After several reports earlier on Wednesday claimed that the British independent oil company Premier Oil was in talks to acquire a rival company, with Premier Oil’s shares suspended pending an announcement, the announcement is finally here. What Reuters hinted earlier today, citing sources close to t
The average Brent crude oil price for 2016 is expected to be around $40 per barrel, U.S. Energy Information Administration has forecasted in its Short-Term Energy Outlook launched on January 12. Also, this edition of the Short-Term Energy Outlook is the first to include forecasts for 2017, and accor
WoodMac’s review of the LNG industry reveals that the 2015 market was characterised by weaker Asian demand which dropped 2 percent forcing LNG players to shift focus to developing markets and employing new regasification capacity.
Brazil’s state-run oil company Petrobras has slashed its spending plans for the 2015 – 2019 period by 25%. In its announcement on Tuesday, the company said its board of directors had approved „certain adjustments to the 2015-2019 Business and Management Plan (2015-2019 BMP).“ These ‘certain adjustme
LONDON (Reuters) – UK-listed mid-sized oil producer Premier Oil <PMO.L> is buying German utility E.ON’s <EONGn.DE> oil and gas assets in the UK part of the North Sea, three banking and industry sources told Reuters on Wednesday. The sources did not disclose the exact size of the transaction but said
Five crewmembers aboard Alcoa ship the MV Portland were woken at 1am this morning by up to 30 security guards, handed their passports and forcibly removed from the vessel, the Maritime Union of Australia (MUA) informed. According to MUA, the MV Portland is en route to Singapore, being sailed by a fo
Two UK Coastguard helicopters, a lifeboat and two other vessels are assisting the crew of a ship which is on fire off Cromer, the UK, the Maritime and Coastguard Agency (MCA) reports. One coastguard helicopter is taking six fire and rescue crew and their equipment out to the vessel. The seven crew o
Tullow Oil, the operator of the TEN project, offshore Ghana, has informed that the project is 80% complete and continues to make “excellent progress”. In a trading statement on Wednesday, the company said the project, aimed at developing Tweneboa, Enyenra and Ntomme (TEN) discoveries, remains within
Japan’s price of spot liquefied natural gas contracted in December averaged $7.4 per mmBtu on DES basis, same as in November. According to the monthly spot LNG data by Japan’s Ministry of Economy, Trade and Industry (METI), the average price of spot-LNG imported into Japan that arrived in December s
Ophir Energy, operator of the Fortuna FLNG project offshore Equatorial Guinea, said on Wednesday it named two regional directors. The UK-listed oil and gas group appointed John Bell to the position of Director – Asia and Oliver Quinn to the position of Director – Africa and Global New Ventures. “Bot
Oil and gas company Ophir Energy plc has announced that it has appointed two new regional directors, namely, Dr John Bell to the position of Director – Asia and Dr Oliver Quinn to the position of Director – Africa and Global New Ventures. The company said that the new directors will start their new
Singapore’s Ezion Holdings will market two service rigs being built by a Chinese state-owned enterprise. The rigs are being built to support both offshore windfarm, and oil and gas activities. According to Ezion, the company will also provide the technical expertise for the operations and deployment
British oil major BP has made plans to slash 20 percent of its North Sea workforce by the end of 2017 bringing 600 jobs at risk. According to STV News, this move is part of a plan by BP to axe 4000 jobs globally as a result of an oil downturn. Worth noting, BP has nearly 4000 people […]
CG, an Avantha Group company, has been awarded a contract from Denmark’s electricity transmission system operator Energinet.dk to provide power transformers and Gas Insulated Switchgear (GIS) for the Kriegers Flak wind farm project in the Baltic Sea. The order consists of two onshore 500 MVA 410/235
