Tuesday, March 31, 2020

East Africa News

Tullow to Axe a Third of Its Workforce

(Photo: Tullow Oil)

Tullow Oil plans to cut a third of its staff to slash its administration costs by a fifth, or around $20 million, a source with direct knowledge of the matter said, after weak output in Ghana, delays in East Africa and lower-than-hoped-for oil quality in Guyana.The move would shrink Tullow, which industry…

Global Wind Capacity to Reach 626 GW

Image courtesy: Ørsted

The global wind power industry is expected to install more than 626,800 MW of new capacity over the next decade, said a report.According to a report from Navigant Research, this new capacity represents a market worth more than $92 billion in 2019 and more than $1 trillion over the forecast decade.According to the report…

Bachmann, Stjernfeldt Join EVPE Board

Bettina Bachmann and Carl Stjernfeldt (Photos: EVPE)

EV Private Equity (EVPE) has appointed two new Advisory Board members, Bettina Bachmann and Carl Stjernfeldt, who bring decades of experience and venture capital knowledge to the firm.Bachmann spent 35 years at Shell, latterly as Vice President of Subsurface & Wells Software and now sits on several boards in nonexecutive roles…

Small Scale FSRU: Think Smarter Not Bigger

© dmplot/Shutterstock

The global search for lower carbon forms of energy and demand for cost-effective ways to serve power demand in emerging markets and remote locations is driving interest in floating storage and regasification units (FSRU).FSRUs are a faster and more flexible way to import natural gas to power-constrained places…

Epic Gas Bullish on LPG Carriers Market

Pic: Epic Gas

Global seaborne liquefied petroleum gas (LPG) volume is expected to grow by over 6% in 2019 and surpass 100 million tonnes for the first time.Singapore based provider of pressurised LPG vessels, Epic Gas said that it is well positioned to benefit from the improving fundamentals of the LPG shipping market.For the fourth quarter of 2018…

Offshore Mooring to Reach $1.1B by 2021

FPSO. Pic: MODEC

The global offshore mooring system market stood at US$0.93 bn in 2014 and is predicted to reach US$1.1 bn by 2021.It is predicted to expand at a CAGR of 3.60% from 2015 to 2021, revealed a new Transparency Market Research report.According to the report, the market for offshore mooring systems is propelled…

Record LNG Capacity to Get Green Light in 2019

(File photo: Novatek)

A record amount of liquefied natural gas (LNG) production is expected to get the green light in 2019 amid strong global demand, especially from China, analysts said.A final investment decision (FID) could be taken on more than 60 million tonnes per annum of LNG capacity this year, well above the previous…

Neptune Energy Names Estensen Managing Director for Norway

Odin Estensen (Photo: Neptune Energy)

Neptune Energy has appointed Odin Estensen as Managing Director of its Norwegian business, based in Stavanger.Estensen joins Neptune Energy from A/S Norske Shell, where he is currently the Norway Operated Asset Manager.With more than 28 years’ experience in the oil and gas sector, Estensen started his career with Schlumberger before joining Shell in 1990…

Build It and They Will Buy: The New World of LNG Canada

Rendering of the LNG export facility (Image: LNG Canada)

The first major liquefied natural gas (LNG) project to be approved globally in five years will be built in Canada, but its underlying philosophy appears to be more closely allied to the Australian concept of "she'll be right, mate."The LNG Canada project was given the green light on Tuesday by Royal Dutch Shell…

DNV GL Completes Due Diligence of World’s Largest Offshore Wind Farm

Image: DNV GL

DNV GL has successfully completed a lenders’ technical due diligence on Ørsted’s Hornsea Project One, the world’s largest offshore wind farm with a total capacity of 1.2 GW.The project, which is currently under construction, consists of 174 7 MW Siemens Gamesa wind turbines and is located 100 km offshore, making it the furthest offshore wind farm in the UK.

DNV GL Pact with WeatherTech on Wind Turbines

Photo: DNV GL

DNV GL, the world’s largest resource of independent energy experts and certification body, today announced that it has joined forces with Swedish atmospheric science experts, WeatherTech.The combined expertise of both companies will enable the development of the most advanced icing model for wind turbines available on the market…

DNV GL Provides Tech Support for 3 Norwegian Wind Farms

The wind farms comprise 70 Siemens Gamesa 4.2MW turbines, located near Stavanger in Norway. Image: DNV GL

DNV GL, the world’s largest resource of independent energy experts and certification body, today announced that the company’s technical expertise was an important part of the due diligence of the Bjerkreim cluster, a 294-megawatt group of wind farms in Norway.The German asset manager for renewable energy…

Tullow to Pay Seadrill $254 mln Over Ghana Dispute

Photo courtesy of Seadrill

A London judge ordered Tullow Oil to pay rig owner Seadrill around $254 million saying Tullow was wrong to end a rig contract in Ghana on grounds of force majeure over a maritime dispute, Tullow said on Tuesday.Tullow cancelled the contract for Seadrill's West Leo rig in December 2016 after Ghana set a drilling…

DNV GL Completes Due Diligence of Dutch Windpark Spui

Photo: DNV GL

DNV GL, the world’s largest resource of independent energy experts and certification body, has successfully completed comprehensive due diligence of the Dutch Windpark Spui, for a group of lenders who are providing the debt financing for the project. The power generated at Windpark Spui, which will supply renewable electricity to more than 24…

Expected LNG Surplus Evaporates, New Projects Looming

File Image (CREDIT: AdobeStock / © Fotmart)

Liquefied natural gas (LNG) producers around the globe are once again considering new investments as expectations of a glut in supply wither away in the face of strong, China-led demand growth in Asia. Given it takes several years to go from a Final Investment Decision (FID) to producing cargoes of the super-chilled fuel…

DNV GL Advises on Acquisition of UK's Wind Farm

Image: DNV GL

DNV GL secured a leading role as technical advisor to GVO Wind Ltd and Bluemerang Capital Ltd, supporting the sale of an 80% stake of the 26.1 MW Ventus portfolio of wind projects. Ventus is the UK’s largest portfolio of feed-in-tariff wind turbines, comprising 53 operational projects located across the UK.

Asia's Soaring Gas Demand Beckons New LNG Projects

File Image: A typical LNG Carrier (CREDIT: GAC)

Global LNG imports rose by 20 percent in 2017; new demand emerges across South, Southeast Asia. Soaring gas demand from China, India and Southeast Asia is sucking up an LNG supply glut previously expected to last for years, opening opportunity for new production from East Africa to North America that had been deemed part of the overhang.

North Sea Forties Pipeline Ramps Up Again Slowly

Buzzard oilfield restarts, pumping below full rate-source; Forties has temporary flow restriction. Oil and natural gas flows along Britain's biggest and most important oil pipeline, Forties, were ramping up slowly on Thursday as the system restarts after its second unplanned outage in two months, industry sources said.

Ineos: Forties Oil Flows Back to Normal 'Around New Year'

All restrictions of flows have now been lifted; force majeure on supply still in place. Britain's biggest and most important oil and gas pipeline Forties should resume normal flows around the new year, slightly earlier than previously flagged, its operator Ineos said on Thursday. Ineos had previously expected the pipeline…

North Sea Forties Pipeline up at Half Capacity

Britain's biggest and most important oil pipeline, Forties, was ramping up throughput after repairs and was currently pumping at around half its normal rates, a trading source familiar with the operations said on Wednesday. Forties normally pumps about 450,000 barrels per day. The pipeline's operator Ineos…