The Business of Offshore CO₂ Storage: A New Market for Maritime Infrastructure
Carbon capture and storage (CCS) is moving from a collection of demonstration projects toward a new infrastructure business. As of July 2025, 734 commercial CCS facilities were in operation or development, up from 628 a year earlier, while total capture capacity in the pipeline increased from 416 million tons per annum (Mtpa) to 513 Mtpa (64 Mtpa operational) (Figure 1). Figure 1. Cumulative operating CCS facilities by region, 1972-2025Source: Intelatus Global Partners’ interpretation of Global CCS Institute data.The number of operating facilities rose from 50 to 77 between 2024 and 2025…
US Court Reverses NJ permit for Williams NESE Natural Gas Pipeline
The U.S. Third Circuit Court of Appeals reversed a key New Jersey water permit for U.S. energy company Williams Cos' long-delayed Northeast Supply Enhancement (NESE) natural gas pipeline project in Pennsylvania, New Jersey and New York.The court said in a ruling on Tuesday that it granted petitions by environmental groups, vacated the Water Quality Certification and remanded the case to the New Jersey Department of Environmental Protection (NJDEP).“Following the Third Circuit's decision, we are working promptly with state regulatory…
Scientists say that climate change is causing record temperatures in Europe's oceans.
Scientists warned on Wednesday that climate change caused by humans was the primary cause of recent sea temperatures around Europe. They warned of serious consequences for marine ecosystems and coastal communities. Europe's oceans are not immune to the?extreme temperatures that many countries endured this summer. The average temperature of the Mediterranean last month was 27 degrees Celsius, the highest ever recorded for July. An offshore buoy near Mallorca measured 33 C early in August. According to an analysis by the World Weather Attribution group (WWA)…
BP awarded license for Venezuela Loran gas fields in partnership with XRG and UCC
BP has, in partnership with United Arab Emirates firm XRG, and a unit from Qatar's conglomerate UCC Holding secured a licence to explore and develop Venezuela's offshore Loran field's second phase, according to the British company's and government officials' announcements on Thursday.The agreement was signed in Caracas, and broadcast by the state?TV. It gives BP's group the right to produce 4 trillion cubic foot of gas in Loran.British Shell was awarded the license for the first phase in June. BP stated in a press release that…
US offers 81 million acres of Gulf of Mexico oil leases
The Trump Administration will on Wednesday offer oil and gas drilling companies more than 81 million acres (32,8 million hectares), in the Gulf of Mexico. This is part of a plan to boost domestic energy production by establishing regular offshore lease sales. This is the second sale since the U.S. and Israeli war against Iran disrupted global oil flows, sending oil prices to four year highs. The sale is the third in a series of 30 required by President Donald Trump's tax cut and spending bill passed in 2025. The Interior Department will offer 15,100 unleased blocks between 4.8 and 372 kilometers (3 to 231 miles) offshore, on the U.S.
Russia extends the ban on diesel and gasoline exports until January 2027
In a statement issued on Thursday, the Russian government announced that it had extended its bans on diesel and gasoline exports until January 31, 2027. The ban was initially implemented by Russia from July 8 until July 31, as part of an overall package of measures designed to help support the domestic fuel market following repeated Ukrainian drone strikes on oil refineries that caused fuel shortages and spikes in prices. Moscow has already placed restrictions on the export of jet fuel and gasoline. The government announced on Thursday that it was temporarily banning exports of gasoline…
Shell plans to drill at Venezuela's offshore gas field in 2027, according to sources
Shell has started tendering drilling services for its Dragon off-shore gas project in eastern Venezuela. This is part of a plan to begin drilling four wells here?in the second quarter of 2027. People say that the contract should be awarded before the end of September. The contract will not be effective until a final investment decision has been made on the 4.2 trillion cubic-foot project. The requirement shows that the company has taken concrete steps to advance the development, which was delayed for years due to sanctions. The U.S. has changed its policy towards Venezuela, which has caused the Dragon project to be repeatedly halted.
Shell plans to drill at Venezuela's offshore gas field in 2027, according to sources
Shell has begun tendering drilling services for its Dragon off-shore gas project in eastern Venezuela. This is part of a plan to start drilling 'four wells in this area in the second quarter 2027. People familiar with the process say that the contract should be awarded before the end of September. The contract will not go into effect until a final investment decision has been made on the 4.2 trillion cubic-foot project. The requirement shows that the company has taken concrete steps to progress the long-delayed project after years of uncertainty due to sanctions. The U.S.
Seraya considers selling or listing offshore wind company Cyan, CIO reports
Seraya Partners, a Singapore-based investment firm, is considering a dual track process for Cyan Renewables, its offshore wind services company. This could lead to a sale of the company or an IPO. According to a person with knowledge of the situation, Cyan, a Singapore-based marine service company that focuses on renewables, may be worth as much as $2 billion. Infrastructure-focused private equity firm Seraya Partners is assessing strategic options for Cyan after receiving several offers to acquire the company, said James Chern…
French and Benelux stocks: Factors to watch
Here are some company news and stories that could impact the markets or stocks in France and Benelux. Credit insurer Coface SA announced a?Q1-26?net profit of '53.6 million euro, down '13.7% year-on-year. Eiffage, a construction and concessions company, reported Q1 revenues of 5.6 billion euro and an orderbook of 31.1 billion euro (up 5% year-on-year). The group confirmed its outlook for 2026 but noted that it could be changed if the Middle East crisis had a greater impact on European countries. Eutelsat, the European satellite operator, reported revenue for its third quarter that was broadly in line market expectations.
Gulf Marine Services' profit in UAE plummets following vessel evacuation
Gulf Marine Services PLC reported on Friday a 24% drop in its first-quarter profits after being instructed by the UAE-based firm to evacuate four vessels from a Gulf Cooperation Council country in March as a precautionary measure because of the Iran War. U.S. and Israeli strikes against Iran, which began late in February, have seen Iran launch retaliatory actions across all six GCC countries, effectively closing Strait of Hormuz,?throughwhich about a quarter of global oil supply passes. Gulf Marine Services, a company that provides offshore marine support services…
Climate records were broken in nearly all of Europe last year as temperatures soared above average.
Scientists from the EU and World Meteorological Organization reported that?2025 was a hotter than average year for?wildfires and sea temperatures, and for heatwaves. Climate change is accelerating, they said. In their annual climate report, the WMO and EU's Copernicus Climate Change Service reported that 95% of Europe had above-average temperatures. Wildfires burned more than one million hectares - an area bigger than Cyprus, making it the largest annual total ever recorded. The findings show that climate change has increasingly…
China and India make strategic investments in clean energy, which is not popular in the West
In the wind-swept grasslands in Inner Mongolia (northern China), towering white turbines are lining hilltops as sentinels, guarding a hydrogen industry Beijing wants to take away from coal. The project is part of the largest of its kind, a $2 billion venture that uses renewable energy to power banks of electrolysers which produce the?molecules required for fertilizer production, marine fuel, and low-emissions steelmaking. India's commitments to "green hydrogen" are more aggressive and concrete than China's. New Delhi, backed by $2.1 billion in subsidies, is targeting 5,000,000 metric tons of "green hydrogen" annually by 2030.
Quotations-Reactions from industry leaders and businessmen to Iran's statement that Hormuz was open
Iran's Foreign Minister said that the?Strait of Hormuz is open to all commercial vessels after a ceasefire agreement was reached in Lebanon. The shipping industry and other world leaders have weighed in on the Iranian Declaration. "If it represents a move towards opening, then that is a positive development." The situation is not resolved, as there are still many uncertainties. These aspects must be clarified prior to any assessment of transit. "We are now assessing the new situation, and the risks that it entails." A spokesperson stated that for the moment, "we are still refraining" from crossing the strait.
Zelenskiy pledges increased security cooperation with Turkey in Istanbul
After meeting with his Turkish counterpart Tayyip Erdogan on Saturday in Istanbul, Ukraine's president Volodymyr Zelenskiy called for a?greater co-operation between the two countries. Kyiv is seeking to capitalize its wartime experience?on an international stage. Zelenskiy stated that he and the Turkish President had agreed on "new steps" to be taken in the security cooperation, and that the teams would finalise details soon. "This is especially true in the areas where we can help Turkey: expertise and technology," he wrote via Telegram. Erdogan told Zelenskiy that Turkey would support the negotiations between Ukraine Russia to end war.
A krill harvesting vessel and an activist vessel collide off Antarctica
Aker QRILL, the owner of the vessel, confirmed that an environmental activist vessel had collided with a Norwegian krill harvesting vessel on Tuesday, damaging its hull. The Captain Paul Watson Foundation's 65-metre Bandero vessel, operated under the Norwegian flag, deliberately struck the trawler Antarctic Sea. Aker QRILL reported that Bandero hit near the stern, where Aker QRILL's diesel fuel tank is located, causing only minor damage. It shared photos and videos of the incident. If the steel plates (...) ruptured, a spill could have occurred.
Japan's Nikkei soared as Trump claimed US negotiations ended the Iran war
The Nikkei share average in Japan rose by the most since a week on Wednesday. This was backed up by cautious optimism about the Middle East crisis moving 'towards a possible settlement? after recent volatility. The Nikkei Index benchmark rose by 2.87%, closing at 53,749.62. This is the largest percentage increase since March 18. The Topix index rose 2.57% to 3,650.99. U.S. president Donald Trump stated on Tuesday that the U.S. is making progress in its efforts to end the war with Iran. Like many global markets in recent years…
Japan's Nikkei soars on optimism about Iran peace plan
The Nikkei average rose by a little over 3% on Wednesday. This was due to cautious optimism that the Middle East Crisis could be moving toward a possible settlement following recent volatility. The Nikkei 225 Index, the benchmark index, grew by 2.93% to reach 53784.43. The Topix index rose 2.5% to 3,648.78. Donald Trump, the U.S. president, said that on Tuesday that the U.S. is making progress in its negotiations to end war with Iran. Like many other global markets, Japanese stock prices have fluctuated on signs of conflicting escalation or an end to hostilities.
Iran War causes major disruptions in oil and gas
U.S. and Israeli war against Iran, and the attacks of Iran on Gulf neighbours has caused oil and natural gas production to stop in the Middle East. The Strait of Hormuz is the world's most important oil artery. It handles 20 percent of the global oil and LNG supplies. Saudi Aramco, world's largest oil exporter, warned on Tuesday of "catastrophic" consequences for the global oil market if the Strait does not open. Saudi Arabia's oil production has been cut only slightly, to 9.8 million bpd so far from its OPEC quota at 10.1 million bpd according to Energy Aspects.
Iran War causes major disruptions in oil and gas
U.S. and Israeli war against Iran, and Tehran's attacks upon Gulf neighbours has caused oil and gas?exports to be disrupted and production stopped. Sources say that Saudi Aramco, the world's largest oil producer, cut its output Monday. The Strait of Hormuz is the most important oil artery in the world, and it handles 20% of the global oil supply. Two sources reported on Monday that Aramco had begun reducing production at two of its fields. Saudi Arabia is the top oil exporter in the world. In February, it produced roughly 10.3 million barrels of crude oil per day.