ExxonMobil is reportedly planning to shut down production at the Jotun field offshore Norway by plugging 22 production wells, starting in April 2016. The Jotun field is located in the North Sea, 200 km west of Stavanger. Water depth at the site is 126 metres. The field was developed with two install
Having peaked, at a five-year high of 1.6 million barrels per day (mb/d) in 2015, global oil demand growth is forecast to ease back considerably in 2016, to 1.2 mb/d, pulled down by notable slowdowns in Europe, China and the United States, the newly released IEA Oil Market Report (OMR) for February
The low price of crude is creating complacency among ship owners in relation to decisions over fuel procurement strategies, and future sulphur regulations, said Adrian Tolson, Senior Partner at maritime consultancy 20|20 Marine Energy. Speaking at the UK Chamber of Shipping’s Fueling Operations conf
India and Australia on Monday formed a sub-group to prepare a roadmap that would look into ways in providing cheap LNG for power plants in the south Asian country. “India is willing to consider long-term fixed price contracts for the supply of gas which will enable power producer to enter into a pow
Pakistan will reportedly sign a long-term deal to import liquefied natural gas from Qatar this week. Under the 15-year deal, Qatar will supply 3.5 million tonnes per annum of LNG to Pakistan, Reuters reported on Monday. A report by Pakistan Today says that the country negotiated a “very attractive p
Aibel, Norwegian engineering and construction company, has been selected by Statoil as one of the companies to work on a C study for the second phase of the Johan Sverdrup field development in the Norwegian sector of the North Sea. According to the company, Aibel’s assignment is to consider a module
Mega containership CSCL Indian Ocean which has been stranded in the river Elbe for days has finally been freed by German maritime authorities. Namely, the salvage operation was launched at 2am today by a fleet of 12 tugs of the Central Command for Maritime Emergencies (CCME), which shortly after man
The construction of Green Port Hull in Yorkshire is underway and the site, which will accommodate Siemens’ wind turbine facilities, is now taking shape, the company reported on its social media pages. GRAHAM Lagan Construction Group Joint Venture (JV) has been preparing a 54-acre site at Hull’s Alex
Earnings for liquefied natural gas shipping will stay under pressure this year as accelerating fleet growth and changing trade patterns will weaken supply-demand conditions, shipping consultancy Drewry said in a report. LNG vessel fleet growth is forecast to double in 2016 to 12%, compared to 6% in
Following the delivery of Maersk Connector, Marine and Towage Services Group Ltd. (MTS) reported that it had supported Damen during sea trials of its latest offshore cabling vessel. During comprehensive sea trials of the vessel in early 2016, the multi-purpose tug MTS Vigilant undertook anchor handl
Volstad Shipping, a Norwegian shipping company, has received notice of termination of the charter party for MV Volstad Surveyor from DeepOcean, a subsea services provider. According to the charter party the contract period would expire September 30, 2016. In an Oslo Stock Exchange filing on Monday,
Wind energy added more new capacity than any other form of power in Europe in 2015, the European Wind Energy Association (EWEA) said. Across the 28 EU member states, wind accounted for 44% of all new power installations, connecting a total of 12.8GW to the grid – 9,766MW in onshore and 3,034MW offsh
Canada’s Pieridae Energy said Monday it has won an approval from the US Department of Energy to export LNG to countries without a free trade agreement from the proposed 10 mtpa Goldboro LNG project in Nova Scotia. The approval was received on February 5, and allows US sourced natural gas to be expor
Qatar Petroleum has reached an agreement with the U.S. oil juggernaut Chevron to buy a 30% participating interest from Chevron’s 75% share in three deep-water offshore leases in Morocco. Under the agreement Qatar Petroleum will acquire an interest in the deep-water leases, while Chevron will retain
