News
Beatrice Foundation Piles Falling Into Place
Almost 20 percent of piles for jacket foundations at the 588MW Beatrice offshore wind farm have been installed so far, Beatrice Offshore Windfarm Ltd (BOWL) reports.
Beatrice Foundation Piles Falling Into Place
Almost 20 percent of piles for jacket foundations at the 588MW Beatrice offshore wind farm have been installed so far, Beatrice Offshore Windfarm Ltd (BOWL) reports.
OPEC extends oil output cut by nine months to fight glut
By Rania El Gamal, Ernest Scheyder and Alex Lawler VIENNA (Reuters) – OPEC decided on Thursday to extend cuts in oil output by nine months to March 2018, OPEC delegates said, as the producer group battles a global glut of crude after seeing prices halve and revenues drop sharply in the past three ye
US Ports Get Funds for Deepening Projects
The US is investing in deepening projects to allow for the arrival of ever bigger ships in its ports, according to the FY 2017 Work Plan released by the US Army Corps of Engineers (USACE) on May 24. Namely, Jacksonville Port will receive a total USD 17.5 million to begin construction of the deep dra
OPEC meets to talk further oil output cut extension
OPEC and several non-OPEC members are meeting on Thursday in Vienna to discuss further strategy on oil production. To remind, 13 OPEC members and 11 Non-Opec members (most notably Russia) in December last year agreed to cut oil output by 1.8 million barrels a day in order to stabilize oil prices. Th
Hoegh LNG Partners net income, revenue rise in Q1
Höegh LNG Partners, the Bermuda-based limited partnership formed by Norway’s Höegh LNG, reported a rise in its net income for the first three months of this year. In its quarterly report, the MLP said its net income for the first quarter reached $16.2 million, an increase of $17.2 million from net l
Trump allocates $205 million for offshore safety body
U.S. president Donald Trump has proposed a $204.9 million Fiscal Year (FY) 2018 budget for the Bureau of Safety and Environmental Enforcement (BSEE). The BSEE is a department responsible for safety in the U.S. offshore energy industry. The FY 2018 budget request is $204.9 million, a $600,000 increas
Reliance Power to build LNG-fueled power plant in Bangladesh
India’s Reliance Power has been authorized by the Cabinet Committee on Public Purchase to build a 718 MW gas-fired power plant in Bangladesh.
Vallianz set to resolve debt woes
Singapore-based offshore vessel owner Vallianz has reached agreements with Swiber and Rawabi to restructure its $138.7 million debt. Swiber, which holds 903,534,986 shares or 20.9% equity interests in Vallianz, had on October 13, 2016 notified the company of its interest to participate in the renoun
Maine PUC declines funds for new LNG peakshaving plant
The Maine Public Utilities Commission (PUC) declined funding for a new LNG peakshaving facility in the U.S. northeasternmost state.
Boxship Captain Commits Suicide During Transatlantic Voyage
A captain of a container ship has apparently committed suicide during a voyage from New York, United States to Tilbury, the UK, according to Apostleship of the Sea (AoS). The 2,824 TEU Santa Bettina was one week into its voyage when the captain apparently took his own life on board, leaving its crew
OOCL France Becomes Largest Ship to Transit Panama Canal
Image Courtesy: Panama Canal Authority The Panama Canal welcomed the 13,208 TEU OOCL France on May 24, the largest vessel to transit the Expanded Canal since its inauguration in June 2016. The Neopanamax boxship, which features a length of 366.5 meters and a width of 48.2 meters, transited the water
First oil from Kraken expected by end of June
EnQuest has informed that its Kraken field in the UK North Sea is expected to start producing oil by the end of June. The Kraken field, to be developed using the Armada Kraken FPSO, is a large heavy oil accumulation located in the East Shetland basin, to the west of the North Viking Graben some [&he
SeaBird keeps ‘Osprey Explorer’ busy in West Africa
SeaBird Exploration has signed a letter of award for some additional work in West Africa for an undisclosed client. The project is due to start in late second quarter and will have a duration of approximately two weeks. SeaBird will be using the Osprey Explorer for the project. The company did not p