Offshore driller Seadrill has closed a deal with oilfield services firm Archer to extinguish $253 million in financial guarantees provided by Seadrill. The scrapping of the guarantees comes in exchange for a cash payment of approximately $25 million. Seadrill said on Wednesday it remained in “constr
The Baltic Exchange said on Wednesday it aims to move into the LNG and container spaces as part of plans to boost its role in the maritime industry. The Baltic Exchange, along with its parent company the Singapore Exchange, plans to develop a freight LNG index to support its spot LNG pricing and Sin
Novatek of Russia on Wednesday reported a 38.7 percent drop in profit for the first quarter of 2017 due to the foreign exchange effect and the effect of the disposals of interests in joint ventures.
Malaysian energy giant Petronas said that recent media reports saying the company is looking to sell a US$1 billion stake in the SK316 offshore gas block have been misleading.
Uniper’s unit Liqvis and the food industry service provider Meyer Logistik opened the first publicly accessible fueling station for liquefied natural gas in Berlin.
The Mugardos LNG import terminal located in Galicia region and operated by Spain’s Reganosa has received its largest liquefied natural gas vessel up to date. The 216,203-cbm Q-Flex carrier Al Utoriya arrived on Tuesday at the Mugardos facility in the Ferrol port carrying a cargo from the world’s lar
VBMS’ cable laying vessel Ndurance will arrive off the coast of Sizewell on 30 April, weather permitting, to install the second and final export cable for the 336MW Galloper offshore wind farm, Galloper Wind Farm Limited said.
Following media reports that Petronas is selling part of its stake in the SK316 offshore gas block in Malaysia’s Sarawak state, the Malaysian state-owned giant has denied the sale talks and deemed the reports as “misleading and misinformed.” Reuters recently reported that the company was considering
Chemical/product tanker Golden Dynasty has been detained in Singapore waters, Supreme Court of Singapore’s data shows. The 14,500 dwt ship, owned by China’s Shanghai Dingheng Shipping, was arrested in the morning hours of April 23, 2017. The reason of the ship’s detention was not disclosed. Focal In
Given the mounting pressure on freight rates and continuing fleet growth over the next two years, excess LNG tanker supply will reduce only gradually with the recovery in rates pushed back to the latter part of next year, according to the shipping consultancy, Drewry. The consultancy maintains a bea
C-bed’s flotel Wind Solution has arrived to Sussex to provide offshore accommodation for the crews currently working on the 400MW Rampion offshore wind farm.
Finnish engine manufacturer Wärtsilä order intake during the first three months of 2017 grew 11 percent to €1.41 billion (US$1.55 billion) from €1.27 billion in the corresponding period in 2016.
The undiscovered oil and gas resources in the Barents Sea are twice as large as previously assumed, according to new calculations by the Norwegian Petroleum Directorate (NPD), Norway’s petroleum resources regulator. The Norwegian Petroleum Directorate has recently mapped the eastern part of the nort
Solstad Offshore, a Norwegian offshore service and supply vessel provider, has sold one of its platform supply vessels (PSVs). Solstad said in a statement on Wednesday that the vessel in question was the Normand Vester. The delivery of the vessel took place on the day of the announcement, April 26.
