Africa
Portugal to get Nigeria LNG cargo
REN’s Sines LNG terminal located on Portugal’s Atlantic coast is scheduled to receive a cargo of the chilled fuel from Nigeria’s Bonny export plant. The 148,565-cbm LNG Kano, owned by BW, is due to dock at the Sines import terminal on Friday, according to the shipping data by the port of Sines. Port
Report: O&M Market to Grow as Wind Energy Becomes Cheaper
The global wind Operations and Maintenance (O&M) is estimated to increase from USD 10 billion in 2015 to USD 17 billion by 2020, at a compound annual growth rate of 11.2%, according to research and consulting firm GlobalData. The company’s latest viewpoint states that technological developments have
IEA expects global oil demand growth to wind down in 2016
Crude oil prices eased to around $45 per barrel in August as a global supply overhang weighed and demand growth weakened, the International Energy Agency (IEA) said in its newly released IEA Oil Market Report (OMR) for August. Brent crude had threatened to break below $40 per barrel at the end of Ju
MSI: Future Shipping Cycles to See Structural Change
Excess shipyard capacity and a slowing but still considerable orderbook are the negative factors overhanging brighter prospects for shipping demand growth, according to Maritime Strategies International (MSI). MSI has forecast a structural change to future shipping cycles, “with shorter, sharper cyc
Shell’s Nigerian unit declares force majeure on gas supplies to NLNG
Shell Petroleum Development Company, a Nigerian unit of Shell has declared force majeure on gas supplies to the giant Nigeria LNG export facility located on Bonny Island. “The Shell Petroleum Development Company of Nigeria Ltd (SPDC) declared force majeure on gas supply to NLNG on 8 August 2016, fol
DW: global FLNG capex to hit $41.6 billion
Despite challenging market conditions, global capital expenditure on FLNG facilities is forecast to total $41.6 billion over the 2016-2022 period, according to a report by Douglas-Westwood (DW). The protracted oil price downturn has impacted the sanctioning of capital intensive liquefaction units ov
Alphaliner: Global Container Volumes Rise at Sluggish Pace
As the weak volume growth recorded in the first half of 2016 dragged full year volume projections down, Alphaliner said that the global container throughput is expected to grow by only 0.3% this year, marking the second lowest annual growth rate since 2009. Total throughput at the world’s top 30 con
ROVOP wins $4 million worth of contracts
Aberdeen-based operator of remotely operated vehicles, ROVOP, has won contracts whose total worth is around $4 million, spanning across the North Sea, Gulf of Mexico, West Africa, and Europe. The company said on Wednesday that the contracts are with clients across a number of sectors and include con
Infographic: How Shipowners Changed Behavior in 1H 2016
The infographic below, released by VesselsValue, shows the change in ship ordering, selling and scrapping activities in the first half of this year, when compared to the same period in 2015. The findings showed that there was a 52 percent reduction in spending on second hand vessels. In 2015, a tota
Oil slips to $45 as glut overshadows hope for producer action
By Alex Lawler LONDON (Reuters) – Oil fell below $45 a barrel on Tuesday after rallying to a two-week high the previous day, as concern about a supply glut outweighed hopes of producer action to prop up prices. In the latest sign of ample supplies, market intelligence firm Genscape reported a rise o
Erin Energy to Give Nitrogen Boost to Oyo-7 Well
During the second quarter of 2016, Erin Energy brought Oyo-8 well back online using a light well intervention (LWI) vessel, following a failure of the sub-surface controlled sub-surface safety valve (SCSSV). The Island Constructor vessel carried out the LWI service on the Oyo-8 well to open the SCSS
Erin Energy sees production loss after being hit with Oyo well trouble
Oil and gas company Erin Energy, formerly known as CAMAC Energy, has experienced issues with its Oyo-7 well, located in OML 120 offshore Nigeria, causing a production loss of about 1,400 barrels of oil per day. While the company managed to restart production at its Oyo-8 well during the second quart