News
Nam Cheong stops servicing debt amid restructuring talks
Nam Cheong, a Singapore-listed offshore vessel owner, on Thursday said it would temporarily stop repayment on all of the company’s borrowing, while it looks at the debt restructuring options. This means, Nam Cheong said, that the company will not be making payment of the next coupon payment due on J
Order Intake at Chinese Shipyards Down 29 Pct in H1
The influx of new orders at shipbuilding yards in China has dropped by 29 percent during the first half of this year, standing at 11.5 million DWT, resuming the downward trend. At the end of June, the order backlog stood at 82.24 million DWT, down 30.5% year on year, according to the figures release
Poland’s PGNiG boosting LNG imports
Poland’s state-owned gas company PGNiG on Wednesday reported a rise in its natural gas sales boosted by liquefied natural gas (LNG) volumes. PGNiG’s natural gas sales rose almost 20 percent on year in the second quarter to 5.63 billion cubic metres (bcm). First half gas sales increased 14.3 percent
Exxon takes legal action over Treasury’s Russia sanctions penalty
ExxonMobil is taking legal action challenging the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) move to penalize the oil company for alleged violations of sanctions against Russia. In a statement on Thursday, the Treasury said OFAC had assessed a $2,000,000 civil monetary
GTT’s six-months revenue declines
GTT, the French maker of LNG containment systems, reported a revenue of €111.3 million ($129.8 million) for the first six months of 2017, a 4.7 percent drop from the corresponding period in 2016.
Vaalco Energy forced to shut well offshore Gabon
Houston-based oil and gas company Vaalco Energy has been forced to temporarily shut in a well at the Avouma platform offshore Gabon due to a problem with an electrical submersible pump. Vaalco said that an electrical submersible pump (ESP) in the South Tchibala 2-H well failed on July 18, resulting
TransCanada’s gas pipeline for PNW LNG hits legal snag
Canada’s Federal Court of Appeal has sent the National Energy Board’s decision regarding the provincially approved TransCanada’s Prince Rupert Gas Transmission pipeline proposal back for re-determination.
11 Indian Crew Rescued from Sunken Ship
Eleven crew members of MV ITT Panther cargo ship were rescued after their ship sank some 200 nautical miles from Port Blair, on Thursday, July 20, India’s Defence Ministry said. The crew managed to send a distress signal to the Coast Guard once their ship started listing beyond control only to capsi
EIA: Sabine Pass LNG exports flat on week
Cheniere’s Sabine Pass liquefaction terminal in Louisiana, currently the only such a facility to ship U.S. shale gas overseas, has exported four cargoes of the fuel in the week ending July 19. Four vessels with a total LNG-carrying capacity of 14.3 billion cubic feet (Bcf) departed Sabine Pass from
Schlumberger to buy majority stake in Russian drilling firm
The world’s largest oilfield services provider Schlumberger is buying a majority stake in the Russian drilling contractor Eurasia Drilling. The news was revealed by both Schlumberger and Eurasia Drilling on Thursday. Schlumberger is going to acquire a 51% stake in the drilling company. Alexander Dja
Vroon’s newbuild subsea support vessel named in Amsterdam
Dutch provider of offshore support vessels, Vroon Offshore Services, has named the newest addition to its fleet in a ceremony held on Thursday, July 20. The vessel was named the VOS Start at Damen Shiprepair in Amsterdam by Tracie Moyes from the vessel’s first charterer MHI Vestas Offshore. VOS Star
Wind First! Bibby WaveMaster 1 Hired for Galloper OWF
James Fisher Marine Services, main offshore marine services contractor for the Galloper project, has chartered the new Bibby WaveMaster 1 service operations vessel (SOV) to support the commissioning works on the wind farm.
FERC progresses Annova LNG review
The United States Federal Energy Regulatory Commission is currently reviewing information submitted by Annova LNG on the proposed export project on the southern bank of the Brownsville ship channel.
Share the energy! Inspirational networking during Offshore Energy
In the afterhours of the first exhibition day, on Tuesday the 10th of October you, your colleagues, business partners and potential prospects are invited to enjoy dinner and drinks, music and entertainment in a relaxing environment during the Official Networking Event of Offshore Energy hosted by iP