News
Higher oil prices push Maersk Oil back to black in 1Q
Danish oil company Maersk Oil has recorded a profit in the first quarter of 2017, stating higher oil prices as one of the main reasons. Maersk Oil said that the company’s underlying profit was $328 million opposed to a loss of $29 million for the 1Q 2016. This is understandable as an average oil pri
Caterpillar develops LNG test bed in Kiel
Caterpillar Marine unveiled a liquefied natural gas (LNG) test bed for gas-fuelled engines at its facility in Kiel.
Engie confirms takeover offer for E&P business
French energy company Engie has confirmed it has received an offer from Neptune Energy for its stake in its oil and gas exploration and production business. The confirmation follows an earlier report by Reuters which said the deal over Engie’s E&P business was imminent. Neptune, an investment firm e
OPEC sees much higher oil supply from rivals in 2017
By Alex Lawler LONDON (Reuters) – OPEC on Thursday sharply raised its forecast for oil supply from non-member countries in 2017 as higher prices encourage U.S. shale drillers to pump more, hampering OPEC efforts to clear a glut and support prices by cutting its output. In a monthly report, the Organ
Maersk Supply Service first quarter loss deepens
Danish offshore shipowner Maersk Supply Service (MSS) has posted a deeper net loss for the first quarter of 2017 due to lower utilization and lower rates. The offshore vessel owner said in its financial report posted on Thursday that revenues decreased to $48 million in 1Q 2017 compared to $110 mill
Qatari LNG heading for South Hook
South Hook LNG terminal in the UK is scheduled to receive another cargo of Qatari liquefied natural gas next week.
Parkmead takes full ownership of UK North Sea license
Parkmead, a UK and Netherlands-focused o&g company, has signed a sale and purchase agreement with Verus Petroleum to acquire a 50% interest in the UK North Sea License P.2209, containing the Farne Extension prospect and a further four prospective leads. License P.2209 comprises two adjacent blocks,
Video: construction of Hoegh LNG’s eighth FSRU in two minutes
Norway-based floating LNG giant, Höegh LNG has posted a video on its social media showing the construction of its eighth floating storage and regasification unit (FSRU) at the Hyundai Heavy Industries’ shipyard in Ulsan, South Korea. The 170,000-cbm FSRU will have a regas capacity of 750 MMscf/day.
Photo of the Day: Tahkoluoto Foundations Waiting for Vole au Vent
Gravity-based foundations that will support the offshore wind turbines at the Tahkoluoto are currently lined up in Pori, Finland, and waiting for the installation vessel Vole au vent, due to arrive by the end of next week.
Transocean raises $410M to pay for drillship construction
Transocean, world’s largest offshore drilling contractor, has closed a private offering $410 million in senior secured notes with an annual rate of 5.52% and maturing in 2022. The Transaction was closed by Transocean Conqueror Limited, a Transocean subsidiary, and the owner of the Deepwater Conquero
Navantia-Windar Loads Out Two Hywind Floating Foundations (Photos)
The Navantia-Windar consortium has loaded out the first two of the five SPAR-type floating foundations built for Statoil’s 30MW Hywind Scotland floating wind farm.
Navantia-Windar Loads Out Two Hywind Floating Foundations (Photos)
The Navantia-Windar consortium has loaded out the first two of the five SPAR-type floating foundations built for Statoil’s 30MW Hywind Scotland floating wind farm.
Weir supplies safety valves for Yamal LNG
Yamgaz, a joint-venture led by TechnipFMC with JGC and Chiyoda, has awarded Weir Flow Control France a contract to engineer and supply critical service safety valves for Yamal LNG.
Tacke CEO of Siemens Gamesa, Hannibal CEO of Offshore Operations
At a meeting held on 8 May, the Board of Directors of Siemens Gamesa Renewable Energy appointed Markus Tacke as the company’s new Chief Executive Officer (CEO) with Michael Hannibal, previously CEO of the offshore division at Siemens Wind Power, now CEO of Siemens Gamesa’s offshore business.