Houston-based LNG engineer KBR has been awarded a Front-End Engineering Design (FEED) and project management services contract for Oman LNG.
Israel’s Delek Drilling and Avner Oil Exploration, both subsidiaries of Delek Group, have completed the previously announced merger. The two companies on Wednesday received a merger certificate from the Registrar of Partnerships, thus fulfilling all the preconditions for the merger to take place. Th
Fluxys-operated Zeebrugge LNG terminal is scheduled to receive a cargo of liquefied natural gas next month.
OPEC’s net oil exports revenues in 2016 fell to $433 billion, or some 15 percent from $509 million in 2015. This is according to a report by the U.S. Energy Information Administration. EIA said the reason for the decline was mainly due to the fall in average annual crude oil prices during 2016, and
The Baltic Dry Index (BDI) fell to 994 points on Monday, May 15, down by 20 points, tumbling again below the 1,000 threshold. The index broke the 1,000 mark in March this year driven by an increase in rates across the sector and managed to stay above the line for over two months. However, the market
Saudi Arabia has ratified the Ballast Water Management (BWM) Convention, which is scheduled to enter into force on September 8, 2017. Saudi Arabia deposited its instrument of accession with the International Maritime Organisation (IMO) on April 27. The accession brings the number of contracting part
Singapore’s offshore vessel owner POSH has yet to resolve its dispute with Makamin Offshore in Saudi Arabia. POSH last year started legal action against Makamin, seeking $6.6 million owed for vessel charters. This claim was dismissed by Makamin, who then filed a counter lawsuit. More here: https://b
By Chen Aizhu BEIJING (Reuters) – Saudi Arabia and Russia, the world’s two top oil producers, agreed on Monday to extend oil output cuts for a further nine months until March 2018 to rein in a global crude glut, pushing up prices. The timing of the announcement ahead of OPEC’s next official meeting
Preliminary data from Drewry’s Container Trades Statistics (CTS) indicates that world container traffic surged by 10% year-on-year in the first quarter of 2017, fuelled mainly by spikes in imports and exports from China. The CTS numbers point to intra-regional trade as the primary driver of growth w
One crewman died and four were injured when a tanker carrying oil products caught fire at Hamriyah Port, Sharjah, the United Arab Emirates (UAE), Sharjah Civil Defense said. The tanker, identified as the 1991-built Ebrahim 1, caught fire in the early morning hours of Saturday, May 13. The four injur
GAC Qatar has set up an office at the Ras Laffan LNG complex, becoming one of the few companies offering full agency services at the port operated and managed by Qatar Petroleum.
The most popular articles of the week May 8 – 14, 2017.
By Alex Lawler LONDON (Reuters) – OPEC on Thursday sharply raised its forecast for oil supply from non-member countries in 2017 as higher prices encourage U.S. shale drillers to pump more, hampering OPEC efforts to clear a glut and support prices by cutting its output. In a monthly report, the Organ
South Hook LNG terminal in the UK is scheduled to receive another cargo of Qatari liquefied natural gas next week.
