Westport Innovations, the global leader in natural gas engines, today said that it has signed a development agreement with a leading global engine manufacturer to develop a heavy-duty truck engine featuring Westport proprietary high pressure direct injection (HPDI) technology for the North American
El Paso Corporation today reported net income of $185 million for the fourth quarter of 2011, compared with $62 million, for the fourth quarter 2010. For the 12 months ended December 31, 2011, El Paso reported net income of $141 million, compared with $721 million, for the full-year 2010. Highlights
Cheniere Energy Partners (CQP) said today that it has entered into an exclusive arrangement with Blackstone Energy Partners, Blackstone Capital Partners, and certain affiliates to finalize and execute definitive agreements under which Blackstone would purchase newly issued CQP Senior Subordinated Pa
The Mekaines LNG carrier, with a capacity of 266,000 cubic metres, is due to arrive in the UK’s South Hook terminal March 3, 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 billion cubic metr
Nigeria’s Bonny LNG terminal shipped a cargo of liquefied natural gas yesterday, according to shipping data. The cargo is being hauled by the LNG Akwa Ibom, a 141,000 m3 cubic-meter tanker. The destination of the cargo is unknown at this moment. Bonny terminal has an overall capacity of some 22 mill
Qatar Petroleum is considering buying into an Australian export boom that poses the only serious challenge to its place as the world’s top LNG producer, Reuters reported, citing Abdulrahman Al-Shaibi, director of finance at QP. “I think we are exploring all geographical places that would really achi
QNB Capital said in a report that it estimates that Qatar’s nominal GDP reached QR 628bn (US$172bn) in 2011. This equates to 2.5% of global GDP and 12.5% of GDP in the GCC. Qatar’s share of global and regional GDP has risen from 2.0% and 11.8% in 2010, respectively. This is a consequence of exceptio
Australia’s Icon Energy and Beach Energy said they have commenced a 425 kilometre 2D seismic acquisition programme within their Queensland Permit ATP855P in the Cooper Basin. Icon Energy’s Managing Director Mr James said, “the seismic crew began the preliminary line preparation work at the end of Ja
Saint Petersburg hosted a meeting between Alexey Miller, Gazprom’s CEO and Christophe de Margerie, CEO of Total. The meeting discussed the main issues of Phase 1 implementation at the Shtokman field and, inter alia, the scope of work over a period until the Final Investment Decision is made. The Sht
Maersk of Denmark said that its revenue for 2011 increased by 7% to USD 60.2bn (USD 56.1bn), positively affected by higher oil prices and container volumes but offset by lower container freight rates. Profit was USD 3.4bn (USD 5.0bn) and thus in accordance with the latest announced outlook of USD 3.
Golar LNG Limited said that the company has entered into firm contracts with Samsung Heavy Industries for a further two LNG carriers. The two additional vessels, each with a capacity of 160,000cbm have a combined total cost of slightly above $400 million. The first of the carriers is scheduled for d
Fortune Oil confirmed that China Gas Group Limited, its Joint Venture with Mr. LIU Minghui, and Fortune Max Holdings Limited have together purchased 25,142,000 additional shares in China Gas Holdings Ltd since the announcement made on 17 February. Fortune Max is a private company controlled and bene
The Yokohama Rubber Co. said that it has developed a system to monitor offshore Ship-To-Ship (STS) operation. The system incorporates technology from the design of pneumatic fenders and the numerical simulation analysis of dynamic ship motion. This is a comprehensive monitoring system for offshore S
Liquefied natural gas exports from the Angola LNG project will start in May, rather than in March, due to the need to make further tests at the terminal, state news agency Angop reported, citing Sonangol’s executive director, Mateus de Brito. Speaking at a press conference called to mark the 36th an
