One-third of Iranian natural gas exports to Oman is planned to be converted to LNG according to National Iranian Gas Export company’s managing director, Alireza Kameli.
Shipping company BW said Monday its FSRU BW Singapore, used as Egypt’s second LNG import terminal in Ain Sokhna Port, has been in full operation since October 2015. “Since operations commenced, BW Singapore has carried out more than 10 Ship-to-Ship (STS) operations and sent out between 500-600 mmscf
Wood Mackenzie’s mid-year prediction that only ‘a handful’ of major projects would make financial investment decision (FID) approval in 2015 proved close enough – only a few large upstream developments achieved the green light during the year, Wood Mackenzie, a global energy consultancy provider, sa
Global energy demand will increase 25 percent between 2014 and 2040, driven by population growth and economic expansion, ExxonMobil, an oil and gas major, said on Monday in the 2016 edition of The Outlook for Energy. At the same time, energy efficiency gains and increased use of renewable energy sou
Overall contracting of new vessels in 2015 dropped by 40% to 1,306 units from 2,162 in 2014, with estimated newbuild investment falling from USD 113bn to USD 69bn, according to Clarksons Research. Investors abstained from newbuild opportunities due to tough market, and the overall newbuilding price
Shareholders of BG Group and Royal Dutch Shell will approve the multi-billion merger of the two energy giants at meetings scheduled to take place this week, according to two polls conducted by LNG World News.
Inspectors of the International Transport Workers’ Federation (ITF) have joined forces with dockers’ and seafarers’ union members in a campaign aimed at checking pay and working conditions on board vessels as part of the first East Asian maritime action week of 2016. The action week will be held fro
A majority of senior oil and gas professionals (56%) believe that the industry is repeating the mistakes of previous downturns and have concerns over the loss of jobs and experience and lack of efficiency, according to a new report published today by DNV GL, a technical advisor to the oil and gas in
A desire to capitalise on distressed situations, grow international market share and acquire new technology will drive a surge in M&A activity in the global oilfield services sector during 2016, according to a new research from international law firm Pinsent Masons. The survey of 200 senior executiv
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Dry bulk shipping capacity of 40 million DWT will be sold for demolition during 2016, making this year the busiest year on record for shipbreaking, according to BIMCO’s forecasts. The prediction comes on the heels of a yet another miserable year start for the industry sector with eroding freight rat
Moody’s Investors Service has reduced its price estimates for Brent crude and West Texas Intermediate crude amid continued oversupply in the oil markets and the risk of additional supply from Iran. Moody’s has lowered its price estimate in 2016 for both Brent crude oil, the international benchmark,
By Amanda Cooper LONDON (Reuters) – Oil rose by more than 6 percent on Friday, as a cold snap boosted demand for heating oil across the United States and Europe, but was still mired near its lowest since 2003 and set for its largest drop in January in at least 25 years. Crude futures were […]
By Dmitry Zhdannikov DAVOS, Switzerland (Reuters) – Facing one of its worst crises in a generation, the oil industry is trying to open up – to women. Even when oil was selling at above $100 a barrel, most of the industry’s top executives said they struggled to find and retain young talent. Year afte
