Africa
Top news of the week January 2-7
Report: Asia becoming largest importer of U.S. LNG Cheniere’s Sabine Pass LNG terminal in Louisiana shipped nine liquefied natural gas cargoes to Asian countries during December. Chevron resumes production at Gorgon LNG Train 1 US-based energy giant Chevron resumed production at the first liquefacti
Platts: Oil stock overhang could disappear by 3Q 2017
With 2016 behind us, energy intelligence groups have begun dishing out their takes on the energy sector for 2017. One of them, S&P Global Platts, an independent provider of information and benchmark prices for the commodities and energy markets, has shared its view on what to watch this year when it
Oil prices post gains on OPEC hopes, but doubts linger
Oil prices edged higher on Friday as output cuts by OPEC members met with lingering concern that other producers could try to shirk their share of planned decreases aimed at curbing global oversupply.
Hyperdynamics: Drillship change for Fatala well (Guinea)
After it recently announced a deal to take the Pacific Bora drillship for its Guinea drilling, oil company Hyperdynamics on Friday said there has been a change of plan – or rather, a change of drillship. Namely, the oil firm said it has accepted a proposal from its drilling contractor, Pacific Drill
Jiangnan Shipyard Clinches Order for Two LPG Carriers
Shanghai-based Jiangnan Shipyard has received an order to construct two fully press liquefied petroleum gas (LPG) carriers for an Algerian shipping firm, according to data provided by VesselsValue. Under the deals signed with Hyproc Shipping, the Chinese shipbuilder is scheduled to deliver the new s
Vaalco restarts Avouma well after pump issues
Houston-based Vaalco Energy has restarted production at the Avouma 2-H well on the Avouma platform offshore Gabon after a replacement of the electric submersible pump (ESP) system. Vaalco said on Thursday that the replacement was done via a hydraulic workover unit and that the well is currently prod
Videos from OTEC Symposium now available online
OTEC Foundation has released the video recordings of the presentations delivered during a two-day OTEC Symposium held in Amsterdam late in October 2016.
Eni spuds exploration well offshore Libya
Italian oil firm Eni has started drilling an exploration well in the Mediterranean Sea, offshore Libya. The company on Wednesday spudded the exploration well B1-16/3 in located in the Contract Area “D” (NC41). According to the Libya National Oil Corporation, the exploration well will be drilled in a
Pancontinental pays Tullow’s cash call despite contesting it
Pancontinental Oil & Gas will pay a cash call made in December by Tullow Oil regarding the management costs of a licence offshore Namibia. The company has previously disputed the claim, and is still disputing it, however it said on Thursday, the structure of the Joint Operating Agreement requires pa
IADC: Spotlight on FIDIC Blue Book
In 1999, Federation Internationale des Ingenieurs-Conseils (FIDIC) or the International Federation of Consulting Engineers published new standard forms of contract, but those contracts did not meet the specific needs of dredging and reclamation work. The International Association of Dredging Compani
Moore Stephens: Shipping to Find Ways to Survive Downturn
The shipping industry is expected to use a mixture of experience and innovation to navigate what is likely to be another volatile year for the industry in 2017, shipping adviser Moore Stephens said. The oil prices should continue on an upward trend on the strength of the recent OPEC production cuts.
Alphaliner: Fresh Hopes for Recovery in Container Shipping
Although the container shipping market remains fundamentally imbalanced, the new year brings with it fresh hopes for a recovery, according to Alphaliner. 2016 saw a number of records, most of them marking new lows for a container shipping market that continues to suffer from excess capacity, with th