News
Rosneft cuts oil output with an eye to ramping up again
By Vladimir Soldatkin and Katya Golubkova MOSCOW (Reuters) – Russia’s Rosneft <ROSN.MM> is ready to resume full oil output quickly once OPEC-led cuts end as the country’s top producer has focused its own cuts on newer fields, its chief executive has said. Those cuts run until June 30, though oil min
Shell joins UK LNG industry group
The Hague-based LNG giant Shell joined UK LNG, an industry alliance working on the development of liquefied natural gas in the United Kingdom.
Woodside expects 15 pct production growth in next three years
Australian energy giant Woodside Petroleum is directing its efforts in the next couple of years toward production growth. Namely, the company expects its output over the next three years to grow by 15%. At its annual investor briefing day on Tuesday, the company outlined plans to further grow produc
N-Seatec Secures Offshore Wind Work
N-Seatec has been awarded a contract for the design, delivery and co-operation of a complete subsea pump spread to be used on two unidentified offshore wind farms.
Essar Shipping Adds Panamax Bulker
Indian shipping company Essar Shipping Limited (ESL) has added to its fleet Mahavir, a Panamax bulk carrier. The 74,005 dwt vessel, previously known as Jun Jie, was bought from China’s Fujian Ocean Shipping for USD 4.8 million in January this year, according to information provided by VesselsValue.
Kopeopeo Canal Dredging Step Closer
The large fences and dust cloth on the corner of SH30 and Kope Drain Road outside Whakatāne mark the start of construction of Containment Site 1 (CS1) for the Kopeopeo Canal Remediation Project. According to the project manager, Brendon Love, April and May had been a busy months working with the con
TLP wraps up initial works for turbine manufacturing plant
Tidal Lagoon Power (TLP) has completed the site investigation works for the Swansea Bay tidal lagoon’s turbine manufacturing plant.
Photo of the Day: First Wind Turbine at Galloper OWF
Innogy UK yesterday posted the first photo of the first wind turbine installed last week at the Galloper offshore wind farm.
Vallianz clinches work for four vessels
Vallianz Holdings, an offshore support vessels provider, has secured long-term charter contracts for four vessels valued up to $115 million in total. These contracts were awarded by a national oil company (NOC) in the Middle East, as well as two offshore marine services companies based in Egypt and
SR2000 sails to Hatston Pier for repairs
Scotrenewables Tidal Power (SRTP) will be conducting minor repair works on the export cable of its SR2000 floating tidal turbine.
Oman Shipping Company Goes Global with VLCC Chartering
Muscat-headquartered Oman Shipping Company (OSC) has officially set up a new commercial chartering desk offering its Very Large Crude Carriers (VLCCs) to traders and charterers covering VLCC routes worldwide. OSC controls a fleet of 51 vessels including 43 owned, out of which 33 vessels are tankers.
Low Rates Lead Diana Containerships to 1Q Loss
Greek-based containership owner Diana Containerships widened its net loss in the first quarter of this year, reaching USD 7.4 million, compared to a net loss of USD 5.8 million seen in the respective period of 2016. Time charter revenues, net of prepaid charter revenue amortization, were USD 3.8 mil
TGS to boost multiclient investment in 2017
Norwegian geophysical player TGS has increased its investment guidance for 2017 to approximately $260 million, which is a 20% increase from last year. The company informed on Tuesday it has secured prefunding commitments from clients to support additional multiclient investments in 2017. The new inv
India Steamship Sells Tanker Fleet to Centrofin
Tanker owner and operator India Steamship has sold its four strong LR2 tanker fleet to Greece’s Centrofin Management, VesselsValue’s data shows. The three 105,800 dwt tankers sold on May 22 for a combined price of USD 65 million are Ratna Namrata, Ratna Shradhra, and Ratna Shruti. All three vessels