Baker Hughes said today that its operating profit before tax for the first quarter of 2012 is expected to be lower than the fourth quarter of 2011 primarily due to rapidly changing market conditions in the Pressure Pumping product line in North America and seasonality in all international markets. A
Australia’s resources and energy commodity export earnings are forecast to continue to grow over the medium term to reach a record $225 billion (in 2011–12 dollars) in 2016–17. The forecast was released today in the Bureau of Resources and Energy Economics’ (BREE) Resources and Energy Quarterly—Marc
Statoil said it intends to establish a new operational area on the Norwegian continental shelf, which will be based in Harstad with start-up in the first half of 2013. Statoil is setting up a separate operational area in Northern Norway due to the considerable increase in activities taking place off
Indonesia’s gas sector has contributed Rp 40 trillion in subsidy to Indonesia’s economy in 2011, according to BPMIGAS. “If calculate, the average prices for the domestic market range from US$5 to US$6 MMBTU (million British thermal unit), while the (average) gas prices for exports are between US$12
Spain’s Bilbao import terminal is scheduled to receive a shipment of LNG from Trinidad next week, according to port data. The cargo is being carried by the Sohar LNG carrier, with a capacity of 137,248 cubic metres, and it is due to arrive at the Bilbao terminal on March 27. The LNG carrier departed
Mitsubishi Heavy Industries (MHI), through its wholly owned subsidiary in the U.S., Mitsubishi Power Systems Americas (MPSA), has received an order from Virginia Electric and Power Company (VEPCO) in the U.S. to supply three M501GAC gas turbines and one steam turbine to be installed at VEPCO’s Bruns
Norwegian marine transportation company I.M. Skaugen SE said it is contemplating a new senior unsecured bond issue with final maturity in April 2017. The contemplated bond issue will have a minimum issue amount of NOK 350 million. Net proceeds from the contemplated bond issue will be used to refinan
The Umm Slal LNG carrier, with a capacity of 266,000 cubic metres, is due to arrive in the UK’s South Hook terminal from Qatar on March 28, according to the Milford Haven Port Authority website. The South Hook terminal can process 15.6 million tonnes of LNG a year and is capable of delivering 21 bil
Trinidad and Tobago’s Point Fortin LNG terminal shipped a cargo of liquefied natural gas yesterday, according to shipping data. The cargo is being hauled by the Bilbao Knutsen, a 138,000 cubic-meter tanker, and it is due to arrive at the Canaport terminal in Canada on March 28. Trinidad and Tobago’s
On 6 March, SCF Group held its annual technical and professional human resources conference entitled “The development of fleet manning by professional crews, in support of SCF Group’s Strategy to 2017”. This year the conference was arranged in the form of an enlarged Executive Board meeting of the c
Taiwan’s Yung-An LNG terminal is due to receive a cargo of liquefied natural gas from Malaysia this week, according to Kaohsiung Port Authority. The 130,000 cbm Puteri Firus Satu tanker, operated by MISC, will reach Yung-An LNG import terminal on March 21. The Yung-An terminal is Taiwan’s first liqu
Poland’s PGNiG said its 2011 net profit was PLN 1.63bn, having fallen by PLN 831m year on year due to losses incurred on gas sales. One of the main factors driving down net profit was a 6 pp drop in margin on sales of high-methane gas, which declined from 3% in 2010 to -3% in […]
China National Petroleum Corporation (CNPC) and Shell China Exploration and Production Company today signed a Production Sharing Contract (PSC) for shale gas exploration, development and production in the Fushun-Yongchuan block in the Sichuan Basin, China. Subject to government approval, this is the
Qatargas plans to shut at least two of three trains at the QatarGas 1 project in late April for 13 to 23 days for maintenance. QatarGas will also shut its fourth train, part of QatarGas 2 project, in September for more than a month, Bloomberg reported, citing unnamed sources. The company is the larg
