Popular news, July 17-23, 2017
Schlumberger has narrowed its second quarter loss to $74 million, compared to $2,16 billion a year ago. The world’s largest oilfield services provider posted the second quarter revenue of $7,46 billion, 4 percent up from $7,16 billion in the corresponding quarter of 2016. Sequentially, revenue grew
Qatari LNG producer RasGas has reportedly pushed back a round of job cuts after the diplomatic crisis which erupted between Qatar and several of its Middle East neighbors in early June. Staff at the LNG producing giant were told earlier this year that they would be laid off in June, with the job cut
Energean Oil & Gas, a Greek oil company that is increasingly looking abroad, is in talks to sell gas from its recently sanctioned offshore development in Israel. According to Globes, a leading business news website in Israel, the Greek company is discussing a gas supply deal with three companies in
Very large gas carriers (VLGC) have seen their earnings dwindle 42 percent below trend, as the tanker market moved into negative territory in the first half of this year, Clarksons Research reported in a half-year review. “The larger ships are feeling the biggest correction as fleet growth, particul
The most popular articles of the week.
LNG giant Shell to invest billions in new energies to cut emissions The Hague-based LNG giant Shell aims to spend as much as $1 billion a year on its New Energies unit by the end of the decade as it is seeking to lower emissions. Ichthys LNG FPSO to depart South Korea soon Ichthys Venturer, [&hellip
By 2020, some 100 very large crude carriers (VLCCs) will be over 20 years old, hinting that the time may be ripe now to replace that tonnage especially since the newbuilding prices are hard to resist now. “With 80 million US dollars for a VLCC and 53 million US-dollars for a Suezmax, you need to [&h
The global natural gas market is undergoing a major transformation driven by new supplies coming from the United States to meet growing demand in developing economies and as industry surpasses the power sector as the largest source of gas demand growth, according to the International Energy Agency.
Worldwide natural gas demand is expected to rise 1.6% per year during 2014-35 and this growth in absolute terms would outstrip that of all other energy sources, a study released by the French international association for gas, Cedigaz, said Tuesday. Cedigaz sees natural gas and LNG as “a key transit
France’s Total in joint venture with Qatar Petroleum will assume operatorship of the Al-Shaheen offshore oil field for a period of 25 years starting on Friday, July 14, 2017. The field produces 300 thousand barrels of oil per day. The concession will be operated by the North Oil Company (NOC), which
Qatar’s state run oil and gas company Qatar Petroleum and French oil giant Total are set to formally launch a joint venture company which will operate the giant Al Shaheen offshore oil field. According to The Agence France Presse, which cited a statement by the two companies, the joint venture named
This year might be a turning point when it comes to the number of expected final investment decisions for upstream projects, according to Wood Mackenzie, an energy intelligence firm. According to a recent Wood Mackenzie report “A big year for FIDs: 2017 marks a turning point”, the number of upstream
The role of oil as a vital source of energy to the world is expected to continue for the long term despite the growth of alternatives, said Amin H. Nasser, President and CEO of Saudi Aramco. At the World Petroleum Congress in Istanbul on Monday, Nasser reiterated in a keynote to heads of state, gove
