Norges Bank Investment Management, a part of Norway’s central bank Norges Bank, responsible for the management of the country’s $825 billion sovereign wealth fund, will vote for the proposed Shell-BG Group merger. The world’s largest sovereign wealth fund, owning shares in both energy companies, on
A fire broke out yesterday in cargo holds of bulk carrier identified as Marshal Islands-flagged Star Maria while the ship was docked in Italian port of Maghera, Venice. The local firefighters were dispatched to the scene at 18:50 local time to contain the fire which is believed to have started due t
Gardline’s new vessel MV Bittern will be undergoing sea trials in Great Yarmouth this week prior to her launch. Once the sea trials are complete, the 23m vessel will be launched and delivered to Ramsgate and begin operational trials at the London Array offshore wind farm before heading back to Great
Hague-based energy giant Shell said Wednesday it expects a reduction of 10,000 staff after completion of the proposed merger with LNG player BG. Synergies from the BG combination “will include a reduction of some 10,000 staff and direct contractor positions in 2015-16 across both companies, as strea
UK-based BG Group said on Wednesday it delivered 282 cargoes of liquefied natural gas last year, a rise of 58 percent as compared to 178 cargoes delivered in 2014. In total, BG shipped 17.9 million tonnes of LNG to its customers in 2015, as compared to 11 million tonnes of chilled gas the company de
The Sakhalin II liquefied natural gas project exceeded its design production capacity of 10.8 million tons per year by 1.2 million tons in 2015, Gazprom and Shell executives noted at a meeting in St. Petersburg.
Anglo/Dutch oil giant Shell has, a week ahead of the shareholders’ meeting in The Hague, where the faith of the proposed Shell’s BG acquisition will be decided, issued a trading and operations update for the fourth quarter of 2015. Shell’s boss Ben van Beurden said he was pleased with 2015 cost cutt
Det norske, an oil exploration and development company, has been awarded ten new exploration licences offshore Norway, including six operatorship, in the APA (Awards in Pre-defined Areas) 2015. The Norwegian Ministry of Petroleum and Energy on Tuesday awarded 56 exploration licences offshore Norway
Subsea 7’s pipelay vessel ‘Seven Waves’ is returning to the yard in the Netherlands for repairs after a fire on its lay assembly. Subsea 7 spokesperson confirmed to Subsea World News that the incident occurred during work in Brazil, and that “the vessel is returning to Europe for repairs, as they ca
In the Awards in Predefined Areas (APA) round 2015, Statoil has been awarded interest in 24 licences on the Norwegian continental shelf (NCS), 13 of those as operator and 11 as partner. According to Statoil, this is the highest number of licences awarded to the company since 2005. The Norwegian Mini
Japan’s Mitsubishi Corporation on Wednesday informed it has acquired the remaining stake in Cima Energy, a Houston-based oil and gas marketer through MC Global Gas Corporation.
British oil and gas company BG Group expects to post full year E&P production volumes at an average of 704 thousand barrels of oil equivalent per day in 2015, around 16% higher than 2014. In its operational update on Wednesday, the company said the growth in production, ahead of guidance of 680-700
Germany’s largest internationally active oil and gas producer Wintershall has been awarded interest in seven production licenses on the Norwegian Continental Shelf by the Norwegian Ministry of Petroleum and Energy. Wintershall will be the operator on four of these. As part of the latest licensing ro
The GAC Group informed on Wednesday it has formed a dedicated LNG services team to meet growing global demand for a wide range of specialised support services for gas carrier operations.
