Africa
Xeneta: Price War Key Driver for Swapping Container Carriers
Price, risk management and loss of trust were identified as the main reasons why businesses end agreements with container ship carriers in a market currently riven by instability, the market intelligence platform for containerized ocean freight Xeneta said. “One might expect bad service to be the ma
Saipem clinches several drilling contracts
Italian oilfield services provider and drilling contractor Saipem has been awarded several new drilling contracts and extensions to existing contracts. The contracts of a combined value of around 150 million euros, are for work in Portugal, Norway, Morocco, Saudi Arabia, Kazakhstan and Latin America
Eni hits more gas off Egypt
Eni of Italy on Thursday said it has made a new discovery in the Baltim South West exploration prospect, located in the Baltim South license, in the Nile Delta, offshore Egypt.
IEA: Next five years to reshape global gas trade
The next five years will bring a reshaping of the global gas trade, the International Energy Agency (IEA) said Wednesday in its 2016 Medium-Term Gas Market Report. New liquefied natural gas (LNG) supplies are coming online just as demand growth in some major markets weakens, resulting in major shift
Heavily Loaded Tanker Thwarts Pirate Attack off Nigeria
A short period of calm seas in the Gulf of Guinea was interrupted as a group of pirates attempted to board a heavily loaded tanker while it was underway off the coast of Togo. Pirates aboard a mother vessel with two skiffs chased the tanker for some 20 minutes, according to the Maritime Trade and In
Global gas prices to remain under pressure
Over the past two years, weakening fundamentals and much lower oil prices have resulted not only in lower gas prices but also in strong convergence across regional benchmarks, the International Energy Agency (IEA) said. In the first five months of this year, the average differential between Asian LN
IEA: market rebalancing will take longer for gas than for oil
The process of market rebalancing is likely to take longer for gas than for oil, according to the International Energy Agency (IEA). While the IEA expects global oil markets to start rebalancing in 2017, it does not foresee oversupply in traded gas markets improving meaningfully before the end of th
Ghana to see swift increase of oil & gas output after Sankofa startup
First oil from the Sankofa development project, located offshore Ghana, is reportedly anticipated in the second half of 2017, and first gas output early in the following year. The startup is expected to rapidly increase Ghana’s oil and gas output, an official said. The project, located in the Offsho
Equatorial Guinea starts 2016 oil and gas licensing round
Equatorial Guinea’s ministry of mines, industry and energy on Monday launched the country’s oil and gas blocks licensing round 2016.
Subsea in May
Subsea World News has gathered all the highlights to bring you a summarized version of the most popular articles from the previous month. The greatest highlight last month, and so far this year, was the merger announcement between the largest provider of subsea equipment to the industry, FMC Technol
International offshore rig count drops YOY
Oilfield services provider Baker Hughes reported on Tuesday that the international offshore rig count for May 2016 was up by nine rigs sequentially and down by 55 rigs year over year. This is the second month in a row that the international offshore rig count is exhibiting similar behavior as Baker
Infographic: Shipping Industry Needs to Raise CSR Awareness
The shipping industry needs to increase Corporate Social Responsibility (CSR) awareness as on average less than 50 percent of the industry fully commits to related activities, according to the Shipping CSR500 Survey report released by SAFETY4SEA. Conducted in the first quarter of 2016, the Shipping