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UK’s fiscal and regulatory hurdles pull the plug on FPSO buy as North Sea oil project awaits policy reset

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A deal for an FPSO, picked for an oil redevelopment project in the North Sea, has been taken off the table as New European Offshore (NEO Energy) and its partners, Serica Energy and Jersey Oil & Gas (JOG), continue to wait clarity on the fiscal and regulatory woes arising from the UK’s current oil and gas policy conundrums. The post UK’s fiscal and regulatory hurdles pull the plug on FPSO buy as North Sea oil project awaits policy reset appeared first on Offshore Energy.

UK prospects in hydrogen flight could be delayed by storage challenge | Hydrogen

The UK’s prospects in liquid hydrogen (LH2) aviation could be held back by critical gaps in on-aircraft cryogenic hydrogen fuel storage, a new report from the Aerospace Technology Institute’s Hydrogen Capability Network has warned. The report, which maps out the UK’s cryogenic and hydrogen materials testing landscape, identified a lack of mechanical, thermal, and micro/nano-scale non-destructive testing under hydrogen conditions, which are critical for ensuring the safety and efficiency of LH2-powered aircraft. Currently, only a single mechanical testing capability is being commissioned, at Cranfield University, while other testing areas remain underdeveloped. Testing capabilities exist across several UK academic institutions and research organisations, including the National Physical Laboratory, the University of Oxford, and the UK Atomic Energy Authority. However, capacity remains limited, and expansion is needed to support the UK’s ambitions in zero-emission aviation, the report… Read More »UK prospects in hydrogen flight could be delayed by storage challenge | Hydrogen

UK player inks acquisition and farm-out deals for assets off Africa

After inking one deal to buy and two deals to sell a portion of its stakes in assets offshore Namibia and Cameroon, two local subsidiaries of the UK-based oil and gas company Tower Resources are seeking partner and government approvals for the transactions. The post UK player inks acquisition and farm-out deals for assets off Africa appeared first on Offshore Energy.

UK oil & gas duo mulling over potential merger

Serica Energy and EnQuest have taken steps to engage in talks over a potential business combination that has the opportunity to create a bigger combined company with a total market capitalization of nearly $1 billion. The post UK oil & gas duo mulling over potential merger appeared first on Offshore Energy.

CMA CGM plans to pour $20 billion into US maritime sector in next four years

French shipping and logistics major CMA CGM has decided to invest $20 billion over the next four years to strengthen the U.S. maritime transport and logistics, boosting the maritime economy and fostering shipbuilding capabilities. The post CMA CGM plans to pour $20 billion into US maritime sector in next four years appeared first on Offshore Energy.

REGENT’s Viceroy seaglider prototype embarks on sea trials (Video)

REGENT Craft has revealed the first full-scale seaglider prototype and completed the first on-water tests, kicking off sea trials that are expected to culminate in the first human seaglider flight in mid-2025. The post REGENT’s Viceroy seaglider prototype embarks on sea trials (Video) appeared first on Offshore Energy.