News
IEA: OPEC oil supply at all-time high. Growth in demand drops to four-year low
International Energy Agency (IEA) has informed that OPEC oil supply was at an all-time high during September while growth in oil demand dropped to a four-year low in the third quarter of 2016. According to IEA’s newly released Oil Market Report for October, global oil supply rose by 0.6 million barr
Report: Argentina’s Enarsa faces more LNG cargo cancellations
Enarsa of Argentina is reportedly eyeing more cancellation and cargo deferrals during the month of October.
Russia’s Rosneft boss Sechin says no to OPEC oil cap
By Olesya Astakhova ISTANBUL (Reuters) – Igor Sechin, Russia’s most influential oil executive and the head of state-controlled energy giant Rosneft, said his company will not cap oil production as part of a possible agreement with OPEC. His comments underline how difficult it is for Russia to get it
Ideol Picks Vestas Turbine for Floatgen
French floating foundations designer Ideol will use a 2MW Vestas V80 wind turbine for the Floatgen project, the first of its kind in French waters, the company told Offshore WIND. ”The V80 wind turbine has effectively been delivered at Saint-Nazaire in June. The floating foundation construction is p
Procedural fault found during Gjøa platform probe
Norwegian offshore safety body, the Petroleum Safety Authority (PSA), has found a non-conformity during an audit of Engie’s follow-up of load-bearing structures and maritime systems on the Gjøa platform offshore Norway. The safety body identified one non-conformity during the audit relating to proce
Norwegian Joy Catches Fire at Meyer Werft
A fire broke out on the cruise ship newbuilding Norwegian Joy at Meyer Werft shipyard in Papenburg, Germany, on the morning of October 8, 2016. The fire started on one of the balconies of the cruise ship’s Deck 9 at 7:50 am, and was brought under control at around 9:20 am, according to the local pol
Townsville Port Expansion Project Advances
Northern Australia’s Townsville Port Expansion Project (PEP) has taken a step forward with more opportunity for comment on the project’s Additional Environmental Impact Statement (AEIS). State Development Minister Anthony Lynham said while the expansion was vital, it needed to proceed at no cost to
Havyard to name Russian icebreaker duo
A double naming ceremony will be held on Saturday for two icebreaking offshore vessels which will be delivered to Russian shipping company Femco, Havyard Ship Technology said on Tuesday. The two sister vessels, named Pomor and Normann, are two of three Havyard 843 ICE icebreaking offshore vessels or
Russia, Turkey set legal framework for TurkStream project
TurkStream project moved further ahead as an agreement between the government of Russia and the government of Turkey was signed in Istanbul, setting out the legal framework for the project.
BP backs out of Great Australian Bight project
BP said it will not progress its exploration drilling program in the Great Australian Bight, as it intends to focus on opportunities likely to create value in the near to medium term.
OTEC takes center stage in the Netherlands
The 4th International OTEC Symposium will this October bring together industry experts, NGO’s and governments from all over the world to the Netherlands to discuss the state of the ocean thermal energy conversion (OTEC) industry. The two-day event will this year go beyond research and technology dev
Siemens to bid for South African LNG-to-power projects
Siemens engaged potential partners to bid on the US$3.7 billion LNG-to-power project scheme proposed by the South African Department of Energy.
Maestro Diamond Aground in Baltic Sea
The 2015-built bulk carrier Maestro Diamond ran into trouble in the Baltic Sea, off the coast of Gedser, Denmark in the evening hours of October 7, according to media reports. Relevant authorities have dispatched the tug Kiel to assist with the salvage operations, however, the work is reportedly bei
Report: Beerenberg prepares for another round of layoffs
Norwegian oilfield services company Beerenberg has reportedly decided to lay off another 250 employees. Back in August 2016, the company failed to secure an extension to the maintenance services frame agreement on the ConocoPhillips-operated Ekofisk field in the Norwegian sector of the North Sea. Th