News
Maersk Supply Service loss north of $1 billion
Danish offshore shipowner Maersk Supply Service has reported a net loss of $1.1 billion for the fourth quarter of 2016 after being hit by impairment charges. The offshore vessel owner said in its financial report posted on Wednesday that the deep loss for the quarter was a result of a $1 billion imp
PTT upping LNG import capacity, second import terminal approved
PTT of Thailand is reportedly eyeing expansion of its LNG import capacity to mitigate the effects of the depleting domestic resources.
Chevalier Floatels’ Upgraded Duo Exceeds Expectations
On some of the projects Chevalier Floatels’ vessels DP Gazina and DP Galyna were working on, the vessels made more than 50 gangway connections to different turbines in 24 hours.
Scottish supply chain ‘set to benefit’ from new decom fund
Scottish government has launched a new £5 million ($6.2M) fund that will provide opportunities for the supply chain in the country to benefit from the decommissioning of the North Sea infrastructure. The Decommissioning Challenge Fund (DCF) will support infrastructure upgrades and innovation in salv
Sparrows Nets East Anglia ONE Contract
Sparrows Group, a provider of engineered products and services to the energy industry, has signed a contract to supply 103 cranes for installation at ScottishPower Renewables’ 714MW East Anglia ONE offshore wind farm.
Annual Spending on Transmission Systems to Reach USD 46.7Bn in 2025
Annual global spending on transmission system infrastructure for large-scale renewable energy integration is expected to grow from USD 36.7 billion in 2016 to USD 46.7 billion in 2025, according to a new report from Navigant Research.
Annual Spending on Transmission Systems to Reach USD 46.7Bn in 2025
Annual global spending on transmission system infrastructure for large-scale renewable energy integration is expected to grow from USD 36.7 billion in 2016 to USD 46.7 billion in 2025, according to a new report from Navigant Research.
Investor injects funds into only AIM-listed company with assets off Guyana
Energy investment company Westmount has made an investment into the Canadian oil & gas exploration company Eco Atlantic Oil & Gas, as the oil company became the latest addition to London’s AIM market. Namely, Eco on Wednesday, February 8 announced the admission of its common shares to trading on the
Trafigura to bring UK’s Teeside LNG facility back to life
Trafigura, one of the world’s largest commodities trading firms, plans to reopen the UK’s Teeside LNG import facility which was closed in 2015. The trading house is investing about $30 million in the LNG import terminal and aims to start operations at the facility in the middle of next year, a Trafi
Maersk Oil profits from cost cuts. Eyes North Sea merger options
Danish oil company Maersk Oil, set to separate from the Maersk Group, will narrow its focus on the North Sea and continue cutting costs and exploration activities in 2017. In the financial report posted on Wednesday, Maersk Oil reported a $230 million profit for the fourth quarter of 2016, an improv
Guanghui Energy invests in storage tanks at its Qidong LNG terminal
Chinese independent company Guanghui Energy earmarked 700 million yuan (Approx: US$101.7 million) for the development of new LNG infrastructure.
Malaysia Marine and Heavy Engineering posts net loss in 2016
LNG carrier repair specialist Malaysia Marine and Heavy Engineering fell into the red during 2016 due to the oil and gas industry downturn. MHB posted a pre-tax loss of 135 million ringgit ($30.4m) for the twelve months that ended December 31, 2016, as compared to a 22.5 million ringgit profit the y
Woodfibre LNG applies for 40-year export permit
Woodfibre LNG filed an application with the National Energy Board (NEB) a 40-year export license for its liquefied natural gas export project in Squamish, British Columbia, Canada.
Golar LNG Partners raising cash through share sale
Golar LNG Partners, a limited partnership formed by Golar LNG, plans to offer 4,500,000 common units in an underwritten public offering.