News
Interview: Are we looking at offshore helicopter crew change alternative?
Dutch shipbuilder Damen Shipyards Group, and offshore access systems provider Ampelmann have teamed to develop a marine access solution for the crew transfer market. Offshore Energy Today has interviewed Mr. David Stibbe, working as a Business Development Manager responsible for Marine Access & Oil
OPEC deal a tough task, as oil output freeze expectations rise
By Rania El Gamal and Alex Lawler DUBAI/LONDON (Reuters) – OPEC will probably revive talks on freezing oil output levels when it meets non-OPEC nations next month as top exporter Saudi Arabia appears to want higher prices, according to OPEC sources, although Iran, Iraq and Russia present obstacles t
Minister: India saving $3 bln on revised LNG import deal with Qatar
India’s saving on the renegotiated long-term LNG supply deal between the country’s largest importer of the chilled fuel Petronet and Qatar’s RasGas, could amount to US$3 billion according to the prime minister Narendra Modi.
WFW Assists Strabag with Global Tech II Sale
International law firm Watson Farley & Williams (WFW) has advised Erste Nordsee-Offshore-Holding GmbH, a joint subsidiary of STRABAG SE and, indirectly, Etanax GmbH, on the legal and tax aspects of the Global Tech II sale to Vattenfall. Malte Jordan, who led WFW’s Hamburg team that advised on the pr
WFW Assists Strabag with Global Tech II Sale
International law firm Watson Farley & Williams (WFW) has advised Erste Nordsee-Offshore-Holding GmbH, a joint subsidiary of STRABAG SE and, indirectly, Etanax GmbH, on the legal and tax aspects of the Global Tech II sale to Vattenfall. Malte Jordan, who led WFW’s Hamburg team that advised on the pr
Bangladeshi Payra Port Inaugurated
Bangladesh’s Payra Bandar (Payra Port), located at the southern region of Patualhali, was inaugurated and opened for limited operational activities with the arrival of MV Fortune Bird on August 13, 2016. The Fortune Bird transported a shipment of stone from China for Padma Bridge. The port is expect
Vaalco Energy gets NYSE warning
Houston-based oil and gas company Vaalco Energy received notification on August 9, 2016, from the New York Stock Exchange (NYSE) that the price of the company’s common stock has fallen below the NYSE’s continued listing standard. The NYSE requires that the average closing price of a listed company’s
Naming ceremony held for first Ichthys project PSV
Platform supply vessel MMA Plover was officially named at a ceremony held on Sunday in Australia. The vessel is the first of two custom-built platform supply vessels which will support the giant gas field development offshore Australia – the Ichthys. According to Inpex, the Japanese company operatio
KrisEnergy working to resolve Wassana field issues
KrisEnergy, an exploration and production company focused on operations in Asia, increased its production in the second quarter of 2016 to 16.611 boepd. This is an increase of 119 pct when compared to the same period of 2015, boosted by the contribution from Nong Yao and Wassana oil fields in the Gu
Ports of Los Angeles, Long Beach See Lower July Volumes
Cargo container volumes at two Californian ports, the Port of Long Beach and the Port of Los Angeles, decreased in July, compared to the same month last year. Volumes at the Port of Long Beach were down 7.7 percent in July, compared to the same month in 2015, when the port handled a record amount of
Arklow Valiant
In mid-May 2016, Arklow Valiant left the harbour of Delfzijl, in The Netherlands, for her sea trials. In that same week, immediately after successful completion of the sea trials, she was handed over to her new owners, Arklow Shipping. Only seven weeks prior to the handover, on Friday the first of A
Palfinger Marine bails out of TTS Group buy
Austrian crane specialist Palfinger Marine has decided not to complete the planned acquisition of the Norwegian cranes and offshore access systems provider TTS Group. The pair announced in June this year that Palfinger would offer NOK 5.60 in cash for one TTS share in the event of a positive due dil
Santos flags $1.05 billion GLNG impairment
Australian LNG operator Santos on Monday said it is writing down the value of its GLNG project in Queensland due to low oil and gas prices. Santos expects to recognise an impairment charge against the carrying value for its GLNG project of about US$1.05 billion after tax ($1.5 billion before tax) in
Rosneft Q2 profit down
Russia’s Rosneft on Monday said its second-quarter net profit dropped by 33.6 percent as compared to the corresponding period a year ago. Rosneft’s net income fell to 89 billion roubles ($1.38 billion) from 134 billion rubles a year earlier due to lower oil prices. Revenue declined by 6.1 percent to