Africa
BG receives USD 350 mln payment from Egypt
LNG player BG Group said it has received a $350 million payment from the Egyptian government. This reduces the company’s domestic receivables balance in Egypt to around $1.2 billion, BG said in a statement. The payment is the result of the government of Egypt raising funds specifically to help repay
BG gets $350M payment from Egypt
Following the commitment from the Egyptian government to repay outstanding debts to the energy industry, BG Group plc has received a $350 million payment. This reduces the company’s domestic receivables balance in Egypt to around $1.2 billion. The payment is the result of the government of Egypt rai
Top News of the Week of Sep 29 – Oct 05, 2014
1. EMAS Offshore Launches Singapore IPO EMAS Offshore, formerly known as EOC, has launched public offering of shares following the registration of its prospectus with the Monetary Authority of Singapore (MAS), in conjunction with the proposed listing on the Main Board of the Singapore Exchange Secur
Highlights of the Week – Readers’ Choice
NEWS IN PHOTOS: Yachts Damaged by Dredger At least ten yachts moored outside Medway Yacht Club were struck and badly damaged yesterday by what is believed to be a dredger in the fog. Officials to Sign Savannah Harbor Deepening PPA Deepening the Savannah harbor is one step closer, with officials fr
Overall Annual Shipping Costs Slightly Down
Total annual operating costs in the shipping industry fell by an average of 0.3 per cent in 2013, according to the press release issued by the international accountant and shipping consultant company Moore Stephens. This compares with the 1.8 per cent average fall in costs recorded for 2012. Crew co
Subsea 7 Chooses Trelleborg’s Thermal Insulation for Erha North
Trelleborg’s offshore operation has secured a contract to supply its high temperature thermal insulation material for phase two of the Erha North project, Nigeria. Appointed by subsea engineering, construction and services company, Subsea 7, Trelleborg will supply several tonnes of its high temperat
Trelleborg bags subsea job in Nigeria
Trelleborg’s offshore operation has secured a contract to supply its high temperature thermal insulation material for phase two of the Erha North project, Nigeria. Appointed by subsea engineering, construction and services company, Subsea 7, Trelleborg will supply several tonnes of its high temper
Infographics: Total’s Moho Nord project
Total, French oil and gas giant, has launched an infographics showing its Moho Nord development in Congo. The company describes the project as the “the biggest oil project to date in the Republic of the Congo”. To remind, Total in March last year announced the final investment decision and EPC c
MOL to Tap into Container Shipping Potential in Egypt
MOL Liner Ltd. (MOL) and El Baraka revealed plans on the formation of a joint venture company in Egypt to directly support and develop customer relationships in the country for MOL’s container division. MOLS said the decision was part of the company’s strategy to grow closer to customers and to clea
Ebola hampers Exxon’s offshore drilling plans in Liberia
Ebola virus that has been sowing death throughout west Africa for months is affecting ExxonMobil’s offshore Liberia drilling plans. As Reuters reports, Rex W. Tillerson, ExxonMobil CEO yesterday said: “We had some drilling plans for some blocks offshore West Africa in Liberia. We are having to loo
Teledyne Oil & Gas Scores Aker Solutions Deal
Teledyne Oil & Gas group has been awarded a contract by Aker Solutions for materials and engineering support covering subsea electrical and optical wet-mate interconnects. Shipments are expected to start late in the fourth quarter of 2014 and continue throughout 2015. In April 2014, Aker Solutions a
Secondhand Dry Bulk Market Flooded by Vessels for Sale
The secondhand dry bulk market has been struck by the latest stagnation in the market and depressed charter rates. “The market has been flooded by vessels for sale while even more candidates –especially from the Japanese market- are expected to come in the near future pushed by the weak Yen against