Energy Sector News

Venezuela's oil exports rose 10.5% last year despite political instability and changes to the U.S. sanctions regime on the country, as partners of state oil company PDVSA took more cargoes under licenses granted by Washington.As President Nicolas Maduro gets ready to start his third term in office next week following disputed election results, the OPEC country's oil exports rose for a second consecutive year, providing revenue to contribute to economic growth.U.S.-sanctioned PDVSA PDVSA.UL and its joint ventures exported an average of 772…

Geoquip Marine, a Njord Partners portfolio company, has added a seventh vessel to their fleet, which is being converted from a platform supply vessel (PSV) to the geotechnical services platform for the offshore energy sector.The Geoquip Silvretta vessel, originally built as PSV by Green Yard Kleven (Green Yard), is being converted in Norway.The conversion, scheduled for completion in spring 2025, will include the installation of Geoquip's largest drilling rig, the GMTR150.The rig will ensure a low carbon footprint…

The European Commission has welcomed the EU Council's adoption of the 15th sanctions package against Russia. The focus of this package is to keep cracking down on Russia's shadow fleet.With this package, the EU has, for the first time, imposed ‘fully-fledged' sanctions (travel ban, asset freeze and prohibition to make economic resources available) on various Chinese actors.The 15th package includes anti-circumvention measures. It targets 52 new vessels from Russia's shadow fleet, increasing the total number of such listings to 79.

Anemoi Marine Technologies has today announced that Clare Urmston has been appointed as the company’s new Chief Executive Officer (CEO).After holding a number of executive and non-executive positions within the manufacturing, healthcare and fast-moving consumer goods sectors, Clare Urmston joined Anemoi in March 2020 as its Chief Financial Officer and, in May 2024, became Chief Operating Officer as part of the company’s growth into Asia.She replaces Kim Diederichsen who is stepping…

Advanced boat-handling systems supplied by Vestdavit have been installed on the newbuild CSOV Olympic Notos delivered for Olympic by Norway’s Ulstein Verft, which is raising the bar in terms of sustainability and operational efficiency for such vessels employed in the offshore energy sector.The leading Norwegian supplier provided a total package of five davits for the vessel including two H-9001 davits - one dedicated lifeboat davit and the other a combination of MOB (man overboard) and lifeboat davit.

With clean energy projects maturing in U.S. waters, the nation’s offshore wind industry is poised to grow substantially, requiring a robust industrial base. A feedering model using domestic tugs and barges to transport turbines to offshore wind sites, is positioned at the heart of this emerging growth.Currently, the entire global fleet of wind turbine installation vessels (WTIV)—except for Dominion Energy’s Charybdis currently under construction at the Seatrium AmFELS yard in Brownsville, Texas—is flagged, owned and operated outside of the U.S.

ICTSI has officially opened its East Java Multipurpose Terminal (EJMT) in Lamongan Regency, Indonesia.The terminal has a 300-meter quay line, deep water draft of 13.5 meters (LAT), a 500-meter swinging basin and handling equipment for bulk, project and containerized cargo. It also has two of the largest post-Panamax mobile harbor cranes in East Java.Situated in Lamongan Regency 60 kilometers west of Surabaya City, the multipurpose facility sits within the 80-hectare Lamongan Shorebase complex…

Amidst sensational headlines and questionable policy decisions from Washington, D.C., the U.S. offshore energy sector stands resilient. This vital industry not only powers our nation with reliable energy but also enables hundreds of thousands of jobs across all 50 states and strengthens national security. From the Gulf of Mexico to the burgeoning offshore wind farms along the East Coast, the resilience and innovation of this sector are critical to driving economic growth and ensuring our nation’s energy security.The Gulf of Mexico has long been a cornerstone of U.S.

A joint venture between Schoeller Holdings and Deutsche Offshore Schifffahrt has ordered four construction commissioning service operation vessels (C-CSOVs) from the Chinese shipyard for offshore wind and wider offshore energy sector.The construction commissioning service operation vessels (C-CSOVs) have been ordered from CSSC Huangpu Wenchong Shipbuilding, a member of the China State Shipbuilding Group, for delivery beginning in early 2027.The vessels will be able accommodate on board up to 100 technicians…

McDermott and BW Offshore have entered into a collaboration to advance the technical and commercial viability of offshore blue ammonia production aboard a floating production storage and offloading (FPSO) facility.The strategic partnership aims to enable a viable pathway for offshore blue ammonia production, contributing to the global transition to low-carbon energy sources, and reinforcing both companies' commitment to sustainable energy practices.The collaboration will leverage…

The International Union of Marine Insurance (IUMI) presented its analysis of the latest marine insurance market trends at its 150th annual conference in Berlin, Germany, on Monday.The global marine insurance premium base for 2023 was reported as $38.9 billion representing an uplift of 5.9% from the previous year. Development was seen across all lines of business with the offshore energy sector experiencing a 4.6% increase, cargo insurance a 6.2% increase and ocean hull a 7.6%…

QatarEnergy has inaugurated the Rex Tillerson vessel, marking the delivery of the first LNG vessel under its historic shipbuilding program.Rex Tillerson vessel was named after the former Chairman and CEO of ExxonMobil as a tribute to his life-long accomplishments in the energy sector.The traditional naming ceremony was held at the Hudong-Zhonghua Shipyard in the Chinese city of Shanghai.“As the first ship in our new LNG fleet, the Rex Tillerson will undoubtedly play a significant…

The Arab Shipbuilding and Repair Yard Company (ASRY) has launched the first phase of the Bapco Refining Self-Propelled Fuel Oil Bunker Barges project with a keel-laying ceremony.The project, which is scheduled for execution in the final quarter of 2024, comes as part of a strategic alliance between ASRY and Bapco Refining and is a step towards positioning the Kingdom of Bahrain as a key maritime hub in the region.The project consists of the delivery of two self-propelled fuel…

Heavy lift and transport services firm Mammoet has launched the SK6000 land-based crane, said to be the world’s strongest, capable of handling large offshore wind components and delivering reduced integration times to offshore oil and gas projects.The 6,000t capacity of the SK6000 crane enables faster construction methodologies across the energy sector, according to Mammoet.The SK6000 is expected to have a major role in offshore wind, where fast growth of components in recent years has led to supply chain issues.

The New Bedford Foss Marine Terminal (NBFMT) this month opened its first deepwater berth to accommodate vessels serving North America’s emerging offshore wind sector.This milestone, reached after two years of demolition and construction, marks a crucial step in Phase II of the terminal's development. The newly opened berth, designed specifically for offshore wind service vessels, features a 300-foot bulkhead and has been enhanced by extensive dredging. These upgrades are set to improve the terminal's functionality for both domestic and international vessels.Andrew Saunders…

On release of its interim financial report 2024 Cadeler reports that it has delivered results in line with expectations and achieved a record high order backlog.The world’s largest operator in offshore wind installation, operation, and maintenance services also states that in addition to progress on the integration of the Eneti business has achieving synergies above expectations.Cadeler has also added projects in Asia and the US – as well as Europe – to its order book.The renewed O-class cranes were delivered on time and on budget.

Nigeria's oil output has risen to between 1.6 million and 1.7 million barrels per day after the government beefed up security to curb crude theft, Chief of Naval Staff Emmanuel Ikechukwu Ogalla said on Tuesday.Crude production in Nigeria, a member of the Organization of the Petroleum Exporting Countries (OPEC), stood at 1.2 million barrels per day in February, Ogalla said. Oil major Shell has exited the country."We have stepped up surveillance and enforcement in the oil producing areas…

China National Offshore Oil Company (CNOOC) said on Thursday it signed strategic alliance agreement with Abu Dhabi National Oil Company (ADNOC) to deepen cooperation.Under the agreement, the companies will cooperate in oil, gas exploration and production, oilfield services and the trading of crude oil and liquefied natural gas, CNOOC, parent of CNOOC Ltd, said a press release.They will also deepen work in the new energy sector and in low-carbon projects, CNOOC added.(Reuters - Reporting by Chen Aizhu; editing by Jason Neely)

The German government has granted Hydrogenious LOHC Infra Bavaria 72,5 million Euro towards the Green Hydrogen @ Blue Danube project. The federal government is providing 70% of the funding, while the state of Bavaria is contributing 30%.The project has already been designated an “Important Project of Common European Interest” (IPCEI) in the hydrogen “Hy2Infra” wave by the European Commission in February 2024, as it contributes to a sustainable and stable hydrogen supply for industry…

The Texas energy industry was evaluating the impact from Hurricane Beryl on Monday after the powerful storm lashed the U.S. Gulf Coast, closing key shipping ports and hitting the oil refining and production sectors.Beryl made landfall near the coastal town of Matagorda, Texas, on Monday morning, packing maximum sustained winds of 80 miles per hour (129 kilometers an hour) and posing problems for the heart of the country's energy sector.The storm had strengthened to a Category…

The U.S. Department of the Interior’s Bureau of Ocean Energy Management (BOEM) on Friday announced its approval of Ørsted’s construction and operations plan (COP) for the Sunrise Wind project, marking the final approval needed from the federal agency to move the project toward the start of offshore construction.New York’s largest offshore wind project, the 924 MW Sunrise Wind project will to be located south of Martha’s Vineyard, Mass., and east of Block Island, R.I.The COP approval outlines the project’s one nautical mile wind turbine spacing…

As the offshore wind industry grows, so too does the number of purpose-built SOVs and CSOVs needed to support this clean energy sector. Maritime Matters sits down with Siemens Energy’s Trygve Øi Akselsen and Intelatus Global Partners’ Philip Lewis to discuss how evolving technologies are helping to drive performance and efficiency gains across the global fleet.

Maritime labour unions in Argentina announced on Thursday they would cease all activities in ports for 48 hours.The United Maritime Workers Union in a post on Facebook said that the Tugboat Owners Chamber (C.A.R.) has refused to negotiate an expired bargaining agreement, prompting the union to halt work.However, in light of concerns over potential energy supply shortages, the union confirmed that tugboats, which guide vessels supplying thermoelectric power plants and LNG gas tankers, will continue operations.The exception was made to prevent additional pressure on the energy sector.(Reuters -