Saudi Arabia’s Crown Prince Mohammed bin Salman on Saturday said that the Kingdom of Saudi Arabia is ready to support the extension of an oil production cut agreement reached last year between OPEC and some Non-Opec nations in order to balance global crude oil supply and demand. “The Kingdom affirms
In light of the current security climate, the Immigration & Checkpoints Authority of Singapore (ICA) has reviewed its process on the clearance of crew and passengers at Singapore ports. With effect from November 1, 2017, all passengers and seafaring crew disembarking/embarking commercial vessels ber
Searcher Seismic, an independent seismic data acquisition company, has announced a regional multi-client airborne gravity, gravity-gradiometry, and magnetics survey over Gulf of Papua near-shore areas. Searcher Seismic said on Monday that the survey, named Roho, covers approximately 60,700 square ki
U.S. oil firm ExxonMobil will acquire half of Statoil’s interest in the BM-S-8 block offshore Brazil, which contains part of the pre-salt Carcara oil field, for a total potential consideration of around $1.3 billion. The Carcara field contains an estimated recoverable resource of 2 billion barrels o
The council of the International Gas Union (IGU) named Li Yalan as president of the union from 2021-2024, with Beijing set to host the 2024 World gas conference.
Dutch provider of offshore heavy lift and accommodation solutions Holding OOS International Group B.V. has signed a cooperation agreement with GSP Offshore B.V. (GSP) to pursue international offshore projects, mainly in the Russian region. OOS International said last week that the cooperation agreem
Project and financing models for decommissioning are moving up oil and gas operators’ agenda worldwide as ‘lower for longer’ oil prices raise questions about how long aging assets can operate viably beyond their design lives. The UK Continental Shelf (UKCS) is set for a wave of large, expensive proj
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Engie confirms review of upstream, midstream LNG business French energy giant and LNG player Engie confirmed it has started negotiation with interested counterparties to sell its upstream and midstream LNG activities. Novatek to order 15 Arctic LNG carriers at Zvezda shipyard Russia’s largest indepe
French gas and oil giant Total reported an adjusted net income of $2.7 billion during the third quarter, jumping 29 percent compared to the same period last year.
A study conducted by a group of German companies shows that Wilhelmshaven is the ideal location for an LNG import terminal.
Despite somewhat increased activity in terms of new orders in the product tanker sector in the first nine months of 2017, the orderbook remains at historically low levels, as disclosed by Capital Product Partners L.P. in a market commentary. The MR product tanker orderbook currently stands at 7.2% o
Qatar has announced a labor reform which seeks to terminate the so-called “kafala system”, a form of indentured labor that in practice has resulted in preventing migrant workers from leaving the country by their employers. The step is being taken following the pressure from the International Trade U
US LNG engineer, Chart Industries reported a drop in net income of $1.5 million for the third quarter of 2017.
