louisiana

Italy’s Tecnimont, Maire’s company focused on integrated engineering & construction (IE&CS) business, has made its first foray into the liquefied natural gas (LNG) market with a strategic deal with Argent LNG, a U.S.-based energy company dedicated to developing LNG export solutions, to participate a

about 8 months ago
North Sea countries to ink pact with offshore wind industry, TSOs
Business & Finance

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 8 months ago
Noble's Noble GreatWhite, former Ocean GreatWhite rig; Source: Green Yard Feda
Business & Finance

Noble scores $1.3 billion in rig deals and enters Norway’s floater drilling scene

U.S.-headquartered offshore drilling contractor Noble Corporation has picked up new assignments for nine drilling rigs in its fleet, including a job for one of its semi-submersible units, which enables it to make its entrance into the Norwegian harsh environment floater market.

about 8 months ago
WATCH: Bound4blue suction sails installed on first of five Maersk Tankers’ vessels
Business & Finance

WATCH: Bound4blue suction sails installed on first of five Maersk Tankers’ vessels

Spanish automated wind-assisted propulsion system specialist bound4blue has installed the first eSAIL units on the first of five tankers owned by Danish Maersk Tankers. Four 24-meter ‘plug and play’ suction sails were fitted on Maersk Trieste, completing the first stage of an agreement that will see

about 8 months ago
Prysmian to buy Spanish cable survey and installation solutions provider
Business & Finance

Prysmian to buy Spanish cable survey and installation solutions provider

Italian cabling giant Prysmian Group is set to acquire ACSM, a Spanish provider of solutions for submarine cable installation, including subsea surveying, route planning and seabed preparation. Based in Vigo, ACSM has been operating for over 20 years across 60 countries, with over 350 employees. Its

about 8 months ago
NAGA 4 jack-up rig; Source: Velesto
Business & Finance

Exclusive interview: Velesto sets its sights on Malaysia and Southeast Asia gas drilling plays

As global energy security concerns keep the demand for oil and gas alive, Malaysia’s Velesto Energy, owner of premium jack-up rigs and hydraulic work-over units, has dived into its expectations for 2026, highlighting its belief that the jack-up rig market will remain on stable ground during the year

about 8 months ago
Alaska LNG
Business & Finance

Worley among firms breathing life into $44 billion LNG project during early execution stage

Glenfarne Alaska LNG, a subsidiary of Glenfarne Group, has taken steps to move the first phase of its liquefied natural gas (LNG) export development in Alaska from development into early execution by announcing conditional awards for pipeline construction and line pipe supply, following a multi-roun

about 8 months ago
Newbuild Dutch multifunctional workboat to hit the market in September
Business & Finance

Newbuild Dutch multifunctional workboat to hit the market in September

Dutch Van Wijngaarden Marine Services has signed a contract with compatriot shipbuilder and designer Neptune Marine for the construction of an EuroCarrier that will be capable of performing survey and geotechnical services, among other things. The new EuroCarrier 2712 – DP1 – TIER III, to be named M

about 8 months ago
A plant on the coast
Business & Finance

Vitol locks in LNG supplies through 2031 with Brunei-based firm

Vitol, an energy and commodities company, has prolonged its liquefied natural gas (LNG) sale and purchase agreement (SPA) with Brunei Energy Services & Trading (BEST), ensuring LNG supplies for four additional years.

about 8 months ago