News
Reuters: OPEC reaches deal to cut oil production
OPEC has reportedly reached an agreement on oil production cut during its meeting in Vienna on Wednesday. While there is no official confirmation as of yet, Reuters has informed, citing unnamed source that OPEC members have agreed to implement the output cuts they’d agreed on in Algiers in September
Golar LNG Partners posts higher net profit in Q3
Golar LNG Partners, a limited partnership formed by Golar LNG, said its net income rose 71 percent in the third quarter as compared to the same period in the year before.
Report: Tangguh invites bids for 2017-2019 LNG cargoes
Tangguh LNG project in Indonesia has reportedly invited bids for its uncommitted LNG cargoes for delivery in 2017-2019.
Centrica offloads Trinidad offshore fields to Shell
UK’s Centrica has decided to sell all of its gas fields offshore Trinidad & Tobago to Shell. In a statement on Tuesday, Centrica said Shell would buy its entire portfolio of gas assets, located offshore the Caribbean Country, for an initial cash consideration of $30 million (£24 million). The assets
Norway reviewing safety in oil and gas operations
The Norwegian government has set up a work group which will review its oil and gas industry’s safety situation. Despite being perceived as a country with one of the most stringest oil industry safety standards in the world, the government is calling for a review following several recent incidents of
Update: Russia Identifies Merchant Ship Hijacked off Benin?
The merchant vessel believed to have been hijacked by pirates some 72 nautical miles off the coast of Cotonou, Benin, could be the 1991-built reefer ship MV Saronic Breeze. In a social media post published today, the Ministry of Foreign Affairs of the Russian Federation said that ”MV Saronic Breeze
BiFab Starts Working on Beatrice Foundations
BiFab’s Arnish facility began work on the transition pieces and piles for the Beatrice offshore wind farm in mid-October, increasing the workforce at the site by 71 people, according to SSE. Burntisland Fabrications (BiFab), a Fife based company with facilities at Burntisland, Methil and Arnish, won
BiFab Starts Working on Beatrice Foundations
BiFab’s Arnish facility began work on the transition pieces and piles for the Beatrice offshore wind farm in mid-October, increasing the workforce at the site by 71 people, according to SSE. Burntisland Fabrications (BiFab), a Fife based company with facilities at Burntisland, Methil and Arnish, won
Cosco delivers third module carrier vessel to BigRoll
China’s Cosco Dalian Shipyard has delivered the third module carrier (MC) vessel, the BigRoll Baffin, to Dutch heavy marine transportation provider BigRoll Shipping. Cosco said on Wednesday that all documents between the parties regarding the delivery of the MC vessel were recently signed and that t
Chevron temporarily stops output at one Gorgon unit
Energy giant Chevron has temporarily suspended output from one of its two production units at the Gorgon LNG plant in Western Australia. The Barrow Island-located Gorgon project is supplied from the Gorgon and Jansz-Io offshore gas fields. Chevron claims Gorgon is one of the world’s largest natural
OPEC’s Al-Sada: Stock overhang ‘stubbornly high.’ Oil still a growth business
OPEC is convening its 171st meeting in Vienna on Wednesday, where the members are expected to try and reach an agreement on freezing production to stabilize the oil prices. The meeting follows a conference in Algiers on September 28, where member countries agreed in principle on a new production tar
Chevron stops production at Gorgon Train 1, again
US-based energy giant Chevron has halted production at the first liquefaction train of its giant Gorgon LNG facility in Western Australia. This comes just weeks after LNG production was restarted from the Gorgon Train 1 following a shutdown for “minor maintenance.” “Production from Gorgon LNG Train
Farstad sees no offshore activity improvement any time soon
Farstad Shipping, a Norwegian offshore vessel supplier, does not expect to see an improvement of conditions in the depressed offshore vessel chartering market. Working on its debt restructuring for months now, Farstad on Tuesday said the previously expected trend change in the oil-price development
Australia to review oil and gas taxes
Australia, that is set to become the world’s largest LNG exporter, is to review its petroleum taxes amid a plunge in oil and gas revenue and to collect more from multinational giants operating in the country. The petroleum resource rent tax, crude-oil excise and other federal royalties will be revie