News
UK: Aberdeen Harbour Records Major Traffic Increases
Aberdeen Harbour has recorded significant increases in traffic in the first six months of the year, as activity within the energy sector generally and the North Sea in particular continues to rise. Continued growth in the oil and gas sector was reflected in the increase in support vessels that used
Statoil Writes Off Shtokman Investment. Gives Back 24pct Stake (Russia)
Norway’s oil and gas company Statoil has decided to write off $336.2 million of investment and to hand back its 24 pct share in what is expected to be a giant gas development project, Shtokman, Reuters reports. The consortium formed in 2009, and named Shtokman Development AG, by Russia’s Gazprom, Fr
DCC Buys LPG Business in Britain from BP
DCC plc, the sales, marketing, distribution and business support services group, has reached agreement with BP plc to acquire BP’s liquefied petroleum gas (LPG) distribution business in Britain. Completion of the acquisition is expected to take place at the end of September 2012. The Business suppli
Xcite Energy Secures Loan to Fund Bentley Field Development (UK)
Xcite Energy yesterday closed on the issue of US$10 million of unsecured Loan Notes to a fund managed by West Face Capital Inc. The funds will be used to provide contingency funding during the important Phase 1A work programme on the Bentley field. The Loan Notes have an initial term of 236 days and
Russia: Rosneft, ITERA to Form Gas JV
Rosneft and ITERA Group have closed a deal to create a joint venture on the basis of ITERA Oil and Gas Company to produce and sell gas in line with the terms of a strategic cooperation agreement signed on 28 February 2012. Rosneft obtained 51% in the joint venture in exchange for a 100% stake [&hell
Wayne Moves CNG Dispenser Production to Sweden
Wayne, A GE Energy Business and a global innovator of fuel dispensers and forecourt technologies, announced that it has relocated the company’s production of compressed natural gas (CNG) dispensers manufacturing operation from Talmona, Italy, to Malmö, Sweden. The move to Malmö, Wayne’s European tec
UK: Cuadrilla Rig to Arrive at Anna’s Road Site
Cuadrilla Resources’ drilling rig is due to arrive at its Anna’s Road site in Westby. The rig is set to take a few weeks to set up on the site and is expected to remain there for a few months. Once the well drilling is completed the rig will be dismantled and removed. As has […]
OMS Ends Pipe Surveys for GRTgaz of France
Specialist pipe measurement technology company for the oil and gas industries, Optical Metrology Services (OMS) , has successfully completed a series of pipe measurement surveys for GRTgaz, France’s largest natural gas operator. GRTgaz operates and markets natural gas to the Public Distribution Syst
Arctic Ocean Sea Route Reduces Sailing Distances and Operating Costs by 40 pct
According to Nikkei, Japan is pondering the idea of using the Arctic Ocean as a new sea route to connect Asia with Europe in order to improve shipping efficiency and reduce CO2 emissions. Based on certain estimates, this route could reduce sailing distances and operating costs by 40 per cent as comp
Germany: WindMW Starts Meerwind Süd │Ost Wind Farm Construction
WindMW GmbH (“WindMW”), a joint-venture of Blackstone and Windland Energieerzeugungs GmbH, today announces the start of offshore construction on its 288 MW Offshore Wind Farm, Meerwind Süd │Ost. Meerwind is an 80 turbine, 288 Megawatt (MW) wind farm that is being constructed approximately 50 km off
UK: Cape May Miss Full-Year Expectations
UK-based Cape said its trading performance of the company’s onshore business unit in Australia deteriorated sharply in the second quarter. Following a review of this business, it has become clear that the trading performance for the Far East/Pacific Rim Region for the remainder of the year will be w
Russian-Malaysian JV Fails Offshore Cuba. Better Luck for Venezuelans?
Cuba’s state oil company, Cubapetróleo (Cupet) informed the communist country’s media that Catoche 1X well drilling offshore Cuba has been unsuccessful. The well drilled by a consortium consisting of Malaysia’s Petronas and Russia’s Gazprom has indeed encountered oil but, according to Reuters, the d
UK: New Fugro Trenching System to Start Offshore Deployment
In just a few weeks, a remarkable new Fugro trenching system will start its first offshore deployment, working for Centrica on the 270MW, 75-turbine Lincs offshore windfarm. Fugro-Salt Subsea of Aberdeen has already run a series of successful jetting and cutting trials with the first of its state of
Russia Plans to Establish Naval Infrastructure Along Northern Sea Route
According to Security Council Chief Nikolai Patrushev, Russia will establish infrastructure hubs along the Northern Sea Route that stretches along Russia’s Arctic coast from Murmansk on the Barents Sea to the Bering Strait in the Far East, RIA Novosti news portal reports. The idea behind the hubs is