CMF/EUNAVFOR Industry Releasable Threat Bulletin 18

13 March 2020 Members with ships passing through or operating in the Red Sea and the Gulf of Aden (GOA) are advised to refer to the Industry Releasable Threat Bulletin (IRTB) produced by Combined Maritime Forces (CMF) and European Union Naval Force (EU NAVFOR). The…

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OMV inks deal for controlling interest in Borealis

OMV AG, Vienna, has entered a deal to take controlling interest of Borealis AG, one of Europe’s leading petrochemical companies.   OMV – which currently owns a 36% stake in Borealis – has agreed to buy an additional 39% interest from Mubadala Investment Company for…

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A Global Natural Gas Market Is Emerging

Financial derivatives linked to liquefied natural gas are mushrooming as a market crash and a boom in physical trading creates an appetite to manage risk and provides opportunity to speculate on prices.   The growth is helping speed up the development of a truly global…

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Mubadala takes more interest in Thai field

Mubadala Petroleum has increased its interest in its operated G1/48 Concession in the Gulf of Thailand, which includes the Manora field.   Tap Oil, a partner in the project, said on the 12th March that Northern Gulf Petroleum had agreed to transfer its 10% shareholding in…

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ABB to power Japanese wind turbine installation vessel

Japan Marine United Corporation has contracted ABB to provide power and control technologies for the wind turbine installation vessel it is building for Shimizu Corporation.   This is the first self-elevating wind turbine installation vessel built in Japan.   ABB will deliver a closed ring…

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Total to build the largest battery-based energy storage project in France

The development of renewable energy which is intermittent and decentralised requires the security of the electricity grid through flexible electricity storage capacities, especially in the form of batteries.   Total has launched a battery-based energy storage project in Mardyck, at the Flanders Centre, in Dunkirk’s…

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