News
Unions Welcome Qatar’s Pledge to End Kafala System
Qatar has announced a labor reform which seeks to terminate the so-called “kafala system”, a form of indentured labor that in practice has resulted in preventing migrant workers from leaving the country by their employers. The step is being taken following the pressure from the International Trade U
Chart’s profit slides despite LNG FEED activities picking up
US LNG engineer, Chart Industries reported a drop in net income of $1.5 million for the third quarter of 2017.
Aker Solutions bolsters LNG team
Aker Solutions of Norway hired four LNG specialists to bolster its liquefied natural gas capabilities to capitalize on the expected surge in global demand for the fuel.
Aker Solutions targets LNG market ‘as demand seen doubling’
Norwegian oil services company Aker Solutions is bolstering its liquefied natural gas (LNG) capabilities to capitalize on an expected surge in global demand for the fuel as energy companies transition to a low-carbon future. According to its statement on Friday, Aker Solutions has hired four special
ALE Details on Handling Rentel OSS Foundation Parts
Heavy transportation and lifting contractor ALE has informed that it carried out the weighing, transportation and load-out of the J-tube cage and transition piece (TP) for the Rentel offshore substation (OSS) foundation at the Navacel dock in Bilbao, Spain.
Sierra Leone to hold fourth offshore licensing round in 1H 2018
Sierra Leone’s Fourth Offshore Petroleum Licensing Round will take place between mid-January and the end of May 2018. This was announced by the Director General of the Petroleum Directorate of Sierra Leone (PDSL) Raymond Kargbo during the Africa Oil Week Conference in Cape Town, South Africa. The li
Clough, Wärtsilä to build PNG gas-fired power plant
Perth-based Clough said it has won a contract with Wärtsilä do develop a gas-fired power plant near Port Moresby in Papua New Guinea.
Polarcus prepares for 3D seismic work in Middle East
Marine geophysical company Polarcus has received a letter of intent from an unnamed client to pre-fund a multi-client XArray 3D seismic acquisition project in the Middle East. The project is due to start in the fourth quarter of this year and will run for approximately two months, Polarcus said in a
Chevron adds new name to board
Chevron Corporation named John Frank has been named to the company’s board of directors, effective November 2.
Lundin, TechnipFMC to set up new contract model for subsea projects
Oil company Lundin Norway and oilfield services provider TechnipFMC will collaborate in an effort aimed at making more development projects on the Norwegian shelf profitable. The plan calls for better utilization of the expertise in both companies to identify the smartest solutions, Lundin explained
GasLog Partners see rise in profit
GasLog Partners, the New York-listed spinoff of LNG shipper GasLog reported a profit of $25.4 million for the third quarter of 2017.
Moore Stephens: Vessel Operating Costs to Rise in 2017 and 2018
Vessel operating costs are expected to increase in both 2017 and 2018, according to the latest survey by international account and shipping consultant Moore Stephens. Repairs & maintenance and spares are the cost categories which are likely to increase most significantly in each of the two years. Th
O’Globo: First oil from Libra on November 15
First oil production from the giant Libra oil field offshore Brazil is expected to be achieved on November 15, 2017. According to Brazil’s O’Globo news paper, the new date has been shared by the Petrobras Libra Project Manager, Orlando Ribeiro. O’Globo reports that the new date marks a four month de
Drewry: spot LNG fleet bracing for 2017 operating loss
The pressure on LNG shipping spot rates will continue for another year on account of strong fleet growth, before strengthening in 2019 with slowing fleet growth and strong trade.