Category: Long read
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Hormuz shutdown ramifications: Oil price hike to hit $100 as Asia-Europe LNG battle looms
Hormuz shutdown ramifications: Oil price hike to hit $100 as Asia-Europe LNG battle looms As the closure of the Strait of Hormuz, through which 15% of global oil and 20% of global liquefied natural gas (LNG) supply flows, evokes fears of a major energy shock, analysts at Wood Mackenzie, an energy intelligence group, have warned…
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Rig gigs of $900 million push Valaris’ backlog to $4.7 billion
Rig gigs of $900 million push Valaris’ backlog to $4.7 billion Bermuda-incorporated offshore drilling contractor Valaris has secured a batch of new drillship and jack-up rig assignments and extensions in Africa, Asia-Pacific, Europe, and North and South America. The post Rig gigs of $900 million push Valaris’ backlog to $4.7 billion appeared first on Offshore Energy.…
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Exclusive interview with Eni: Gas and LNG at crux of multiple FIDs as ‘game-changing phase’ edges closer
Exclusive interview with Eni: Gas and LNG at crux of multiple FIDs as ‘game-changing phase’ edges closer With a diversified pipeline of projects spanning Africa, Asia-Pacific, the Americas, and the East Mediterranean, Italy’s energy giant Eni is set on pursuing a disciplined exploration strategy focused on rapid monetization and a pragmatic, technology-driven approach to emission…
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Exclusive interview with Noble: Tight rig demand on 2026 horizon – Golden Triangle and US Gulf as core growth regions
Exclusive interview with Noble: Tight rig demand on 2026 horizon – Golden Triangle and US Gulf as core growth regions With contracting opportunities still on the uptick in spite of potential softer energy prices, Noble Corporation, a U.S.-headquartered offshore drilling giant, has pinpointed the Golden Triangle, the U.S. Gulf, South America, and West Africa as…
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Exclusive interview with SBM Offshore: South America anchors business growth, as West Africa emerges on FPSO horizon
Exclusive interview with SBM Offshore: South America anchors business growth, as West Africa emerges on FPSO horizon SBM Offshore is keeping Brazil and Guyana as the core hub of its FPSO activity, while eyeing new opportunities in West Africa. The post Exclusive interview with SBM Offshore: South America anchors business growth, as West Africa emerges…
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Exclusive interview: Velesto sets its sights on Malaysia and Southeast Asia gas drilling plays
Exclusive interview: Velesto sets its sights on Malaysia and Southeast Asia gas drilling plays As global energy security concerns keep the demand for oil and gas alive, Malaysia’s Velesto Energy, owner of premium jack-up rigs and hydraulic work-over units, has dived into its expectations for 2026, highlighting its belief that the jack-up rig market will…
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Worley among firms breathing life into $44 billion LNG project during early execution stage
Worley among firms breathing life into $44 billion LNG project during early execution stage Glenfarne Alaska LNG, a subsidiary of Glenfarne Group, has taken steps to move the first phase of its liquefied natural gas (LNG) export development in Alaska from development into early execution by announcing conditional awards for pipeline construction and line pipe supply,…
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Oil oversupply risks and global crude trade realignment loom with Venezuela’s regime change
Oil oversupply risks and global crude trade realignment loom with Venezuela’s regime change As Venezuela faces a regime change, the country’s production recovery is staring at a decade-long timeline despite near-term supply gains, according to Wood Mackenzie, an energy intelligence group, which believes that additional Venezuelan barrels could pressure Brent prices below mid-to high $50 per…
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Energy outlook: 12 trends set to shape 2026 power spectrum
Energy outlook: 12 trends set to shape 2026 power spectrum With market volatility, geopolitics, and policy repercussions expected to be among the key drivers affecting the global energy landscape, Rystad Energy, an energy market intelligence group, has outlined 12 predictions for the year ahead, noting opportunities and challenges that will unfold alongside increasing complexity, including…
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Downturn in high-impact exploration: Is revival of oil & gas drilling appetite on the cards?
Downturn in high-impact exploration: Is revival of oil & gas drilling appetite on the cards? Given that the number of players engaged in high-impact (HI) oil and gas exploration operations has been cut in half since 2014, Westwood Global Energy, an energy market research and consultancy firm, has warned about the uncertainty surrounding new hydrocarbon…
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Throwback: Top oil & gas final investment decision picks
Throwback: Top oil & gas final investment decision picks As the global oil and gas story expands with new discoveries and projects, many operators have been laying the groundwork to make final investment decisions (FIDs) for the undeveloped assets in their portfolios. Since many companies decided to sanction their existing developments in 2025, Offshore Energy…
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Ten big consolidation moves across rig, oil & gas, and shipping spheres
Ten big consolidation moves across rig, oil & gas, and shipping spheres As the global consolidation momentum builds against the backdrop of ever-changing and challenging geopolitical conditions and energy realms, many companies engaged in the offshore drilling, subsea, hydrocarbon exploration and production (E&P), and maritime arenas are working to strengthen their place in the offshore…
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Round-up: New oil & gas discoveries take center stage as LNG momentum grows
Round-up: New oil & gas discoveries take center stage as LNG momentum grows As the offshore energy sector sees advancements in exploration, infrastructure expansion, LNG diversification, and carbon management initiatives, new discoveries in Norway reinforce the ongoing oil and gas dominance. International players, such as Shell, Equinor, Chevron, and Petrobras are reshaping portfolios through joint…
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Big Oil vs climate advocates on US offshore leasing plan: Key to energy security and jobs or coastal economy threat
Big Oil vs climate advocates on US offshore leasing plan: Key to energy security and jobs or coastal economy threat The Trump administration’s draft five-year offshore leasing plan continues to run the gauntlet of […] The post Big Oil vs climate advocates on US offshore leasing plan: Key to energy security and jobs or coastal…
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$27 billion fills Shell, BP, TotalEnergies, Eni, Equinor, ExxonMobil, Chevron, and ConocoPhillips’ quarterly profit coffers
$27 billion fills Shell, BP, TotalEnergies, Eni, Equinor, ExxonMobil, Chevron, and ConocoPhillips’ quarterly profit coffers Against the backdrop of concerns over hydrocarbon production rates, the European and U.S. oil majors – the UK’s duo Shell and BP, France’s TotalEnergies, Norway’s Equinor, and Italy’s Eni alongside U.S.-based trio: ExxonMobil, Chevron, and ConocoPhillips – have secured over…
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EU moves to scale up production of sustainable maritime fuels as global race heats up
EU moves to scale up production of sustainable maritime fuels as global race heats up The European Commission has adopted the Sustainable Transport Investment Plan (STIP) which sets out a common approach to boost investments in renewable and low-carbon fuels focusing on waterborne and aviation transport. The post EU moves to scale up production of sustainable maritime fuels…
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Survey results spotlight need for oil & gas windfall tax reform, OUEK says
Survey results spotlight need for oil & gas windfall tax reform, OUEK says Britain’s trade body for the offshore energy industry, Offshore Energies UK (OEUK), has disclosed the results of its survey, which indicate that the Energy Profits Levy (EPL) needs to be tweaked from next year to unlock investments in the offshore energy arena. The…
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Legal setback for US LNG arena: Court nixes $11 billion Gulf Coast project’s permit
Legal setback for US LNG arena: Court nixes $11 billion Gulf Coast project’s permit A wave of planned U.S. liquefied natural gas (LNG) projects is perceived to be under scrutiny in the aftermath of a recent court ruling, which revoked a permit for an LNG export terminal over alleged climate harms. This decision is anticipated to…
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50% oil & gas North Sea boost on the UK’s table with cost savings and net zero within reach
50% oil & gas North Sea boost on the UK’s table with cost savings and net zero within reach With the United Kingdom’s government currently at a crossroads as it faces a critical decision over banning new North Sea exploration licenses or embracing a so-called science-backed approach that curbs emissions, Wood Mackenzie, an energy intelligence…
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EU-US energy deal seen as political symbol, not LNG game-changer
EU-US energy deal seen as political symbol, not LNG game-changer A recent study by the international intergovernmental organization Gas Exporting Countries Forum (GECF) has highlighted the potential impacts the trade deal signed between the US and the EU could have on liquefied natural gas (LNG) market dynamics. The post EU-US energy deal seen as political…
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UK and US to commit to boosting nuclear power capacity
UK and US to commit to boosting nuclear power capacity Companies from the United Kingdom (UK) and the United States (U.S.) have signed “major” […] The post UK and US to commit to boosting nuclear power capacity appeared first on Offshore Energy. Sara Kosmajac Go to offshore energy biz
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GCMD CEO: What happens downstream is as important as capturing CO2 onboard
GCMD CEO: What happens downstream is as important as capturing CO2 onboard The Global Centre for Maritime Decarbonisation (GCMD) has published its report on Project CAPTURED, which demonstrated the technical and operational feasibility of integrating maritime carbon capture into an industrial CO2 utilization pathway. The post GCMD CEO: What happens downstream is as important as…
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Plans for California’s offshore oil platform trio to be back online by year-end fuel opposition as new entrants join legal fight
Plans for California’s offshore oil platform trio to be back online by year-end fuel opposition as new entrants join legal fight With a decade-long wait coming to an end once a platform off the coast of California switched back to oil production mode, the U.S. Interior Department has revealed a timeline for the resumption of…
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US lawmakers propose twin bills to tackle maritime pollution
US lawmakers propose twin bills to tackle maritime pollution Two United States lawmakers have introduced a pair of bills aimed at cutting down […] The post US lawmakers propose twin bills to tackle maritime pollution appeared first on Offshore Energy. Sara Kosmajac Go to offshore energy biz
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Interview on America’s tax overhaul: Investment ‘catalyst’ across energy spheres but deadlines spell potential trouble for wind & solar
Interview on America’s tax overhaul: Investment ‘catalyst’ across energy spheres but deadlines spell potential trouble for wind & solar The latest action the United States (U.S.) has taken to unlock its energy dominance, encapsulated in a new tax reconciliation bill, which President Donald J. Trump signed into law, has set the stage for an uptick…
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German push against Russian shadow fleet begins with tanker insurance checks
German push against Russian shadow fleet begins with tanker insurance checks In a new enforcement effort that started on July 1, German authorities have begun […] The post German push against Russian shadow fleet begins with tanker insurance checks appeared first on Offshore Energy. Sara Kosmajac Go to offshore energy biz
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In a landmark move, OSPAR bans scrubber discharges in North-East Atlantic waters
In a landmark move, OSPAR bans scrubber discharges in North-East Atlantic waters A staged ban on scrubber discharges in coastal waters in the North-East Atlantic area […] The post In a landmark move, OSPAR bans scrubber discharges in North-East Atlantic waters appeared first on Offshore Energy. Naida Hakirevic Prevljak Go to offshore energy biz
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Global ship recycling rules go live with Hong Kong Convention
Global ship recycling rules go live with Hong Kong Convention As of today, June 26, the Hong Kong International Convention for the safe and […] The post Global ship recycling rules go live with Hong Kong Convention appeared first on Offshore Energy. Sara Kosmajac Go to offshore energy biz
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UK’s new guidance sheds light on North Sea oil & gas game as application window opens
UK’s new guidance sheds light on North Sea oil & gas game as application window opens In the wake of a Supreme Court ruling, marking the first inclusion in Britain’s history of greenhouse gas (GHG) emissions from the combustion of oil and gas in environmental impact assessments (EIAs) for hydrocarbon extraction projects, the United Kingdom…
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Op-ed: Shipping’s new net zero framework: Where to next?
Op-ed: Shipping’s new net zero framework: Where to next? Real momentum is building behind the global shipping industry’s transition towards a zero-emission future. The post Op-ed: Shipping’s new net zero framework: Where to next? appeared first on Offshore Energy. Offshore-Energy.biz Go to offshore energy biz
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Interview: High-growth regions, subsea, and FPSO jobs unlocking EnerMech’s resilience in energy realms
Interview: High-growth regions, subsea, and FPSO jobs unlocking EnerMech’s resilience in energy realms EnerMech, an Aberdeen-headquartered integrated solutions specialist, has pinpointed the focus on high-growth regions, subsea work, and floating production, storage, and offloading (FPSO) assignments as its tripartite resilience formula, which it uses as keys to achieving resilience against the backdrop of ongoing economic…
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Oil & gas price uptick and vessel rerouting as Israel-Iran conflict keeps markets on edge
Oil & gas price uptick and vessel rerouting as Israel-Iran conflict keeps markets on edge A spike in crude oil prices and tweaks to ships’ regular routes are some of the key indicators of uncertainty enveloping energy and shipping markets in the wake of Israel’s attack on Iran, as both countries turn off their giant…
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UK throws support behind carbon capture and storage pair set to unlock $34 billion by 2035
UK throws support behind carbon capture and storage pair set to unlock $34 billion by 2035 Offshore Energies UK (OEUK), has deemed the UK’s backing of carbon capture, usage, and storage (CCUS) projects as an important step for the domestic offshore energy industry, as the country works to bankroll its transition from oil and gas…
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BP green-lights batch of energy projects: Next chapter of mega gas field is a go
BP green-lights batch of energy projects: Next chapter of mega gas field is a go BP has revealed final investment decisions for multiple projects, including the next phase of development for a giant natural gas field in the Caspian Sea, described as one of the world’s largest gas-condensate fields and the company’s largest gas discovery.…
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Drop in UK oil & gas players’ profits prompts calls for tax changes to amplify investments
Drop in UK oil & gas players’ profits prompts calls for tax changes to amplify investments Offshore Energies UK (OEUK), has urged the government to take action on the energy profits levy (EPL), known as the windfall tax on oil and gas profits, by next year to put all ingredients in place to secure jobs, energy…
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US wards off Gulf of America’s oil & gas shutdown while new bill awaits Senate’s endorsement
US wards off Gulf of America’s oil & gas shutdown while new bill awaits Senate’s endorsement A new biological opinion for the Gulf of America, formerly the U.S. Gulf of Mexico, has forestalled the risk of ending new and existing oil and natural gas operations, staving off the danger to American energy security, based on…
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Japan consortium to seek ‘deeper’ pathways toward a carbon-neutral future
Japan consortium to seek ‘deeper’ pathways toward a carbon-neutral future A consortium consisting of seventeen Japanese organizations has jointly launched a social collaboration program […] The post Japan consortium to seek ‘deeper’ pathways toward a carbon-neutral future appeared first on Offshore Energy. Sara Kosmajac Go to offshore energy biz
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Prysmian enriches subsea cable toolbox with vessel christening and expansion of Finnish factory
Prysmian enriches subsea cable toolbox with vessel christening and expansion of Finnish factory Prysmian has boosted its transmission business with the completion of the expansion works at its subsea power cable factory in Finland and the naming ceremony for the newest addition to its cable laying vessel (CLV) fleet. The post Prysmian enriches subsea cable…
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Saipem, Baker Hughes, Halliburton and SLB collect almost $1.5 billion in profit
Saipem, Baker Hughes, Halliburton and SLB collect almost $1.5 billion in profit Against the backdrop of supply chain challenges, elevated prices, trade wars, and geopolitical and economic pressures, four oilfield services giants – Italy’s Saipem and U.S.-headquartered Baker Hughes, Halliburton, and SLB – have reported a combined profit of $1.49 billion in the first quarter…
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Russia to pump over $6B into shipbuilding as part of big plan to revitalize its maritime industry
Russia to pump over $6B into shipbuilding as part of big plan to revitalize its maritime industry The Russian government has unveiled a massive plan to build hundreds of new ‘civilian’ vessels by 2050, upgrade its shipbuilding capability, and increase the workforce in the maritime domain. The post Russia to pump over $6B into shipbuilding…
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Transocean, Noble, Valaris, Seadrill, ADES, and Shelf Drilling get hold of $31 billion backlog: Is rig demand tapering off?
Transocean, Noble, Valaris, Seadrill, ADES, and Shelf Drilling get hold of $31 billion backlog: Is rig demand tapering off? Transocean, Noble Corporation, Valaris, Seadrill, Shelf Drilling, and ADES have reported a combined total backlog of $31.17 billion in the first quarter of 2025. The post Transocean, Noble, Valaris, Seadrill, ADES, and Shelf Drilling get hold…
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Shell, BP, TotalEnergies, Eni, Equinor, ExxonMobil, Chevron, and ConocoPhillips score $29 billion
Shell, BP, TotalEnergies, Eni, Equinor, ExxonMobil, Chevron, and ConocoPhillips score $29 billion Shell, BP, TotalEnergies, Equinor, Eni, ExxonMobil, Chevron, and ConocoPhillips have managed to come on top yet again, displaying the resilience of the energy sector with performance and quarterly results that show a combined profit of about $29 billion. The post Shell, BP, TotalEnergies,…
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SBM Offshore’s Suriname-bound FPSO for TotalEnergies $12.2B oil project starts taking shape
SBM Offshore’s Suriname-bound FPSO for TotalEnergies $12.2B oil project starts taking shape TotalEnergies is making strides in the development of the first-ever offshore oil field in Suriname. Progress has also been achieved in the construction of a floating production, storage, and offloading (FPSO) vessel destined for this project. The post SBM Offshore’s Suriname-bound FPSO for…
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Exclusive interview: Balancing act between energy security and decarbonization unlocking oil & gas resilience
Exclusive interview: Balancing act between energy security and decarbonization unlocking oil & gas resilience Sulzer has pointed out the operators’ need to pursue decarbonization tools to ensure cleaner production and more efficient operations, maximizing productivity and enhancing sustainability to tackle the climate change ticking time bomb and come to grips with energy security challenges. The…
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$13.7 billion deals for $50B South American LNG project put into Bermuda firm’s hands
$13.7 billion deals for $50B South American LNG project put into Bermuda firm’s hands Golar LNG has gotten hold of two multibillion-dollar assignments related to a proposed liquefied natural gas (LNG) large-scale upstream and midstream integrated gas development project, estimated to be worth $50 billion, in the Sierra Grande Norte, on the South American country’s…
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Oil, gas, and LNG weaving energy security web
Oil, gas, and LNG weaving energy security web The winds of change are still gathering speed as they blow across the global energy industry, but they have not managed to dislodge oil and natural gas from their top spots in the energy mix. These fossil fuels, alongside LNG, are still keeping their finger on the…
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Step on the gas, pretty please
Step on the gas, pretty please Developments in 2024 hammered home the enduring nature of oil, gas, and liquefied natural gas (LNG) projects and the progress made in developing new ones and extending the lifetimes of older ones. The post Step on the gas, pretty please appeared first on Offshore Energy. Melisa Cavcic Go to…
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Aftermath of IMO’s net-zero framework: ‘Historic’ agreement or ‘total shipwreck’?
Aftermath of IMO’s net-zero framework: ‘Historic’ agreement or ‘total shipwreck’? During the session held from April 7 to April 11, MEPC 83 approved the IMO Net-Zero Framework, said to be the first in the world to combine mandatory emissions limits and greenhouse gas (GHG) pricing across an entire industry sector. The post Aftermath of IMO’s…
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Reversal of EU’s energy playbook on Russian oil barrels cannot be ruled out, MSI warns
Reversal of EU’s energy playbook on Russian oil barrels cannot be ruled out, MSI warns MSI has contemplated the possibility of a shift in energy policy within the European Union (EU), where the EU changes its mind about the ban on Russian fossil fuels and decides to take a page out of U.S. President Donald…
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Trump administration hit with lawsuit over oil platform trio’s restart off California
Trump administration hit with lawsuit over oil platform trio’s restart off California A new legal battle is on the U.S. energy horizon as part of an attempt to challenge and foil the allegedly outdated plans for three aging oil platforms off the coast of California. The post Trump administration hit with lawsuit over oil platform…
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US Gulf rig fleet facing ‘steep’ drop in activity but improvements on the cards next year
US Gulf rig fleet facing ‘steep’ drop in activity but improvements on the cards next year As idle rig times loom in the U.S. Gulf this year, Westwood Global Energy, an energy market research and consultancy firm, has pointed out that the supply, demand, and utilization for drillships are set to pick up the pace…
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Canada throws its weight behind $4 billion hydro-powered floating LNG project
Canada throws its weight behind $4 billion hydro-powered floating LNG project The Canadian government has handpicked Cedar LNG, a partnership between the Haisla Nation and Canadian energy infrastructure player Pembina Pipeline Corporation, to be on the receiving end of millions in support for a floating liquefied natural gas (LNG) (FLNG) facility. The post Canada throws…
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‘Pragmatic’ offshore energy investment policy key to ensure UK’s supply chain stays put
‘Pragmatic’ offshore energy investment policy key to ensure UK’s supply chain stays put With research showing that nine out of ten companies perceive business playgrounds in other countries as better suited for investment and growth, Britain’s trade body for the offshore energy industry, Offshore Energies UK (OEUK), has warned the UK government about the looming uncertainty…
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$5 billion loan dusting off the cobwebs from TotalEnergies’ stalled $20B LNG project
$5 billion loan dusting off the cobwebs from TotalEnergies’ stalled $20B LNG project Following a years-long hiatus, a multibillion-dollar liquefied natural gas (LNG) project off the coast of Mozambique is shaking the rust off its development by getting back on track with a loan of nearly $5 billion secured from the newly appointed board of…
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Oil tanker stays put as cargo ship gets a tow: US and Portugal let UK spearhead North Sea allision probe
Oil tanker stays put as cargo ship gets a tow: US and Portugal let UK spearhead North Sea allision probe As a recent allision between a U.S.-flagged oil/product tanker and a Portuguese container ship in the North Sea keeps reverberating across the maritime industry, many conspiracy theories are making the rounds. The post Oil tanker…
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China building 62% of new ships ordered globally in spite of looming US tariffs
China building 62% of new ships ordered globally in spite of looming US tariffs China has cemented its position as the world’s top shipbuilding nation as it secured orders for 3,454 out of a total of 5,735 vessels in the current global orderbook. The post China building 62% of new ships ordered globally in spite…
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Brazil and Norway unveil green shipping corridor plan
Brazil and Norway unveil green shipping corridor plan Brazil and Norway have decided to establish a green shipping corridor between the two countries in an effort to contribute to zero-carbon emissions in maritime transport. The post Brazil and Norway unveil green shipping corridor plan appeared first on Offshore Energy. Naida Hakirevic Prevljak Go to offshore…
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US order sets date for Chevron to grind oil exports from Venezuela to a halt
US order sets date for Chevron to grind oil exports from Venezuela to a halt Chevron has been given a 30-day deadline to bring a wind-down of its crude oil production and exports in Venezuela to an end, as its previous license has been revoked by the U.S. Treasury Department’s Office of Foreign Assets Control…
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US player keeps its eyes on expansion plans as clean energy underinvestment makes room for more LNG
US player keeps its eyes on expansion plans as clean energy underinvestment makes room for more LNG Given the worldwide spike in total demand for natural gas, Houston-headquartered NextDecade is contemplating further capacity expansion of its liquefied natural gas (LNG) export terminal at the Port of Brownsville, Texas. The post US player keeps its eyes…
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Shell-led JV preps for ‘critical’ step to enable start-up of Canada’s first LNG export project
Shell-led JV preps for ‘critical’ step to enable start-up of Canada’s first LNG export project LNG Canada, a joint venture company encapsulating Shell, Petronas, PetroChina, KOGAS, and Mitsubishi, is setting the stage to begin operations at its giant liquefied natural gas (LNG) export terminal in Kitimat, Canada’s British Columbia. The post Shell-led JV preps for…
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All eyes on EU as it presents Clean Industrial Deal to future-proof energy sector
All eyes on EU as it presents Clean Industrial Deal to future-proof energy sector The European Union has unveiled the Clean Industrial Deal, a transformational business plan outlining […] The post All eyes on EU as it presents Clean Industrial Deal to future-proof energy sector appeared first on Offshore Energy. Naida Hakirevic Prevljak Go to…
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Rekindled Shell-BP merger rumor mill going wild: Wishful thinking or real possibility?
Rekindled Shell-BP merger rumor mill going wild: Wishful thinking or real possibility? Speculation is running rampant over a potential business combination between two oil majors, with the energy industry abuzz over the alleged merger between the UK-headquartered Shell and BP and the implications such a mega consolidation move could have on the global scene. The…
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Alaska’s LNG terminal shaking off years-long stasis with revamp to stave off gas shortages
Alaska’s LNG terminal shaking off years-long stasis with revamp to stave off gas shortages Three players have signed on the dotted line to enable an existing liquefied natural gas (LNG) terminal in Nikiski on Alaska’s Kenai Peninsula to change hands and be given a kiss of life through redevelopment, which will unleash new flows of…
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Exclusive interview: Velesto going after three Ds – Digitalization, decarbonization, and diversification for enhanced drilling and oil & gas era
Exclusive interview: Velesto going after three Ds – Digitalization, decarbonization, and diversification for enhanced drilling and oil & gas era Technological advancement, supportive policy regulations, and integration of greener and cleaner power innovations are a bedrock of an equitable energy transition age for Malaysia’s Velesto Energy, which has set its cap on growth and expansion…
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Multi-billion projects at stake: Another blow for UK’s largest untapped oil & gas duo but Shell, Equinor, and Ithaca remain upbeat
Multi-billion projects at stake: Another blow for UK’s largest untapped oil & gas duo but Shell, Equinor, and Ithaca remain upbeat Which side will come on top is not yet clear, but it is unlikely that either will throw in the towel at this late stage in the UK’s oil and gas saga without a…
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UCL: Can GHG levy and e-fuel subsidy drive zero-emission shipping forward?
UCL: Can GHG levy and e-fuel subsidy drive zero-emission shipping forward? A high greenhouse gas (GHG) price coupled with targeted subsidies for e-fuels have shown […] The post UCL: Can GHG levy and e-fuel subsidy drive zero-emission shipping forward? appeared first on Offshore Energy. Sara Kosmajac Go to offshore energy biz
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$1.3 trillion windfall coming up on America’s GDP horizon with LNG bonanza
$1.3 trillion windfall coming up on America’s GDP horizon with LNG bonanza With 14 multibillion-dollar projects lined up on the LNG export menu, America seems poised to reach the $1.3 trillion gross domestic product (GDP) promise spotlighted in a recent S&P Global study, making a strong case for an LNG boom. The post $1.3 trillion…
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Workforce cuts on the rise: Oil & gas giants’ cost-saving quests fuel layoffs’ wave
Workforce cuts on the rise: Oil & gas giants’ cost-saving quests fuel layoffs’ wave Price volatility, rise in costs, climate change, energy transition agendas, rising power demand, and emerging technologies and innovations, including market evolution, automation, and progress in unleashing the benefits of artificial intelligence (AI), have also played their part in shrinking the job…
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CNOOC earmarks up to $19 billion for oil & gas, offshore wind, solar, and AI-integrated plays
CNOOC earmarks up to $19 billion for oil & gas, offshore wind, solar, and AI-integrated plays China’s CNOOC has set out its multibillion-dollar business strategy and development plan for 2025. The post CNOOC earmarks up to $19 billion for oil & gas, offshore wind, solar, and AI-integrated plays appeared first on Offshore Energy. Melisa Cavcic…
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Trump makes good on all his energy promises: ‘Golden’ US oil, gas, & LNG age and offshore wind pause in effect
Trump makes good on all his energy promises: ‘Golden’ US oil, gas, & LNG age and offshore wind pause in effect Will Trump’s upcoming oil and gas era be a setback, holding back U.S. renewables’ progress, or a shot in the arm galvanizing greener zest? The post Trump makes good on all his energy promises:…
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Wind ship propulsion in maritime: 2024 was a year to remember
Wind ship propulsion in maritime: 2024 was a year to remember 2024 was an exciting year in the ongoing development of the wind-assisted ship propulsion segment, with 54 large ships in operation and seven more designated as wind-ready. The post Wind ship propulsion in maritime: 2024 was a year to remember appeared first on Offshore…
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Alaska’s LNG project moves closer to reality after 10 years in the making, with Glenfarne as private investor
Alaska’s LNG project moves closer to reality after 10 years in the making, with Glenfarne as private investor Alaska Gasline Development Corporation (AGDC), the developer of a liquefied natural gas (LNG) project in the U.S. northernmost state, has signed a framework agreement with compatriot Glenfarne to privately lead and fund the development of the project.…
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SBM Offshore on FPSO landscape: Oil & gas demand unlocking financing with CCS poised for ‘biggest impact’ in emission cuts
SBM Offshore on FPSO landscape: Oil & gas demand unlocking financing with CCS poised for ‘biggest impact’ in emission cuts With a backlog of $33 billion and sustainability at the heart of its strategy to future-proof its floating production units, SBM Offshore is expecting to see a new batch of 40 floating production, storage, and…
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Biden’s US offshore oil & gas drilling ban throws a spanner in the works but ‘drill, baby, drill’ still on Trump’s energy agenda
Biden’s US offshore oil & gas drilling ban throws a spanner in the works but ‘drill, baby, drill’ still on Trump’s energy agenda President Joe Biden’s legacy has now added an offshore drilling ban, spanning over 625 million acres of the U.S. ocean, to the mix. The post Biden’s US offshore oil & gas drilling…
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Energy outlook: Uncertainty and ‘resilient’ oil & gas to run the energy show in 2025
Energy outlook: Uncertainty and ‘resilient’ oil & gas to run the energy show in 2025 The world at large still runs on coal, oil, and gas, with the lion’s share of the energy mix controlled by these fuels. The post Energy outlook: Uncertainty and ‘resilient’ oil & gas to run the energy show in 2025…
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Offshore Energy’s top five hydrogen stories of 2024
Offshore Energy’s top five hydrogen stories of 2024 Hydrogen is considered one of the key components of global decarbonization, with countries setting ambitious capacity and demand targets. In 2024, governments and companies worldwide increased their investments and announced new partnerships and projects, recognizing hydrogen’s potential to decarbonize hard-to-abate sectors and provide a sustainable energy source.…
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WoodMac: low-carbon power central to energy transition, but replacing oil & gas will be a ‘gargantuan’ task
WoodMac: low-carbon power central to energy transition, but replacing oil & gas will be a ‘gargantuan’ task Energy intelligence group Wood Mackenzie has published a report listing several key trends shaping the future of the energy sector, including three that are relevant to the offshore industry – the fast pace of China’s energy transition, a…
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Report calls LNG ‘a false solution’ harming the climate, urging banks to stop financing export terminals
Report calls LNG ‘a false solution’ harming the climate, urging banks to stop financing export terminals Non-governmental research and campaigning organization Reclaim Finance and BankTrack, an international tracking, campaigning, and civil society support organization targeting private sector commercial banks and the activities they finance, have published a report asking banks to stop financing liquefied natural…
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France experiences wind propulsion boom in 2024
France experiences wind propulsion boom in 2024 The French sailing fleet now comprises eleven large cargo ships, with four new wind-powered vessels added to the fleet in 2024, Association Wind Ship revealed. The post France experiences wind propulsion boom in 2024 appeared first on Offshore Energy. Naida Hakirevic Prevljak Go to offshore energy biz
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Canada’s $4 billion LNG project facing another legal challenge
Canada’s $4 billion LNG project facing another legal challenge Steelhead LNG is mounting one more legal challenge against an LNG project on Canada’s West Coast. Legal proceedings are underway against Pembina Pipeline Corporation and ARC Resources in connection with a floating LNG (FLNG) solution for this development. The post Canada’s $4 billion LNG project facing…
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Gazprom greenlights $15 billion investment plan to bolster gas production capacity
Gazprom greenlights $15 billion investment plan to bolster gas production capacity Russia’s giant Gazprom has set its investment program and budget for next year at RUB 1.52 trillion (almost $15.22 billion), a drop of about 7% compared with the planned spending of RUB 1.64 trillion (nearly $16.43 billion) for 2024. The post Gazprom greenlights $15…
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Russian ‘shadow fleet’ tanker sinks, another runs aground in Kerch Strait
Russian ‘shadow fleet’ tanker sinks, another runs aground in Kerch Strait Two tankers linked to the so-called Russian ‘shadow fleet’ encountered a storm near the Kerch Strait and were heavily damaged. As a result, one of the vessels split into two and sank while the other one ran aground. The post Russian ‘shadow fleet’ tanker…
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MSC urged to align operations with global standards amid environmental violations
MSC urged to align operations with global standards amid environmental violations One of the world’s largest container shipping companies, Switzerland’s Mediterranean Shipping Company (MSC), has […] The post MSC urged to align operations with global standards amid environmental violations appeared first on Offshore Energy. Sara Kosmajac Go to offshore energy biz
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ExxonMobil’s 2030 agenda: Fueling decarbonization with $30 billion while ramping up oil & gas and LNG output
ExxonMobil’s 2030 agenda: Fueling decarbonization with $30 billion while ramping up oil & gas and LNG output ExxonMobil has unveiled its new corporate plan up to 2030, expecting to deliver a growth potential of $20 billion in earnings and $30 billion in cash flow. The post ExxonMobil’s 2030 agenda: Fueling decarbonization with $30 billion while…
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US LNG export projects on hold until environmental reviews are out of the way
US LNG export projects on hold until environmental reviews are out of the way As the Department of Energy (DOE) has confirmed the environmental reviews will need to be completed with all agencies before pending projects can get back on track, the pause appears to still be in effect, even though a preliminary injunction from…
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CMP reaffirms its dedication to sustainable maritime operations ahead of 2025
CMP reaffirms its dedication to sustainable maritime operations ahead of 2025 As the year 2024 draws to a close, Copenhagen Malmö Port (CMP) has reinforced […] The post CMP reaffirms its dedication to sustainable maritime operations ahead of 2025 appeared first on Offshore Energy. Sara Kosmajac Go to offshore energy biz
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US-Qatar oil & gas ties are ‘win-win’ but EU’s green agenda bound to cause exodus, QatarEnergy’s CEO warns
US-Qatar oil & gas ties are ‘win-win’ but EU’s green agenda bound to cause exodus, QatarEnergy’s CEO warns QatarEnergy’s CEO has pinpointed the potential detriments the EU’s new sustainability rules may bring, including energy security woes for the top global liquefied natural gas (LNG) import market, given the high penalties gas and LNG importing club…
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China’s EV giant BYD takes delivery of another dual-fuel car carrier
China’s EV giant BYD takes delivery of another dual-fuel car carrier China’s BYD, ‘the world’s largest’ plug-in hybrid electric vehicle manufacturer, recently took delivery of its second LNG dual-fuel car carrier. The post China’s EV giant BYD takes delivery of another dual-fuel car carrier appeared first on Offshore Energy. Naida Hakirevic Prevljak Go to offshore…
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LNG as marine fuel: Fast-maturing but still in early stages, SEA-LNG found
LNG as marine fuel: Fast-maturing but still in early stages, SEA-LNG found Despite the fact that it is maturing faster than other alternative fuels, LNG and […] The post LNG as marine fuel: Fast-maturing but still in early stages, SEA-LNG found appeared first on Offshore Energy. Sara Kosmajac Go to offshore energy biz
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Noble rigs score more work with TotalEnergies, BP, and TAQA as Inpex opts for early termination
Noble rigs score more work with TotalEnergies, BP, and TAQA as Inpex opts for early termination Noble Corporation has secured further work for two floaters in Nigeria with France’s TotalEnergies and in the UK with TAQA while one of its jack-up rigs also got more work in Britain with BP. However, Inpex has decided to…
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Sea lion’s first roar pushed back as costs rise to $1.4 billion for Falkland Islands’ oil project
Sea lion’s first roar pushed back as costs rise to $1.4 billion for Falkland Islands’ oil project Israel’s Navitas Petroleum has postponed a final investment decision (FID) for its giant Sea Lion oil project in the North Falkland Basin (NFB), bumping it to next year for Phase 1, following the cost hike to $1.4 billion.…
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Powering oil & gas production with renewables and low-carbon energy: Electrification brings emission cuts of 80%
Powering oil & gas production with renewables and low-carbon energy: Electrification brings emission cuts of 80% While the energy transition toolbox is filled with decarbonization tools, electrification seems to be the jewel in its crown, based on research conducted by Rystad Energy, which points out that applying this method to upstream operations has the potential…
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COP29 delivers hat trick with $1.3 trillion on the cards but lack of stronger mitigation and finance action seen as ‘betrayal’
COP29 delivers hat trick with $1.3 trillion on the cards but lack of stronger mitigation and finance action seen as ‘betrayal’ COP29 has managed to reach a consensus on tripling climate finance while setting a new worldwide target to direct $1.3 trillion of climate finance to developing countries by 2030. The post COP29 delivers hat…