Russia’s maritime shipping company Sovcomflot has announced that it has entered into a new USD 264 million six-year revolving credit facility with a consortium of five leading international banks.The completion of this credit facility marks the successful finalisation of SCF’s 2018 financing plan…
Norwegian subsea contractor Ocean Installer and Norwegian multinational energy company Equinor ASA have signed a contract that covers the floating production storage and offloading unit (FPSO) mooring installation, tow out and hook-up of the Johan Castberg FPSO in the Barents Sea…
Finland oil refining and marketing company Neste Corporation and Swedish bunker and marine fuels provider ScanOcean AB enter into cooperation in delivering Neste’s low-sulfur marine fuel. ScanOcean AB is now an official reseller for Neste’s 0…
Oil prices tumbled on Tuesday after reports of swelling inventories and forecasts that record U.S. and Russian output will hit a market that may see weaker demand if global growth deteriorates as many expect.U.S. crude oil fell $2.78, or 5.5 percent to trade at $47…
A leniency deal between Brazilian prosecutors and Dutch-based SBM Offshore has been approved by a judge, opening the way for the marine engineering group to bid for new contracts in its largest market.As a result of its role in a major corruption scandal involving state-owned oil company Petrobras…
Dutch energy company Eneco will be privatised via an auction next year, the company and its shareholders said on Tuesday.The decision marks the end of a heated battle between the 53 municipalities that own Eneco and the company's board.The shareholders…
Lithuania has given the go ahead to state-owned Klaipedos Nafta to purchase a liquefied natural gas (LNG) storage vessel by late 2024, as it shores up energy supplies and reduces its reliance on Russian natural gas.Klaipedos Nafta is currently…
Angola's Soyo liquefied natural gas (LNG) plant has resumed production after a 'controlled' shutdown, a spokeswoman for Angola LNG said on Tuesday.She did not specify why the shutdown had occurred and declined to say when the plant would load its first cargo after reopening…
Norwegian oil firm DNO has bought another 914,732 shares in Faroe Petroleum at 151.6 pence each, it said on Tuesday.The purchase, at just below the 152 pence per share price it has offered in a takeover bid for Faroe, adds slightly to DNO's stake…
Canadian oil and gas producer Husky Energy Inc said on Tuesday it has received regulatory approvals to buy rival MEG Energy Corp, but MEG has yet to agree on the deal.In October, Husky made an unsolicited formal offer to buy MEG Energy in a deal valued at C$6…
Italian energy giant Eni announced that Indonesia has approved its investment plan for the Merakes project, located in the Kutei Basin, offshore East Kalimantan.Eni will now start work on developing the project, which will involve drilling and constructing subsea wells in water depths of 1…
Offshore engineering and construction specialist Subsea 7 has won an EPCI contract from Royal Dutch Shell for the Shearwater Fulmar Gas Line (FGL) Re-Plumb project, located approximately 140 miles east of Aberdeen in the UK central North Sea…
German energy group Uniper and Japanese shipping group Mitsui OSK Lines (MOL) have agreed to intensify efforts on the Wilhelmshaven FSRU (Floating Storage and Regasification Unit) project in Germany, which could start up as early as H2 2022…
The global engineering company based in Oslo Aker Solutions announced that it will provide engineering services for BP’s Clair South project in the UK North Sea.The pre-FEED (Front End Engineering and Design) contract, which was awarded in September…
The International Bunker Industry Association (IBIA) has welcome a decision by the International Maritime Organization (IMO)'s Maritime Safety Committee (MSC) to add a new item to its agenda to address concerns about fuel safety, separating…
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