Africa
Russia’s Rosneft boss Sechin says no to OPEC oil cap
By Olesya Astakhova ISTANBUL (Reuters) – Igor Sechin, Russia’s most influential oil executive and the head of state-controlled energy giant Rosneft, said his company will not cap oil production as part of a possible agreement with OPEC. His comments underline how difficult it is for Russia to get it
Wind to Meet 5% of Global Power Demand by Year-End
The total installed wind capacity is expected to reach 500 GW by the end of 2016 and cover 5% of global power supply, according to the World Wind Energy Association (WWEA). The worldwide wind capacity reached 456,486 MW by the end of June 2016, out of which 21,714 MW were added in the first six mont
Wind to Meet 5% of Global Power Demand by Year-End
The total installed wind capacity is expected to reach 500 GW by the end of 2016 and cover 5% of global power supply, according to the World Wind Energy Association (WWEA). The worldwide wind capacity reached 456,486 MW by the end of June 2016, out of which 21,714 MW were added in the first six mont
Sodexo scores more work with Seadrill and Shell
Sodexo, a catering and facilities management company, has expanded two facilities management services contracts with offshore drilling contractor Seadrill and oil and gas major Shell. Sodexo said on Monday that Seadrill had been a client since 2008 and in that time Sodexo has expanded operations fro
BIMCO Calls IMO Study on Low Sulphur Fuel Availability in 2020 ‘Flawed’
International shipping association BIMCO has raised concerns over data on available fuel ahead of Marine Environment Protection Commitee (MEPC) decision on the 0.5% global sulphur cap implementation date. Namely, BIMCO said that the official International Maritime Organization (IMO) study which asse
Siemens to bid for South African LNG-to-power projects
Siemens engaged potential partners to bid on the US$3.7 billion LNG-to-power project scheme proposed by the South African Department of Energy.
Oil eases off four-month high as speculators doubt deal to cut output
By Karolin Schaps LONDON (Reuters) – Oil eased off four-month highs on Monday as doubts that oil producers can reach a meaningful output cut deal prompted some speculators to unwind bullish bets. Global benchmark Brent crude futures <LCOc1> were down 9 cents at $51.84 a barrel at 1029 GMT, around 2
Saudi Arabia’s Falih says OPEC should not crimp supply too tightly
ISTANBUL (Reuters) – Saudi Arabia’s Energy Minister Khalid al-Falih said on Monday that OPEC should not crimp oil supply too tightly and said he was optimistic a global production deal to limit supplies could be reached by November. Speaking at the World Energy Congress in Istanbul, Falih said OPEC,
Drewry: Container Carriers Still Face High Risk of Failure
Privately-owned container carriers could risk losing shippers’ trust if they do not provide any data on their level of indebtedness and balance sheet strength, according to shipping consultancy Drewry. The recent failure of South Korean carrier Hanjin Shipping has exposed the high level of financial
Sea Trucks’ vessel to work on deepwater field offshore Nigeria
Sea Trucks Group has received a contract award from an ‘international oil major’ to West African Ventures, Sea Trucks’ principle Nigerian business, for the provision of an accommodation vessel to a deepwater field, offshore Nigeria. Sea Trucks informed on Friday that The scope of work covers accommo
DW: Average spend for new upstream projects falls by 40 pct
Recently, OPEC announced production cuts as a strategy to reduce over-supply in the market and give a much-needed boost to oil prices. Without higher oil prices, many new projects are thought to be uneconomic. Or are they? According to its report on Monday, Douglas-Westwood has recently reviewed ove
Popular news, October 3 – 9, 2016
Popular news, October 3 – 9, 2016