News
Ten oil majors to invest $1B to ‘help tackle climate challenge’
The Oil and Gas Climate Initiative (OGCI), made up of CEOs of ten major oil and gas companies, on Friday announced an investment of $1 billion over the next ten years, to develop and accelerate the commercial deployment of innovative low emissions technologies. The CEO-led organization was designed
Keppel in talks to save KrisEnergy
Singapore’s conglomerate and offshore rig builder Keppel Corporation is in talks to provide a lifeline to the upstream oil and gas company KrisEnergy, which could, in turn, lead to Keppel increasing its stake in KrisEnergy to almost 70 percent. The announcement by Keppel on Thursday follows KrisEner
Oil and gas companies reveal $1 bln climate investment plans
The Oil and Gas Climate Initiative (OGCI), designed to catalyze practical action to reduce greenhouse gas emissions, said it will invest US$1 billion over the next ten years to deploy low emissions technologies.
Statoil gets nod to use Huldra platform during cold phase
Norwegian offshore safety watchdog, the Petroleum Safety Authority (PSA), has granted Statoil consent to use the Huldra platform in the North Sea during its cold phase. PSA said on Friday that the consent applies to the use of the platform after the wells have been plugged and abandoned, casings rem
EIA: Henry Hub price drops
Natural gas spot prices in the United States were mixed in the week ending November 2 with the Henry Hub price dropping 41¢ from last Wednesday, according to the weekly report by the Energy Information Administration. The Henry Hub spot price dropped from $2.68/MMBtu last Wednesday to $2.27/MMBtu tw
USA: Cameron LNG export project facing delays
The completion of three liquefaction trains currently under construction at Sempra Energy’s Cameron LNG project in Louisiana could be delayed for months, according to chief executive Debra Reed.
Veresen units seek FERC to act fast on Jordan Cove LNG
Jordan Cove Energy Project and Pacific Connector Gas Pipeline, both units of Calgary-based Veresen, filed a request with FERC to expedite its decision on rehearing of the order denying the construction of LNG project in Coos Bay, Oregon.
Clean Energy cuts losses on rising fuel deliveries
Clean Energy Fuels, one of the largest providers of natural gas fuel for transportation in North America reported a net loss of US$12.6 million for the third quarter 2016.
BCG: Mergers and Acquisitions Are Future of Container Shipping
Rather than joining an alliance, container liners should use a blend of global mergers and smaller merger and acquisition (M&A) deals that can help reduce costs, consulting firm Boston Consulting Group (BCG) said. Beyond the increase in scale that a merger brings, it can also unlock synergies, which
Spatco named Galileo LNG tech distributor for North America
Galileo Global Technologies said that Spatco Energy Solutions acquired the right to distribute Galileo natural gas conversion equipment in North America.
Eleven years of production for Statoil’s Kristin field
Thursday, November 3, 2016, marked the eleventh anniversary of Statoil’s Kristin field coming on stream, Norwegian Oil and Gas Association has informed. Located in the southwest part of Halten Bank in the Norwegian Sea, the Kristin field came online on November 3, 2005. The field has been developed
EMGS facing liquidity crunch as backlog keeps shrinking
EMGS, a Norwegian provider of electromagnetic survey services for the oil and gas industry, expects a rough patch ahead, with a near-term need to steer its shrinking backlog to growth mode. The company’s revenue fell to 4.5 million in the third quarter of 2016, from $16. 3 million in the same period
Royal Navy Divers Clear Garvie Island UXO
Fifteen Royal Navy clearance divers from the Clyde-based Northern Diving Group (NDG) recently traveled to Cape Wrath in Scotland to tackle unexploded ordnance left over from military exercises. The military training range at Cape Wrath is an important defence asset, a remote 107-square miles of moor
Cheniere narrows losses, plans mid-scale LNG project
Cheniere Energy posted a third-quarter net loss of US$100.4 million for the three months ended September 30, 2016, compared to a net loss of $297.8 million for the comparable 2015 period.