Japanese LNG project developer Inpex expects 26 billion yen ($235 million) in net profit for the fiscal year ended March 31, two times lower than its previous forecast of 52 billion yen. The company said in a statement on Tuesday it expects to book 67 billion yen ($606 million) in impairment charges
Finland’s Wärtsilä has secured a contract to design a jack-up lift vessel for a Chinese yard. While Wärtsilä claims the contract has been signed with a well known Chinese yard, it did not reveal the name of the yard. The Finnish company said there was an option for three more vessels. The Wärtsilä d
Norwegian oil services company Aibel has once again decided to reduce its workforce in Norway citing current market environment. After 100 layoffs in Stavanger reported in January 2016, Aibel is cutting 500 more jobs, half of those in Stavanger. The company has around 4,500 employees worldwide, and
Van Oord, a Dutch company providing dredging and offshore services, will have a new Chief Financial Officer by the end of 2016. Rotterdam-based company said on Tuesday its current CFO Arjan van de Kerk will retire at the end of the year after having been employed at Van Oord for 18 years. In his pla
Canada’s Fortis on Monday revealed it has closed the acquisition of the Aitken Creek gas storage from Chevron Canada Properties, a unit of the energy giant Chevron.
Tullow Oil has awarded a contract to Jee Ltd, the subsea engineering and training firm, to investigate the most appropriate options for decommissioning their Thames area assets. The contract relates to the decommissioning of the Horne, Wren, Wissey, Orwell and Thurne fields in the Southern North Sea
Indonesian oil and gas services company, Elnusa, has purchased a seismic vessel at the beginning of the second quarter of 2016 to support the national oil and gas exploration activities in Indonesia. The seismic vessel has the capacity to carry 12 streamers with each streamer length of up to 10 km.
Oil and gas giant Royal Dutch Shell has reportedly decided to withdraw from Norway’s Arctic-focused licensing round. When it comes to reasons behind this decision, Reuters quoted the company’s statement as saying, “The decision is part of an optimization of Shell’s global portfolio following the acq
Carl Barbier, United States District Judge has approved a settlement between the U.S. and BP, over damages stemming from the 2010 Deepwater Horizon disaster, under which BP is to pay approximately $20 billion in installments by 2031. The consent decree ordered by the judge addresses civil claims aga
The Maritime and Port Authority of Singapore (MPA) revealed its plans to grant a 10 per cent concession on port dues for bulk carriers with effect from 15 April 2016 as a countermeasure to the current downturn in the industry. This concession will be applicable if the vessels are carrying out cargo
SCT&E LNG on Tuesday informed it has signed a fourth non-binding MoU to sell 2 mtpa of liquefied natural gas to an Asian energy company, from its proposed facility on Monkey Island in Cameron Parish, Louisiana.
UK-based Wood Group has acquired SVT Engineering Consultants (SVT), a privately-owned vibration, dynamics and noise engineering service provider with headquarters in Perth. This acquisition marks a “significant step” for Wood Group in providing a global vibration, dynamics and noise (VDN) engineerin
The crane vessel Oleg Strashnov has installed the first monopile at the Dudgeon offshore wind farm, located off Norfolk, England. “Our team and suppliers have worked hard to prepare for the exciting installation phase and we are pleased to progress according to plan,” said Olav-Bernt Haga, project d
Shipping’s only legally binding climate measure is not stimulating the uptake of new technologies or driving efficiency improvements, according to a new independent study entitled Historical Trends in Ship Design Efficiency made for Clean Shipping Coalition (CSC) by CE Delft, a research and consulta
