News
Finnish LNG-powered icebreaker bunkers at Vuosaari Harbour
Finnish LNG-powered icebreaker Polaris, recently bunkered liquefied natural gas at Helsinki’s Vuosaari Harbour before setting off for its first sea trial on LNG, Skangas said.
Britain may face winter with record low gas stocks after outage
By Susanna Twidale and Oleg Vukmanovic LONDON/MILAN (Reuters) – The shutdown of Britain’s largest gas storage facility for 42-days sent wholesale gas prices surging on Wednesday on the possibility the country could head into winter with record low inventories. In an already volatile day of trading d
Ireland: Providence takes Avalon system licence area
Providence Resources, an Irish based oil and gas exploration company, has been offered a licensing option in the Porcupine Basin, offshore Ireland, which contains the paleocene “Avalon” channel and fan system. Following a recent conclusion of the second phase of awards in the recent Atlantic Margin
GasLog banks on FSRU potential
Monaco-based owner and operator of liquefied natural gas carriers, GasLog said it is continuing in developing its capabilities in the floating storage and regasification (FSRU) sector. The current low natural gas and LNG prices are driving demand for FSRU solutions. FSRUs will “facilitate the openin
France’s Gendarmerie boss to take over as Total’s head of security
French oil giant Total is working on boosting its security. Namely, the company has announced its new appointment will come from the French National Gendarmerie. More to the point, Total will appoint General Denis Favier, Director-General of the French National Gendarmerie, as Senior Vice President,
EU Moves to Set Up European Border and Coast Guard
The creation of a European border control system received a first green light from the European Parliament and Council negotiators on Tuesday night. The cornerstone of the deal is to upgrade the Frontex border agency, which, together with national border management authorities, will form a European
Containerized Freight Rates on the Path of Recovery?
The container shipping market is staging a small recovery, with short-term rates for the main Far East Asian to North European ports rising, suggesting long-term costs could soon follow suit, according to Oslo-based benchmarking and market intelligence platform for containerized ocean freight Xeneta
Subsea 7 to slash over one thousand jobs by 2017
Subsea engineering, construction and services company Subsea 7 has informed that the second phase of global resizing and cost reduction measures will begin in 2016. The group said on Wednesday that these measures are being done in view of continued difficult business and economic conditions in the o
Moore Stephens: Shipping Confidence Slightly Up
Overall confidence levels in the shipping industry rose slightly in the three months to May 2016, according to the latest Shipping Confidence Survey from accountant and shipping adviser Moore Stephens. In May 2016, the average confidence level expressed by respondents in the markets in which they op
Westermeerwind Officially Open
Dutch Minister of Economic Affairs, Henk Kamp, officially opened the Westermeerwind wind farm yesterday. Main contractor Siemens, together with its subcontractors and Westermeerwind project team, has erected the 48-turbine wind farm with 65 ships and barges in nearly one million man-hours. Mammoet a
Gazprom gives nod to new asset sales program
Russian gas giant Gazprom has approved a new program for the disposal of non-core assets for the next three years. Over the period from 2013 through the first quarter of 2016, the company earned a total of RUB 45.2 billion ($705m) from selling non-core and inefficient assets, Gazprom said in a state
Probe finds room for improvement at Statoil’s Johan Sverdrup development
Norway’s offshore safety watchdog, the Petroleum Safety Authority (PSA), has identified several improvement points during its audit of the Johan Sverdrup export pipelines, offshore Norway. The PSA said the audit was conducted on April 18 and 19 with the goal of establishing if Statoil has been carry
Repsol’s integration of Talisman gets passing grade in Norway
Spanish oil company Repsol bought the Canadian energy company Talisman in 2015 for $8.3 billion, plus assumed debt of $4.7 billion. Given that Talisman had offshore oil and gas assets in Norway, the Norwegian authorities have performed an audit of the integration process between Spanish oil giant’s
EY: Private equity firms set to increase investment in O&G sector
Private equity (PE) firms are preparing to deploy capital into the global oil and gas sector with 25% planning acquisitions before the end of the year and 43% by the first half of 2017, according to an EY global survey of 100 PE firms active in the sector. With US$971.4b of PE dry powder from June [