News
Japan’s August spot LNG contract price reaches 5-month high
Prices of spot LNG cargoes imported into Japan and contracted in August reached a five-month high, according to the data provided by Japan’s Ministry of Economy, Trade and Industry. The July contract-based price was at $5.8 per million British thermal units (mmBtu) as compared to $5.6 per mmBtu the
Gulf of Mexico operators continue removing offshore staff due to Hurricane Irma
Oil and gas operators in the U.S. Gulf of Mexico continue to shut in operations and evacuate personnel from its offshore assets due to Hurricane Irma. Shell said on Friday that, as a precautionary measure, it had suspended some of its well operations and reduced staff at the eastern Gulf of Mexico a
Second Tanker Targeted by Pirates off Malaysia in Two Days
A liquefied petroleum gas (LPG) tanker was boarded by armed pirates on Thursday, September 7, while underway off Malaysia. As informed by the IMB Piracy Reporting Centre, four persons armed with a gun and knives boarded the LPG carrier while the ship was sailing some 35 nautical miles south-south ea
NRF: Cargo Volumes at Major US Container Ports to Slow Down in 2018
Growing imports at the US major retail container ports set an all-time monthly record this summer, and 2017 is forecast to reach a new yearly record, according to the monthly Global Port Tracker report published by the National Retail Federation (NRF) and Hackett Associates. However, despite the rec
Baker Hughes scores Zohr gig in Egypt
Baker Hughes, a GE company, secured a contract from Petrobel, a joint venture between a subsidiary of Italy’s Eni and the Egyptian General Petroleum Corp., for work on subsea production systems for the “supergiant” Zohr gas field. The contact is for the second phase of the Zohr gas field situated in
Baron Oil terminates Peruvian farm-in deal with Union
Baron Oil has terminated a farm-in agreement (FIA) with Union Oil & Gas Group (UOGG) for a working interest share in Block Z-34 offshore Peru. Baron said on Monday that the company took back its full 50 percent as a result of the termination. The initial FIA was supposed to increase UOGG’s stake to
Australia’s Origin to raise stake in Otway gas project
Sydney-based Origin Energy, the holder of a 37.5 percent stake in the Australia Pacific LNG project, said it will buy out Benaris’ minority stake in the Otway gas project and exploration ventures for $190 million ahead of the divestment of its Lattice Energy business. Under the terms of the deal, Be
Top News of the Week, 04 – 10 September 2017
Ireland Reveals Big Offshore Wind Plans Ireland’s state owned electricity company Electricity Supply Board (ESB) is seeking expressions of interest for the provision of renewable energy marine services related to offshore wind farms. World’s First Offshore Wind Farm Disappears from Horizon (Video) D
Top news of the week September 4-9
DNV GL: natural gas to become world’s primary energy source by 2035 Natural gas will become the largest single source of energy from 2034, according to a report by the classification society, DNV GL. Western Australia bans hydraulic fracturing Western Australia, home to several giant liquefied natur
Popular news, September 4 – 10, 2017
The most popular articles of the week.
Flex LNG denies raising new equity
Oslo-listed Flex LNG, the company controlled by billionaire John Fredriksen and an emerging player in the LNG shipping business, denied a media report that it is planning to raise new equity. Norwegian business newspaper Finansavisen on Friday reported that Flex LNG is in the process of raising new
Korea, Russia Look to Cash In from Northern Sea Route
Russia and Korea are working to bolster their maritime ties, especially as they eye the benefits of shipping through the Northern Sea Route. As Russia strives to build up its own shipbuilding capacity, it turned to Korea for the construction of its gas carrying ships. A Korean company has received a
Rosneft to order shuttle tankers for Arctic fields
Russian oil company Rosneft has made plans to build an unspecified number of shuttle tankers to be used for oil transport from its Arctic fields. Namely, Rosneft, its subsidiary Rosnefteflot, and Zvezda Shipbuilding Complex have signed an agreement of intent that envisages placing orders with Zvezda
JBIC may finance Novatek’s 2nd LNG export project
Japan Bank for International Cooperation (JBIC) is considering whether to provide financing for Novatek’s second LNG export project in the Russian Arctic. JBIC has already provided 200 million euros ($238 million) for Novatek’s giant Yamal LNG project, that is expected to be launched by the end of t