News
ICS: Shipping Vulnerable to Regional Action on Cutting CO2
Unless the International Maritime Organization (IMO) makes significant progress as part of its CO2 reduction strategy for the shipping sector the industry could be vulnerable to regional action, the Chairman of the International Chamber of Shipping, Esben Poulsson believes. Speaking in Indonesia tod
Webtool Unveils New Offshore Wind Subsea Cable Recovery Tool
Hydraulic systems specialist, Webtool, has introduced a new gripping and lifting tool for recovering subsea cable during offshore wind projects.
Webtool Unveils New Offshore Wind Subsea Cable Recovery Tool
Hydraulic systems specialist, Webtool, has introduced a new gripping and lifting tool for recovering subsea cable during offshore wind projects.
Wood Group fined in deadly offshore platform fire case
The U.S. Department of Justice (DoJ) on Thursday ordered Wood Group PSN, a Houston-based division of an oil and gas services company Wood Group, to pay $9.5 million in two separate cases involving its conduct in the Gulf of Mexico. Specifically, Wood Group PSN was ordered to pay $7 million for false
Video: Tide Carrier Towed to Safety after almost Grounding off Norway
Stricken barge carrier Tide Carrier that dragged anchor on Wednesday south of Bergen, Norway has been towed to safety on Thursday morning. Namely, the 263-meter vessel was drifting toward the coast and was in danger of going aground following an engine failure while sailing off Feistein Fyr. Twenty
KBR reports Q4 loss amidst reduced LNG activity
Houston-based LNG engineer KBR reported a fourth-quarter net loss of US$87 million compared to net income of $42 million in the corresponding quarter a year before.
Cheniere’s unit offering $800 million in senior notes
US LNG export player Cheniere said Friday its unit Sabine Pass Liquefaction intends to offer $800 million senior secured notes due 2037. Sabine Pass Liquefaction would enter into a note purchase agreement to issue and sell $800 million principal amount of 5.00% senior secured notes due 2037 in a pri
ExxonMobil gains nod to extend Sigyn field life
ExxonMobil has received consent from the Norwegian offshore safety body, Petroleum Safety Authority (PSA), to extend the lifetime of the facilities on the Sigyn field, offshore Norway. ExxonMobil is the operator of the Sigyn field with 40% interest and Statoil is its partner with 60% interest. Sigyn
NorthConnect Gets EU Boost
NorthConnect, a power link between Scotland and Norway has received European Union support with an agreement to part fund the development phase of the 650 km interconnector. NorthConnect will receive over EUR 10 million from the Connecting Europe Facility, the EU’s funding support programme for infr
Chart turns to profit boosted by LNG contracts
US LNG engineer, Chart Industries reported a net income of US$28.2 million for the year 2016 after reporting a net loss of $203 million a year before.
Spanish Jan LNG imports down YoY
Spain’s imports of liquefied natural gas (LNG) dropped 4.8 percent year-on-year due to a month-long outage at the Skikda export facility in Algeria. LNG imports reached 14.4 terawatt hours (TWh) in January, as compared to 15.1 TWh in the corresponding month a year ago, according to the data provided
OPEC: There is still room for improvement in output cuts
The Joint OPEC-Non-OPEC Ministerial Monitoring Committee (JMMC) reported on Friday that OPEC and non-OPEC countries are on the right track towards full conformity with their adjustments in production but there is still room for improvement. The Joint OPEC-Non-OPEC Technical Committee (JTC) held its
Fosmax LNG mulls small-scale loading service
Fosmax LNG issued a call for expressions of interest for small-scale LNG services at its Fos Cavaou LNG terminal on the Mediterranean coast, 50 km west of Marseille.
MOL shifts LNG responsibilities within business restructuring
Japan’s Mitsui O.S.K. Lines (MOL) said the company intends to restructure its organization with effect from April 1, 2017.