Africa
Blacklisted Indian-Flagged Tanker Returning to Libya
The Indian-flagged tanker that was blacklisted by the UN Security Council for carrying ‘illicit’ oil cargo from Libya’s rival government is heading back to Libya after being denied port entrance to Malta, the ship’s AIS data from Marine Traffic show. The Distya Ameya tanker is expected to reach Al Z
Kenmare Resources Releases Q1 2016 Trading Update
Kenmare Resources plc, an Irish incorporated mining company, has just released a trading update for the first quarter ending 31 March 2016. The principal activity of the Group is the operation of the Moma Titanium Minerals Mine which is located on the north east coast of Mozambique and has been in c
Ophir says Fortuna FLNG talks with Schlumberger terminated
London-based Ophir Energy said on Friday it has terminated discussions with Schlumberger regarding the participation in the Fortuna FLNG project in Equatorial Guinea. The two companies signed in January a non-binding agreement under which Schlumberger would receive a 40% economic interest in the For
UN Blacklists India-Flagged Tanker for ‘Illegal’ Oil Cargo
The UN Security Council Committee has blacklisted India-flagged tanker Distya Ameya for being involved in attempts to “illicitly export crude oil from Libya.” Namely, the tanker is reported to have loaded 650,000 barrels of crude oil shipped by the rival eastern Libya government for UAE-based DSA Co
Tullow to restart Jubilee production ‘in the next few days’
Following an issue with the turret bearing on the Jubilee field FPSO, offshore Ghana, the oil exploration and production company Tullow Oil said on Thursday that off-take and production from the field will resume in the next few days. A technical investigation of the Jubilee field FPSO Kwame Nkrumah
Sterling exits Ambilobe block to focus on shorter cycle assets
Sterling Energy, an oil and gas exploration company, has issued a notice of withdrawal from the Ambilobe block, offshore Madagascar, to its joint venture partner Pura Vida Mauritius. Sterling is the operator of the Ambilobe block that is located in the Ambilobe deep water basin, offshore north-west
Pirates Free Kidnapped Turkish Crew
Six Turkish crew members of Malta-flagged tanker MT Puli who were kidnapped by pirates over two weeks ago while sailing off Port Harcourt, Nigeria have been released. “The six of them have been released and are back in Istanbul. All are in good health,“ Fehmi Ulgener, a lawyer for the shipping firm
Report: Global oil supply faces shortfall if exploration success fails to improve
The global oil market could face a supply shortfall of 4.5 million b/d by 2035, if exploration success doesn’t improve, a new study by Wood Mackenzie warns. Wood Mackenzie says discoveries in recent years have been disappointing, with the volume of liquids discovered per year more than halving over
44 Seafarers Captured as Violence Rises in West Africa
44 seafarers have been captured so far this year amid growing violence off the coast of West Africa, new figures from the International Chamber of Commerce (ICC) International Maritime Bureau (IMB) show. Worldwide, IMB recorded 37 piracy and armed robbery incidents in the first quarter of 2016, down
Aker Solutions Picks Glassfiber Produkter for Kaombo Subsea Protection
Glassfiber Produkter has been awarded a contract from Aker Solutions as part of its Total Kaombo project in Angola. Kaombo is one of the world’s largest subsea developments, located in Block 32 about 150 kilometers off the coast of Angola. According to the company, the contract will see Glassfiber P
Baltic Dry Index Surges to 704 Points
A recent Capesize market uptick, caused by an increase in iron ore trade, higher steel prices and a rise in scrapping, has revealed its impact as the Baltic Dry Index continued to grow, reaching a mark of 704 points on April 26, up by 14. The Capesize index was up by 48 points, hitting 1135, the Sup
Jan de Nul Wins Maputo Port Dredging Contract
UAE-based company, Jan de Nul Dredging Middle East, and EPDM, the main shareholders in the Maputo Port Development Company, MPDC, officially signed the Maputo Port dredging contract last week. The project will be financed by a consortium of banks headed by the BCI, Commercial and Investment Bank, wi