Africa
Top news of the week March 7-12, 2016
Chevron kicks off production at Gorgon LNG Oil and gas giant Chevron said on Monday it started producing liquefied natural gas at its Gorgon LNG project on Barrow Island off the northwest coast of Australia. Angola LNG to ship cargo soon, Chevron CEO says First liquefied natural gas cargo after a tw
Popular news, March 7 – 13, 2016
Read the most popular news of the week.
Highlights of the Week
Dredging Today brings you an overview of the most popular stories from the past week (March 7-13). Ravestein Builds World’s Largest Backhoe for Boskalis The new backhoe dredger Magnor, currently being built for Boskalis by Ravestein, will be the largest and most efficient backhoe dredger in the wo
Oil prices rise as IEA says market could have bottomed
By Libby George LONDON (Reuters) – Brent crude was on track for its third weekly gain on Friday, supported by an optimistic report from the International Energy Agency that said the market may have reached its bottom. Still, analysts cautioned that a large glut of oil remained, with Goldman Sachs wa
Mamish: No Alternative to Suez!
The Suez Canal is the main route for world trade, and no other alternative can take its place in the field of maritime transport, Admiral Mohab Mamish, Chairman and Managing Director of the Suez Canal Authority said responding to media reports that vessels are changing routes to the Cape of Good Hop
GAC South Africa Taps Into Vessel Lay-Up Opportunities
Responding to a growing demand from the oil & gas sector against a background of record low petroleum prices, GAC South Africa has availed of the market situation by adding lay-up and warm stacking to its portfolio of services. According to GAC, ports in South Africa and its neighbour Namibia offer
Contract Hat-Trick for BOA Offshore
Norwegian offshore services player, BOA Offshore, has, through its subsidiary BOA OCV AS, secured two additional contracts in West Africa , following the completion of a subsea installation campaign, by the construction vessel BOA Sub C. The two contracts are for a combined period of up to 130 days
Eni carries out first production test on Zohr field
Italian oil company Eni has performed the production test of Zohr 2X, first appraisal well of Zohr discovery, in the Shorouk block, offshore Egypt. The Italian company completed the drilling of the first appraisal well of Zohr discovery in February. On Thursday, Eni reported that, during the test, 1
Subsea Manufacturers to Feel Full Force of Downturn in 2016
A new report by energy research and consulting service, Douglas-Westwood (DW), predicts a major decline in deepwater oil and gas projects spending in the next four years. Namely, DW anticipates deepwater expenditure to total $137 billion between 2016 and 2020. A rapid 35 per cent drop compared to DW
Four Tanker Crew Kidnapped off Nigeria
At least four crew members were kidnapped by pirates on March 5 when a group of armed pirates hijacked a chemical tanker underway some 32nm South West of Bonny Island, Nigeria. “Ten armed pirates in a black speed boat approached and opened fire at a chemical tanker underway. They boarded the tanker
Ophir braces for challenging year ahead. Fortuna FID on track
London-based oil and gas exploration company, Ophir Energy, has posted a net loss for the 2015, and prepared for a challenging 2016 with reduction in capital expenditure. The company on Thursday reported a loss after taxation for the year of $322.5 million, compared to a profit of $54.8 million in 2
Drewry: Megaships Not Delivering Mega Savings
The economies of scale that have been a key feature of the liner industry, may be running out, shows Drewry’s study of the operational and financial impacts on lines, terminal operators, ports and other supply chain stakeholders as vessel size increases up to and beyond 18,000 teu. Since 2009, leadi