French ocean carrier CMA CGM and Panalpina, the world’s fourth biggest ocean freight forwarder by transport volumes, have signed a sustainability agreement aimed at reducing their respective carbon emissions by 2025.As of 2020, newbuild LNG-powered mega-vessels with a capacity of 22…
If seagoing vessels were better informed about the availability of berths and adapted their speed accordingly, substantial savings could be made in terms of fuel and CO2 emissions. This conclusion is based on a study that was recently commissioned…
North Africa-focused oil company SDX Energy has terminated talks for a potential acquisition of assets in Egypt from the oil giant BP.A press release from SDX announced that further to the announcement made on September 20, 2018, discussions…
One of the leading wind turbine manufacturers globally Goldwind and DNV GL, the world’s largest resource of independent energy experts and certification body have signed a Memorandum of Understanding (MoU) to cooperate on the development of…
Peru has suspended exports of natural gas and will impose fuel rationing due to technical issues at Argentine energy company Pluspetrol's operations in the country, it said on Thursday.Peru, one of South America's largest producers of natural gas…
Following years in the pricing doldrums, LNG is hot again, with business prospects for floating production and regasification looking strong through 2023. We talk to Jim McCaul of International Maritime Associates (IMA) for his insights, as…
Royal Dutch Shell plans to invest $1 billion to $2 billion annually in oil exploration and production in Brazil through 2025, Brazilian newspaper Valor Economico reported on Thursday.The investment will be made regardless of the outcome of presidential election Oct…
When talk turns to the digital revolution sweeping through the maritime industry, one need look no further than Wärtsilä, which has evolved from a shipbuilding company to an engine manufacturer, and is now embarked on a historic digital transformation led by Marco Ryan…
Liquefied natural gas (LNG) tanker Hoegh Gallant has left its mooring in Egypt, where it had been used as a floating import terminal since 2015, and set course for the U.S. Sabine Pass production facility, according to Refinitiv Eikon data.Hoegh…
Rising U.S. crude oil exports to Europe and Asia have had a knock-on effect in the futures market, turning the U.S. West Texas Intermediate contract into a near-24 hour benchmark, exchange operator CME Group said. Owain Johnson, managing director for energy research and development at CME…
Russia's Rosneft, which owns downstream assets in Germany including stakes in a number of oil refineries, plans to invest around 600 million euros ($690 million) in the German downstream market, Russian government documents showed on Thursday…
Oil fell more than $1 a barrel to below $79 on Thursday as the fourth weekly increase in U.S. crude inventories suggested ample supply, while Saudi-U.S. tension and falling Iranian exports lent support.U.S. crude inventories rose 6.5 million barrels last week…
Norwegian Energy Company (Noreco) plans to acquire offshore assets on Britain's continental shelf in 2019, following its purchase of Shell's upstream oil and gas licenses in Denmark, its chairman told Reuters on Thursday.The Oslo-listed company on Wednesday announced a $1…
Iraqi Oil Minister Jabar al-Luaibi issued a decree transferring the ownership of nine state-owned oil companies from the oil ministry to the newly-formed National Oil Company which he also heads, a ministry spokesman said on Thursday.Luaibi…
Gazprom's output in the last nine and a half months is up by 6.8 percent year on year and the Russian gas producer expects production close to 500 billion cubic metres (bcm) this year, RIA news agency cited its chief executive as saying.The TASS news agency…
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