The Middle East is the only region to buck the downward trend in offshore supply vessels (OSVs) over the last two years, according to new analysis released on Wednesday by IHS Markit, an information and analytics group. Demand in the region has remained steadfast since the decline in the price of oi
China-focused E&P company Primeline Energy has settled its dispute with Zhejiang Natural Gas Development Company in relation to the gas sales contract (GSC) for LS36-1, off China. The company has been in dispute with Zhejiang Gas regarding the price payable under the gas sales contract. According to
Texas LNG selected Samsung Engineering and KBR for the construction of its proposed 4 mtpa LNG export facility at the Port of Brownsville in South Texas.
U.S. oil giant ExxonMobil will increase its spending this year by 16 percent compared to the previous year and start up five major upstream projects in the next two years. ExxonMobil Corporation is positioned to succeed in any price environment by maximizing the competitive advantages of its integra
Cooper Energy Limited, an Australian oil and gas E&P company, has ceased all international operations with the closure of operations in Tunisia and the completion of the sale of Indonesian operations. Cooper said on Thursday that the company received the initial consideration of $500,000 and 180,000
UK-based energy giant and LNG player BP agreed on Wednesday to buy Clean Energy Fuels Corp’s biomethane production facilities in the U.S. for $155 million. BP will take over Clean Energy’s existing and two new biomethane production sites as well existing third party supply contracts for renewable na
Gazprom’s gas exports to the Greek market in 2016 reached 2.68 billion cubic meters, 35 percent increase from the volumes recorded in 2015.
Italy’s Eni intends to turn its gas and power business into the company’s global gas and LNG marketing arm.
Höegh LNG Partners, the Bermuda-based limited partnership formed by Norway’s Höegh LNG, reported a rise in its net income for the fourth quarter of 2016.
The International Longshoremen’s Association (ILA) urged its members not to stage any strikes as the union intends to seek emergency meeting with members of the US Congress. Last week, the association called for a one-day shutdown of US East Coast and Gulf Coast ports to protest over job losses. The
Product tanker orderbook has dropped to its lowest level in nearly 17 years as it was equivalent to 10.2% of fleet capacity at the start of February 2017, a low not seen since August 2000, according to Clarksons Research. At the start of February, the product tanker orderbook of 10,000+ dwt vessels
Italian oil and gas company Eni on Wednesday reported a fourth-quarter profit as oil and gas prices rose. Eni reported an adjusted net profit of 459 million euros ($484 million) for the fourth quarter as compared to an adjusted net loss of 301 million euros in the same period a year ago. This is the
Dubai-based Dar Group has bought a 13.35 percent stake in the oilfield services provider WorleyParsons, after its takeover bid in 2016 was rejected. “Dar Group views WorleyParsons as the preeminent energy and design consultancy globally and respects the role the Chairman, Board and management team h
Independent Oil and Gas (IOG) expects to sign a sale and purchase agreement for the UK Southern North Sea pipeline by the end of March. The company said on Tuesday that “substantial progress” was made on the agreement and it’s now expected that all the pipeline owners should be in a position to sign
