News
Pieridae, Pétrolia to create first Canadian integrated LNG company
Canadian LNG project developer Pieridae Energy has agreed to acquire Pétrolia in a reverse takeover, creating a new publicly traded company Pieridae Energy Limited, to be known as Amalco.
EIA: OPEC’s oil exports revenue on growth path after 2004-low
OPEC’s net oil exports revenues in 2016 fell to $433 billion, or some 15 percent from $509 million in 2015. This is according to a report by the U.S. Energy Information Administration. EIA said the reason for the decline was mainly due to the fall in average annual crude oil prices during 2016, and
BDI Drops below 1,000 Mark
The Baltic Dry Index (BDI) fell to 994 points on Monday, May 15, down by 20 points, tumbling again below the 1,000 threshold. The index broke the 1,000 mark in March this year driven by an increase in rates across the sector and managed to stay above the line for over two months. However, the market
Oil firms name wind power exec as CEO of OGCI Climate Investments
The Oil and Gas Climate Initiative (OGCI), the ten-company oil and gas industry initiative whose members represent more than 20% of the world’s oil and gas production, has appointed Dr. Pratima Rangarajan as the chief executive officer of its newly-formed investment company, OGCI Climate Investments
Evergas takes delivery of its eight LNG-fueled carrier
Danish shipping company, Evergas, said it has taken delivery of all eight of LNG-fueled “Dragon” class vessels.
Gallery: 20,150 TEU MOL Triumph Visits Hamburg
Image Courtesy: HHM/Dietmar Hasenpusch The Port of Hamburg’s Container Terminal Burchardkai (CTB) welcomed on May 15 MOL Triumph, the first vessel with a loading capacity of over 20,000 TEU to visit this port. Delivered to Japanese shipping company Mitsui O.S.K. Lines (MOL) in March this year, the 2
Spanish April LNG imports down YoY
Spain’s imports of liquefied natural gas (LNG) dropped 14 percent in April as compared to the same month in the year before. LNG imports reached 10.38 terawatt hours (TWh) in April, as compared to 12.07 TWh the year before, according to the data provided by the Spanish LNG terminal operator, Enagás.
Cheniere increases notes offering to $1.5 bn
Houston-based LNG player Cheniere upsized the senior secured notes offering by its Cheniere Corpus Christi Unit.
Oceaneering nets Shell’s Appomattox flowline work
Shell has hired Oceaneering for the provision of services and products in support of the design, fabrication and installation of ancillary flowline hardware for the Appomattox development in the U.S. Gulf of Mexico. The scope of work for ancillary flowline hardware will include the procurement and i
Offshore well owner wins $41.6M in insurance dispute case
A Houston jury awarded Prime Natural Resources Inc. $41.6 million in an insurance breach of contract dispute with certain underwriters at Lloyd’s, London, over offshore oil facilities damaged by Hurricane Rita 12 years ago. According to a Monday report by the Houston Chronicles, the Houston-based pr
IAGC members make another step towards shooting seismic in Atlantic
Following last week’s move by the Department of Interior to rescind the previous administration’s ban on seismic survey applications in the Atlantic, seismic surveyors have reportedly notched another win. To remind, the Obama administration had ordered the Bureau of Ocean Energy Management (BOEM) to
DOE: U.S. LNG exports hit 143.7 Bcf in Jan-Mar
Liquefied natural gas (LNG) exports from Cheniere’s Sabine Pass liquefaction facility in Louisiana reached 143.7 billion cubic feet in the first three months of this year, the latest data from the U.S. Department of Energy shows. Cheniere’s Sabine Pass plant, currently the only such facility to ship
Saudi Arabia Becomes 55th State to Ratify BWM Treaty
Saudi Arabia has ratified the Ballast Water Management (BWM) Convention, which is scheduled to enter into force on September 8, 2017. Saudi Arabia deposited its instrument of accession with the International Maritime Organisation (IMO) on April 27. The accession brings the number of contracting part
Pieridae eyeing natural gas assets purchase
Canadian LNG project developer Pieridae Energy is looking to invest in natural gas resources to secure supply for its proposed Goldboro LNG project in Nova Scotia.