News
Oil prices rise on output cuts, but U.S. stockpiles drag
By Jane Chung SEOUL (Reuters) – Oil prices climbed on Thursday after sharp losses the session before, buoyed by strong compliance with touted international production cuts, although a surge in U.S. crude inventories continued to drag. The Organization of the Petroleum Exporting Countries (OPEC) and
Ophir: Fortuna FLNG remains on schedule for FID in mid-2017
London-based Ophir Energy on Thursday said it still expects to make a final investment decision on its Fortuna FLNG project in Equatorial Guinea in mid-2017.
Exploration is not dead, quite the opposite, now is the time to invest, E&P players say
Despite what you may have heard, conventional oil and gas exploration is not dead, and on the contrary, this might even be the perfect time for the exploration players to invest. This was a main takeaway from a session titled „The future of exploration,“ held during the CERAWeek by IHS Markit on Wed
Calcium Hypochlorite Suspected Cause of APL Austria’s Fire
The suspected cause of the fire on board the Liberian cargo vessel APL Austria is a chemical known as “calcium hypochlorite”, the South African Maritime Safety Authority (SAMSA) said citing preliminary investigation findings. The chemical was found stowed under deck in No.4 cargo hold, where the fir
SGMF joins forces with LNG bunkering coalition
SEALNG, the industry coalition promoting the adoption of LNG as a marine fuel signed a memorandum of understanding for cooperation with the Society for Gas as a Marine Fuel (SGMF).
Indonesia: Tangguh LNG Train 2 to shut down for maintenance
UK-based energy giant and LNG player BP will shut down the second liquefaction train at the Tangguh LNG plant in Indonesia for two months.
Angola LNG gets more feed gas as Chevron starts production at Mafumeira Sul
Chevron-led 5.2 million tons per year Angola LNG plant in Soyo is set to get new supply of feed gas as the company’s unit, Cabinda Gulf Oil Company began producing oil and gas at the Mafumeira Sul project offshore Angola.
Probe launched after crane incident on Statoil’s Gullfaks B
Statoil has been hit by another offshore incident, this time on its Gullfaks B platform located off Norway, prompting an investigation by the country’s offshore safety body. The Petroleum Safety Authority (PSA) informed on Wednesday that an investigation has been launched into a “lifting incident in
BDI Breaks 1,000 Point Mark amid Rate Growth
The Baltic Dry Index (BDI) has surged on Tuesday, March 7 to a new twelve-week high of 1,033 points, up by 54 points when compared to last week. The rise has been driven by an increase in rates across the sector, but spurred primarily by Capesizes. Specifically, the Capesize index jumped by 211 poin
Global Marine Adds CS Recorder to Its Fleet
Global Marine Systems has added the multi-role subsea construction, installation and trenching vessel CS Recorder to its fleet of vessels. Built in 2000, the vessel, formerly known as the Maersk Recorder, has previously been chartered by Global Marine for numerous cable installation projects. The ne
Poland: PGNiG plans increased use of north-eastern LNG plants
Polish Gas and Oil Company (PGNiG) plans to up the use of LNG regasification plants in north-eastern Poland.
Shell overtakes Woodside as Australia’s largest LNG producer
LNG giant Shell became Australia’s largest producer of the chilled fuel last year through its interests in the nation’s three largest projects, according to a monthly report by energy analyst, EnergyQuest. Shell’s equity share of LNG production in the NWS, QCLNG and the Gorgon project jumped by 232
Spain’s February LNG imports surge YoY
Spain’s imports of liquefied natural gas (LNG) rose almost 112 percent in February as compared to the same month in the year before. LNG imports reached 20.9 terawatt hours (TWh) in February, as compared to 9.9 TWh the year before, according to the data provided by the Spanish LNG terminal operator,
Klaipedos Nafta LNG terminal revenue slides in February
Klaipedos Nafta, the operator of the first Lithuanian LNG terminal reported a 12,9 percent drop in sales revenue from the facility during January 2017.