A UK-flagged general cargo vessel Verity, which was left adrift off North Devon coast after its engine failed in inclement weather, has been towed to Swansea for repairs, according to the Royal National Lifeboat Institution (RNLI). The 300 foot cargo vessel, crewed by seven people, lost propulsion o
Exxon Mobil’s full year earnings for 2015 plunged to $16.2 billion compared with $32.5 billion a year earlier. Higher Downstream and Chemical earnings were offset by sharply lower commodity prices in the Upstream, the company said. “While our financial results reflect the challenging environment, we
Italian oilfield services provider Saipem has taken Gazprom to court over the cancelled Black Sea pipeline project. Saipem is seeking 759 million euros from South Stream Transport, a subsidiary of Gazprom. According to a document found on Saipem’s website, on November 10, 2015 Saipem S.p.A. served a
The danger of grounding of the ill-fated car carrier Modern Express has been avoided as the ship has been towed away from the French coast, French Maritime Authority said. Namely, based on the latest update, the ship is currently some 65 kilometers off the coast, towed west by Spanish tug Centaurus
The 2003-built tanker Leon Dias was hijacked by pirates in the Gulf of Guinea, UK-based Clearwater Vessel Tracking confirmed to World Maritime News. “A tanker was underway from Lome to Bata when the owners lost contact with their vessel, it was later discovered that pirates had managed to board and
A new shipping route has been launched between China and Iran following the sanctions lifting against Tehran. Namely, the arrival of the Iranian containership Perarin to Qinzhou Port on Wednesday marked the official kick off of the first shipping service to link Middle East and Beibu Gulf, Guangxi B
Production from Maersk Oil’s platforms at the Tyra gas field in the Danish sector of the North Sea has been closed. In a message to Offshore Energy Today on Tuesday, the Danish company’s spokesperson said Maersk Oil initiated shutdown procedure at the company’s two offshore platforms due to bad weat
The 15.6 mtpa Gorgon LNG project, operated by Chevron, is expected to ship its first cargo of chilled gas soon. Chevron’s CEO John Watson said last week that the San Ramon, California-based energy giant expects to be producing LNG from the giant project in Australia within the next few weeks. Chevro
Marine seismic player TGS has reported a net loss for the fourth quarter of 2015. The loss was $121 million, versus a net profit of $32 million a year ago. Consolidated net revenues were USD 132 million, compared to USD 298 million in Q4 2014. Seismic contractors have been hit dearly with the lack o
The first steel was cut this week at Damen Shipyards Galati for Bibby WaveMaster 1, the first ever Damen Service Operations Vessel (SOV) ordered by Bibby Marine Services. The two companies signed a contract for the vessel last month. The new SOV with walk-to-work capability will be deployed in the N
BP on Tuesday reported its worst annual loss in at least 20 years and thousands more job cuts as the British oil and gas company grappled with a collapse in oil prices.
Eagle LNG Partners said it has filed an application with the US Department of Energy requesting long-term, multi-contract authorization to exports liquefied natural gas. The application seeks authorization to export up to 49.8 Bcf (about 1 million tons per annum) of LNG per year to both free trade a
Lundin Petroleum, an oil and gas exploration and production company, has entered into a committed seven-year senior secured revolving credit facility of up to $5 billion, with an initial committed amount of $4.3 billion. Lundin said that this senior secured facility would provide the financial flexi
Anadarko, a U.S.-based oil and gas company, on Monday posted a net loss of $1.25 billion for the fourth quarter of 2015, affected by a $954 million impairment charge from producing properties and exploration assets. For comparison, in the fourth quarter of 2014, Anadarko posted a net loss of $395 mi
