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Market Outlooks

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Noble BlackHornet
Market Outlooks

2014-built drillship sports new equipment amid Noble’s upbeat rig market outlook

Noble Corporation, a U.S.-based offshore drilling giant, has fitted one of its drillships with new equipment, reflecting its confidence in a strengthening offshore drilling market and busier years ahead for the global rig fleet.

about 1 month ago
DOF sells four PSVs, buys two newbuild CSVs to further optimize fleet
Market Outlooks

DOF sells four PSVs, buys two newbuild CSVs to further optimize fleet

Norway’s DOF Group is selling four platform supply vessels (PSVs) and buying two construction support vessels (CSVs) as part of further fleet optimization and high-grading strategy. The PSVs Skandi Mongstad (2008-built), Skandi Flora (2009), Skandi Feistein (2011) and Skandi Kvitsøy (2012) are expec

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about 2 months ago
6,900-kilometer gas pipeline takes step forward as West African States seal the deal
Market Outlooks

6,900-kilometer gas pipeline takes step forward as West African States seal the deal

Member states of the Economic Community of West African States (ECOWAS) union have signed an intergovernmental agreement (IGA) for a pipeline that would span nearly 6,900 kilometers along the West African Atlantic coast, connecting Nigerian gas fields to Morocco. Jointly led by Nigerian National Pet

about 2 months ago
Scotland future-proofs subsea network rollout with long-term HVDC agreement
Market Outlooks

Scotland future-proofs subsea network rollout with long-term HVDC agreement

Scottish transmission system operator (TSO) SSEN Transmission has signed a long-term framework agreement with Sumitomo Electric Industries and Van Oord Offshore Wind UK for the engineering, supply, transport and installation of high-voltage direct current (HVDC) subsea cable systems to support futur

about 2 months ago
Ocean energy can supply 13% of global electricity demand, report says
Market Outlooks

Ocean energy can supply 13% of global electricity demand, report says

Ocean energy can supply 13% of global electricity demand, as well as produce 21% of current EU consumption – more than fossil gas or hydroelectricity today, according to a new report from Ocean Energy Europe (OEE). Launched on June 29, Ocean Energy: The Largest Untapped Renewable Resource, described

about 2 months ago
Illustration; Source: Australian Energy Producers
Market Outlooks

Australia in need of new gas investments to ensure energy security

Australian Energy Producers, representing Australia’s upstream oil and gas exploration and production industry, has welcomed the 2026 Integrated System Plan (ISP) from the Australian Energy Market Operator (AEMO), which highlights the need for new gas investments to enable grid reliability.

about 2 months ago
Prelude FLNG; Source: Shell
Market Outlooks

Shell’s LNG forecast anticipates 65% surge in demand by 2050

UK-headquartered energy giant Shell is expecting an uptick in demand for liquefied natural gas (LNG) to nearly 700 million tonnes a year by 2050, following supply disruptions caused by the conflict in the Middle East, which was cushioned by North American supply growth.

about 2 months ago
A subsea cable stored on a carousel
Market Outlooks

Swedes expand cable capacity as part of long-term deal with NKT

Sweden’s Hexatronic Group is investing in a new production line for fiber-optic cables at its largest production site, as part of a long-term supply agreement with Danish power cable manufacturer and installation firm NKT. The new production line at the Hudiksvall facility will more than double the

about 2 months ago
Illustration: Source: Wood Mackenzie
Market Outlooks

Strait of Hormuz closure: Tight LNG markets, oil prices could soar to $200

With more than 80 million tonnes per annum (mtpa) of liquefied natural gas (LNG) supply, representing around 20% of global supply, being inaccessible to global markets, the Strait of Hormuz closure has the potential to spark the biggest energy supply shock in decades, according to Wood Mackenzie, an

about 3 months ago
Ran jack-up rig; Source: FOSS & ESG; Credit: Borr Drilling
Market Outlooks

Borr Drilling’s CEO: Middle East conflict brings uncertainty but empowers long-term rig outlook

Borr Drilling, an offshore drilling player with its corporate base in Bermuda, has secured 13 contracts year-to-date, enhancing its backlog by adding 2,250 days and $274 million in jack-up rig deals.

about 4 months ago
Illustration; Source: Wood Mackenzie
Market Outlooks

Southeast Asia’s deepwater gas expansion faces ‘fragile economics’ challenge

As Southeast Asia’s second wave of deepwater gas projects targets a 28 trillion cubic feet (tcf) supply, Wood Mackenzie, an energy intelligence group, has shed light on the way operators can navigate what it describes as ‘fragile economics’ to unlock this new deepwater gas supply across the region.

about 4 months ago
Illustration: Source: Wood Mackenzie
Market Outlooks

Gulf LNG export woes push gas prices up but diversification becomes Europe’s energy lifeline

Given the supply shock that hit the global liquefied natural gas (LNG) markets as a result of the Middle East conflict, Wood Mackenzie, an energy intelligence group, has pointed out that this disruption, which led to a gas price surge, failed to rattle Europe thanks to its investment in diversified

about 4 months ago
Illustration; Source: Wood Mackenzie
Market Outlooks

Oil & gas firms step up exploration game to tackle supply shortfall by 2050

As global exploration and production (E&P) players are facing a 40% output drop, Wood Mackenzie, an energy intelligence group, has pointed out that oil and gas companies are increasing high-impact exploration investment to address the 300-billion-barrel supply gap and energy security priorities by 2

about 4 months ago
Illustration; Source: Wood Mackenzie
Market Outlooks

Middle East conflict: Energy security risks and price shocks as market volatility hits supply chains

Since the ignition of the conflict between the U.S. and Israel on one side and Iran on the other, the global markets have been on tenterhooks, as fears continue to grow over the impact the hostilities will have not just on the Middle East region but also the world at large, especially in terms of ec

about 6 months ago