News
Inpex transferring operations of Mahakam block offshore Indonesia to Pertamina
LNG project developer Inpex signed a number of agreements with Pertamina and Total to transfer operation of the Mahakam block offshore Indonesia.
USCG Closes Port of Virginia Due to Strong Winds
The United States Coast Guard (USCG) closed the Port of Virginia Monday night in anticipation of high winds. “All vessels will be prohibited from entering or departing Chesapeake Bay. Vessels at 5,000 gross tons or greater will be prohibited from moving within the bay unless permission is granted by
OSV trio plans to close merger in first half of 2017
A proposed merger between three Norwegian offshore supply vessel providers, Deep Sea Supply, Farstad Shipping, and Solstad Offshore, is on track to be completed during the first half of this year. According to a joint statement on Monday by the three companies, they are finalizing the proposal for t
Sempra adds Obama’s cabinet member to BoD
San Diego-based energy company and LNG operator Sempra Energy appointed Maria Contreras-Sweet to the board of directors.
Harmony, NextDecade move towards merger
Harmony Merger Corporation and the US LNG export player NextDecade executed a non-binding letter of intent paving the ways for a merger of the two companies.
EU says Gazprom offer to avoid antitrust fines allays worries
By Alissa de Carbonnel BRUSSELS (Reuters) – EU antitrust regulators said on Monday concessions by Russia’s Gazprom aimed at avoiding fines should allay concerns of market abuse, signalling a thaw in business ties between Moscow and Brussels despite tensions over Ukraine and Syria. The provisional de
Atlantic Petroleum restructures debt
Atlantic Petroleum, a Faroese oil and gas company with assets in the North Sea, has refinanced its debt with its main creditor Eik Bank. Atlantic said on Monday that it had revised terms for the DKK 66 million ($9.5 million) debt to Eik Bank and that the new terms would see the debt paid back [&hell
WGP to begin North Sea shoot in April
Marine seismic services provider WGP Group, a subsidiary of Thalassa Holdings, has been preparing to mobilize for its 2017 Spring North Sea projects. WGP’s parent company said on Tuesday that preparations are now well underway with operations anticipated to start during April, as scheduled. The comp
Value of Marine Freight Industry to Reach USD 210 Bn by 2021
The global marine freight industry is expected to return to 2014 levels by mid-2019 and reach a value of approximately USD 210 billion by 2021, according to the findings of research firm MarketLine. “The recovery in the industry is expected to be fueled primarily by a return of global demand as oil
North Korean Ship Sinks off China, 27 Crew Rescued
Twenty seven crew members were rescued from a North Korean general cargo ship identified as Kum San that sank on March 9, having collided with a Chinese fuel tanker off the east coast of China, Reuters reported citing the country’s Transport Ministry. As informed, the Chinese vessel did not sustain
Rystad: Wood Group-Amec Foster Wheeler merger to create ‘dominant’ player
Following Wood Group’s announcement of the acquisition of Amec Foster Wheeler, the intelligence group Rystad Energy has said that this merger will create a clear market leader within the engineering and MMO-market, with a market share twice as large as its competitors. With a combined workforce of 6
Spliethoff Orders 6 MPVs, Aims at Offshore Wind Market
Amsterdam-based shipping company Spliethoff has placed an order for six multipurpose vessels (MPVs) at the Zhejiang Ouhua Shipbuilding shipyard in China which are, inter alia, aimed at operating in the offshore wind market.
Spliethoff Orders 6 MPVs, Aims at Offshore Wind Market
Amsterdam-based shipping company Spliethoff has placed an order for six multipurpose vessels (MPVs) at the Zhejiang Ouhua Shipbuilding shipyard in China which are, inter alia, aimed at operating in the offshore wind market.
Vitol, Hascol, form LNG joint venture in Pakistan
Pakistan’s distributor of petroleum products, Hascol Petroleum has set up a separate company to explore the business opportunities in the LNG sector.