UK’s Oil & Gas Authority has greeted the 2016 Budget, announced on Wednesday by the Chancellor of the Exchequer, George Osborne, by saying the measures announced represent a timely support for the sector. The 2016 Budget, which revealed that the oil and gas industry will be aided by tax cuts worth £
Yamal LNG has signed deals for the 96 percent of LNG volumes it plans to produce at its 16.5 mtpa facility, according to the project’s head Evgeny Kot.
The Dover Strait Ports Company has awarded the design-build contract for the French Port of Calais extension project to a consortium formed around Bouygues Travaux Publics (the lead company), Colas Nord-Picardie, Spie Batignolles and Jan De Nul. The contract, which forms part of the Calais Port 2015
After it developed a heavy list, the general cargo vessel Shen Zhou 33 sank in the Taiwan Strait, according to a report from China Maritime Safety Administration. According to initial reports, the vessel, which capsized in the afternoon of March 14, started listing due to a shift of the cargo it was
Japan’s Inpex will delay the development of its multi-billion Abadi LNG project in Indonesia by at least two years, the Indonesian energy regulator SKK Migas said on Wednesday. According to Amien Sunaryadi, Chairman of SKK Migas, Inpex notified the regulator that it plans to downsize its workforce i
New York-based LS Energy joined forces with a former GDF Suez Energy North America CEO Zin Smati to launch Life Energy, a new energy company.
Brazil’s state-run oil company Petrobras is reportedly planning to cut 12,000 jobs through a voluntary layoff program in order to reduce costs. According to O Estado de S.Paulo, daily newspaper from Brazil, that quoted sources close to the matter, Petrobras will reduce its workforce by 12,000 jobs a
The fourth edition of Navingo’s Offshore Energy Stakeholders Meeting took place on the 8th of March 2016. During this Offshore Energy Industry Outlook 2016 leading industry representatives spoke about the recent developments in the oil and gas industry, with a focus on the declining oil prices and i
ExxonMobil is reportedly still mulling the possibility of building a liquefied natural gas plant in Russia.
Norway’s Statoil on Wednesday experienced problems with a well on the Visund field offshore Norway prompting the company to shut the production down. Visund is an oil and gas field in blocks 34/8 and 34/7, 22 kilometres north-east of the Gullfaks field in the Tampen area of the Norwegian North Sea.
Japan’s utilities, buyers of liquefied natural gas are seeking diversified LNG price indexation to alleviate the risk energy deregulation’s effect brings to downstream demand and pricing.
EU delegations across Sub-Saharan Africa should play a key role by stepping into the era of true economic diplomacy, Simon Bergulf, Director EU Affairs at Danish Shipowners’ Association pointed out. With the new approach, EU companies would improve business operations in Africa, especially seeing th
Norwegian Ministry of Petroleum and Energy on Thursday, March 17, 2016, announced this year’s licensing round, the APA 2016, comprising the predefined areas with blocks in the North Sea, the Norwegian Sea and the Barents Sea. According to the ministry, in the APA 2016 round, the predefined area has
The oil spill in the Los Angeles harbor from the 577-foot cargo ship Istra Ace has been contained and the majority of the oil removed with a helicopter flight completed by the Los Angeles Port Police, Wednesday, determining no visible sheen outside or inside the boom area, the United States Coast Gu
