News
SBM Offshore to cut more jobs
Dutch provider of floating production systems to the international offshore oil and gas industry, SBM Offshore, will lay off at least another 250 employees amid market downturn. SBM Offshore said on Wednesday that, as a result of the ongoing review of the company’s cost structure due to the continue
Three Is Not a Crowd off Block Island
Fred. Olsen Windcarrier’s installation vessel Brave Tern has installed three of the five GE Renewable Energy Haliade 150-6MW turbines at the Block Island Wind Farm. This is the first offshore wind farm to be installed in US waters and the first project Fred. Olsen Windcarrier has worked on outside o
Three Is Not a Crowd off Block Island
Fred. Olsen Windcarrier’s installation vessel Brave Tern has installed three of the five GE Renewable Energy Haliade 150-6MW turbines at the Block Island Wind Farm. This is the first offshore wind farm to be installed in US waters and the first project Fred. Olsen Windcarrier has worked on outside o
IEA expects global oil demand growth to wind down in 2016
Crude oil prices eased to around $45 per barrel in August as a global supply overhang weighed and demand growth weakened, the International Energy Agency (IEA) said in its newly released IEA Oil Market Report (OMR) for August. Brent crude had threatened to break below $40 per barrel at the end of Ju
Kogas H1 sales down 2.8 pct
The world’s second-largest buyer of LNG, Kogas said its sales volume dropped 2.8 percent in the first half of this year as compared to the corresponding period a year ago. South Korea’s Kogas said in its first-half results report it sold 16.75 million mt of LNG in January-June, compared to 17.23 mil
Australia offers 28 new offshore areas for petroleum exploration
The Australian Government on Thursday launched the 2016 Offshore Petroleum Exploration Acreage Release making 28 new areas available for bidding in Commonwealth waters offshore from Western Australia and the Territory of Ashmore and Cartier Islands. The 2016 acreage release comprises 28 areas locate
ExxonMobil gains nod for well intervention at Sigyn field
Norwegian offshore safety watchdog, the Petroleum Safety Authority (PSA), has given consent to ExxonMobil to use the Island Frontier and Island Wellserver vessels for light well intervention at Sigyn field, offshore Norway. The Sigyn field is in production license 072 in the North Sea where ExxonMob
Australia offers 28 offshore blocks
The Australian government launched the 2016 Offshore Petroleum Exploration Acreage Release making 28 new areas available for bidding. The 2016 acreage release comprises areas located across five basins in Commonwealth waters offshore of the Territory of Ashmore and Cartier Islands and Western Austra
France: Dunkirk LNG resumes send-out tests
France’s Dunkirk LNG import terminal has restarted send-out tests following an incident late July that led to the plant being put into safe mode. Europe’s newest LNG terminal in the English Channel near Belgium, that is currently in commissioning phase, was put into safe mode on July 25, just weeks
SBM names ex-Shell executive as CFO
Dutch-based SBM Offshore informed on Wednesday that it has nominated Douglas Wood as new chief financial officer. Earlier this year, SBM Offshore announced the intention of the current CFO, P.M. van Rossum, to retire after the annual general meeting in 2017. “The Supervisory Board assigned the Appoi
Kogas posts higher sales in July
South Korea’s Kogas, the world’s second-largest buyer of LNG, reported a rise of 15.2 percent in its sales volume in July. Kogas sold 2.19 million tonnes of LNG in July this year, compared with 1.90 million tonnes a year ago, the company said in a filing to the stock exchange. Gas sales into the pow
Dana Gas posts flat profit in Q2
Dana Gas, the Middle East’s largest private natural gas company on Thursday posted a flat second-quarter profit. The UAE-based firm reported a net profit of $7 million in the second quarter, the same as compared to the corresponding period year ago. Revenue was down to $96 million, as compared to $1
Executive committee named for SPE Offshore Europe 2017
Sixteen energy industry experts have been appointed as an executive committee for the offshore E&P conference and exhibition SPE Offshore Europe 2017. SPE Offshore Europe has been held biennially in Aberdeen since 1973. It is organized by The Offshore Europe Partnership, a joint venture between Reed
Oil & Gas UK promotes improvements in maintenance on offshore o&g platforms
The representative body for the UK offshore oil and gas industry, Oil & Gas UK, has launched a new publication that is, according to the organization, promoting improvements in major accident hazard management operational efficiency on offshore oil and gas installations. Oil & Gas UK said that the p