GE Oil & Gas has received a 16-year service contract extension valued at $333 million for Sakhalin-2, one of the world’s largest integrated oil and gas projects that operates in the harsh subarctic environment of Sakhalin Island in the Russian Far East. The agreement underscores GE’s commitment in l
The second of Fjord Line’s two new cruise ferries was launched Friday in Gdansk, Poland, with thousands looking on from the pier. The ship, which will be called MS Bergensfjord, is painted in Fjord Line’s easily recognizable red and white design. The cruise ferry will now be towed to Bergen Group Fo
The United Kingdom Onshore Operators Group (UKOOG), the representative body for UK onshore oil and gas companies including exploration, production and storage, is publishing for the first time industry guidelines covering best practise for shale well operations in the UK. The guidelines, which inclu
Despite difficult market conditions, RWE AG had a good financial year in 2012. The energy company achieved an EBITDA of EUR 9.3 billion and an operating result of EUR 6.4 billion – both up 10% on the previous year and therefore higher than the outlook published in March 2012. Revenue increased to EU
GE and the Sakhalin provincial government signed a memorandum of understanding (MOU) to work together in developing power generation projects to meet the future energy needs of Sakhalin Island, off the east coast of Russia. The MOU covers a wide range of GE technology options, including aeroderivati
Spot LNG prices rose throughout the fourth quarter, from the high $12’s per MMbtu to around $17 per MMbtu in December and $20 per MMbtu in February due to a variety of factors, Golar LNG said in a statement on Monday. An unprecedented drought in Brazil saw Petrobras continuing an aggressive buying s
John Wood Group said its revenue from continuing operations was $6,821.3m in 2012, up 20% compared to the year before ($5,666.8m). Financial Summary EBITA from continuing operations1 of $461.1m (2011: $341.6m) up 35% Profit from continuing operations before tax and exceptional items of $362.7m (2011
Ophir Energy announced its preliminary results for the full year ended 31 December 2012. 2012 Financial and Corporate Events Successfully completed acquisition of Dominion Petroleum in February 2012; added assets to Ophir’s portfolio in Tanzania (Block 7) and Kenya (Blocks L-9 and L-15) Continued fo
NABUCCO Gas Pipeline International GmbH said it has signed a Memorandum of Understanding and Co-operation (MoU) with the Trans Anatolian Pipeline (TANAP), in which the two parties formally agree to co-operate on the development of the Southern Gas Corridor. The MoU states that NABUCCO and TANAP will
The Fuwairit LNG tanker, with a capacity of 138,262 cbm, is due to arrive in the Zeebrugge LNG terminal from Qatar on March 15, according to port data. The Zeebrugge LNG terminal is situated on a 30ha site in the outer port of Zeebrugge, Belgium. It is operated by Fluxys LNG and has an annual [&hell
Golar LNG Limited reported consolidated net income of $22.8 million and consolidated operating income of $52.9 million for the three months ended December 31, 2012. Revenues in the fourth quarter were $111.8 million as compared to $121.1 million for the third quarter of 2012. The decrease in revenue
Intertanko Chairman and former Teekay President Marine Services Capt. Graham Westgarth has joined the board of Seagull AS, the well-known provider of complete training solutions for seafarers. Capt. Westgarth, who becomes a non-executive Seagull Director, has over 40 years industry experience includ
LNG player BG Group announced the appointment of Lim Haw-Kuang as a Non-Executive Director with immediate effect. Mr Lim, 59, fills the vacancy left by Philippe Varin, who stood down from the board in February after almost seven years as a Non-Executive Director with BG Group. Commenting on the appo
Temasek of Singapore has acquired the treasury shares currently held by Repsol, amounting to 5.04% of the company’s stock. The agreement comprises the purchase of 64.7 million Repsol shares from the company’s treasury stock, at 16.01 euros per share, representing a 1.036 billion euro payment to Reps
