Abu Dhabi Islamic Bank (ADIB), a top-tier Islamic financial services institution, has closed a AED 1.32 billion ($360 million) Syndicated Islamic Facility for Abu Dhabi-based Gulf Marine Services (GMS), the largest provider of self-propelled self-elevating jackup barges in the world. ADIB acted as t
India is interested in importing liquefied natural gas from Iraq, according to a statement from India’s Ministry of Petroleum and Natural Gas. The country’s Minister of Petroleum and Natural Gas, Dr. M. Veerappa Moily, is in Baghdad to attend a two-day meeting of the 17th India-Iraq Joint Commission
The salvors of MOL Comfort have encountered another obstacle in their effort to recover the remaining fore part of the vessel, after its stern part sank in heavy seas on June 27. Namely, as MOL reported on Saturday, July 6, a fire had broken out on the towed fore part of the vessel at around [&helli
Top News of The Week July 1-6, 2013
Saipem Jack-Up Rig ‘Perro Negro 6′ Sinks Off Angola Saipem informs that on July 1, the jack up drilling rig Perro Negro 6, due to the collapsing of the seabed under one of the three legs, suddenly tilted and suffered hull damages, causing water intake. MOL Comfort’s Fore Part Breaks Free from Tow Th
VIDEO LNG – the Safe Fuel Westport posted an interesting video illustrating how liquefied natural gas (LNG) is the safest legacy fuel available—even today. Maran Gas of Greece Takes Delivery of LNG Tanker The first electrical LNG carrier to be ordered by Maran Gas of Greece incorporating induction-b
The dramatic rescue operation of MOL Comfort has faced another turn when the vessel’s fore part broke free from tow amid adverse weather conditions, Mitsui O.S.K. Lines announced. “We are working on the recovery with 3 tugboats and will resume the towing in a west-northwest direction once the work i
Pakistani Secretary of Petroleum and Natural Resources Minister informed the committee on petroleum and natural resources that the Iran-Pakistan gas pipeline project will be completed by the end of 2014. The secretary said IP gas pipeline project is an important project that would help Pakistan to o
International energy consultancy Xodus Group has acquired the business of Dubai based Prime Energy as part of a major expansion drive in the Eastern Hemisphere. This is the first acquisition Xodus has made in the Middle East following the launch of its Dubai operations in 2012. Colin Manson, CEO of
Maran Nakilat Co. Ltd., a joint venture (JV) between Nakilat and Maran Ventures, has secured Islamic refinancing worth $662.4m that will see the JV expand its fleet and Nakilat increase its ownership of the JV. At a ceremony held at Nakilat’s Doha head office, Maran Nakilat Co. Ltd. signed a $662.4m
Salvage Operation Planned for MOL Comfort Mitsui O.S.K. Lines, Ltd. announced in the official statement that the company has contracted a salvage company to recover the two MOL Comfort’s hull parts, after the containerships’ hull was split into two on June 17 during heavy weather while the vessel wa
Dana Gas PJSC, the Middle East’s first and largest regional private sector natural gas company, announced a new gas discovery on the West El Manzala concession in the Nile Delta, Egypt. The Begonia-1 discovery well encountered 15 m of net pay in a good quality sandstone reservoir of the Lower Abu Ma
Steel Cutting Ceremony Held for Petronas FLNG, Malaysia Petronas held steel cutting ceremony for its floating LNG facility. The ceremony was led by PETRONAS’ President and Group CEO, Tan Sri Dato’ Shamsul Azhar Abbas and was jointly hosted by Technip’s President & CEO Mr. Thierry Pilenko and DSME’s
Atwood Places Order for 4th Drillship in South Korea SapuraKencana Nets $2.7 Bln PLSV Contract in Brazil GALLERY: Damen Introduces New Arctic Offshore Support Vessel Design Trans Adriatic Pipeline Selected for Shah Deniz Gas Transport Total Splashes More Cash on Egina. Awards Saipem $3Bln Co
