News
BP in talks to sell Forties pipeline to Ineos
UK oil major BP is in talks with chemicals company Ineos for the sale of its Forties pipeline in the UK sector of the North Sea. The Forties Pipeline System (FPS) is 100%-owned by BP. It is an integrated oil and gas liquid transportation and processing system with a nominal capacity in excess of one
EU parliament rejects total Arctic drilling ban. Focuses on ‘icy waters’
The European Union parliament members have rejected a motion for a total ban on Arctic oil and gas exploration, as proposed by an Arctic policy resolution voted on Thursday, and focused only on the ‘icy waters.’ The European Parliament on Thursday adopted a resolution on an integrated European Union
BIMCO: Dry Bulk Industry’s Road to Profitability
The dry bulk shipping industry remains well on target for profitable freight rates in 2019 if the projected fleet supply growth rate of 0% in 2017 continues, according to international shipping association BIMCO. In 2016, the supply side grew by 3% and the demand side grew by 2.4%, which resulted in
STX France Expands Working Space as Demand Grows
STX France has expanded its Anemos plant in Saint-Nazaire, dedicated to marine renewable energy, to meet the needs of the international market.
Port of Amsterdam to Be Coal-Free by 2030
As part of its new strategy focused on sustainability, the Dutch Port of Amsterdam is moving towards scaling back the transshipment of coal by 2030. In 2016, the port’s transshipment volumes already fell by 7.5% to 16 million tons. What is more, the transshipment of coal is expected to fall by 29% o
Spanish Congress Dismisses Port Reform Plan
The Spanish Congress has rejected the royal decree on the port system reform which was presented by the country’s government earlier this year. This decision follows the infringement procedure opened by the European Commission and the consequential European Court of Justice’s judgment which ruled th
CH2M inks global engineering services framework deal with Shell
Colorado-based CH2M signed a framework agreement with Shell to provide engineering procurement, construction and project management services across upstream, integrated gas and downstream projects globally.
Kvaerner to upgrade Njord A platform for $588M
Norway’s Statoil has awarded Kvaerner the contract for complete upgrade of the Njord A platform. The contract has an estimated value of around NOK 5 billion ($588 million). “This is one of the most important contracts in the market this year. We are proud of the confidence Statoil is showing us by a
Sequa Petroleum liquidates Norwegian business
After completing consultations with employee representatives, Tellus Petroleum, a part of Sequa Petroleum, has started its liquidation process. Oil and gas company Sequa Petroleum started making plans in February to cease its E&P activities in Norway, conducted through its 100% owned Tellus Petroleu
EU Parliament Calls on Ban of Drilling, Shipping of Heavy Fuel Oil in the Arctic
The European Parliament has voted today to pass its Resolution on the Arctic, calling on the ban of oil drilling in the Arctic and shipping of heavy fuel oil so as to protect its vulnerable ecosystem and keep it a low-tension and cooperation area. The parliament called on the Commission and the Memb
Photo of the Day: Brave Tern Lines Up Wikinger Kit
Fred. Olsen Windcarrier has shared a photo of its wind turbine installation vessel Brave Tern hard at work transporting and installing wind turbine components at Iberdrola’s 350MW Wikinger offshore wind farm in the German part of the Baltic Sea.
OGA works to revitalize exploration in UKCS
OGA, the UK’s oil and gas authority established in 2016, has released its activity plan for the next two years, and the revitalization of exploration has been placed on top of the list. The government body formed to help boost economic recovery of the UK oil and gas resources has identified 10 prior
Norway Plans to Build World’s First Ship Tunnel
The construction of the world’s first full-scale ship tunnel in Norway could begin as early as next year as the country’s Coastal Administration is in the finishing stages of the project’s feasibility study. Stad Ship Tunnel is planned to span 1.7 kilometres in lenght, 37 metres in height and 26.5 m
Gate LNG shareholder Gasunie reports lower profit
Dutch gas infrastructure company and a shareholder in the Gate LNG terminal in Rotterdam, Gasunie, reported a decline in net profit and revenue.