By Yoshifumi Takemoto TOKYO (Reuters) – Japan Bank for International Cooperation (JBIC), a major backer of mining and energy projects for Japanese companies, said it will be cautious on lending to the resources sector despite a rally in commodity prices this year. With oil prices surging around 40 p
SacOil, an independent African oil and gas company, has settled its legal dispute with Nigel United Oil Company regarding the Oil Prospecting License (OPL) 233 offshore Nigeria. OPL 233 is an offshore oil block that is located in the shallow marine area of the prolific Niger Delta region. It encompa
The implementation of a global low-sulphur fuel law for ships in 2020 would prevent 200,000 premature deaths globally, a health study by a group of leading researchers from the United States and Finland reveals. The announcement was made after the international shipping association BIMCO raised conc
Australian Petroleum Production and Exploration Association (APPEA), a body representing the Australian oil and gas industry, is disappointed by BP’s decision not to pursue its proposed exploration project in the Great Australian Bight. To remind, the oil giant on Tuesday said it wouldn’t move ahead
Over 300 Norwegian oil services workers on Tuesday ended the strike that started almost three weeks ago as the Norwegian Oil and Gas Association and the Industri Energi union have reached an oil service agreement. The service workers in Norway went on strike in September after mediation over the col
Russia and Turkey have agreed to press ahead with the construction of an undersea pipeline that will carry Russian gas through the Black Sea to Turkey. The two countries’ energy ministers signed the deal in Istanbul on Monday, in the presence of Russian president Vladimir Putin and Turkish prime min
Given the current conditions, the shipping industry needs supply-side re-positioning to help the markets back to improved health, and increased recycling in recent years has been a clear part of this, according to Clarksons Research. Since the start of 2009, a total of 206.6 million gross tons of sh
LNG production at Trinidad and Tobago’s liquefaction and export facility at Point Fortin dropped 40.2 percent in August as compared to the same month a year ago due to ongoing gas supply shortfalls in the country. Atlantic LNG’s 14.8 mtpa facility produced 1.46 million cubic meters in August, as com
International Energy Agency (IEA) has informed that OPEC oil supply was at an all-time high during September while growth in oil demand dropped to a four-year low in the third quarter of 2016. According to IEA’s newly released Oil Market Report for October, global oil supply rose by 0.6 million barr
Enarsa of Argentina is reportedly eyeing more cancellation and cargo deferrals during the month of October.
By Olesya Astakhova ISTANBUL (Reuters) – Igor Sechin, Russia’s most influential oil executive and the head of state-controlled energy giant Rosneft, said his company will not cap oil production as part of a possible agreement with OPEC. His comments underline how difficult it is for Russia to get it
French floating foundations designer Ideol will use a 2MW Vestas V80 wind turbine for the Floatgen project, the first of its kind in French waters, the company told Offshore WIND. ”The V80 wind turbine has effectively been delivered at Saint-Nazaire in June. The floating foundation construction is p
Norwegian offshore safety body, the Petroleum Safety Authority (PSA), has found a non-conformity during an audit of Engie’s follow-up of load-bearing structures and maritime systems on the Gjøa platform offshore Norway. The safety body identified one non-conformity during the audit relating to proce
A fire broke out on the cruise ship newbuilding Norwegian Joy at Meyer Werft shipyard in Papenburg, Germany, on the morning of October 8, 2016. The fire started on one of the balconies of the cruise ship’s Deck 9 at 7:50 am, and was brought under control at around 9:20 am, according to the local pol
