News
Engie to sell its share in Petronet LNG
France’s LNG player Engie, through its unit, GDF International, proposed to shed its shareholding in India’s largest importer of liquefied natural gas, Petronet LNG.
Report: Sonatrach, Engie to renew LNG supply contract
Sonatrach of Algeria is reportedly set to extend the liquefied natural gas supply deals it has with the French utility and LNG player Engie.
Farstad’s subsea newbuild ready for TechnipFMC
Offshore service vessel provider Farstad Shipping has taken delivery of the light construction/inspection, maintenance, and repair (IMR) vessel Far Superior from Vard Group. Farstad said on Thursday that the vessel of a Vard 3 17 design was delivered on Wednesday, March 8. The Far Superior was const
Motive Offshore opens subsea contractors fabrication facility in Dundee
Oil and gas services firm Motive Offshore Group has made a six-figure investment in a quayside fabrication facility in Dundee Port, Scotland. Motive said it launched Motive Fabrication in Dundee after negotiating a takeover of a deepwater quayside facility with a 12,000 square feet workshop and a 2,
North Sea tax review ‘good news’ for offshore sector
Following Wednesday’s announcement by the UK chancellor Philip Hammond that a review of North Sea tax rules would be open to provide further support for the oil and gas producers, the industry has reacted with an overwhelming support. In his Spring Budget 2017 speech on Wednesday, the chancellor emp
Oil prices rise on output cuts, but U.S. stockpiles drag
By Jane Chung SEOUL (Reuters) – Oil prices climbed on Thursday after sharp losses the session before, buoyed by strong compliance with touted international production cuts, although a surge in U.S. crude inventories continued to drag. The Organization of the Petroleum Exporting Countries (OPEC) and
Ophir: Fortuna FLNG remains on schedule for FID in mid-2017
London-based Ophir Energy on Thursday said it still expects to make a final investment decision on its Fortuna FLNG project in Equatorial Guinea in mid-2017.
Exploration is not dead, quite the opposite, now is the time to invest, E&P players say
Despite what you may have heard, conventional oil and gas exploration is not dead, and on the contrary, this might even be the perfect time for the exploration players to invest. This was a main takeaway from a session titled „The future of exploration,“ held during the CERAWeek by IHS Markit on Wed
SGMF joins forces with LNG bunkering coalition
SEALNG, the industry coalition promoting the adoption of LNG as a marine fuel signed a memorandum of understanding for cooperation with the Society for Gas as a Marine Fuel (SGMF).
Probe launched after crane incident on Statoil’s Gullfaks B
Statoil has been hit by another offshore incident, this time on its Gullfaks B platform located off Norway, prompting an investigation by the country’s offshore safety body. The Petroleum Safety Authority (PSA) informed on Wednesday that an investigation has been launched into a “lifting incident in
BDI Breaks 1,000 Point Mark amid Rate Growth
The Baltic Dry Index (BDI) has surged on Tuesday, March 7 to a new twelve-week high of 1,033 points, up by 54 points when compared to last week. The rise has been driven by an increase in rates across the sector, but spurred primarily by Capesizes. Specifically, the Capesize index jumped by 211 poin
Global Marine Adds CS Recorder to Its Fleet
Global Marine Systems has added the multi-role subsea construction, installation and trenching vessel CS Recorder to its fleet of vessels. Built in 2000, the vessel, formerly known as the Maersk Recorder, has previously been chartered by Global Marine for numerous cable installation projects. The ne
Poland: PGNiG plans increased use of north-eastern LNG plants
Polish Gas and Oil Company (PGNiG) plans to up the use of LNG regasification plants in north-eastern Poland.
Spain’s February LNG imports surge YoY
Spain’s imports of liquefied natural gas (LNG) rose almost 112 percent in February as compared to the same month in the year before. LNG imports reached 20.9 terawatt hours (TWh) in February, as compared to 9.9 TWh the year before, according to the data provided by the Spanish LNG terminal operator,