News
BPA to Discuss Post-Brexit Vision for Ports with Gov’t
The British Ports Association (BPA) is planning to launch discussions with the UK government in an effort to understand its post-Brexit vision and how customs procedures might be best managed at ports. The move comes on the back of the Prime Minister Theresa May’s speech from January 18, 2017, in wh
Spanish gas demand hits record, again
Spanish LNG terminal operator, Enagás, said that daily natural gas demand in the country had reached another record high due to the current cold snap. Spanish daily natural gas demand reached 1.59 TWh on Thursday. This figure exceeds the previous record registered on Wednesday and is the highest num
RMT: New Report on UK Seafarer Jobs a Call for Gov’t
Maritime union RMT welcomed a new report on UK seafarer jobs which reveals that existing employment practices in the UK shipping industry need to be changed. Carried out for the Department for Transport by Oxford Economics, the report says that the existing practices in the UK shipping industry coul
Big Oil back on the acquisition trail as outlook brightens
The world’s top oil companies are back in acquisition mode, targeting smaller exploration and development firms to boost oil and gas reserves rather than the mega-mergers that followed previous slumps in crude prices.
OneSubsea scores Utgard subsea system work
OneSubsea has been awarded an engineering, procurement and construction contract by Statoil to supply the subsea production system for the Utgard gas and condensate discovery in the North Sea. The scope of the contract includes a subsea template manifold system, two subsea wellheads and vertical mon
Hoegh LNG nets $178 million in bond sale
Norway-based floating LNG giant Höegh LNG has completed the previously announced bond sale worth NOK 1.5 billion ($178 million). The bond issue was substantially oversubscribed and would be swapped from floating 3M NIBOR to fixed USD interest rate, the Oslo-based company said on Thursday. The net pr
TGS-EMGS Expand Cooperation
Norway’s Electromagnetic Geoservices (EMGS) and TGS-NOPEC Geophysical (TGS) have agreed to expand the cooperation agreement in the Barents Sea. TGS will be investing in a 3D CSEM data acquisition project related to the 24th licensing round in Norway. The contribution from TGS will be booked as a red
ITOPF: Oil Tanker Spills See Downward Trend
The downward trend in oil spills from tankers continues, according to the latest annual statistics issued by the International Tanker Owners Pollution Federation Limited (ITOPF). The average number of large oil spills from tankers, greater than 700 tons, has progressively reduced and since 2010 aver
Statoil gains nod to modify Sleipner for Utgard connection
Norwegian oil company Statoil has received consent from the Petroleum Safety Authority (PSA) to make modifications at Sleipner A and T to connect to the Utgard field, in the North Sea. Utgard is a gas and condensate field situated on the boundary between the Norwegian and UK sectors of the North Sea
German OW Capacity Climbs to 4.1GW; Further Momentum Hindered by Reduced Post-2020 Expansion
In 2016, 818MW of offshore wind capacity went online in Germany, bringing the total capacity of offshore wind turbines connected to the grid to 4,108MW. However, further momentum could be inhibited by the federal government which has limited expansion to 500MW a year after 2020, according to a new r
Eni slapped with Goliat safety orders
Norway’s offshore safety regulator has issued two orders to the Norwegian subsidiary of the Italian oil company Eni related to operations on the Goliat field in the Barents Sea, off Norway. Last Thursday, the Petroleum Safety Authority (PSA) issued two notifications of orders to Eni, which were not
Oil rises from one-week low as IEA says oil market tightening
By Libby George and Christopher Johnson LONDON (Reuters) – Oil bounced back from a one-week low on Thursday as the International Energy Agency (IEA) said global oil markets were tightening even before cuts promised by OPEC and other producers could take shape. Oil prices have gyrated this year as th
Spanish gas demand reaches new record
Spanish LNG terminal operator, Enagás, said that daily natural gas demand in the country had reached a record high on Wednesday due to cold weather. The cold snap that hit most of Europe did not avoid Spain bringing lower temperatures, rain, wind and snow to the peninsula. Spanish daily natural gas
Russia’s Gazprom swings to profit in Q3
Russian energy giant Gazprom posted a net profit of 102 billion roubles ($1.7 billion) in the third quarter of 2016 as it benefited from a stronger rouble. Moscow-based Gazprom logged a loss of 2 billion roubles in the same quarter a year ago after a foreign-exchange loss. The company said its third