News
China’s LNG imports to hit record high
China, the world’s largest energy consumer, is reportedly set to import record levels of liquefied natural gas (LNG) this month. According to a report by Reuters, China is expected to import about 3.33 million tonnes of LNG in December spurred by winter demand, boosting Asian prices to their highest
Moore Stephens: Shipping Confidence up for Third Successive Quarter
Shipping confidence improved for the third successive quarter in the three months to end-November 2016, according to the latest Shipping Confidence Survey from accountant and shipping adviser Moore Stephens. In November 2016, the average confidence level expressed by respondents was 5.6 out of 10, e
Norway: Søviknes to replace Lien as new Minister of Petroleum and Energy
The Norwegian government has appointed Terje Søviknes, a member of the Progress Party, as the new Minister of Petroleum and Energy in Prime Minister Erna Solberg’s cabinet. The government said on Tuesday that Søviknes would replace Tord Lien, who has been the country’s Minister of Petroleum and Ener
Norway’s oil output in November jumps by 9 pct YOY
Norway’s oil production in November was 9 percent higher than oil production in November last year, the Norwegian Petroleum Directorate (NPD) reported on Wednesday. According to NPD, preliminary production figures for November 2016 show an average daily production of 2 153 000 barrels of oil, NGL an
Linde, Praxair move for merger
Linde AG of Germany and the U.S. rival Praxair, intend to merge under a new holding company through an all-stock transaction.
Flow-Cal completes Angola LNG measurement software project
Flow-Cal, a Houston-based gas and liquid measurement software developer, recently completed a project for Angola LNG at Soyo in northern Angola.
Subsea UK Urges Industry to Embrace ‘New Norm’
With a growing realization that lower oil and gas prices are here to stay, Subsea UK urged the industry to embrace the ‘new norm’ to safeguard the future of the UK’s £9 billion subsea sector. The call was issued as Subsea UK announced the final speaker line-up and programme for its 12th annual confe
Imenco Launches New Division
Imenco has launched a new division, Imenco Corrosion Technology, to promote its anode systems in the offshore renewable energy sector and the oil and gas industry. Imenco Corrosion Technology will provide a range of products including clamps to fit on to a wide range of construction detail like plat
Spotted: First 10,500 TEU Vessel Transits Panama Canal
In today’s spotted we bring you Valparaiso Express, the first 10,500 TEU ship to transit the Expanded Panama Canal. Owned by German shipping major Hapag-Lloyd, the vessel began its transit at the Pacific-facing Cocoli Locks on December 20, following calls at ports in Chile, Peru, Ecuador and Colombi
Former Singapore LNG CEO to take helm at Sembcorp
Singapore’s Sembcorp Industries named Neil McGregor, former CEO of Singapore LNG, as its new chief executive officer from April. He will succeed Tang Kin Fei, who is retiring after 30 years with Sembcorp. Tang Kin Fei, who has led Sembcorp as chief executive since 2005, will remain as advisor and as
Green light for Aberdeen Harbour expansion project
UK’s oil and gas capital’s harbor, Aberdeen Harbour, has announced that its plans to expand facilities into Nigg Bay, to the south of the existing harbor, are to become a reality. The beginning of the £350 million ($432.5M) project, which was recently granted planning consent in the form of Marine L
GPA’s Box Volumes up in November
The Georgia Ports Authority (GPA) reported for the month of November a 6.5 percent increase in total container traffic, which was fueled by a strengthening export market and a busy peak holiday season. The GPA’s Port of Savannah moved 167,333 containers, an improvement of 10,210 over November 2015.
Taiwan’s LNG imports rise in October
Liquefied natural gas (LNG) imports into Taiwan, the world’s fifth largest importer, increased 14 percent in October year-on-year. Taiwan, that uses LNG to fuel its gas-powered power plants, imported 1.38 million mt of LNG in October, as compared to 1.21 million in the same month last year, accordin
Farstad stops paying creditors as Siem term sheet lapses
Norwegian offshore vessel owner Farstad Shipping is yet to complete its restructuring. As part of the restructuring efforts the company in November signed a binding term sheet under which Siem Oil Service Invest Limited would provide the company with NOK 1 billion in new equity. However, the struggl