Africa
HHI, GE, LR Join Forces on 14K Gas-Powered Boxship Design
South Korean shipbuilder Hyundai Heavy Industries (HHI) signed a joint project with US-based technology conglomerate General Electrics (GE) and international classification society Lloyd’s Register (LR) to develop gas turbine powered, electrically driven, 14,000 container ship design. Gas turbines a
BG Egypt suspends some development wells after price disagreement
BG Egypt has suspended work at some development projects in Egypt after the company was unable to reach agreement over the price of gas with the government, an official at the Egyptian General Petroleum Corp (EGPC) told Reuters on Tuesday.
Gabon extends deadline for deep water licensing round bids
Gabon has extended the bid submission deadline for the 11th Gabon Deep Water Licensing round, which was formally opened on October 27th 2015. According to information shared by the French seismic company CGG, the bids extension was announced at the 6th African Petroleum Congress & Exhibition in Abuj
MAST: Maritime Industry Faced with Myriad of Security Threats
Conflicts and tensions in the Middle East, Far East and North and sub-Saharan Africa pose a real threat to the maritime environment and some of the world’s most important shipping lanes, maritime security company MAST warns. “Concern over the decision to reduce the High Risk Area (HRA) in the wester
MSI: Tanker Earnings to Bounce Back in Q2
VLCC, Suezmax, Aframax and product tanker rates are expected to rebound in the second quarter of 2016 supported by oil market fundamentals’ recovery, according to Tanker Freight Forecaster from Maritime Strategies International. Though last month saw a fall in VLCC spot earnings, rates are set to ri
Gabon Extends Bid Deadline for Deep Water Acreage
Gabon has extended bid submission deadline for participation in the new 11th licensing round which will focus on five blocks covering the country’s deep water acreage in the South Gabon Salt Basin. The round was formally opened on October 27, 2015 by Minister for Petroleum, Etienne Dieudonné Ngoubou
Allianz: Shipping Losses Down in 2015
Shipping losses continued their long-term downward trend with 85 total losses reported worldwide in 2015, according to Allianz Global Corporate & Specialty SE’s (AGCS) fourth annual Safety and Shipping Review 2016. Although the number of losses remained stable year-on-year, declining by just 3% comp
Eni slashes breakeven to $27. Sets $7B divestment target
Italian oil company Eni has set a $7 billion divestment target for the period between 2016 and 2019, slashed the breakeven oil price and said the industry needs to understand that the low oil prices are actually not low, but normal. The company’s CEO Claudio Descalzi said that in 2015, Eni achieved
Popular news, March 13 – 20, 2016
Read the most popular news of the March 13 – 20 week.
Highlights of the Week
Subsea World News has put together a recap of the most interesting articles from the previous week (March 14 – March 20). Aker Solutions is reducing management and other staff of its subsea business in Norway. As many as 600 permanent positions at facilities in Fornebu, Moss, Tranby and Ågotnes may
Top news of the week March 14-19, 2016
FERC denies Jordan Cove LNG application The United States Federal Energy Regulatory Commission denied Jordan Cove LNG’s application to build and operate a terminal on the North Spit of Coos Bay in Coos County, Oregon. USA: Cheniere to export second Sabine Pass LNG cargo U.S. LNG player Cheniere is t
Update: Statoil says situation in Algeria ‘calm’ after gas plant attack
(Updated with statements by Statoil, BP, 18.03. 2016) Norwegian energy giant Statoil said Friday that the Salah Gas asset in Krechba, Algeria was hit by “explosive munitions” fired from a distance. Statoil operates the In Salah dry gas fields together with BP and the Algerian state oil and gas compa