News
Gas Natural Fenosa posts lower H1 profit
Spanish LNG operator Gas Natural Fenosa reported a lower net profit of 645 million euros ($709m) in the first half of this year when compared to the same period a year ago. The company’s net profit was 6.5% less in “like-for-like terms, i.e., disregarding the effect of currency depreciation and the
Cyprus says Statoil, Exxon, ENI, Total interested in offshore gas
Cyprus received expressions of interest from ENI, Total, Statoil, Exxon Mobil, Qatar Petroleum, and Cairn in a licensing round for offshore hydrocarbon blocks which lapsed last week, its energy ministry said on Wednesday.
Two Vroon PSVs depart on maiden voyages
Two of Vroon’s newbuild platform supply vessels (PSVs) have left Fujian Southeast Shipyard in China at the start of their maiden voyages. Vroon said on Tuesday that new PSVs, the VOS Princess and VOS Principle, left the shipyard on July 16 and July 23. The Khiam Chuan Marine (KCM) design, 80m platfo
Construction Begins on Culzean FSO
Maersk Oil has celebrated the steel cutting for the Culzean’s floating storage and offloading (FSO) vessel in Singapore. Singapore’s Sembcorp Marine is building the FSO in conjunction with Japanese’ Modec, tasked to supply the internal turret and topside modules The completion of the FSO is expected
USD 43.8 Bn Fleet Awaiting Delivery in 2016
During the first half of 2016, some USD 28.4 billion worth of vessels have been delivered to their respective owners, while over USD 43.8 billion worth of ships is left on the orderbook to be delivered by year’s end, according to data provided by VesselsValue. So far this year, a grand total of 905
India, U.S. find ‘large’ natural gas reserve in Indian Ocean
A research partnership between the Government of India, the Government of Japan, and U.S. scientists has resulted in a discovery of ‘large deposits of potentially producible gas hydrate’ in the Indian Ocean. The international team of scientists was led by the Oil and Natural Gas Corporation (ONGC) o
JBIC to fund LNG newbuild acquisition
The Japan Bank for International Cooperation recently said it signed an agreement to provide funds for the acquisition of a liquefied natural gas carrier on order at Imabari Shipbuilding.
ExxonMobil offer ‘inadequate’, former InterOil CEO says
Former InterOil CEO Phil Mulacek on Monday issued a comment on the recent ExxonMobil’s US$2.5 billion offer to acquire InterOil, claiming the shareholders will forego billions of dollars of value.
France: incident at Dunkirk LNG terminal
Send out tests at France’s fourth LNG import terminal in the port of Dunkirk (Dunkerque) have been stopped due to an incident which led to the evacuation of the terminal’s workers. “The Dunkirk LNG terminal, currently in test phase, was put into safe conditions this night, because of LNG presence in
Offshore oil workers go on strike in North Sea
Hundreds of oil workers employed by Wood Group on Shell’s platforms in the North Sea are participating in a strike action in a dispute over proposed cuts of up to 30 per cent on pay and allowances. The strike action follows a ban on overtime working that started on Monday morning. Over 400 members o
Argentina: Enarsa secures six LNG cargoes
Energia Argentina S.A. (Enarsa) has reportedly acquired six cargoes for delivery to Bahia Blanca and Escobar LNG receiving terminals.
MET International completes first LNG import deal
Switzerland-based MET International, the natural gas trading arm of MET Group, said it has completed its first liquefied natural gas (LNG) import transaction. MET International has purchased a cargo into Italy on a DES basis in mid-July to cover its downstream demand, according to the company’s stat
BP’s Q2 profit down 45 pct
UK-based energy giant BP reported a 45 percent drop in its second-quarter profit due to lower oil and gas prices and refining margins. Profit for the second quarter was $720 million on an underlying replacement cost basis, compared with $1.3 billion for the second quarter of 2015, BP said in a state
Block Island Enters Final Stretch
The construction of America’s first offshore wind farm – the 30MW Block Island – has entered the final stage with the majority of the turbine components already delivered to the Port of Providence and ready to be installed, Gina Raimondo, Governor of Rhode Island, heard during her visit to the port