Africa
Kosmos Energy makes gas discovery offshore Senegal
Kosmos Energy announced on Wednesday that its Guembeul-1 exploration well, located in the northern part of the St. Louis Offshore Profond license area in Senegal, has made a gas discovery. Located approximately five kilometers south of the basin-opening Tortue-1 gas discovery (renamed Ahmeyim) in ap
Angola LNG starts recommissioning
The Chevron-operated $10 billion Angola LNG project has reportedly started recommissioning process. According to a report by Reuters, a spokesman from Angola LNG confirmed that the project started re-commissioning, declining to comment when the first cargo of chilled gas is expected to leave the pla
VAALCO’s H2S plans off Gabon shelved until oil prices recover
VAALCO Energy (VAALCO), an oil production company, is putting off its offshore Gabon Etame Marin Crude Sweetening Project (CSP) until oil prices recover to levels that support positive economic returns. “Although over 15 potential solutions were identified and evaluated to remove hydrogen sulfide (H
Preparations in Full Swing for the 21st World Dredging Congress
Western Dredging Association (WEDA) is gearing up for the 21st World Dredging Congress and Exposition (WODCON XXI) that will take place in Miami this June. Considered the most important and anticipated event for dredging professionals worldwide, WODCON is the only global event dedicated exclusively
Crude Oil Tanker Market to Surge in 2016
The crude oil tanker market is expected to grow strongly in 2016, with projected fleet increase of 4.3%, BIMCO said. Most of the new tankers will be delivered in the second half of 2016 and the demolition activity is likely to stay subdued as the market enjoys high rates. Following a considerably qu
Vroon supports Glen Lyon FPSO tow
Dutch shipping company Vroon has reportedly won a charter deal from oil giant BP for its anchor handler VOS Chablis, to support an FPSO towing operation. According to data provided by Clarksons, Vroon is supporting the tow of the recently delivered Glen Lyon FPSO. The data further shows that another
ExxonMobil: natural gas demand to rise 50 pct
Texas-based energy giant ExxonMobil said in a report on Monday that natural gas and LNG are expected to meet about 40 percent of the growth in global energy needs and demand for the fuel will increase by 50 percent. “In 2040, oil and natural gas are expected to make up nearly 60 percent of global su
BW says Egypt FSRU operating at full capacity
Shipping company BW said Monday its FSRU BW Singapore, used as Egypt’s second LNG import terminal in Ain Sokhna Port, has been in full operation since October 2015. “Since operations commenced, BW Singapore has carried out more than 10 Ship-to-Ship (STS) operations and sent out between 500-600 mmscf
Wood Mac: Cost savings advanced deepwater projects in 2015
Wood Mackenzie’s mid-year prediction that only ‘a handful’ of major projects would make financial investment decision (FID) approval in 2015 proved close enough – only a few large upstream developments achieved the green light during the year, Wood Mackenzie, a global energy consultancy provider, sa
ExxonMobil: Oil & gas will make up 60 pct of global supplies in 2040
Global energy demand will increase 25 percent between 2014 and 2040, driven by population growth and economic expansion, ExxonMobil, an oil and gas major, said on Monday in the 2016 edition of The Outlook for Energy. At the same time, energy efficiency gains and increased use of renewable energy sou
Vessel Ordering Down 40% in 2015
Overall contracting of new vessels in 2015 dropped by 40% to 1,306 units from 2,162 in 2014, with estimated newbuild investment falling from USD 113bn to USD 69bn, according to Clarksons Research. Investors abstained from newbuild opportunities due to tough market, and the overall newbuilding price
BIMCO: Containerships Speeding Up
The lower fuel price may not be such a blessing for containership owners after all, especially with relation to slow-steaming which was originally introduced as a way to deploy more ships without increasing capacity on the strings. Nevertheless, despite lower bunker costs that have been warmly welco