By Ahmad Ghaddar LONDON (Reuters) – Oil prices fell on Friday but are set for their first weekly increase this month as talk of a coordinated plan by producers to freeze output levels was tempered by a record build in U.S. crude inventories. Brent futures LCOc1 were down 45 cents at $33.83 a barrel
PACC Offshore Services (POSH), a Singapore-based provider of offshore support vessels, has posted 29% growth in revenues in 4Q 2015 when compared to 4Q 2014, primarily due to growth in the offshore accommodation business. PACC Offshore Services’ revenues for 4Q 2015 amounted to $71.8 million, up 29%
Cheniere Energy said it has started producing LNG from the first liquefaction train at its Sabine Pass LNG export terminal in Louisiana. “Train 1 has begun producing LNG, and the first LNG commissioning cargo is expected to be exported late February or March,” Cheniere said in its fourth-quarter res
A Filipino citizen and the captain of the Liberia-flagged tanker T/V Green Sky, Genaro Anciano, 52, pleaded guilty Thursday to one felony count in federal court in Charleston, South Carolina, for obstructing a U.S. Coast Guard investigation into pollution crimes aboard the vessel. The charge stems f
The Civil Engineering Contractors Association (CECA) today said that unless the Government adopts a sea-change in its approach to the renewables sector, the industry will “fall off a cliff”, costing jobs and growth, particularly in Scotland. In its response to the Scottish Affairs Committee’s inquir
Houston-based LNG player Cheniere said that its former CEO Charif Souki has resigned from the company’s board. Souki notified Cheniere’s board on February 12 that he was resigning as a member of the board, effective immediately, Cheniere said in a filing with the U.S. SEC. Cheniere in December repla
Based on weather forecasts and water consumption estimates for the upcoming months, the Panama Canal is anticipating the possibility that some time during April 2016 draft restrictions may be imposed to transiting vessels. As informed by the GAC, despite numerous water conservation measures implemen
During a seminar held last night, organised by KIVI and hosted by SBM offshore, details of SBM Offshore’s work in wave energy was presented to a group of offshore professionals. As presenter Ambroise Wattez, business development manager Renewables & Offshore Energy Systems at SBM Offshore deduced, m
The bulk shipping sector cannot catch a break especially since 2016 is expected to be another challenging year for the coal sector in China, Fitch Ratings says. China is a key player in global trade, accounting for 20% of world coal imports, with iron ore and coal representing well over half of the
British wholesale gas prices fell on Friday as strong supply from storage sites and liquefied natural gas (LNG) terminals, and softer demand for power generation and house heating, led to an oversupplied system.
DOF Subsea, a Norwegian provider of offshore support vessels, posted a slightly lower profit for the fourth quarter of 2015 when compared to the one made in the same period the year before. The provider of offshore vessels on Friday reported a profit after tax for the fourth quarter of 2015 of NOK 5
France’s Gaztransport & Technigaz (GTT), maker of LNG containment systems, posted a revenue of 226.5 million euros, down 0.13 percent as compared to the year before.
More than 100 people have expressed their gratitude to the New York City’s Mayor Bill de Blasio for his plan to power 100% of City government operations with renewable energy, and urged him to include offshore wind as a cornerstone of that plan. New Yorkers gathered on 18 February in front of the Ci
The U.S. Bureau of Ocean Energy Management (BOEM) Director Abigail Ross Hopper announced on Thursday that the bureau will offer approximately 45 million acres for oil and gas exploration and development in the Gulf of Mexico in two March lease sales. “These lease sales continue the President’s commi
