News
BP geared up for growth, CEO says
The UK-based energy giant and LNG player, BP said the company expects to see the growth of its major operating segments over the next five years.
IHC IQIP Equipping SHL for Beatrice Foundation Installation
IHC IQIP will provide jacket pile grippers, the Hydrohammer S-2500 with two specially designed hammer sleeves, and an internal lifting tool to Seaway Heavy Lifting (SHL), the EPCI contractor in charge of foundations for the Beatrice project.
New Sanctions on Iran Would Have Chilling Effect on Business
Following the easing of sanctions against Iran by the US and five other world powers, Europe has been eager to revive maritime trade relations with Tehran, sending its shipping majors and port officials to ink new and renew old cooperation deals. Aside to increased activity in the carriage of oil, c
Golar LNG shrinks loss in Q4
Bermuda-based Golar LNG on Tuesday reported a reduced net loss in the fourth quarter as the LNG shipping market continued to improve. The LNG shipping company posted a net loss of $13.7 million as compared to $67.6 million the year before and $23.9 million in the previous quarter. However, “the obse
Cheniere’s Sabine Pass LNG Train 3 produces commissioning cargo
Cheniere’s produced the commissioning cargo from the third LNG train at its Sabine Pass liquefaction and export project in Louisiana.
Cheniere reports profit in fourth quarter 2016
Cheniere Energy posted a fourth-quarter 2016 net income of US$109.7 million, from a net loss of $291.1 million in the corresponding quarter in 2015.
Emas Chiyoda Subsea files for Chapter 11
Emas Chiyoda Subsea, a subsea industry player, has filed a petition for bankruptcy protection at a U.S. court. The company, established in early 2016 through a merger between Ezra’s Emas AMC and Chiyoda, said on Tuesday it had, together with several subsidiaries, filed voluntary petitions for reorga
Dar Group acquires WorleyParsons stake
Dubai-based Dar Group, an architecture and engineering firm, acquired a 13.45 percent stake in Australian LNG engineering company WorleyParsons.
Chile’s 3rd LNG import terminal likely to be delayed
The Penco-Lirquén LNG import terminal and the accompanying onshore gas-fired power plant in Chile will likely be delayed due to issues with the project’s environmental approval, Sveinung Støhle, head of Höegh LNG said on Tuesday. The Norwegian LNG company is providing a floating storage and regasifi
Petrobangla requests $1.4 bln state subsidy to cover LNG import costs
Bangladesh’s Petrobnangla is turned to the government for a US$1.4 billion subsidy to fund the LNG imports in 2018.
Seadrill laid off more than 1700 workers in 2016
Offshore driller Seadrill Limited laid off 1.724 workers in 2016 in a cost cutting move, as offshore drillers have been hurt by low activity levels caused by depressed oil prices. The company on Thursday said that the headcount had been reduced from 6.995 at year end 2015 to 5.271 at year end 2016.
Oil firms on record OPEC output cut compliance
By Naveen Thukral SINGAPORE (Reuters) – Crude oil edged higher on Tuesday, underpinned by high compliance with OPEC’s production cuts even as the market remains anchored by rising U.S. production. The Organization of the Petroleum Exporting Countries (OPEC) has so far surprised the market by showing
Hoegh LNG swings to profit in Q4
Norway-based floating LNG giant Höegh LNG posted a profit of $0.8 million in the fourth quarter of last year after recording a loss of $33 million in the same quarter a year before. Compared to the quarter before, Höegh LNG’s net profit was lower for $2.5 million. In its report issued on Tuesday, Hö
Dynagas LNG Partners income rises
Dynagas LNG Partners, a partnership formed by Dynagas, reported an adjusted net income of US$17.3 million for the fourth quarter, 15 percent up on the corresponding quarter in 2015.