News
Japan’s spot LNG prices continue to drop
The average price of spot LNG for delivery into Japan that was contracted in April 2017 was at US$5.7 per mmBtu.
Clean Energy names compression unit head
Clean Energy Fuels, the North American provider of LNG and CNG as a transportation fuel, named Frank Meyer as president of its Clean Energy Compression unit.
Engie confirms takeover offer for E&P business
French energy company Engie has confirmed it has received an offer from Neptune Energy for its stake in its oil and gas exploration and production business. The confirmation follows an earlier report by Reuters which said the deal over Engie’s E&P business was imminent. Neptune, an investment firm e
Report: Egypt to cut down on LNG imports
Rising domestic natural gas production prompted Egypt to start talks with its LNG suppliers to cut down on contracted cargo deliveries.
Offshore Energy, IRO and NOGEPA collaborate during Opening Gala Dinner and Awards Show
‘Transformation through collaboration’ is the 2017 Offshore Energy theme which rings true even during the Opening Gala Dinner and Awards Show. Offshore Energy, together with IRO and NOGEPA, will act as host of this event. In doing so, they will promote and celebrate innovations and successes in the
OPEC sees much higher oil supply from rivals in 2017
By Alex Lawler LONDON (Reuters) – OPEC on Thursday sharply raised its forecast for oil supply from non-member countries in 2017 as higher prices encourage U.S. shale drillers to pump more, hampering OPEC efforts to clear a glut and support prices by cutting its output. In a monthly report, the Organ
Foreign offshore vessels safe in U.S. as Jones Act proposal scrapped
The U.S. Customs and Border Protection has withdrawn its proposal to amend the Jones Act in a way that would have made a bulk of international offshore vessels banned from operating in the U.S. waters. The Jones Act, passed in 1920 prevents foreign-flagged ships from shipping merchandise between poi
Maersk Supply Service first quarter loss deepens
Danish offshore shipowner Maersk Supply Service (MSS) has posted a deeper net loss for the first quarter of 2017 due to lower utilization and lower rates. The offshore vessel owner said in its financial report posted on Thursday that revenues decreased to $48 million in 1Q 2017 compared to $110 mill
Bangladesh to develop LNG fueled power plant
The state-owned North-West Power Generation Company issued an invitation for pre-qualification for the engineering, procurement, construction and commissioning of a Rupsha 800 MW power plant.
Agility Makes Oseberg Vestflanken 2 Deliveries
Norwegian manufacturer of subsea equipment, Agility Subsea Fabrication (ASF) has delivered 2 pipeline end manifolds (PLEMs) and 3 subsea pipeline end termination (PLETs) destined for the Oseberg field, Vestflanken 2 development. The structures have been manufactured at the company’s largest producti
VV: Greece Takes the Lead in Newbuilding Orders
Greek shipowners placed the highest number of newbuilding orders so far this year, as these companies ordered a total of 35 new bulkers and tankers since the start of 2017, according to VesselsValue. Globally only 119 orders have been placed. Greece leads the way, followed by the US with 14 new cont
Odfjell Stable Despite Challenging Chemical Tanker Market
Despite a challenging chemical tankers market, Norwegian shipping and tank terminal company Odfjell delivered a stable underlying operational performance with EBITDA of USD 46 million compared to 48 million reported in the fourth quarter of 2016. Odfjell’s revenue slowed slight improvement in the fi
Input Invited on Kingsbury Bay and Grassy Point Restoration
The Minnesota Department of Natural Resources is hosting a public meeting to present project details and receive public input on a restoration project proposed for Kingsbury Bay and Grassy Point in the St. Louis River. The meeting will be held on Wednesday, May 24, from 6 p.m. to 8 p.m. at City Cent
Crowley to supply more LNG to Puerto Rico
Crowley Maritime’s liquefied natural gas services group has been awarded a multi-year contract to supply additional volumes of containerized, U.S.-sourced LNG to a pharmaceutical company’s manufacturing plants in Puerto Rico.