Africa
Yildırım Holding Set on Investing USD 750 Mln in Ecuador
Turkish port operator Yildırım Holding has mapped out an extensive global investment plan as the company reveals plans of future growth. Namely, the company has earmarked an investment worth up to USD 750 million in a port development project in Ecuador, which will be Turkey’s biggest investment in
Ocean Rig gets another rig contract termination
Ocean Rig UDW, a global provider of offshore deepwater drilling services, announced on Tuesday that one of its drilling contracts has been terminated. Specifically, on February 11, 2016, Total E&P Congo gave notification to terminate for convenience the long-term contract of the 7th generation ultra
Another Tanker Seized in Libya amid Gas Smuggling Claims
Another international tanker got caught up in a dispute between the two opposing governments in Libya over alleged oil and gas smuggling. Namely, a Sierra-Leone flagged oil tanker, identified as the Captain Khayyam, was seized by the Libyan authorities under suspicion of illegally entering Libyan wa
Nexans’ cables for Total’s Egina FPSO
Nexans has been selected to be the unique supplier of cabling to Samsung Heavy Industries’, turnkey contractor for Total’s Egina floating, production, storage and offloading (FPSO) unit that will be located offshore Nigeria. According to Nexans, the contract awarded by Total to Samsung Heavy Industr
Ghana presses ahead with wave energy
TC’s Energy of Ghana and Seabased Africa signed a second commercial order for a further 5 MW development of the wave power plant at Ada Estuary, Ghana. The turnkey wave power plant will be produced in Seabased’s factory in Lysekil, Sweden, and be based on the new, larger S 2,7 wave energy converter
Popular news, February 8 – 14, 2016
Popular news, February 8 – 14, 2016
Top news of the week February 8-13, 2016
Shell says to use own cash to fund BG deal after cancelling $14.4 billion loan Hague-based LNG giant Shell said Thursday it has cancelled a US$14.4 billion bridge credit facility intended to fund its takeover of BG group. Petronas, Sabah Energy scrap Malaysian LNG project Petronas’ unit, Petronas Ga
ISWAN: Nigerian Court Orders Release of Nine Asteris Crew Members
A court in Nigeria has ordered the release of nine seafarers that were held in the country since the arrest of their ship in March 2015. The ship ‘Melilli’, also known as ‘Asteris’, was arrested in March 2015 in Nigeria on charges of illegal oil trading. Some of the seafarers were imprisoned, and ot
Drewry: Newbuildings Turn Up the Heat on Chemical Shipping Rates
Chemical shipping freight rates for both contracts of affreightment and spot cargoes will be under pressure throughout 2016, as there are some new operators looking to break into the long-haul trade routes, according to Drewry’s Chemical Forecaster. The prediction comes on the back of low bunker pri
Transocean picks up new deals. Newbuild drillship starts Shell ops
Offshore drilling contractor Transocean has been awarded several new contracts for its drilling rigs. In addition, the driller’s newbuild drillship started a contract with Shell. In the company’s latest fleet status report covering a period from October 2015 till February 2016, Transocean said that
IMO: No Reason for Trade Restrictions amid Zika Outbreak
There is no justification for restrictions on travel or trade due to the outbreak of the Zika virus, the International Maritime Organization (IMO) said in a circular letter. The conclusion was reached at the Emergency Committee of the World Health Organization (WHO), convened in February 2016. The a
BP outlook: gas will be the fastest growing fossil fuel
UK-based oil and gas giant BP expects fossil fuels to remain the dominant form of energy over the period to 2035, according to the 2016 edition of the “BP Energy Outlook”. Despite the rapid growth of other sources, fossil fuels “will remain the dominant form of energy over the period to 2035, meetin