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Market Outlooks

HMM targets more green ships with new multi-billion-dollar investment

South Korean shipping company HMM has unveiled its future growth strategy involving a KRW 15 trillion (about $11.3 billion) investment plan.

about 4 years ago

As rig utilisation ramps up in Asia Pacific, stacked jack-ups get reactivated mostly for gigs in Middle East, reveals Westwood

Market Outlooks

Rig utilisation ramps up in Asia Pacific, reveals Westwood

Rig activity in Asia Pacific has been stepped up this year, but most stacked jack-ups are being reactivated for gigs in the Middle East.

about 4 years ago

UK safety equipment manufacturer invests millions in new facility to support North Sea oil & gas industry

Market Outlooks

UK firm invests millions in new facility to support North Sea oil & gas industry

Aberdeen-based safety equipment manufacturer Dräger Marine & Offshore has revealed a multi-million-pound investment in a new facility.

about 4 years ago

Market Outlooks

Contractors win FEED job for UK’s power station with carbon capture

Worley, Mitsubishi Heavy Industries Group and Tecnicas Reunidas will be pooling resources for SSE Thermal and Equinor’s project in Peterhead.

about 4 years ago

Market Outlooks

Reach Subsea preparing fleet for ‘strong market development’

Reach Subsea has entered into an agreement with Volstad Maritime for the use of the subsea vessel Deep Cygnus as an ‘important step in the long-term fleet planning strategy’. The agreement was signed for a period of four years, with an option to extend for one year. According to Reach Subsea’s CEO J

about 4 years ago

Oil & gas trump low-carbon investment plays in H1 2022, says WoodMac

Market Outlooks

Oil & gas plays trump low-carbon investments in H1 2022, says WoodMac

Instead of the anticipated ramp-up of green investments, WoodMac, points out that pure oil plays still trump low-carbon diversification.

about 4 years ago

Market Outlooks

K Line, EGA team up to decarbonise bulk cargo shipping

Japanese shipping company Kawasaki Kisen Kaisha (K Line) has signed a memorandum of understanding (MOU) with the UAE-based aluminium producer Emirates Global Aluminium (EGA) to cooperate on research and pilot projects to decarbonise bulk cargo shipping.

about 4 years ago

TAQA keeping all assets in its oil & gas portfolio, bar Dutch assets

Market Outlooks

TAQA keeping all assets in its oil & gas portfolio, bar Dutch ones

Due to the current energy security concerns, TAQA has decided to keep its entire oil & gas portfolio, except for its Dutch upstream assets.

about 4 years ago

Market Outlooks

TGS makes its first renewable energy venture investment

Norwegian seismic player TGS has made its first renewable energy venture investment with the acquisition of an equity stake in NASH Renewables, a start-up developing Software-as-a-Service (SaaS) solutions for the prospecting, construction and operations of wind energy projects. Led by former Siemens

about 4 years ago

Saipem’s board endorses first sustainability plan combining business with ESG factors to reach net-zero by 2050

Market Outlooks

Saipem’s board endorses first sustainability plan with ‘challenging objectives’

Saipem’s first sustainability plan, combining business and financial objectives with ESG criteria, has been approved.

about 4 years ago

Illustration/Sabella’s tidal turbine (Courtesy of Sabella)

Market Outlooks

ITRE takes ‘bold action’ to support innovative renewable energy technologies

The renewable energy sector has called on the EU Member States to support the creation of an installation target for innovative renewable energy in the Renewable Energy Directive.

about 4 years ago

Market Outlooks

Amid high fossil fuel prices, renewable power saves around $55 bln, says IRENA

IRENA believes that renewables are crucial to breaking away from volatile fossil fuel prices and tackling energy security & climate change.

about 4 years ago

WoodMac: Seven giant national oil players have what it takes to keep up output for 40-60 years

Market Outlooks

WoodMac: Seven giant oil players have what it takes to keep up output for 40-60 years

With two-thirds of global resources in their hands, seven NOCs own the lion’s share of remaining discovered oil & gas resources.

about 4 years ago

Market Outlooks

EIA: U.S. LNG exports to drop by six per cent following Freeport outage

The U.S. Energy Information Administration (EIA) forecasts U.S. LNG exports to fall six per cent from the first half to the second half of 2022 due to the Freeport outage.

about 4 years ago