News
Croatian LNG terminal granted EU funds
Croatian LNG project on the island of Krk has been awarded €102 million (Approx: US$108.6 million) under the European Union’s Connecting Europe facility (CEF).
GasLog swings to loss in 2016, plans next dropdown in first half this year
Monaco-based LNG shipper GasLog on Friday reported fourth-quarter profit of $31.3 million and a loss of $21.5 million for the full-year of 2016. This compares to $5.5 million in the same quarter last year and a $10.8 million profit for the full-year of 2015. The shipping company posted revenue of $1
Ministry: Spanish Dockworkers Cancel Planned Strike
Spanish dockworkers have called off the announced strike after the government promised it would postpone plans to reform the port system and start negotiating with trade unions, Spain’s Ministry of Public Works said in a statement. Earlier, Spain’s trade unions said they will stage the strike on Feb
WorleyParsons gets Gjøa platform modifications FEED
Engie E&P Norge has awarded Rosenberg WorleyParsons the front end engineering and design (FEED) study for modifications at the Gjøa platform in the North Sea. The award follows an application by Wintershall of the development concept for the Skarfjell field, locate in the northeastern North Sea appr
Kraken on Track for First Oil in Q2 as FPSO Arrives to Field
Kraken floating production storage and offloading (FPSO) vessel has arrived at its field location in the UK North Sea on Monday, February 13. The hook up of the submerged turret production (STP) buoy mooring system to the FPSO was completed on February 15, and a full rotation test performed so that
MDT International Launches Decommissioning Training Courses
MDT International, a global training provider to the oil and gas industry, has entered into a strategic partnership to help energy businesses plan for decommissioning. The company will work with two decommissioning consultancies, Strategic Decom and Well Decom, to prepare companies for the safe, eff
ICS, ESPO against Inclusion of Shipping in EU ETS
After the European Parliament voted to include CO2 emissions from shipping in the EU Emission Trading Scheme (ETS), the International Chamber of Shipping (ICS) and the European Sea Ports Organisation (ESPO) voiced their opposition to the move. Along with the inclusion of shipping in the ETS, the par
Siem Helix 2 Arrives at Huisman Facility for Outfitting
Huisman Equipment has welcomed Siem Helix 2 vessel to its Schiedam facility in the Netherlands. The second well intervention vessel built for Siem Offshore will be outfitted with a Huisman well intervention tower during its stay at Schiedam, Huisman informed through social media. Siem Helix 2 is a s
OPEC could extend or deepen supply cut if oil glut persists: sources
By Rania El Gamal RIYADH (Reuters) – OPEC could extend its oil supply-reduction pact with non-members or even apply deeper cuts from July if global crude inventories fail to drop to a targeted level, OPEC sources said. The group, together with Russia and other non-OPEC oil producers, agreed late las
Port of Barcelona Raises Concerns over Port Reform Impact
The Port of Barcelona has expressed concerns over the ongoing situation related to the recently announced plan by the Spanish government to reform the port system. Earlier, Inigo de la Serna, the Spanish Minister of Public Works, said he will launch a decree issued by the European Union Court of Jus
Ocean Yield, Ezra in new ‘Lewek Connector’ charter
Ocean Yield will charter its Lewek Connector subsea vessel to Singapore’s Ezra, under newly agreed terms. The move comes just a few days after the owner had terminated the charter for the vessel it had with Ezra’s cash-strapped subsidiary Emas AMC. For background, Emas AMC in December 2016, requeste
Drewry: LPG Shipping Rates to Fall Further in 2017
Although the liquefied petroleum gas (LPG) shipping trade is expected to continue growing on the back of strong Asian demand, the rates could fall further in 2017 due to continued oversupply, according to shipping consultancy Drewry. 2017 is expected to be no different from 2016, when LPG shipping r
MSI: Port Stocks and Politics to Determine Dry Bulk Fortunes
Although the bulk carrier markets began 2017 in reasonably robust form, Maritime Strategies International (MSI) has forecast weak forward prospects for the dry bulk sector due to a combination of volatile trade conditions and political policy. Future earnings in the bulker market will partly be infl
Statoil ordered to boost safety after almost fatal gas leak
The Norwegian offshore oil and gas safety body PSA Norway has issued a notification of order to Statoil following a poisonous gas leak at the Sture terminal on October 12, 2016. Five persons were exposed the poisonous hydrogen sulphide (H2S) gas, in an accident that could have been fatal. According