Africa
Oil falls on U.S. supply record, weak demand outlook
Oil slid on Thursday, dented by record U.S. crude inventories at the Cushing delivery point, worries about the demand outlook, and as Goldman Sachs said prices would remain low and volatile until the second half of the year.
Golar LNG Partners to Buy FSRU Golar Tundra for USD 330 Mln
Golar LNG Partners LP has entered into an agreement with Golar LNG Limited to buy its 170,000 cbm floating storage and regasification unit (FSRU) Golar Tundra. The FSRU, built by South Korean Samsung Heavy Industries, will be sold for a price tag of USD 330 million, minus a net lease amount of appro
BP Energy Outlook: Gas the fastest growing fossil fuel, oil market to rebalance
British oil giant BP has issued its Energy Outlook 2016, forecasting how the energy landscape will look between now and 2035. According to the report fossil fuels are expected to remain the dominant form of energy powering the global expansion: providing around 60% of the additional energy and accou
BIMCO: Six VLCCs Mark Strong Delivery Start in 2016
Six new Very Large Crude Carriers indicate that 2016 is off to a flying start when it comes to delivering brand new VLCCs from shipyards in South Korea and China to owners and investor across the globe, according to BIMCO. The six new VLCCs were delivered in a strong winter market. Having reduced sl
Rana Wins FSO Gaza Diving Job
EMAS AMC has hired Italian diving specialist Rana to provide diving services for the installation and hook up of the new floating storage and offloading (FSO) vessel Gaza. The FSO Gaza will replace the FSO Sloug at Bouri field located 120 kilometers north of the Libyan coast in the Mediterranean Sea
Wind Leads the Renewables Bunch
Powered by 30,500 MW of new installations in China, the global wind power industry installed 63,013 MW in 2015, representing annual market growth of 22%, according to the Global Wind Energy Council (GWEC). Germany led a stronger than expected performance in Europe with a record 6 GW of new installat
Rana to support Emas in hook up and installation ops off Libya
Rana, a provider of diving and subsea services to the oil and gas industry worldwide, has been awarded a diving services contract by Emas AMC for the installation and hook up of the new floating, storage and offloading (FSO) vessel Gaza, offshore Libya. The new FSO Gaza will replace the FSO Sloug at
Drewry: To Slow Steam or Not to Slow Steam?
Bunker prices are now at a low level not seen since the early 2000s and with much lower marine fuel prices big containerships’ cost advantages are dwindling, according to Drewry Maritime Advisors. When bunker prices increased five-fold, to levels in excess of USD 600 per tonne, lines responded with
IEA: Global oil demand to ease back ‘considerably’ in 2016
Having peaked, at a five-year high of 1.6 million barrels per day (mb/d) in 2015, global oil demand growth is forecast to ease back considerably in 2016, to 1.2 mb/d, pulled down by notable slowdowns in Europe, China and the United States, the newly released IEA Oil Market Report (OMR) for February
MOOC Building with Nature Starts on February 29
The Massive Open Online Courses (MOOC) on ‘Building with Nature’ will start on February 29, 2016. During the course, a number of case studies will be discussed to deepen the knowledge of ecological and engineering principles. Leading Dutch engineers and environmental scientists will explain the Buil
Drewry: LNG shipping to remain under pressure
Earnings for liquefied natural gas shipping will stay under pressure this year as accelerating fleet growth and changing trade patterns will weaken supply-demand conditions, shipping consultancy Drewry said in a report. LNG vessel fleet growth is forecast to double in 2016 to 12%, compared to 6% in
Deal signed for Ghana’s Tema LNG project
Ghana National Petroleum Corporation and Quantum Power, the pan-African energy infrastructure investment platform, said on Tuesday they have signed heads of terms for the construction and operation of the LNG import facilities at Tema. The Tema LNG project will have a capacity of about 3.40 million