Africa
Choppy Seas Ahead for Chemical Tankers
Chemical tanker shipping faces another challenging year of falling freight rates in 2015 but the trade is expected to recover next year, according to Drewry’s latest edition of the Chemical Forecaster. Seaborne trade in chemicals and associated products fell by 1.2% in volume terms in 2014. Drewry a
‘Mamola Reliance’ christened in Barcelona
Promar Shipping Services has christened the first of two Damen PSV 3300 vessels built at Damen Shipyards Galaţi in Romania. The Mamola Reliance will operate on the West African oil and gas market, where her high quality design will offer flexibility and a competitive edge. Following the official han
Pura Vida to spud MZ-1 well in April (Morocco)
Pura Vida Energy NL has said that the Atwood Achiever drillship will mobilize to the MZ – 1 location within Pura Vida’s offshore Mazagan Permit in Morocco, and spud the well during April. The Atwood Achiever has completed a well offshore Morocco and has now moved to complete a well offshore Mauritan
Picture of the Day: New Suez Canal Scheme
The Suez Canal dredging scheme comes as a part of the mega New Suez Canal project. Besides dredging, the project includes development of several seaports in the three governorates bordering the canal, Suez, Ismailia and Port Said. Also included in the project is a seaport in the South Sinai city of
Baltic Dry Index in Recovery Mode
After plunging to unprecedented low levels at the beginning of the year, the Baltic Dry Index is en route for recovery based on the latest figures. Namely, the BDI stood at 565 points last week.The rebound has been driven by strong vessel demand from the sector, Reuters reports, pushing daily rates
Douglas-Westwood: FPS Sector Will See More Money, but Less Orders
USD 81 billion will be spent on Floating Production and Storage units (FPS) between 2015 and 2019, 73% more compared to 2010-2014, despite the current low oil price environment, the market analysts from Douglas-Westwood project in their ”World Floating Production Market Forecast 2015-2019.” The valu
BP makes ‘important’ gas discovery offshore Egypt
BP Egypt announced today another important gas discovery in the North Damietta Offshore Concession in the East Nile Delta. The “Atoll-1” deepwater exploration well, currently being drilled using the 6th generation semi-submersible rig “Maersk Discoverer,” has reached 6,400 metres depth and penetrate
ADX granted Kerkouane permit extension
ADX Energy has announced that the Tunisian Authorities (Comité Consultatif des Hydrocarbures) have granted ADX an additional six month extension of the Exploration period for the Kerkouane permit, offshore Tunisia, to the 7th of August 2016. According to the company, the ADX operated Kerkouane permi
DW predicts $81B to be spent on FPS units by 2019
The low oil price is having major impact across the oil & gas industry, said Douglas-Westwood in its DW Monday Report. However, DW’s recently released World Floating Production Market Forecast 2015-2019 expects capital expenditure on FPS units to total $81 billion between 2015 and 2019. While many i
Gas discovery offshore Côte d’Ivoire
RAK Petroleum plc, the Oslo-listed oil and gas investment company, announced today that the Marlin North-1 well drilled by Foxtrot International LDC offshore Côte d’Ivoire flowed gas and oil from the Turonian and Lower Senonian intervals, neither of which had previously tested hydrocarbons on Block
NLNG dismisses bribery involvement
Nigeria LNG Limited said its attention has been drawn to recent Nigerian social media posts about an alleged bribery incident, linked to 2014 tenement rate payments made by the company to Bonny Local Government Council (BLGC).
NLNG dismisses bribery involvement
Nigeria LNG Limited said its attention has been drawn to recent Nigerian social media posts about an alleged bribery incident, linked to 2014 tenement rate payments made by the company to Bonny Local Government Council (BLGC).