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Business & Finance

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DEME's new offshore construction vessel to be built in China, delivery in 2028
Business & Finance

DEME’s new offshore construction vessel to be built in China, delivery in 2028

DEME Group has ordered a new offshore construction vessel (OCV) that will be capable of performing trenching, burial, and cable-laying operations and is set to have a methanol-ready propulsion design for future fuel flexibility. The OCV will be constructed by PaxOcean at the Zhoushan shipyard in Chi

about 1 year ago
Buzzard oil and gas field in the UK North Sea; Source: CNOOC Petroleum Europe
Business & Finance
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UK workers’ strike threat pays off: 130-strong North Sea crew endorses pay boost with CNOOC

With the wage growth mission spreading its wings across North Sea platforms, offshore workers have increasingly turned to potential industrial action pursuits to get better pay deals in the UK’s offshore energy sector, as illustrated by the latest wage win secured by workers employed on assets opera

about 1 year ago
UK
Business & Finance

ABP-backed collaboration wins UK government funding for green methanol project

TURBO-METH, a green methanol production technology project backed by the UK’s port operator Associated British Ports (ABP), has secured funding as part of the UK Department for Transport’s Clean Maritime Demonstration Competition (CMDC) 6.

about 1 year ago
Dunkerque LNG terminal in Dunkirk, France; Courtesy of Fluxys
Business & Finance

Spain-headquartered Asterion comes on board France’s largest LNG terminal

On a European footprint expansion quest, Madrid-headquartered Asterion Industrial Partners, an investment management firm, has enlarged its energy portfolio with the acquisition of an interest in a liquefied natural gas (LNG) terminal, described as not only France’s largest LNG receiving and regasif

about 1 year ago
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Enviros Group rapidly expands Southeast Asia presence with HGIS acquisition
Business & Finance

Enviros Group rapidly expands Southeast Asia presence with HGIS acquisition

Enviros Group broadens its APAC footprint by joining forces with one of the region’s leading and largest offshore survey companies. Enviros Group (Enviros) is thrilled to announce the acquisition of Hurricane Geo Inspection Survey Sdn. Bhd. (HGIS), one of Southeast Asia’s most established and awarde

about 1 year ago
Texas GulfLink deepwater crude oil export terminal; Source: Sentinel Texas GulfLink
Business & Finance

Texas’ deepwater crude oil export port cleared for takeoff as US energy expansion continues

Texas GulfLink, an affiliate of Dallas-based Sentinel, has received a permit from the U.S Environmental Protection Agency (EPA) for its offshore deepwater crude oil export terminal near Freeport, Texas.

about 1 year ago
South Korean duo sets out to promote domestic LNG bunkering business
Business & Finance

South Korean duo sets out to promote domestic LNG bunkering business

South Korea’s trading company POSCO International has signed a memorandum of understanding (MoU) with Korea Southern Power to promote the domestic LNG bunkering business.

about 1 year ago
Prysmian completes cable laying for Spanish interconnection
Business & Finance

Prysmian connects two Canary Islands with submarine cables

Italian cabling giant Prysmian Group has finished laying the submarine cable for the interconnection between Tenerife and La Gomera in Spain, with the entire infrastructure expected to be completed by the end of this year. The interconnection consists of a 66 kV double-circuit line, with a 36-kilome

about 1 year ago
HyOrc and Start forge joint venture to build green methanol network in Portugal
Business & Finance

HyOrc and Start forge joint venture to build green methanol network in Portugal

HyOrc has signed a definitive joint venture (JV) agreement with Start to co-develop and operate a network of green methanol plants in Portugal.

about 1 year ago
Wärtsilä
Business & Finance

Wärtsilä’s 15-year deal fortifying operational reliability of Chinese firm’s LNG vessel trio

Wärtsilä has won a multi-year lifecycle agreement for three liquefied natural gas (LNG) carriers with China LNG Shipping (International) Co. Ltd. (CLSICO), which is perceived to be designed to ensure operational reliability, enable flexibility in maintenance scheduling, and optimize the time between

about 1 year ago
Long-term, project-based contracts lead South Korean cable maker to ‘record order backlog’
Business & Finance

Long-term, project-based contracts lead South Korean cable maker to ‘record order backlog’

South Korean Taihan Cable & Solution has reported a record order backlog of KRW 3.25 trillion (approximately €2 billion) as of the end of August, surpassing KRW 3 trillion for the first time ever and marking an all-time high. This represents a 3.5-fold increase from KRW 945.5 billion at the end of 2

about 1 year ago
Meridian purpose-built FPSO hull design; Courtesy of Yinson Production
Business & Finance

Deepwater frontiers calling: Yinson Production’s FPSO hull design with low-carbon kit wins DNV’s blessing

Malaysia’s Yinson Production, a subsidiary of Kuala Lumpur-based energy infrastructure and technology company Yinson, has unveiled a purpose-built floating production storage and offloading (FPSO) hull design, which has secured main scantling approval (MSA) from DNV, a Norwegian classification socie

about 1 year ago
Darwin LNG; Source: Santos
Business & Finance

$19 billion merger deal is off: ADNOC’s XRG ends takeover talks with Santos

A consortium run by XRG, a subsidiary of Abu Dhabi National Oil Company (ADNOC), which includes Abu Dhabi Development Holding Company (ADQ) and global investment firm Carlyle, has withdrawn its $18.7 billion non-binding indicative offer for Australia’s energy player Santos.

about 1 year ago
Blue Marlin stimulation vessel; Source: Baker Hughes
Business & Finance

Baker Hughes helping Petrobras enhance oil & gas production as vessel duo remains in Brazil

U.S.-headquartered energy technology giant Baker Hughes has disclosed a long-term contract extension with Brazil’s Petrobras for two stimulation vessels, which will keep supporting offshore operations that optimize oil and gas recovery in the South American country’s post and pre-salt fields.

about 1 year ago