Norwegian-based offshore supply vessel owner Boa Offshore has received payment related to a canceled charter by Gulmar Offshore for its former vessel Boa Rover. The company’s 100% owned subsidiary, Boa Shipping, received approximately $16 million as dividend on its claim against Gulmar Offshore Midd
Qatar’s Nakilat, the world’s largest LNG shipper, said its net profit for the year 2016 dropped 3 percent compared to the previous year.
The Hague-based LNG giant Shell on Monday launched its first” LNG Outlook”, an assessment of the global liquefied natural gas (LNG) market. According to the outlook, global demand for gas is expected to increase by 2% a year between 2015 and 2030 while LNG demand is set to rise at twice that rate at
Qatar on Monday inaugurated the Ras Laffan 2 refinery, doubling the country’s condensate refining capacity to 292,000 barrels per day.
By Rania El Gamal RIYADH (Reuters) – OPEC could extend its oil supply-reduction pact with non-members or even apply deeper cuts from July if global crude inventories fail to drop to a targeted level, OPEC sources said. The group, together with Russia and other non-OPEC oil producers, agreed late las
Although the liquefied petroleum gas (LPG) shipping trade is expected to continue growing on the back of strong Asian demand, the rates could fall further in 2017 due to continued oversupply, according to shipping consultancy Drewry. 2017 is expected to be no different from 2016, when LPG shipping r
DUBAI (Reuters) – Iran’s oil minister has criticised French oil company Total <TOTF.PA> for its decision to delay signing a contract to develop a gas field in southern Iran, saying that the reasons given by Total’s chief executive were “unacceptable” to Tehran. Total was the first Western energy com
By Christopher Johnson LONDON (Reuters) – Oil strengthened slightly on Tuesday, supported by an OPEC-led effort to cut output while rising production elsewhere kept prices within the narrow ranges that have contained them so far this year. Brent crude <LCOc1> was 55 cents higher at $56.14 a barrel b
The UK-based Coda Octopus informed that the Dutch company Van Oord has completed ground improvement project for Kuwait National Petroleum Company’s (KNPC) site for the oil refining plant and an LNG import terminal.
Heavy lift vessel (HLV) contractors have faced a challenging market in recent years as the low oil price environment combined with a shift towards subsea installation and deepwater activity has seen fixed platform installations decline globally, Douglas-Westwood said in its DW Monday report. Accordi
Singapore’s Vallianz has reported a net profit of $3.1 million for the three months ended December 31, 2016, a drop from $4.7 million a year earlier. Revenue for the quarter was $41.4 million, around 12 percent down $47 million recorded in the fourth quarer of 2015. The offshore vessel owner, doing
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The estimated OPEC production in January was at 32.1 mb/d and the cuts achieved a record initial compliance rate of 90%, the International Energy Agency (IEA) said in its Oil Market Report. To remind, the OPEC members and Russia in November 2016 reached a deal to reduce oil production in order to de
Large upstream projects are more often delivered by a group of partners rather than a single 100% owner.
