After IBAMA’s rejection, Petrobras will move to another location a rig brought in preparation for drilling activities on a block off Brazil.
Japanese giants Marubeni Corporation, Sumitomo Corporation, and Sumitomo Electric Industries have committed to investing a total of GBP 14.2 billion (approximately €16.3 billion) in offshore wind and green hydrogen projects, and the offshore wind supply chain in the UK. Ahead of the UK Prime Ministe
South Korean shipping behemoth HMM has reportedly entered the fray in the race to acquire Hyundai LNG Shipping, the nation’s leading transporter of liquefied natural gas (LNG). Market reports indicate that HMM has made its intentions known to IMM Private Equity, expressing its desire to conduct due
TechnipFMC has secured what it describes as a “significant” contract with Equinor to provide riserless light well intervention (RLWI) services on the Norwegian Continental Shelf (NCS). Under the agreement, TechnipFMC will provide production enhancement, production data, and pre-plug-and-abandonment
European Marine Energy Centre (EMEC) has won funding, totalling over £500,000 (around $623,000), for four feasibility projects supporting green hydrogen innovation and development. More specifically, the funding is expected to be used to conduct feasibility studies supporting the development of nove
United Oil & Gas (UOG) has agreed to give more time to UK-headquartered oil and gas company Quattro Energy to secure funding for the purchase of a license in the UK Central North Sea that includes an existing hydrocarbon discovery. The two parties entered into a binding asset purchase agreement (APA
Subsea 7 has launched applications for its two-year engineering graduate program for next year which takes place in the French capital. According to Subsea 7, the Graduate Engineer Development Scheme (GEDS) involves both on and off-the-job development and exposes graduates to a variety of engineerin
In a groundbreaking milestone for the global shipping industry, Mediterranean Shipping Company (MSC) has emerged as the first ocean carrier to surpass a staggering 5 million TEU (twenty-foot equivalent units) in fleet capacity, as confirmed by analysts at Alphaliner. The impressive feat highlights M
Due to a forecast storm event, Helix Energy Solutions’ semi-submersible vessel Q7000 has departed earlier than planned from Port Taranaki in New Zealand towards the Tui field where it will perform decommissioning work. Q7000 will plug and abandon the wells across the Tui field as part of Phase 3 of
Artificial Intelligence and the advent of automated ships will pose difficult questions in determining liability under the Hague Rules for maritime casualties, the 2022-2023 chairman of the Association of Average Adjusters, Sir Nigel Teare, cautions. Sir Nigel drew attention to a recent case involvi
Saudi state-owned oil and gas giant Aramco has appointed presidents of its upstream and downstream businesses to support the company’s growth plans. Aramco has appointed Nasir K. Al-Naimi as President of its Upstream business and Mohammed Y. Al Qahtani as President of its Downstream business, both r
The North Sea Transition Authority (NSTA) has offered 12 companies awards for 20 carbon storage licenses in the UK’s first-ever CO2 storage licensing round. The NSTA launched the UK’s first-ever carbon storage licensing round in June 2022, with applications closing in September. The 20 licenses in t
Marine fuel supplier Peninsula has confirmed the renewal of its syndicated European credit facility, reporting an increase from $350 million to $450 million. The supplier said that, together with the group’s Asian syndicated facility and other bilateral lines, the increase in the European credit fac
Italian oilfield services provider Saipem has secured two new offshore contracts with an overall value of approximately $850 million. Saipem has been awarded an engineering, procurement, construction and installation (EPCI) contract by Turkish Petroleum OTC for the second phase of the Sakarya FEED a
