LOC Group has appointed Dr R V Ahilan as the Director of the Group’s Renewables Advisory & Energy Technology unit. Ahilan joins LOC from DNV GL, where he was executive vice president of the Renewables Advisory Division. LOC said the new appointment will drive its ambitions to increase its scope in t
LOC Group has appointed Dr R V Ahilan as the Director of the Group’s Renewables Advisory & Energy Technology unit. Ahilan joins LOC from DNV GL, where he was executive vice president of the Renewables Advisory Division. LOC said the new appointment will drive its ambitions to increase its scope in t
National Grid said it will permanently close UK’s Avonmouth liquefied natural gas storage facility on April 30. According to a statement by National Grid issued last week, the Avonmouth facility, which is over 40 years old and characterised by “assets approaching the end of their technical life” has
Höegh LNG Partners, the spin-off of Norway’s Höegh LNG, reported on Monday a net income of $16.5 million in the fourth quarter of 2015, up from $7.5 million for the same period a year ago. The net income for both periods was impacted by the “unrealized gains (losses) on derivative instruments” mainl
Australia’s Beach Energy said it has completed the merger with Drillsearch, and the latter is now a wholly owned subsidiary of Beach.
Norwegian shipping company Havila Shipping informed on Monday it has received an early contract termination for one of its vessels from the Brazil’s state-owned oil company, Petrobras. According to Havila Shipping, Petrobras has terminated the contract for the multi-purpose offshore vessel Havila Fa
Offshore shipbuilder and designer VARD is looking to diversify its business in order to reduce its offshore market dependency during industry downturn that dragged the company’s 4Q 2015 results down. With its core market for offshore oil and gas related vessels showing continued signs of weakness in
Tidal Energy Ltd is looking for contractors for the procurement, manufacture and assembly of a DeltaStream tidal energy turbine, with tenders expected to be issued in October 2016. The design of the device and the intellectual property for the turbine will be provided by Tidal Energy Ltd. Manufactur
Tidal Transit’s WaveCraft Surface Effect Ship (SES) Umoe Firmus was handed over to Statkraft today in Wells-next-the-Sea. Statkraft, which is in charge of the Sheringham Shoal offshore wind farm, chartered the vessel, built at the Umoe Mandal shipyard, to support its O&M operations at the wind farm.
Malaysian energy giant Petronas has posted a loss in the fourth quarter of 2015 and said it is planning to further cut its spending in the next few years, all due to prevailing low oil prices.
Danish energy company Dong Energy is reportedly reducing its oil and gas business’ headcount. According to Reuters, the energy company is planning to cut around 280 jobs from the oil unit, that employs 700 workers, until the end of March. The company’s oil & gas activities are focused in the waters
Delivering a secure and diverse low-carbon energy supply is among the key areas that the UK’s business group CBI has defined as the ones that the UK National Infrastructure Commission (NIC) should set as priority. CBI said that the Commission cannot afford to be way-laid by politics, but instead mus
Drop in freight rates in 2015 for all classes of bulkers have forced owners to resort to demolition of older tonnage and layup as excess supply overwhelmed anaemic demand growth, particularly in the fourth quarter. This year doesn’t seem that promising either, as freight rates in January and Februar
Saudi Arabia and Russia agreed to freeze production at January levels on February 16 in the first coordinated effort to stabilise prices for 15 years. Expectations of an output cut were rife in the days leading up to the meeting in Doha, with Brent gaining 10.9% on February 12th, Douglas-Westwood, a
