Business & Finance
China: Ming Yang Announces Q1 Financial Results
China Ming Yang Wind Power Group Limited (Ming Yang), a leading wind turbine manufacturer in China, announces its unaudited financial results for the first quarter ended March 31, 2012. First Quarter 2012 Financial Highlights: Total wind turbine generators (“WTGs”) for which revenue was recognized a
China: Ming Yang Announces Q1 Financial Results
China Ming Yang Wind Power Group Limited (Ming Yang), a leading wind turbine manufacturer in China, announces its unaudited financial results for the first quarter ended March 31, 2012. First Quarter 2012 Financial Highlights: Total wind turbine generators (“WTGs”) for which revenue was recognized a
Germany Expects Major Grid Expansion
Last week an initial breakthrough was made to further accelerate Germany’s shift to renewable energy. The country’s four major grid operators provided the German government with a new plan for a major grid expansion. The government is reviewing the plan and has recently intensified high-level meetin
Lukoil Becomes Operator in Three Blocks in Gulf of Guinea
Russia’s LUKOIL last week took over the operatorship of offshore exploration projects CI-101 and CI-401 (Republic of Cote d’Ivoire) and Cape Three Points Deep Water (CTPDW, Republic of Ghana) from Vanco Group. All of the three blocks are located close to each other on the deepwater continental slope
Canada: SNC-Lavalin Leaves Davie Yard Joint Venture
Davie Yard Joint Venture, consisted of Upper Lakes Group, SNC Lavalin and Cecon ASA, and established to complete the three vessels under construction at Davie Yard, is about to lose one of its participants. SNC-Lavalin decided to cease its efforts to participate in the Davie Joint Venture. After an
South Korea: Sungdong Shipyard Lays Keel for FSO PTSC BIENDONG 01
On 30th May 2012, at Sungdong Shipyard, Korea, PetroVietnam Technical Services Corporation and PVN’s subsidiary – Bien Dong Petroleum Operating Company (BDPOC) – held the Keel-laying ceremony for the FSO PTSC Biendong 01. FSO PTSC Biendong 01 – with the capacity of 350,000 barrels – is the sixth FSO
Canada: SubC Control Launches HD-Now Conversion Pod
SubC Control introduced the HD-Now conversion pod which provides older ROVs with an easy upgrade path to HD capability. Most ROVs have at least one spare fiber. Utilizing a spare presents the easiest method of getting HD video to the surface. In the cases where the ROV has HD-SDI capability, the bot
Greece: Almi Tankers Chooses OceanSaver BWT Solutions for Its VLCCs
Greek oil tanker operator, Almi Tankers S.A. has chosen OceanSaver Ballast Water Treatment solutions for its VLCCs currently under construction at Korea’s Daewoo Shipbuilding & Marine Engineering Co. Ltd. The 320,000 dwt vessels will join Almi’s fleet in July 2013 and November 2014 and are designed
Miclyn Express Offshore Secures Cash for Samson Refinancing (Australia)
Miclyn Express Offshore Limited has concluded a financing agreement with GE Capital for secured credit facilities of US$23.4m to be used to refinance the existing credit facility for Samson Maritime Holdings Pty Ltd, acquired fully by Miclyn in December 2011. The refinancing was completed in conjunc
Nautilus Minerals In Dispute with State of Papua New Guinea
Nautilus Minerals advises that it is in dispute with the Independent State of Papua New Guinea (the State) as to the parties’ obligations to complete the Agreement entered into on 29 March 2011. Nautilus has initiated the dispute resolution process provided for in the Agreement, which may lead to a
Norway: Lundin Petroleum, Partners Submit Bøyla Field PDO
Lundin Petroleum AB (Lundin Petroleum) through its wholly owned subsidiary Lundin Norway AS and the Bøyla partners have submitted the plan for development and operation (PDO) of the Bøyla field located on the Norwegian Continental Shelf to the Norwegian Ministry of Petroleum and Energy. The Bøyla de
Brazil: Transpetro – Contracts for Purchase and Sale of 22 Oil Tankers Suspended
Transpetro confirmed that it has suspended the execution of the Contracts for Purchase and Sale of 22 oil tankers ordered from the Atlântico Sul Shipyard (EAS) under the Company Fleet Modernization and Expansion Program (Promef). The contracts will remain suspended until August 30th 2012, in which t
Marathon, Partners Submit Bøyla Field PDO (Norway)
Marathon Oil and its partners ConocoPhillips and Lundin Petroleum have submitted the plan for development and operation (PDO) of the Bøyla field located on the Norwegian Continental Shelf to the Norwegian Ministry of Petroleum and Energy. The Bøyla development is expected to begin production during
Belgium: Hydrex’s Ecospeed Wins National Energy Globe Award
On 30 May 2012 two delegates from the Austrian Chamber of Commerce at the Austrian embassy in Brussels, Mr. Peter Fuchs and Mr. Henry Simon, visited Hydrex nv in Antwerp to present the company with the National Energy Globe Award for sustainability for 2012. Hydrex won the award for Belgium for its