News
Drewry says 65 more LNG tanker orders needed by 2020
Shipowners will need to order an additional 65 vessels by 2020 to meet LNG shipping demand as new supplies are coming on-stream, according to the shipping consultancy Drewry. Despite the current weakness in LNG shipping rates, Drewry “maintains its bullish long-term outlook” for LNG shipping and bel
Gazprom considers small-scale LNG exports to China
Gazprom Export, the exporting arm of Russian gas giant Gazprom may build small-scale LNG plants in the country’s remote Far East for exports to the world’s largest energy consumer, China. Gazprom Export, which has already established its presence in the European small-scale LNG market and has been e
Total’s profit down, LNG sales up
French gas and oil giant Total reported on Thursday a drop of 30% in its adjusted net income in the second quarter of this year. Total’s adjusted net profit stood at $2.2 billion, as compared to $3.1 billion in the same quarter a year before, Total said in a statement. “Although still volatile, the
First Nordergründe Nacelles Reach Base
The first nine of eighteen nacelles built by Senvion for the 111MW Nordergründe offshore wind farm have arrived at the south end of the Bremerhaven Container Terminal, Eurogate, the operator of the terminal, reports. Weighing 340 tonnes each, the nacelles were transported from the Senvion factory in
Lake Charles LNG FID delayed
Lake Charles LNG project in Louisiana in which Shell has a 100 percent capacity interest has been delayed, the LNG giant informed in its recent financial report.
Interview: LNG Could Solve Emissions Issue in EU Ports
A new regulation requiring the gross mass of a container to be verified before it is loaded onto a ship, which entered into force on July 1, will assist in ensuring that the millions of containers carried on ships each year are optimally stowed, thereby helping to prevent container stacks collapsing
Shell Q2 profit nosedives
Hague-based LNG giant Shell posted on Thursday its second-quarter results revealing a sharp decline in its net income on low oil, gas and LNG prices. Shell’s second quarter earnings on a current cost of supplies (CCS) basis plunged 93 percent to just $239 million. The company’s adjusted earnings, ex
Technip’s revenue dips in Q2
Paris-based LNG engineer Technip on Thursday posted a 9.2 percent lower second-quarter revenue due to the oil and gas industry downturn.
Connect LNG selects Indonesian and Australian representatives
Connect LNG headquartered in Oslo on Thursday said it has selected two representatives in Jakarta and Melbourne to cover the market in the two regions.
Oil falls close to three-month low as oversupply weighs
By Karolin Schaps LONDON (Reuters) – Oil prices fell close to three-month lows on Wednesday after U.S. industry data showed weekly oil stocks declined by less than expected, feeding into concerns over persistent oversupply dragging down prices. Global benchmark Brent crude <LCOc1> was on track for t
ExxonMobil, Statoil, Total, Eni show interest in blocks offshore Cyprus
Cyprus has received expressions of interest from Statoil, ExxonMobil, Eni, Qatar Petroleum, Cairn Energy and Total for offshore blocks offered in Cyprus’ third licensing round, the energy ministry said on Wednesday. The country’s third offshore licensing round for offshore exploration in blocks 6, 8
Statoil’s Q2 profit dips
Norwegian energy giant and LNG operator Statoil posted a near 70 percent drop in its adjusted operating profit in the second quarter due to low oil and gas prices. Statoil’s adjusted operating profit stood at $913 million in the second quarter as compared to $2.9 billion a year ago. Net operating in
UK offers 1200 blocks in 29th offshore licensing round
UK’s Oil and Gas Authority (OGA) has launched the 29th Offshore Licensing Round with more than 1200 blocks on offer to support its objective of maximizing economic recovery (MER) of the UK Continental Shelf (UKCS). OGA said on Wednesday that companies can now apply for new licenses to drill for offs
Novatek’s profit boosted by Yamal LNG stake sale
Novatek of Russia on Wednesday informed its profit for the second quarter and the first half of 2016 jumped 9.6 percent and 121.7 percent, respectively, compared to the same period in 2015.