Moody’s Investors Service has reduced its price estimates for Brent crude and West Texas Intermediate crude amid continued oversupply in the oil markets and the risk of additional supply from Iran. Moody’s has lowered its price estimate in 2016 for both Brent crude oil, the international benchmark,
By Amanda Cooper LONDON (Reuters) – Oil rose by more than 6 percent on Friday, as a cold snap boosted demand for heating oil across the United States and Europe, but was still mired near its lowest since 2003 and set for its largest drop in January in at least 25 years. Crude futures were […]
The European Commission has required the Netherlands to abolish an exemption from corporate tax for its six seaports so as to align the regime with EU state aid rules. The Commission has also proposed in two separate decisions that Belgium and France align their taxation of ports with state aid rule
Port of Charleston, a part of South Carolina Ports Authority (SCPA) and the fourth busiest container port in the US, handled a total of 1.97 million containers in 2015, a 10 percent growth compared to the previous year. In December alone, the SCPA handled 144,718 twenty-foot equivalent units (TEUs),
By Dmitry Zhdannikov DAVOS, Switzerland (Reuters) – Facing one of its worst crises in a generation, the oil industry is trying to open up – to women. Even when oil was selling at above $100 a barrel, most of the industry’s top executives said they struggled to find and retain young talent. Year afte
BW Offshore and Ithaca Energy have agreed to terminate the contract for FPSO BW Athena, which will be demobilised in February 2016. The FPSO was deployed in the Athena field, located in the Moray Firth area of the UK Continental Shelf. BW Athena first operated under a three-year contract, and the op
Inpex-operated Ichthys LNG project informed that all 26 modules on the onshore plant’s inlet facility have ben erected.
LNG imports into China reached 19.63 million tonnes in 2015, down 1 percent year on year, according to the General Administration of Customs data. China, the world’s largest energy consumer, imported 2.1 million tonnes of liquefied natural gas in December, an increase of 4.6 percent, the data showed
Irish explorer Providence Resources P.l.c. is looking to benefit from a new multi-client 3D seismic programe, planned to be acquired by Searcher Seismic Pty Ltd in summer 2016. The total seismic acquisition programme is planned to cover a large area in the southern Porcupine & Goban Spur Basins, off
The shareholders of Royal Dutch Shell will vote in favour of the proposed Shell-BG combination, a poll conducted last week by LNG World News reveals.
Australian LNG operator Santos on Friday said it plans to cut more costs in an attempt to plug debt holes and preserve cash as global oil and gas prices continue to fall world-wide. Santos has already in November last year initiated a A$3.5 billion cash raising to plug the debt holes caused by low o
The Northwest Seaport Alliance, a partnership of the ports of Seattle and Tacoma, handled more than 3.5 million 20-foot equivalent units (TEUs) in 2015, an increase of 4 percent compared to container volumes handled in 2014. Container volumes grew despite the slowing Chinese economy and volume decli
Schlumberger, world’s largest oilfield services provider slashed 10.000 jobs in the fourth quarter of 2015. The company said that the reason was an expected extended activity weakness in the first half of 2016. This led the company to recognize in the fourth quarter $530 million in pretax restructur
Norwegian FPSO supplier BW Offshore and oil company Ithaca Energy have agreed on a termination of the FPSO BW Athena, and the unit will be demobilised in February 2016. The FPSO is moored at the Athena field, located in the Moray Firth area of the UK Continental Shelf. According to BW Offshore the F
