South & Central Asia
PETRONAS Delays Second FLNG
Malaysian oil and gas company Petroliam Nasional Berhad (PETRONAS) has pushed the commissioning of its second floating liquefied natural gas (FLNG) project for a later date as the company works to cut costs in a relentless market. The PFLNG 2 project, to be located off the coast of Sabah in Malaysia
Swiber Dives to Loss in 2015
Singapore-listed EPIC contractor, Swiber, has ended its financial year 2015 in USD 18.7 million loss, compared to a profit of USD 31.2 million in the previous financial year. Net loss after tax attributable to owners of the company was USD 27.4 million or USD 6 per share. This compares to profit in
Pertamina Orders Eight Tankers from Local Yards
Indonesian oil and gas company PT Pertamina has ordered eight 17,500 DWT tankers from domestic yards for a total of USD 200 million. The three local shipbuilders in charge of constructing the ships will be PT Anggrek Hitam Shipyard which will be building two ships, and PT Daya Radar Utama and PT Mul
IADC Presents the Latest Issue of Terra et Aqua
The International Association of Dredging Companies (IADC) has introduced the latest issue of Terra et Aqua, their official quarterly publication. The magazine is supported solely by the IADC as a service to the world-wide dredging community and represents IADC’s commitment to the highest standards
Petronas shedding 1.000 jobs
Malaysian oil and gas company Petronas is set to cut around 1.000 jobs. Petronas on Tuesday announced a company-wide organisational restructuring, saying the new structure is designed for “a flatter, leaner and more efficient business operating model” and is a part of “deliberate, sequential measure
Seaman Guard Ohio Crew’s Plea to Suspend Sentence Rejected
The Seaman Guard Ohio’s 35 crew members have received a rejection to their plea to suspend the five-year jail sentence, India Today informs. The court rejected the plea on the basis of the case being sensitive and posted the main petition to June 1 for the final hearing. Namely, the crew’s defense l
EWC to start-up LNG projects by end-2016
Energy World Corp, the company developing LNG projects in the Philippines and Indonesia has set the start-up date of its projects for the end of the current year.
Petronas in further spending cuts after quarterly loss
Malaysian energy giant Petronas has posted a loss in the fourth quarter of 2015 and said it is planning to further cut its spending in the next few years, all due to prevailing low oil prices.
Bad Year Start for Liner Reliability
Container service reliability started 2016 on a disappointing note as the average on-time performance slipped by 5.7 percentage points in January to 69.6%, according to Drewry’s Carrier Performance Insight. The latest result represented the worst month-on-month decline since January 2015 (when the o
Malaysia’s Petronas delays its second FLNG project
Malaysia’s Petronas said Monday it has delayed the startup of its second FLNG facility as the energy giant is cutting costs in a depressed oil price environment. “We have taken the decision to re-phase the Petronas Floating LNG 2 project, to be commissioned at a later date than originally planned,”
DW: As output freeze is unlikely to stick, oil price recovery rests on U.S.
Saudi Arabia and Russia agreed to freeze production at January levels on February 16 in the first coordinated effort to stabilise prices for 15 years. Expectations of an output cut were rife in the days leading up to the meeting in Doha, with Brent gaining 10.9% on February 12th, Douglas-Westwood, a
Petronas curtails its loss, delays second FLNG unit due to spending cuts
Malaysian oil and gas company Petronas wrapped up an extremely difficult 2015 with a net loss and lower revenues amidst a depressed oil price environment. The company said on Monday it will reduce its spending in 2016 which will impact the company’s current projects, including its second floating li