Africa
India to invest more in Mozambique gas project
Minister of State Petroleum & Natural Gas Dharmendra Pradhan visited Mozambique where he held meetings with his counterpart the Minister of Mineral Resources & Energy, Pedro Couto, and Foreign Minister Baloi and called on Prime Minister Agostino Rosario.
Drewry: Container Lines Cutting Carbon Footprint
At least three factors have substantially cut the fuel consumption of containerships: slow-steaming, the trend towards larger, more fuel-efficient ships and restrictions placed by governments on ships coming into the ports, Drewry Supply Chain Advisors report in this month’s Logistics Executive Brie
Transocean: Two contracts in, one out, one rig to the scrapyard
Transocean, a Switzerland-based offshore drilling contractor, has notched up $26 million worth of rig contract extensions since its last update in March 2015. It has also lost a contract for one rig, and decided to scrap one. In its latest fleet update, Transocean Ltd. said it won contract extension
CAMAC awaits Oyo well production. Changes name to Erin Energy
CAMAC Energy Inc. has informed that the Floating Production, Storage, and Offloading vessel (FPSO) Armada Perdana will be ready for production from the Oyo-8 well, offshore Nigeria, in one week’s time. The owner of the vessel, Malaysia’s Bumi Armada Berhad, informed the company that the renewal of t
Spectrum Begins Orange Basin Survey
Spectrum has started a 3,500 kilometer Multi-Client 2D seismic survey in the Orange Basin to complete the 6,000 km survey over the Namibia & South Africa border. The survey ties any discoveries between Namibia & South Africa and provides continuous data coverage. The data is being collected by the v
Report: GE Oil & Gas to cut jobs to reduce costs
GE Oil & Gas is reportedly set to start staff cuts in an attempt to reduce costs. According to Evening Express, Aberdeen’s daily newspaper, the company has begun the restructuring process which includes job cuts. Evening Express quotes GE Oil & Gas spokesperson as saying: “GE Oil & Gas has started r
Cargo Ships Stranded off Yemen for Days
At least five merchant vessels loaded with food were anchored off Yemen unable to enter the country’s waters before being cleared by Saudi-led search teams, Reuters cited shipping data on Wednesday. The security situation in Yemen has deteriorated further with increasingly widespread armed conflicts
Propulsion Engines Market Set for Steady Growth
The global marine propulsion engines market is expected to reach USD 10.95 billion by 2020 from USD 8.23 billion in 2013, according to a new study by the US based market research and consulting company Grand View Research. Significant modernization in marine propulsion as a direct consequence of inc
Baltic Dry Index to Rebound in April
It seems that the worst is finally over for the bulker owners as the Baltic Dry Index (BDI) is expected to recover in April with stagnant supply and rising demand for vessels. According to UK-based shipping consultancy Drewry, supply is expected to slow down with a decline in newbuilding activity an
Schlumberger cuts 11.000 more jobs
Schlumberger, the world’s largest provider of services to the oil and gas industry, has announced a new round of job cuts. On top of the 9000 layoffs announced in January, the company has said it will let go 11.000 more workers, citing cuts in capex made by oil companies due to falling oil prices. S
Photo Update: New Suez on Right Track
The Non-Governmental Organization (NGO), Dredging Suez Canal, has posted on its official facebook page the latest photos of the New Suez Canal dredging program. The project was launched by the Chairman of the Suez Canal Authority Mohab Mamish in the presence of Egyptian President Abdel Fattah el-Sis
Spectrum shoots seismic over Orange Basin (Namibia)
Norwegian seismic surveyor Spectrum has started a 3,500 kilometer Multi- Client 2D seismic survey in the Orange Basin to complete the 6,000 km survey over the Namibia & South Africa border. The survey ties any discoveries between Namibia & South Africa and provides continuous data coverage, the comp