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Business & Finance

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A view of pipes on an offshore platform
Business & Finance

Canadian firm finalizes stake sale in South Africa’s Orange Basin block

Eco (Atlantic) Oil & Gas has completed the transaction with compatriot Africa Oil Corp. enabling the latter’s subsidiary to increase its stake in a block offshore South Africa.

about 1 year ago
Nel halts alkaline electrolyzer production in Norway
Business & Finance

Nel halts alkaline electrolyzer production in Norway

Norwegian company Nel has decided to temporarily halt production at the alkaline electrolyzer production facility in Herøya, Norway.

about 1 year ago
Valaris DS-12 drillship; Source: Valaris
Business & Finance

BP eyes first gas months earlier with subsea ops already underway, as Valaris rig moves to next well

UK-headquartered energy giant BP has wrapped up drilling activities at two wells, targeting to bring them on stream next month.

about 1 year ago
EPS adopts SulNOx tech to cut emissons and fuel use on minimum 30 vessels
Business & Finance

EPS adopts SulNOx tech to cut emissons and fuel use on minimum 30 vessels

Singapore-based ship management company Eastern Pacific Shipping (EPS) and UK tech provider SulNOx have signed an agreement encompassing investment and adoption of the latter’s products for reducing emissions and fuel consumption.

about 1 year ago
Weco secures grant for renewables-powered offshore charging hub
Business & Finance

Weco secures grant for renewables-powered offshore charging hub

The Hague-based Wave Energy Collective (Weco) has secured funding under the EKOO TSE Electricity 2024 program, backed by the Dutch Ministry of Climate and Green Growth’s Topsector Energiesubsidie initiative, to advance a renewables-driven offshore charging solution for autonomous vessels. According

about 1 year ago
FPSO Atlanta joined the Malaysian FPSO player's fleet as the third managed unit operating off the coast of Brazil; Source: Yinson Production
Business & Finance

$1 billion liquidity injection comes Yinson Production’s way to bankroll FPSO player’s growth aspirations

A new investment shot that will be poured into Yinson Production has been secured with a consortium of international investment firms to pave the way for the Malaysian giant’s growth journey, with a smaller slice of the $1 billion equity financing pie earmarked for the controlling shareholder.

about 1 year ago
Tyra II; Source: TotalEnergies
Business & Finance

TotalEnergies bumps plateau production at giant North Sea gas project to month-end

TotalEnergies has revised its plateau production timeline as ramp-up activities continue to ensure all fields will be up and running at full capacity at its natural gas redevelopment project in the Danish sector of the North Sea.

about 1 year ago
Illustration; Source: Proper Marine
Business & Finance

Norwegian player bolsters design and engineering across maritime & offshore energy arenas with Brazilian firm buy

ABL Group has enlarged its capabilities in the engineering and design segments of the maritime and offshore energy landscape by bringing Proper Marine, a Brazil-based naval architecture and engineering consultancy, into its fold, which enables the latter to merge with the Norwegian company’s design

about 1 year ago
Shell has hired SLB for multi-region deepwater work across several assets; Source: SLB
Business & Finance

Shell taps SLB for ‘major’ multi-region deepwater drilling gigs

SLB has landed a batch of new deals with Shell to handle drilling assignments, spanning several regions, including the UK sector of the North Sea, Trinidad and Tobago, and the Gulf of Mexico alongside others.

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

BP expands 70-year relationship with US firm through deal spanning its global energy portfolio

U.S.-headquartered science, technology, and engineering player KBR has secured a global agreement, which builds upon the duo’s decades-long relationship with BP, the UK-based energy giant.

about 1 year ago
Prigorodnoye production complex at Sakhalin II project; Source: Gazprom
Business & Finance

America and UK put two Russian oil majors on blacklist, as US sanctions spree spreads to 183 ‘shadow fleet’ vessels

The latest raft of sanctions, which comes from the United States (U.S.) and the United Kingdom (UK), targets Russia’s energy sector by focusing on two giant Russian oil producers alongside means of enabling crude oil production and exports.

21 minutes read
An office building with a rainbow over it
Business & Finance

Duo stepping in to steady the ship at Galp until new CEO is picked

Portugal’s oil and gas company Galp has appointed two board members as interim Chief Executive Officers (CEOs) following the resignation of the firm’s previous leader.

about 1 year ago
International contractor hires Solstad vessel until end of 2027
Business & Finance

International contractor hires Solstad vessel until end of 2027

Norwegian shipping company Solstad Offshore has secured a three-year contract award with an international contractor for the construction support vessel (CSV) Normand Frontier. The firm contract starts immediately and will see the 2014-built vessel fully committed until the end of 2027. Normand Fron

about 1 year ago
A photo of Van Oord's cable laying vessel Nexus at sea
Business & Finance

Van Oord, DEME-CSBC JV to install Fengmiao 1 inter-array cables, foundations

Copenhagen Infrastructure Partners (CIP) has contracted the Dutch offshore construction company Van Oord and the joint venture between Belgian offshore construction specialist DEME and Taiwan’s largest shipbuilder CSBC for installation work at the Fengmiao 1 offshore wind farm in Taiwan. Van Oord’s

about 1 year ago
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