Clean Fuel
Technip q2 revenue up 9 pct
LNG engineer Technip said its revenue in the second quarter of 2014 was at €2.6 billion, up by 9% as compared to the same period a year before. Thierry Pilenko, Chairman and CEO of Technip, commented: “Technip’s second quarter was characterized by a substantial improvement in Subsea profitability, e
Repsol net income climbs
Repsol of Spain posted net income of 1.327 billion euros in the first half of the year, an increase of 47% from the year-earlier period. This reflects a good performance of the company’s businesses as well as the success in securing a compensation agreement for the expropriation of YPF, the company
GE, LR ink gas turbines MoU
GE Marine and Lloyd’s Register have signed a Memorandum of Understanding (MOU) to identify potential gas turbine-powered commercial ship projects. “Through the MOU we will identify target segments and commercial customers for our highly-efficient marine gas turbine systems,” said Brien Bolsinger, Vi
Delek, Tamar partners file petition to High Court in Israel
Delek Group’s gas partnerships together with the other partners in the Tamar I/12 lease, filed a petition to the High Court in Israel with regard to the non-approval of the Petroleum Commissionaire to develop Tamar South-West, by linking it to the existing facilities of the Tamar Project. “The petit
EIA: Oil and gas sales cover 68 pct of exports revenue of Russia
Russia is a major exporter of crude oil, petroleum products, and natural gas. Sales of these fuels accounted for 68% of Russia’s total export revenues in 2013, based on data from Russia’s Federal Customs Service, the U.S. Energy Information Administration (EIA) said in a report. Russia received almo
Third LNG tank construction at Revithoussa gets green light
LNG terminal on the island of Revithoussa in Greece will get a second upgrade in the form of a third LNG tank that received a construction approval on July 16. DESFA’s Chief Executive Officer, Konstantinos Ksifaras, highlighted that the issuance of the construction approval for the third tank, a pro
Xodus Group bags Qatargas contract
International energy consultancy Xodus Group has been awarded a contract with Qatargas to provide vibration engineering services at onshore and offshore facilities. Working in partnership with Chiyoda Almana Engineering, Xodus will look to develop a long‐term piping integrity management programme to
Wilhelmsen gets DIGG orders from Japan
Wilhelmsen Technical Solutions has secured multiple orders to supply its Maritime Protection Dry Inert Gas Generator (DIGG) systems for installation on LNG carriers under construction at Japan Marine United’s Tsu shipyard. Two DIGG units will be installed on two gas carriers under construction for J
Nakilat bonds affirmed at A+/A- by Fitch Ratings
Fitch Ratings has affirmed Nakilat Inc.’s senior and subordinated bond ratings at ‘A+‘ for USD850m series A senior secured bonds due 2033 and ‘A-‘ for USD300m series A subordinated second priority secured bonds due 2033. The rating affirmations reflect Nakilat’s stable operating and financial perfor
More Qatari LNG for South Hook
The Al Kharaitiyat LNG carrier, with a capacity of 216,000 cubic metres, is due to arrive in the UK’s South Hook terminal from Qatar on July 30, according to port data. The facility can process 15.6 million tonnes of LNG a year and this cargo will be the third shipment in five days. Qatar Petroleum
Dynagas LNG declares cash distribution
Dynagas LNG Partners has declared a quarterly cash distribution with respect to the quarter ended June 30, 2014 of $ 0.365 per unit. The cash distribution is payable on or about August 12, 2014 to all unitholders of record as of the close of business on August 5, 2014. [mappress] Press Release, July
MAN: ME-GI adds ethane to fuel portfolio
Ocean Yield ASA, the Oslo-based shipowner, has placed orders for three LEGCs (Liquefied Ethylene Gas Carriers) of 36,000 cbm capacity, to be built at Sinopacific Offshore & Engineering, China. Each vessel will be powered by a single MAN B&W ME-GI low-speed, dual-fuel engine. The engines will run on
Trelleborg net sales rise
Trelleborg said its net sales for the second quarter of 2014 increased by 2 percent to SEK 5,725 M. Operating profit, excluding the participation in TrelleborgVibracoustic and items affecting comparability, rose by 11 percent to SEK 802 M, equivalent to an operating margin of 14.0 percent, the Group
European Commission backs Croatian LNG project
Amidst the Ukraine-Russia conflict that brought uncertainty to Europe’s gas supplies, the European Commission has reportedly decided to back the Croatian LNG project on the island of Krk. Economy Minister of Croatia, Ivan Vrdoljak said in an interview with Hina that he expects the government to incl