News
Future looks more positive for UK oilfield services sector, report says
The fall in oil price continued to impact the UK oilfield services (OFS) sector in 2016 with turnover falling by 15.5% but the future looks more positive as pressure from external factors ease, according to EY’s Review of the UK Oilfield services industry.
Tullow narrows loss. Focuses on growth
Tullow Oil, a London-listed oil and gas exploration and production company, narrowed its net loss for the year, posting a loss after tax of $189 million, compared to a loss after tax of $597 million in 2016.
Malaysia Marine and Heavy Engineering turns to profit in Q4
LNG carrier repair specialist Malaysia Marine and Heavy Engineering reported a profit during the fourth quarter of 2017 despite a lower revenue. MMHE reported a net profit of 47.13 million ringgit ($12.07m) for its fourth quarter versus a net loss of 119.7 million ringgit in the same quarter last ye
Number of Norway-Flagged Ships Highest in a Decade
Norway has seen a record number of vessels in the Norwegian International Ship Register since 2008.
Statoil swings to profit in Q4
Norwegian energy giant and LNG operator Statoil swung to a quarterly profit due in part to rising oil and gas prices, and higher production. The company on Wednesday reported a fourth-quarter IFRS net income of $2.6 billion, compared to last year’s loss of $2.8 billion. Adjusted earnings were $4 bil
Aker Solutions brings its oil and gas skills into offshore floating wind
Norwegian oil services company Aker Solutions has invested in floating wind power technology company Principle Power Inc., forming an alliance that brings its offshore oil and gas field engineering expertise into a renewable energy market.
Spain’s GNF gets new CEO
Spanish LNG operator Gas Natural Fenosa named Francisco Reynés as new chief executive and chairman of the company’s board in a major leadership reshuffle. Reynes will replace Isidro Fainé Casas who served as president of Gas Natural Fenosa since 2016. Casas has been appointed honorary chairman, the
Update 2: Stricken MOL Boxship Taken Under Tow
A tug arrived at the location of the stricken MOL Prestige boxship and has started towing the ship.
QGEP: 2nd Carcara payment from Statoil imminent
Brazil’s QGEP has informed that Statoil has so far paid it half of the total purchase price for its stake in a block offshore Brazil, and that the remaining payments would be following soon.
Marseille Fos Hits Record Container Volumes
Marseille Fos handled a record 1.4 million TEU in 2017 which was the sixth consecutive year of growth for the port.
EMSA releases LNG bunkering guidance
The European Maritime Safety Agency (EMSA) has on Thursday issued a guidance on liquefied natural gas (LNG) bunkering. The document named “Guidance on LNG Bunkering to Port Authorities and Administrations” was prepared in close cooperation with the European Commission (DG MOVE), member states and in
Video: MOL Prestige Medevac
Canadian Armed Forces have released a video of the rescue operation of MOL Prestige crew members.
Total and MOL in charter deal for large LNG bunker vessel
A unit of French energy giant Total and Japan’s Mitsui O.S.K. Lines (MOL) have signed a long-term charter contract for a large liquefied natural gas (LNG) bunker vessel. The vessel that will have a capacity of 18,600 cbm is scheduled for delivery in 2020. It will operate in Northern Europe and will
EU Goes from 12.6GW to 15.8GW of Offshore Wind in One Year
Europe added close to 3.2GW of offshore wind capacity last year, taking the total installed and grid-connected capacity from 12.6GW in 2016 to 15.8GW at the end of 2017 and thus marking a 25% increase in just one year. Including sites with partial grid connection, there are now 92 offshore wind farm