In spite of low gas prices due to ample LNG supply growth and muted demand so far in 2019 spot shipping rates have gradually increased over the last few months and are currently about USD 70,000 per day on average, said Awilco LNG Group.According to Norwegian LNG transportation provider…
China's national offshore producer CNOOC Ltd reported a near 19% rise in first-half profit on Thursday, as higher sales of oil and gas offset weaker global oil prices.The listed arm of state-owned China National Offshore Oil Corp said that it…
British oil major BP Alaska announced that it is selling its entire business to Hilcorp Alaska, marking the exit from Alaska after six decades.The $5.6 billion sale includes Opens a New Window. interests in the Prudhoe Bay oil field, Point Thomson gas field and the trans-Alaska pipeline system…
Petrofac Ltd on Wednesday reported a fall in first-half order intake and forecast lower 2020 revenue, citing uncertainty relating to an investigation into the oilfield services company's dealings in Saudi Arabia and Iraq.Petrofac, which designs…
Maria Moraeus Hanssen, COO and Deputy CEO of Wintershall Dea, will leave the company at year end to pursue other opportunities, the independent oil and gas company announced on Wednesday.Until on December 31, 2019, Hanssen will continue in her…
Germany's Siemens AG said that it has won a deal to supply two converter stations for the first high-voltage direct current (HVDC) link between the UK and Denmark.Viking Link will enable the exchange of up to 1400MW of electricity to provide…
The Nord Stream 2, export gas pipeline running from Russia to Europe across the Baltic Sea, is 75% complete, the project's operator, Nord Stream 2 AG, said in a statement.A total of 1,855 kilometers of the Nord Stream 2 pipeline were built along the bottom of the Baltic Sea in the waters of Russia…
The LNG Marine Fuel Institute, a non for profit organization based in Perth, announced the membership of ADNOC Logistics & Services with the growing coalition of companies committed to Australian LNG is the primary marine fuel in transition to carbon free shipping…
Houston-based Stabilis Energy has joined SEA\LNG, the multi-sector industry coalition which is seeking to accelerate the widespread adoption of liquefied natural gas (LNG) as a marine fuel.Commenting on the development, Peter Keller, Chairman…
Hoegh LNG on its first ever sale and leaseback deal with China Construction Bank Financial Leasing (CCBFL) for its tenth Floating Storage Regasification Unit (FSRU), the Hoegh Galleon, which was delivered yesterday (August 27) and has been taken back on charter by Hoegh LNG for twelve years…
Knutsen NYK Offshore Tankers AS (KNOT), a NYK Group company, has concluded a time-charter contract for a maximum 15-year period starting from 2021 for a shuttle tanker with French oil and gas giant Total for its Brazilian activities.The contract aims to use a 152…
So far in 2019, 41 VLCCs have been added to the global fleet compared to three vessel demolitions, said the world's largest oil tanker shipping company Frontline Ltd.An additional 33 VLCCs are scheduled to be delivered in 2019 with 43 more to follow in 2020 before the order-book declines sharply…
British oil major BP Plc on Tuesday agreed to sell all its Alaskan properties for $5.6 billion to privately held Hilcorp Energy Co, exiting a region where it operated for 60 years.The deal, which includes interests in the most prolific oil field in U…
The highest US crude oil exports to China in 11 months lifted total seaborne US crude oil exports to a record high at 11.9 million (m) tonnes in June 2019. Also contributing to the June record was South Korea, as exports to the other main Far Eastern buyer reached an all-time high volume of 2…
High voltage engineering specialist EDS HV Group (EDS), part of the UK’s leading marine services company – James Fisher and Sons plc, has carried out an innovative cable testing campaign for Vattenfall at Horns Rev 1 after the windfarm had experienced network issues…
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