Oil and gas firms are seeking to rebalance business portfolios and are reorganizing for a new era, according to a survey by DNV GL, the technical advisor to the oil and gas industry. For 2017, the surveyed companies expect a drop in capital investments, increase in M&A activity and shows that cost
Global LNG sector will grow seven times faster than pipeline gas trade and is expected to account for around half of all globally traded gas by 2035, up from 32 percent now, BP said in its annual Energy Outlook on Wednesday.
The large number of very large container ships (VLCS) and ultra large container ships (ULCS) due to be delivered in 2017 is projected to be twice as high as 0.75 million TEU containership scrapping forecast for the year, according to Alphaliner. The overall delivery figure for the year stands at 1.6
London-based interdealer broker Tullett Prebon, joined forces with Singapore Exchange (SGX) to develop a spot pricing index for the Middle East and Indian LNG markets.
Egypt’s Damietta Port revealed that its ship and cargo traffic saw a significant increase in 2016, compared to the previous year. Cargo throughput at the port went up by 12 percent in 2016 and rose to 32 million tons from 28.6 million tons in 2015. The port recorded a 53.1 percent rise in its export
The most popular articles of the week, January 16 – 22, 2017
The world’s top oil companies are back in acquisition mode, targeting smaller exploration and development firms to boost oil and gas reserves rather than the mega-mergers that followed previous slumps in crude prices.
The downward trend in oil spills from tankers continues, according to the latest annual statistics issued by the International Tanker Owners Pollution Federation Limited (ITOPF). The average number of large oil spills from tankers, greater than 700 tons, has progressively reduced and since 2010 aver
By Libby George and Christopher Johnson LONDON (Reuters) – Oil bounced back from a one-week low on Thursday as the International Energy Agency (IEA) said global oil markets were tightening even before cuts promised by OPEC and other producers could take shape. Oil prices have gyrated this year as th
By Ron Bousso LONDON (Reuters) – The world’s top oil companies are back in acquisition mode, targeting smaller exploration and development firms to boost oil and gas reserves rather than the mega-mergers that followed previous slumps in crude prices. Since late November, major oil companies have ann
By Henning Gloystein SINGAPORE (Reuters) – Oil dipped on lingering doubts that crude production cuts would go deep enough to curb a global fuel supply glut, with sentiment worsened by concerns over the health of the Chinese economy after it reported the steepest falls in exports since 2009. Brent cr
Driven by the success of Eni’s major Zohr field gas discovery offshore Egypt in 2015, companies are rethinking the Eastern Mediterranean region’s gas potential, according to a new analysis from IHS Markit, an information and analytics group. Total’s announcement that it will drill a 2017 exploration
By Henning Gloystein SINGAPORE (Reuters) – Oil rose on Wednesday, lifted by reports of Saudi supply cuts to Asia, but gains were capped by a lack of detail about the reductions and because of signs of rising supplies from other producers. Prices for Brent futures, the international benchmark for oil
More crew were kidnapped at sea in 2016 than in any of the previous 10 years, despite global piracy reaching its lowest levels since 1998, according to the ICC International Maritime Bureau’s (IMB) annual piracy report. In its 2016 report, IMB recorded 191 incidents of piracy and armed robbery on th
