News
Annual Spending on Transmission Systems to Reach USD 46.7Bn in 2025
Annual global spending on transmission system infrastructure for large-scale renewable energy integration is expected to grow from USD 36.7 billion in 2016 to USD 46.7 billion in 2025, according to a new report from Navigant Research.
Investor injects funds into only AIM-listed company with assets off Guyana
Energy investment company Westmount has made an investment into the Canadian oil & gas exploration company Eco Atlantic Oil & Gas, as the oil company became the latest addition to London’s AIM market. Namely, Eco on Wednesday, February 8 announced the admission of its common shares to trading on the
Trafigura to bring UK’s Teeside LNG facility back to life
Trafigura, one of the world’s largest commodities trading firms, plans to reopen the UK’s Teeside LNG import facility which was closed in 2015. The trading house is investing about $30 million in the LNG import terminal and aims to start operations at the facility in the middle of next year, a Trafi
Maersk Oil profits from cost cuts. Eyes North Sea merger options
Danish oil company Maersk Oil, set to separate from the Maersk Group, will narrow its focus on the North Sea and continue cutting costs and exploration activities in 2017. In the financial report posted on Wednesday, Maersk Oil reported a $230 million profit for the fourth quarter of 2016, an improv
Golar LNG Partners raising cash through share sale
Golar LNG Partners, a limited partnership formed by Golar LNG, plans to offer 4,500,000 common units in an underwritten public offering.
Unique Group targets Kazakhstan market through new partnership
Provider of integrated subsea and offshore solutions Unique Group has entered into the Kazakhstan market through a partnership with Kazakh firm Caspian InterIndustrial Company (CIC). Unique said on Wednesday that the agreement would cover the territory of Kazakhstan and result in the establishment o
Sea Emperor’s Seafarers Left without Pay and Warm Clothing
Seafarers on board the chemical tanker, Sea Emperor that was held at Fawley Port, the UK, were found to be without warm clothing for days and their wages unpaid for three months, according to Catholic charity Apostleship of the Sea (AoS). The Marshall Islands-flagged ship, built in 2008, was detaine
Klaipedos Nafta LNG terminal revenue drops in January
Klaipedos Nafta, the operator of the first Lithuanian LNG terminal reported a 4.9 percent drop in sales revenue from the facility during January 2017.
Photo of the Day: MPI Enterprise Shows Her Vroon Colours ahead of Nordsee One Work
MPI Offshore’s jack-up vessel MPI Enterprise has recently undergone her periodic drydocking in Hamburg prior to heading out to install Senvion wind turbines on the 322MW Nordsee One offshore wind farm. During her stay in dock, she was painted in Vroon red and labelled with Vroon’s white letter V. In
Gasum puts focus on growing Nordic gas market as profit drops
Gasum of Finland is turning its focus on expanding the Nordic gas market based on biogas, natural gas and LNG after selling its heat and natural gas retail business.
EY: Shift to long-term strategy vital for UK’s oilfield services suppliers
As the UK’s oil and gas sector begins to show signs of recovery from the toughest year on record, it is vital that the oilfield services (OFS) industry makes a permanent shift in strategy from short-term survival to long-term success, according to analysis published by EY on Tuesday. EY’s the ‘Revie
Industry majors join forces on Pakistan FSRU project
Höegh LNG, together with Qatar Petroleum, Total, Mitsubishi and ExxonMobil formed a consortium to advance an LNG import project in Pakistan.
Video: operations process at Dunkirk LNG terminal
Madrid Spirit, Teekay’s 135,243-cbm LNG carrier, delivered the first cargo to France’s fourth liquefied natural gas regasification terminal in July last year.
Ezra faces wind-up threat as Forland seeks its cash
Offshore vessel owner Forland Subsea no longer wants to wait and has served Singapore’s Ezra Holdings a statutory demand seeking payments owed for a vessel charter. To remind, Ezra’s subsidiary EMAS AMC missed the payment for the charter hired for Forland’s Lewek Inspector vessel for October 2016. A