News
INEA approves funds for Klaipedos Nafta’s LNG bunkering project
Klaipedos Nafta on Tuesday said it has received notification from the Innovation and Networks Executive Agency of the grant agreement for the LNG infrastructure funding in the Baltic sea region.
Farstad sells Far Fosna AHTS
Norwegian offshore shipowner Farstad Shipping has sold a 1993-built anchor handling tug and supply vessel to an undisclosed client. The company, which last week received the restructuring support from Siem Industries, said the vessel Far Fosna was delivered to the new owner on Tuesday. Farstad did n
VIDEO: Chevron’s Alder field goes online 40 years after discovery
Oil major Chevron has launched a video showing the company’s journey to the first produced gas at Alder, a high-pressure, high-temperature (HPHT) gas condensate field in the UK sector of the North Sea. The field is operated by Chevron which has a 73.684 percent interest while its co-venturer ConocoP
Alimerka acquires 20 LNG-fueled trucks
Alimerka, the Spanish supermarket chain, added 20 liquefied natural gas-fueled Scania trucks to its transport fleet.
Total wins Iranian South Pars field phase 11 development
Total said it has signed a heads of agreement with the National Iranian Oil Company for the development of phase 11 of South Pars, the world’s largest gas field.
UK oil & gas firms exploring Mexico’s newly-opened industry
A delegation from the British Chamber of Commerce in Mexico is in Aberdeen this week, looking at opportunities to build closer business links between the Scottish and Mexican oil and gas sectors. The Mexican oil and gas industry in Mexico had been closed for foreign companies for years, however, sin
Oil prices bounce after OPEC reaffirms plan to cut output
By Henning Gloystein SINGAPORE (Reuters) – Oil prices rose by over 1 percent on Monday, pushed up by a statement from the producers’ club OPEC that it was committed to a deal made in September to cut output in order to prop up the market. Brent crude <LCOc1> was at $46.12 per barrel at 0746 [&hellip
UAE minister says global oil supply glut is almost gone
ABU DHABI (Reuters) – The United Arab Emirates (UAE) energy minister Suhail bin Mohammed al-Mazrouei said on Monday the global oil supply glut was almost gone. Addressing the ADIPEC oil conference in Abu Dhabi, he said: “The glut is almost gone … I think we are at the bottom of this cycle…” He added
Strong headwinds ahead for floaters, but recovery could start in 2018
Deepwater offshore drillers are still fighting strong headwinds as the industry heads into the third year of the downturn, however, those who manage to live through 2017, might see the light at the end of the tunnel. According to Rystad Energy, a Norway-based energy intelligence group, utilization f
Decommissioning – Just Round the Corner
The maritime industry is gearing up for exciting times in an expanding sector The next 30 to 40 years will see the full-scale removal of the North Sea oil and gas industry’s production infrastructure. To say that this will be a considerable task is very much an understatement. For example, it is est
DW: Supply chain players who diversify offering better positioned for recovery?
Historically, the oil & gas industry has witnessed merger and acquisition (M&A) activity through cycles, as companies try to create value in volatile oil price environments, Douglas-Westwood, an energy intelligence group, said in its DW Monday report. The current downturn has resulted in a number of
Gasum inaugurates LNG station in Turku
Gasum of Finland said the first gas filling station intended for cars, commercial vehicles as well as heavy-duty road vehicles in Turku has been inaugurated on Monday, November 7.
Chevron kicks off gas production at Alder
Chevron began production at its high-pressure, high-temperature Alder gas condensate field in the Central North Sea in the United Kingdom.
Rosneft gains access to Chinese gas market through $1 bln unit stake sale
Russia’s Rosneft signed agreements with Beijing Gas Group for the sale of a 20 percent stake in its unit Verkhnechonskneftegaz.