News
EIA says U.S. gas output to rise on higher prices, LNG exports
Natural gas marketed production in the U.S. is expected to rise in late 2016 and through 2017 due to gas price increases and growing LNG exports, according to the Energy Information Administration (EIA). The agency said in its August Short-Term Energy Outlook that forecast natural gas production is
Amec Foster Wheeler swings to loss
London-based LNG engineer Amec Foster Wheeler swung to an interim net loss, due to the oil and gas price downturn. Amec Foster Wheeler reported a pretax loss of 446 million pounds ($581.4m) in the six months ended June 30, compared with a pretax profit of 73 million pounds in the same period a year
UK union calls for talks to avoid further strike in North Sea
UK’s trade union Unite has called for urgent talks with energy company Wood Group to avert further strike action in the North Sea after new strike dates had been set. To remind, Wood Group’s workers on Shell’s North Sea assets participated in two strike actions in a dispute over proposed cuts of up
Petrotrin mopping up oil from Trinidad beaches
After last week’s reports on crude oil patches discovered on beaches in Trinidad, Petrotrin, the national oil company said it has cleaned up the oil that washed ashore the beaches along the southwestern peninsula. On 2016 August 3 and 4, the state-owned oil company began the clean-up activities at M
Gazprom posts lower profit in Q1
Russian gas giant Gazprom posted on Wednesday a drop of 5.1% in its first-quarter net profit as operating expenses rose. Gazprom’s net profit of 362.3 billion roubles ($5.6 billion) in the first quarter dropped from 382.1 billion roubles in the corresponding period a year before. The Russian company
B.C. approves Woodfibre LNG pipeline
The western Canadian province of British Columbia on Tuesday granted an environmental approval for a proposed pipeline that will supply natural gas to the Woodfibre LNG project. Environment Minister Mary Polak and Natural Gas Development Minister Rich Coleman have issued the environmental assessment
Clean Energy’s Q2 revenue climbs
Clean Energy Fuels, one of the largest providers of natural gas fuel for transportation in North America, posted a rise in its second-quarter earnings on the back of higher fuel deliveries. The California-based company reported a $1.5 million profit during the period in review compared to a $30 mill
Port of Virginia to Work Extended Hours
US Port of Virginia plans to extend its gate hours at Virginia International Gateway (VIG) from August 15 until the week ending November 4, 2016, due to the increased seasonal cargo volumes expected to arrive over the next few months. Gate hours at VIG will be extended on Monday and Tuesday each wee
Infographic: How Shipowners Changed Behavior in 1H 2016
The infographic below, released by VesselsValue, shows the change in ship ordering, selling and scrapping activities in the first half of this year, when compared to the same period in 2015. The findings showed that there was a 52 percent reduction in spending on second hand vessels. In 2015, a tota
Japan’s spot LNG arrival price up in July
The average price of spot LNG cargoes delivered into Japan in July rose 33 percent from June, according to the data from the Ministry of Economy, Trade and Industry (METI). The average price of LNG cargoes delivered into Japan in July reached $6 per mmBtu on DES basis, as compared to $4.5 per mmBtu
Only Sarawakians for Petronas’ jobs in Sarawak?
The Government of Sarawak, one of two Malaysian states on the island of Borneo, has introduced a moratorium on all new applications for Petronas positions in the state. However, if an applicant is a Sarawakian, the moratorium does not apply, The Borneo Post has informed. The newspaper has quoted the
Cheniere posts Q2 loss
Houston-based LNG export player Cheniere posted a wider net loss in the second quarter of this year as compared to the same period a year ago. Cheniere reported a net loss of $298.4 million, or $1.31 per share , for the second quarter, compared to a net loss of $118.5 million, or $0.52 per share, fo
Reports: PNG LNG production not affected by protests
Production at the ExxonMobil-operated US$19 billion PNG LNG project is reportedly not affected as landowners are protesting over royalty disagreements. Landowners are protesting over unpaid royalties from the giant LNG project which they claim they did not receive from the government of Papua New Gu
Oil slips to $45 as glut overshadows hope for producer action
By Alex Lawler LONDON (Reuters) – Oil fell below $45 a barrel on Tuesday after rallying to a two-week high the previous day, as concern about a supply glut outweighed hopes of producer action to prop up prices. In the latest sign of ample supplies, market intelligence firm Genscape reported a rise o