South & Central Asia
Polarcus breaking seismic records in Myanmar
Marine seismic survey company Polarcus has shared some positive news in an otherwise depressing seismic acquisition market, pressured by low oil prices. The UAE-based, Oslo-listed, company which is currently acquiring an ultra-wide 3D marine seismic project offshore Myanmar, has described the projec
Tokyo Gas December sales slide
Total gas sales volume by Japan’s Tokyo Gas for the month of December, 2015 came to about 1,329.853 million cubic meters, down 2.9 percent from the same month in 2014.
Fitch: Oil at $30 per barrel not sustainable
Fitch Ratings has lowered its corporate forecast assumptions for oil and gas as follows due to recent weakening in supply and demand fundamentals: –2016 oil price base case: $45/bbl; –Long-term base case oil price: $65/bbl; –2016 oil price stress case: $35/bbl; –2016 natural gas base case: $2.50/mcf
Study: India’s LNG demand to rise up to 17 pct by 2021
A study by TechSci Research expects India’s LNG demand to soar from 64 million cubic meters per day in 2015 to over 306 mcm per day by 2021.
Iberdrola Head: Renewables Key to Energy Mix Overhaul
Changes in energy mix are necessary to enable development and integration of mature renewables and meet both a projected 40% increase in the demand for energy until 2040, and the commitments derived from the Climate Summit in Paris, Ignacio Galán, Chairman of Iberdrola, said today during the annual
Gazprom eyes LNG supplies to Pakistan
Gazprom’s head, Alexey Miller discussed the possibility of shipping liquefied natural gas to Pakistan at a meeting with Pakistan’s minister for petroleum and natural resources, Shahid Khaqan Abbasi.
Vietnam claims China’s rig drilling in disputed waters. China denies wrongdoing
Vietnam’s Ministry of Foreign Affairs (MOFA) has warned China to withdraw its drilling rig from the disputed sector of the South China Sea. China quickly responded that the rig was not located in the disputed waters and urged Vietnam to meet it half way in resolving the issue. MOFA has been tracking
Bangladeshi Ship-Breaking Yard Claims Another Victim
A worker died at a Bangladeshi ship-breaking yard in Sitakunda Upazila in the Chittagong District, in the morning hours of January 19 as he was hit by an iron bar falling from a ship, the NGO Shipbreaking Platform confirmed to World Maritime News. The deceased has been identified as a 50-year-old re
BG Group Braves Difficult Year
Despite difficult market, 2015 seems to have been a very positive year for BG Group as the company may even exceed its operational projections for the full year. BG said that its business performance earnings are expected to reach around USD 1.7 billion, with total results earnings of at least USD 2
Time for Offshore Energy Companies to Diversify
Companies serving the offshore energy sector must accept that crude oil prices are not going to bounce back anytime soon and look to diversify into other market areas in the same way the commercial shipping industry does when high crude oil prices squeeze its profit margins, says maritime consultanc
Mitsubishi Corp boosts gas procurement options in USA
Japan’s Mitsubishi Corporation on Wednesday informed it has acquired the remaining stake in Cima Energy, a Houston-based oil and gas marketer through MC Global Gas Corporation.
Chinese Duo Wins Major Port Deal in Algeria
Two Chinese companies, China Harbor Engineering Company (CHEC) and China State Construction Engineering Corporation (CSCEC), and the Algerian government last Sunday signed an agreement to build a mega seaport in Algeria. Under the deal, the two sides will set up a consortium company in March to buil