The IEA Oil Market Report (OMR) for September trimmed global oil demand growth for 2014 and 2015 to 0.9 million barrels per day (mb/d) and 1.2 mb/d, respectively, because of a pronounced slowdown in demand growth in the second quarter of this year, and a weaker outlook for Europe and China. Demand i
The National Transportation Safety Board has released “Safer Seas 2013: Lessons Learned From Marine Accident Investigations,” a compilation of accident investigations that were published in 2013, organized by vessel type with links to the more detailed accident reports. The introductory message from
The prospect of higher US interest rates is set to drive increased port assets acquisition and refinancing over the next 12 months, according to Drewry Maritime Advisors, the port consultancy division of Drewry. US Federal funds target rate is projected to increase from its all-time low of 0.25% wit
In the last four years the traffic of heroin destined to Europe and North Africa has shifted dramatically from the northern routes to the southern maritime routes. Naval forces belonging to the Combined Maritime Forces (CMF) – a coalition of 30 states headquartered in Bahrain – have seized more than
World petroleum and other liquid fuels consumption will increase 38% by 2040, spurred by increased demand in the developing Asia and Middle East, according to projections in International Energy Outlook 2014 (IEO2014), released on Tuesday by the U.S. Energy Information Administration (EIA). “The gro
Dana Gas, has secured, through its wholly owned subsidiary Dana Gas Explorations FZE, a US$ 100 million Term Facility for the Zora field development project. This facility will contribute the debt component of the financing needed to complete the project and bring the Zora gas field on-stream.The cr
Malta-based Migrant Offshore Aid Station (MOAS) provided several hours of assistance to Italy’s Maritime Rescue Coordination Centre (MRCC) yesterday, conducting the rescue of approximately 700 migrants, Malta Today reports. Migrants, mostly Syrian, Palestinians, and Eritreans, among them a two-day o
The construction of Iran Gas Trunkline-9 (IGAT-9) will improve gas delivery in the west of the country and facilitate future gas exports to European countries, managing director of Iran Gas Engineering and Development Company (IGEDC) said. Alireza Gharibi said the 1,800-kilometer pipeline is being s
Energy plays a major role in the shipping business, accounting for 43% of the cargo moved in 2013 – 4.3 billion tonnes. Oil is still the big dog, with 2.8 billion tonnes of cargo and the coal trade has now reached 1.2 billion tonnes. Which leaves gas as the junior partner in the energy […]
Iran’s Petroleum Minister Bijan Namdar Zanganeh has inaugurated the Middle East’s largest gas storage facility in northeastern Iran on Sunday, the National Iranian Gas Company (NIGC) said in a report. The Shourijeh gas facility can supply 20 million cubic meters of gas per day (MMcm/d) in winter, ac
An average of 25 vessels per month are fixed from the Caribbean to Asia so far in 2014, not only to China, but increasingly also to India. Currently, long-haul Caribbean exports to Asia, especially from Venezuela, are booming, says Poten & Partners in their latest Poten Tanker Opinion. Through vario
Top ten jobs in O&G, All N. Sea choppers have EBS, Jasper rig woes, North Sea fatality, African hotspots, largest jack-up in the world, BP’s Macondo verdict
The International Maritime Organization (IMO) has joined the international ad hoc Ebola Travel and Transport Task Force and is working with other United Nations agencies and non-governmental organizations to monitor the situation and provide timely information in response to the outbreak of the dise
The largest gas storage facility in the Middle East is expected to be inaugurated in Iran soon. According to the report of the public relations of the National Iranian Gas Company (NIGC), Shourijeh gas facility, which can supply 20 million cubic meters of gas per day (MMcm/d) in winter, is to be lau
