News
UK’s Milford Haven port expects lower LNG volumes in 2017
Liquefied natural gas (LNG) throughput volumes in the UK’s Port of Milford Haven, home of the South Hook and the Dragon LNG terminal, dropped 26 percent in 2016 and the trend is continuing into this year. LNG volumes at the Port of Milford Haven, the largest port in Wales, were at 6,516,361 tonnes l
Popular news, April 24 – 30, 2017
The most popular articles of the week.
Top news of the week April 24-29
Höegh LNG takes delivery of seventh FSRU Norway-based floating LNG giant Höegh LNG took delivery of its seventh floating storage and regasification unit (FSRU) from Hyundai Heavy Industries. Ichthys LNG’s CPF sets sail for Australia, production start revised Ichthys Explorer, the central processing
Oil rebounds from one-month low on hopes for output cut extension
By Karolin Schaps LONDON (Reuters) – Oil prices rebounded on Friday after dropping to a one-month low the previous day, prompting investors to buy at cheaper levels ahead of a May OPEC meeting at which producers could extend output cuts. Optimism is rising about the prospect of a year-long productio
OPEC: Oil output cuts only two percent off target in March
The Joint Ministerial Monitoring Committee (JMMC) reported on Friday that OPEC and non-OPEC countries have continued their high level of conformity with their voluntary adjustments in production. JMMC’s statement was based on the report of the Joint OPEC-Non-OPEC Technical Committee (JTC) for the mo
Global oil discoveries dropped to record low in 2016, IEA says
Global oil discoveries fell to a record low in 2016 as companies continued to cut spending and conventional oil projects sanctioned were at the lowest level in more than 70 years, according to the International Energy Agency (IEA), which warned that both trends could continue this year. Oil discover
GasLog Partners posts higher profit
GasLog Partners, the New York-listed spinoff of LNG shipper GasLog reported a rise in profit for the first quarter of this year.
Delivery of Exmar’s Caribbean FLNG pushed back
Belgium’s Exmar, the Nicolas Savery-led shipowner said Thursday it now expects to take delivery of its Caribbean FLNG in May. The FLNG unit is currently located at the Wison Offshore & Marine’s yard in Nantong, China. “Financing of the Caribbean FLNG and final delivery of the unit still remains subj
Russian Ship Sinks after Collision near Bosporus Strait
A Russian military vessel sank near the Bosporus strait following a collision with the Togo-flagged livestock carrier Youzarsif H on April 27, according to the Turkish Coast Guard. The ship in question, the Liman, reportedly sustained a rupture as a result of the collision and subsequently sank some
Island Crown Changes Teams at Nordsee One
Offshore service vessel Island Crown has just finished a month-long walk-to-work job for Bluestream at Nordsee One wind farm in the German North Sea, Island Offshore reports.
Island Offshore’s vessel to support Titanic dive
Offshore vessel owners supporting the oil and gas industry have been hit hard by the lack of demand for their services caused by the oil industry’s downcycle and the oversupply of tonnage. Thus, the OSV players have started looking into other sectors such as renewables and fisheries to find work for
Oil market heading towards balance, more draws needed – OPEC secretary general
By Alex Lawler and Bate Felix PARIS (Reuters) – OPEC Secretary-General Mohammad Barkindo said on Thursday that an overhang in global oil inventories was declining but stockpiles still needed to fall closer to the five-year industry average. “While it is evident that the market rebalancing is now mov
Liquimet opens LNG station in Italy
Liquimet, an Italian unit of Gasfin Group has opened the first natural gas only refueling station for LNG and CNG-fueled heavy-duty vehicles in Italy.
TechnipFMC reports rise in profit
LNG engineer TechnipFMC reported a net income of US$190.8 million for the first quarter of 2017, up from $147.4 million in the corresponding quarter last year.