Africa
Oil to average just over $40 in 2016, biggest cut to forecasts in a year: poll
Oil prices will average just over $40 this year, the biggest cut to monthly forecasts in a year, as an influx of Iranian barrels hits an already-saturated world market, a Reuters poll showed on Friday.
Report: Sakhalin-2 LNG production hit by technical glitch
The Sakhalin-2 project is reportedly experiencing production problems at its 9.6 mtpa LNG export facility located on Sakhalin Island, in Russia’s Far East region. A technical “glitch” occurred on January 26 at a gas compressor and the plant is evaluating the impact of the accident on production and
Drewry: Half of Over 12-Year-Old Capesizes Need to Go
If dry bulk ship-owners collectively removed half of all capesize ships over 12 years old, equating to around 20 million dwt of capacity, it would enable earnings to return to profitability by 2018, according to the latest estimates from Drewry. The shipping consultancy believes that dry bulk shippi
Sterling sheds Mauritanian block after underwhelming seismic results
Sterling Energy plc has decided to relinquish its stake in the Block C-3, offshore Mauritania, after seismic data shows no firm reason to press ahead with exploration. As part of the withdrawal, the company said it would assign its entire 40.5% participating interest in the production sharing contra
Water-Related Mining Challenges to Be Discussed in Africa
The sustainability of water resources is becoming a key challenge for the growth and long-term survival of the mining sector in many countries. This is why the Netherlands Consulate General in Cape Town together with Dutch company partners and the Netherlands Water Partnership (NWP) will be organizi
Star Reefers Adding Service from Vlissingen to Ecuador
Shipping line Star Reefers is launching a new weekly liner service from Zeeland’s port of Vlissingen to Ecuador, for containers and other cargo as of February 3. The decision is part of expansion of the existing Saint Petersburg-Ecuador service, which will make an interim stop in Vlissingen to take
2016-2020 Outlook: Aframaxes to Outperform Larger Crude Tankers
Limited supply growth in the Aframax sector of only 3.5% through the end of 2020 in addition to paradigm shifts in demand such as US exports and expanded Panama Canal opening will enable this sector to outperform the larger crude tankers, according to the latest report from McQuilling Services. “Afr
BREAKING: Shell-BG merger approved
BG Group’s shareholders on Thursday approved the multi-billion merger with Hague-based energy giant Shell, creating the world’s largest LNG company. This is Shell’s biggest ever acquisition and the largest oil and gas deal since Exxon bought Mobil in 1999. According to a statement by BG, 99.53 perce
Dynamic to Deliver Deck and Jacket for Eni’s Nene Field
Dynamic Industries secured an award for the refurbishment of a 500-ton production platform and 300-ton jacket for Eni’s Nene field. The offshore production facility is expected to be loaded out in May 2016 for Nene field located in The Republic of Congo. The Nene field, which is expected to contain
Dynamic to spruce up Eni’s Nene
Dynamic Industries, an offshore services company, has announced a new award for the refurbishment of a 500 ton production platform and 300 ton jacket for Eni’s Nene field, offshore Congo. Dynamic said it would be using its inventory of used structures. The offshore production facility is expected to
Kosmos Hits Gas Off Senegal
Kosmos Energy announced that its Guembeul-1 exploration well, located in the northern part of the St. Louis Offshore Profond license area in Senegal, has made a significant gas discovery. Located approximately five kilometers south of the basin-opening Tortue-1 gas discovery (renamed Ahmeyim) in app
InterMoor Names New General Manager in Nigeria
InterMoor, an Acteon company, has appointed Folabi Bolatiwa as general manager in Nigeria. Bolatiwa joined InterMoor in 2007 as an engineer and has more than 10 years of experience in the offshore oil and gas industry, gained in engineering, operations and management roles. He served as InterMoor’s