Freeport LNG Kicks Off Train 2
US-based Freeport LNG has started commercial operations at its second of three planned liquefaction trains.Freeport LNG Train 3 remains on track to meet its previously announced schedule, with initial production of LNG scheduled for Q1 of 2020, said McDermott International, Inc. with its partners, Chiyoda International Corporation and Zachry Group."We continue to advance the Freeport LNG Project with another significant accomplishment…
Exxon to Load First Crude from Guyana This Weekend
The first-ever cargo of Guyana's crude for export is scheduled to begin loading this weekend so the oil can be processed at Exxon Mobil's refining system, the company told Reuters on Friday.Exxon has so far made 15 discoveries of oil reserves in Guyana, turning a risky exploration venture into one of the world's most promising oil mega-projects. The company is entitled to the first two crude cargoes to be exported from the Liza field…
NOC Condemns Calls for Oil Export Terminals to be Shut
Libya's state oil firm NOC on Friday condemned calls to shut oil export terminals in eastern Libya controlled by military commander Khalifa Haftar ahead of a summit in Germany where he will face pressure to halt his campaign to take the capital.Tribal leaders in eastern and southern Libya called on Thursday to shut the terminals in protest at what they called the internationally-recognized government in Tripoli's use…
Oilfield Services Giants Start Year with Asset Sales
Schlumberger, Halliburton Co, and Baker Hughes Co have kicked off the new year by putting units up for sale, as the three largest names in oilfield services seek to reshape their businesses and adjust to falling demand.Oilfield service providers are facing reduced spending by oil and gas producers as investors push for higher shareholder returns rather than more drilling activity. Competition also is forcing service companies to exit less profitable businesses.
Nordex Wind Energy Orders Top 6.2GW in 2019
The turbine manufacturing and installation company Nordex Group booked turbine orders totaling 6207MW in 2019, up 31% on the 4754MW in 2018.The German manufacturer secured deals with a combined capacity of 1477MW in the fourth quarter of last year, which was down on the 1679MW in the last three months of 2018.Overall, the Nordex Group received orders to deliver 1,616 wind turbines with a total output of 6,207 MW in 2019…
Aramco Mulls Offshore Oil Expansions
Saudi Aramco is continuing to focus significant efforts on crude oil expansion. The major expansions at Saudi Aramco’s offshore oil fields of Marjan, Zuluf, Safaniyah and Berri are expected to comprise the majority of the company’s upstream investment over the next three years.According to GlobalData, five major expansion projects – four crude and one natural gas – are being planned to boost output in Saudi Arabia."Although these developments will also add gas and NGL capacity…
Floatgen Output Doubles in H2 2019
The 2 MW Floatgen floating wind turbine, the first wind turbine installed offshore France, more than doubled its power production in the second half of 2019 compared to the first semester, reaching an annual total of 6GWh.According to the developer Ideol, which installed floating foundation on the Sem-Rev test site (Atlantic Coast of France), the number was achieved because of a time availability exceeding 94.6% in the second semester and an above-average capacity factor.During the second half of 2019…
SGRE Completes Senvion Purchase
The renewable energy major Siemens Gamesa Renewable Energy (SGRE) has finalized the acquisition of Senvion's European onshore service assets and intellectual property (IP).The German-Spanish manufacturer said in a press release that it has a “robust integration plan” for the assets, which will add 9GW of machines in 13 countries to its service book, bringing the total to 69GW.The addition of the Senvion assets marks an important step in the company’s growth strategy…
Oxy Slashing Jobs 'Significantly'
Occidental Petroleum Corp said on Wednesday it would begin dismissing workers in a new cost-cutting move following its $38 billion acquisition of Anadarko Petroleum.The company has already "significantly" cut staff through a voluntary program, spokeswoman Melissa Schoeb said in an email. She did not respond to requests for information about the number of employees to be cut or any potential charge to earnings.The combined company had about 16…
Indonesia Plans New Gas Pricing for Industrial Users
Indonesia plans to unveil a new gas pricing policy for industrial customers in March in a bid to lower energy costs for manufacturers, Energy and Mineral Resources Minister Arifin Tasrif said on Thursday.Indonesia's President Joko Widodo earlier this week asked his cabinet to come up with a strategy to lower gas prices for manufacturers to around $6 per million British thermal units (mmbtu).Manufacturers have been complaining about gas prices running at about $8-$9 per mmbtu…
China Opens Up to Foreign E&P Firms
For the first time, China will this year allow foreign companies to explore for and produce oil and gas in the country, opening up the industry to firms other than state-run energy giants, as Beijing looks to boost domestic energy supplies.The long-awaited opening accompanies a reshuffle of the so-called "midstream" pipeline business, but experts say it may not excite immediate interest from global drillers because of the poor overall asset quality of China's hydrocarbon resources.From May 1, foreign firms registered in
Cenovus Energy Sets Out to Slash Emissions
Canada's Cenovus Energy on Thursday unveiled plans to reduce per-barrel greenhouse gas emissions by 30% by the end of 2030, as the country's oil industry faces growing pressure from environmental activists.The Alberta-based integrated oil and gas company said it will spend an additional C$1.5 billion on businesses run by the country's indigenous communities.Opposition from environmental and indigenous groups have stalled…
Norwegian PM Opens Johan Sverdrup Field
Norway's prime minister Erna Solberg has opened the Johan Sverdrup field center, and the Minister of Petroleum and Energy, Sylvi Listhaug, also attended the opening.Since Equinor and the Johan Sverdrup partners Lundin Norway, Petoro, Aker BP and Total started the field on 5 October last year, production has increased to a level well above 300,000 barrels per day.Johan Sverdrup is expected to yield a total production revenue…
Kuwait Signs 15-yr LNG Gas Deal with Qatar
State-owned Kuwait Petroleum Corp signed a 15-year agreement with Qatar Petroleum to import three million tonnes of liquefied natural gas (LNG) each year starting from 2022.The agreement was signed by Dr. Khaled A. Al-Fadhel, the Minister of Oil and the Minister of Electricity & Water, the Chairman of the Board of Kuwait Petroleum Corporation and His Excellency Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs…
Europe Dominates LNG Import Story in 2019
Global liquefied natural gas (LNG) production jumped in 2019, triggering oversupply and low prices that are expected to persist in 2020. Initial full-year data from LNG Edge shows exports at 355 million tonnes in 2019, up from 314.9 million tonnes in 2018.This represents the largest ever increase in production.While East Asian, especially Chinese, demand increased in 2017 and 2018 to absorb additional production, there was little change this year.
Oil Hits $70 a Barrel
Oil prices rose a further 2% on Monday, pushing Brent above $70 a barrel, as rhetoric from the United States, Iran and Iraq fanned tensions in the Middle East after a U.S. air strike which killed a top Iranian military commander.Brent crude futures soared to a high of $70.74 a barrel and was at $69.74 at 0940 GMT, up $1.14, or 1.66%, from Friday's settlement.U.S. West Texas Intermediate crude was at $63.92 a barrel, up 87 cents…
Equinor Targets Zero Emissions
Norwegian oil producer Equinor aims to cut greenhouse gas emissions generated at offshore fields and onshore plants in Norway by about 40% in the coming decade and to near zero by 2050, it said on Monday.The cuts could allow Norway, western Europe's top oil and gas exporter, to continue to pump millions of barrels of oil even as the country seeks to fulfill obligations under the 2015 Paris climate agreement to slash domestic…
Energean, DEPA Pact for EastMed Pipeline
UK-based international oil and gas exploration and production company Energean Oil & Gas and the Public Gas Corporation of Greece (DEPA) have agreed to cooperate to further support the EastMed Pipeline Project.The have signed a Letter of Intent (LoI) for the potential sale and purchase of 2 BCM natural gas per annum from Energean’s gas fields offshore Israel, where Energean is investing $1.7 billion for the development of the Karish & Tanin fields through the FPSO “Energean Power”.DEPA…
US Drillers Cut Oil Rigs
U.S. energy firms reduced the number of oil rigs operating for the second straight week as producers follow through on plans to slash spending on new drilling.Drillers cut 7 oil rigs in the week to Jan. 3, bringing the total count down to 670, energy services firm Baker Hughes Co said in its closely followed report on Friday.In the same week a year ago, there were 877 active rigs.Even though the number of rigs drilling new wells has fallen in 2019, U.S. oil output has continued to increase.
Oil Jumps After US Kills Iran's Soleimani
Oil prices jumped more than $3 on Friday after a U.S. air strike in Baghdad ordered by President Donald Trump killed the head of Iran's elite Quds Force, sparking concerns for an escalation of regional tensions and disruption to crude supplies.Brent crude rose to a peak of $69.50 a barrel, its highest since mid-September when Saudi oil facilities were attacked, and was up 3.7% or $2.43 a barrel by 1445 GMT at $68.68.West Texas Intermediate (WTI) crude was up $2.17 or 3.5% at $63.35 a barrel…
Mexico and Pemex Face Downgrade Risk
Mexico threw troubled state oil company Pemex a lifeline in 2019 to stop $80 billion in bonds held by investors worldwide being labeled junk by credit rating agencies. Now, investors worry that the state itself is a risk for Pemex.Mexico's creditworthiness came under increasing scrutiny in 2019, with two rating agencies flipping their sovereign outlook for the country to negative and one downgrading its rating.Economic…
US Oil Workers Leaving Iraq After Air Strike
Dozens of U.S. citizens working for foreign oil companies in the southern Iraqi oil city of Basra were leaving the country on Friday, the Oil Ministry said, after a U.S. air strike killed a top Iranian commander in Iraq.The U.S. embassy in Baghdad urged all its citizens to leave Iraq immediately, hours after the U.S. killed Iranian Quds Force leader Qassem Soleimani and Iraqi militia commander Abu Mahdi al-Muhandis.Iraqi officials said the evacuation would not affect operations…
Estonia Mulls OWF in Gulf of Riga
The Estonian government's decision to initiate the construction permit procedure for the Gulf of Riga offshore wind farm allows Eesti Energia to continue its research and search for partners for the construction of an offshore wind farm in the Gulf of Riga.Eesti Energia, the state-owned international energy company that operates in Baltic countries, said that the Gulf of Riga offshore wind farm has the potential to become the first joint Estonian-Latvian renewable energy production project…
Russia's Floating Power Plant Plugged In
Russia’s state-owned nuclear company Rosatom said its floating nuclear power plant has been connected to the grid and has commenced electricity production for the first time in a remote region of Russia.The floating power unit (FPU) Akademik Lomonosov has been connected to the grid, generating electricity for the first time in the isolated Chaun-Bilibino network in Pevek, Chukotka, Russia’s Far East. This happened after the Russian regulator Rostekhnadzor issued an operations permit…
Eni Extends Abo FPSO Contract
BW Offshore, a provider of floating production services to the oil and gas industry, has signed an extension agreement for Abo FPSO with Nigerian Agip Exploration Ltd, a subsidiary of ENI S.p.A.The contract is extended until end Q4 2020, with options until Q4 2021, said a press release from the Oslo Stock Exchange listed company.BW Offshore is represented in all major oil and gas regions world-wide with a fleet of 15 owned FPSOs.The company has more than 30 years of production track record…
Castleton Closes Shell Shale Deal
Houston-based Castleton Resources said that its subsidiary Castleton Commodities International LLC (CCI) has closed on the acquisition of the East Texas and North Louisiana Haynesville Shale assets of BG US Production Company LLC, a subsidiary of Royal Dutch Shell plc. Pro forma for the acquisition, Castleton Resources will hold approximately 222,400 net acres in the region and produce approximately 334 MMcfe/d (net).
Pandion Energy Completes Duva Stake Sale
Norwegian oil and gas company Pandion Energy has completed the sale of its 10 percent non-operated interests in PL 636, comprising the Duva oil and gas field, and PL 686B.According to Pandion Energy it was previously announced transaction with Solveig Gas Norway AS.The Duva oil and gas field is located in the northern North Sea and was discovered in the autumn of 2016. The Plan for Development and Operation (PDO) was…
Oil on Track for Biggest Yearly Rise Since 2016
Oil fell on the last trading day of the decade on Tuesday but was still on track for monthly and annual gains, supported by a thaw in the prolonged U.S.-China trade row and Middle East unrest.Brent crude was down 74 cents at $65.93 a barrel by 1434 GMT. U.S. West Texas Intermediate (WTI) crude fell 82 cents at $60.86 per barrel.The volume of trade remained low as many market participants were away for year-end holidays.Brent has gained about 22% in 2019 and WTI has risen 34%.
Petrofac Secures $130 Mln in PDO Awards
Petrofac announced on Tuesday it has secured a new contract and has been awarded of an additional scope of work with Petroleum Development Oman (PDO), with a combined value of approximately $130 million.The new contract award, under a 10-year framework agreement signed in 2017 with PDO, is an engineering, procurement and construction management (EPCM) services contract for the Mabrouk North East Development Project in…
Oil Prices Set for Biggest Yearly Rise Since 2016
Oil rose on the last trading day of the decade on Tuesday and was on track for monthly and annual gains, supported by a thaw in the prolonged U.S.-China trade row and Middle East unrest.Brent crude was up 11 cents at $66.78 a barrel by 1143 GMT. U.S. West Texas Intermediate (WTI) crude rose 6 cents at $61.74 per barrel.The volume of trade remained low as many market participants were away for year-end holidays.Brent has gained about 24% in 2019 and WTI has risen 35%.
Gazprom Neft Crosses 12-MT Oil at ARCO
Russian oil and gas company Gazprom Neft said that its Prirazlomnaya offshore platform in the southeastern Russian Barents Sea has produced its 12-millionth metric ton (13.23 MM ton) of ARCO (Arctic-blend) oil.The shipment was delivered by the Kirill Lavrov ice-class shuttle tanker to the storage tanker in Kola Bay, for onward transport to locations in Europe.The Prirazlomnoye field is the first — and, thus far, the only — project at which oil is being produced on the Russian Arctic Shelf.
Yamal LNG Starts Using New Storage Tank
Novatek, the largest independent natural gas producer in Russia, started using a dedicated LNG transshipment tank at the Zeebrugge LNG terminal in Belgium.Novatek booked the tank’s capacity as part of a 20-year transshipment agreement between Yamal LNG’s unit Yamal Trade and Fluxys LNG.The dedicated LNG tank was built specifically for the transshipment needs of Yamal LNG with a capacity of 180,000 cubic meters, allowing…
U.S. Drillers Add Rigs for First Month in 13
U.S. energy firms reduced the number of operating oil rigs for the first time in three weeks as producers follow through on plans to slash spending on new drilling.Drillers cut 8 oil rigs in the week to Dec. 27, bringing the total count down to 677, the lowest since the week to Nov. 15, energy services firm Baker Hughes Co said in its closely followed report on Friday. <RIG-OL-USA-BHI>In the same week a year ago, there were 885 active rigs.That put the oil rig count down 208 for the year…
Nigeria LNG Inks FID for Train 7
Nigeria LNG (NLNG) signed a long-awaited final investment decision on its Train 7 processing unit in Abuja on Friday, taking a step forward in increasing its liquefied natural gas production.NNPC and partners Eni, Total and Shell attended the signing ceremony for Train 7, which is expected to boost Nigeria's LNG output by 35% to 30 million tonnes per year.The agreement is a bright spot for Nigeria, a nation rich in oil and gas that has been working for years…
Offshore Energy Outlook for 2020
The “new normal” is a phrase tossed around often in offshore energy circles today as those servicing and operating in the sector grapple with the harsh realities of the prolonged industry downturn. Operators, service companies and equipment suppliers have been forced to adjust to oil selling at prices well below the $100+ per barrel mark seen in years past. As of this writing, Brent oil was hovering around $62 per barrel…
Oil Hits Highest Since September
Oil rose towards $68 a barrel to its highest in over three months on Thursday, buoyed by a report showing lower U.S. crude inventories, hopes of an end to the China-U.S. trade dispute and OPEC-led efforts to constrain supply.The American Petroleum Institute, an oil industry group, said late on Tuesday that U.S. crude stocks fell by 7.9 million barrels last week, much more than the decline forecast by analysts.Brent crude, the global benchmark, reached $67.83 a barrel, the highest since Sept.
Shell Wins Auction for Guyana's First Liza Cargoes
Royal Dutch Shell won the rights to market Guyana's first cargoes of crude oil, the government said on Tuesday, just days after oil production began and launched the impoverished South American country into the ranks of world suppliers.An ExxonMobil-led consortium, which includes Hess Corp and China's CNOOC Ltd, began producing crude from the Liza well on Friday. The companies have discovered more than six billion barrels of recoverable oil and gas in a massive offshore block.Guyana has no history of oil production…
Louisiana LNG Unit Starts Production
Train 2 of the Cameron LNG project in Hackberry, Louisiana, has begun producing liquefied natural gas (LNG), announced McDermott International and its joint venture partner, Chiyoda International Corporation, a U.S.-based wholly-owned subsidiary of Chiyoda Corporation, Japan.While production is in the initial phases, this significant project accomplishment is a precursor to substantial completion of Train 2."This accomplishment…
Woodside Finalizes Gas Deal with Uniper
Oil and gas producer Woodside Petroleum Ltd said on Tuesday it has signed an agreement to supply liquefied natural gas (LNG) to German utility Uniper SE for 13 years starting 2021.Under the agreement, Woodside said it would initially supply up to 0.5 million tonnes per annum (Mtpa) of LNG, which could increase to 1 Mtpa from 2025.However, supply from 2025 remains conditional upon a final investment decision related to the company's Scarborough project off northwestern Australia.Woodside is looking to develop Scarborough
Wintershall Dea Norge Wins Norway Permit
The Norwegian Petroleum Directorate (NPD) has granted Wintershall Dea Norge, a Norwegian unit of the German oil company Wintershall Dea, a drilling permit for well 66046604/5-2 S, which is located in the Norwegian Sea.According to NPD, the well will be drilled from the Scarabeo 8 drilling facility in after concluding the drilling of wildcat well 6604/6-1 for Wintershall Dea Norge AS in production license 894.The drilling…
China's Gasoline Exports Rise to Record
China's gasoline exports in November nearly tripled from a year ago to an all-time high, as refiners processed crude at near record rates to take advantage of sturdy profit margins at home although domestic demand for the motor fuel remained sluggish.Gasoline shipments were 1.84 million tonnes last month, data from the General Administration of Customs showed on Monday. That compares to the previous record at 1.73 million tonnes in October and 630…
Equinor, Rosneft to develop Arctic oilfield
Russia's Rosneft and Norway's Equinor have agreed details on how to develop an Arctic Siberian onshore oilfield, they said on Monday, their first joint investment since agreeing a strategic partnership in 2012.The firms expect to extract about 250 million barrels of oil and 23 billion cubic metres of gas in the first stage of developing the Severo-Komsomolskoye oilfield, Equinor said, without giving a value for the investment.Rosneft has a 66.67% stake and Equinor holds the remaining shares in SevKomNeftegaz…
Ørsted Secures Funding for Hydrogen Pilot
Offshore wind developer Orsted has secured funding for a demonstration project using offshore wind power to produce renewable hydrogen to power.Seven industrial partners have been awarded funding for a demonstration project in Denmark using offshore wind power to produce renewable hydrogen for road transport.Within energy, Avedøre is best known for housing Ørsted's large biomass-fuelled CHP plant, Avedøre Power Station, but in the future, the area might become home to more than heat and power production.
U.S. Drillers Add Most Rigs Since Feb 2018
U.S. energy firms added the most oil rigs this week since February 2018 - primarily in the Permian shale - even though producers have been reducing spending on new drilling for much of this year.Companies added 18 oil rigs in the week to Dec. 20, bringing the total count to 685, the most since early November, energy services firm Baker Hughes Co said in its closely followed report on Friday.In the same week a year ago…
Beach Energy Eyes Offshore New Zealand
Australian oil and gas exploration and production company Beach Energy Limited has signed an agreement with OMV GSB Oil Exploration to acquire a 30% participating interest in exploration permit (EP) PEP50119 in the Great South Basin, offshore New Zealand.Under the agreement, Beach will acquire a 30% participating interest in the permit in exchange for funding a 30% share of the Tawhaki-1 well cost and the associated work program and budget.
Eneco Buys Power from GE Haliade-X 12
Dutch energy company Eneco is set to purchase all the electricity generated by GE Renewable Energy's 12MW Haliade-X offshore wind turbine prototype.The announcement was made during a ceremony to inaugurate the prototype that was recently installed at the port of Maasvlakte-Rotterdam in the Netherlands.The prototype set a new world record this past weekend by being the first wind turbine ever to generate 262 MWh of clean energy in 24 hours…
DNV GL, DNO Pact on North Sea
The international accredited registrar and classification society DNV GL has been awarded a framework agreement by the Norwegian oil and gas operator DNO ASA to provide a broad portfolio of engineering and management support and verification services to support the operator, as it expands operations and developments in the Norwegian Continental Shelf (NCS).DNV GL will support DNO in enhancing safety, maintaining compliance…
New Testing Facility for Renewable Energy
Yaskawa Environmental Energy / The Switch announced a unique facility in Lappeenranta, Finland, enabling the testing and serial production of a new breed of large multi-megawatt-class drives for customers in the wind, marine and turbo industries.The large drive test center, set to open during spring 2020, will be capable of testing drives up to 15 MW from the start, with an advanced assembly line and lifting capacity of up to 80 tons.
Big Oil to Bid for Guyana Crude Cargoes
Large oil companies Exxon Mobil, Hess Corp, CNOOC, BP, Chevron, Total, and Eni are expected to present bids to buy the first three cargoes of Liza crude offered by Guyana's government, the South American country's director of energy said on Monday.A consortium of Exxon, Hess, and China's CNOOC has discovered more than 6 billion barrels of recoverable oil and gas resources off the country's coast. The companies plan to begin exporting crude from the country…
Africa: Strong Scope for Offshore Licensing in 2020
Throughout 2019 Africa has led licensing round activity; looking forward to 2020 this is set to continue, however results of the recent rounds have had limited success in a global context.Eight licensing rounds are open or have closed in Africa during the quarter and going forward 13 countries may offer acreage in 2020, said a report by GlobalData.Toya Latham Upstream Oil & Gas Analyst at GlobalData said: “The year has held mixed fortunes for those hosting licensing rounds in Africa.
Guyana Seeking Oil Buyers
Guyana has invited companies interested in purchasing the first three deliveries of the government's share of the country's looming oil production to present bids this week, the government said in a statement on Sunday.The government will later seek proposals from companies interested in a longer-term contract to market Guyanese crude, the statement said.U.S. oil companies Exxon Mobil and Hess Corp – part of a consortium…
U.S. Drillers Add Rigs for first Week in Eight
U.S. energy firms added rigs for the first time in eight weeks even as producers follow through on plans to reduce spending on new drilling.Companies added 4 oil rigs in the week to Dec. 13, bringing the total count to 667, energy services firm Baker Hughes Co said in its closely followed report on Friday.In the same week a year ago, there were 873 active rigs.That keeps the oil rig count on track to fall for the first year since 2016.
Offshore Wind: Decisions Needed Sooner, not Later
On September 26, the State University of New York Maritime College hosted a conference on the emerging east coast offshore wind industry. “Offshore Wind Power, Planning for America’s Ocean Energy” focused on four fundamental topics:• East Coast Wind Farm Overview – Status of the Industry.• Jobs and Supply Chain Technical Working Group.• Wind Farm Port Development.• Offshore Wind Maritime Operations.In some ways, actually clocking in for a day’s work on an offshore wind turbine is tantalizingly close.
PTTEP Charters Energy Drilling for Arthit Gig
Singapore based Energy Drilling has been awarded a contract by the Thailand's oil and gas company PTT Exploration & Production International (PTTEP) to provide drilling services on the Arthit field in Gulf of Thailand.The builder and manager of self-erecting tender assist drilling rigs said in a release that this contract secures employment for the high specification tender rig EDrill-1, for a firm term of 3 years and…
Norway's Oil Production Up in November
Norway's preliminary production figures for November 2019 rose in November from the previous month, beating official forecast by 13.2%, said the Norwegian Petroleum Directorate (NPD).The average daily production stood at 2,016,000 barrels of oil, NGL and condensate in November, which is an increase of 235,000 barrels per day compared to October.Total gas sales were 10.0 billion Sm3 (GSm3), which is an increase of 0.6 GSm3 from the previous month.Average daily liquids production in November was: 1 711 000 barrels of oil…
Oil Consumption Tracking is All About Asia
Oil market analysts must make sense of a bewildering array of statistics about production, consumption and inventories, compiled and published with varying definitions and degrees of accuracy and timeliness.The challenge is to form an accurate and nuanced picture of the whole market capable of generating useful forecasts, without becoming lost in the insignificant details.The World Bank identifies around 200 economies in the world…
Yamal LNG Gets All 15 Arc7 Ice-Class Tankers
Russian liquefied natural gas (LNG) producer Yamal LNG announced the operational start of the new Arc7 ice-class LNG tanker “Yakov Gakkel”, the fifteenth and final Arc7 ice-class tanker built specifically for the Project.The Yakov Gakkel has loaded the 354th LNG cargo in the port of Sabetta bound to China, said a press note.The vessel was built by Daewoo Shipbuilding and Marine Engineering (DSME) and is owned and operated by a 50-50 joint venture by Teekay LNG and China LNG Shipping.
Enabling AI in E&P
Oilfield services company Schlumberger and software firm Dataiku have teamed up to enable the exploration and production (E&P) industry to build and deploy their own artificial intelligence (AI) solutions across the full breadth of their upstream workflows within the DELFI cognitive E&P environment.Under an exclusive technology agreement, the partners will deliver new capabilities to help petrotechnical domain experts bridge the gap between machine learning and domain expertise to enable better insights through AI.
Malaysian State Open to Buying Petronas Stake
Malaysia's Terengganu state said on Wednesday it was open to buying a stake in national energy giant Petronas, after Prime Minister Mahathir Mohamad said he was considering such a sale to raise funds for his heavily-indebted federal government.Petronas, the world's third-largest exporter of liquefied natural gas, is one of the biggest sources of revenue for the federal government that has a debt pile of more than 1 trillion…
Ocean LNG Leads in Contracted Capacity
Ocean LNG has dominated in terms of long-term liquefied natural gas (LNG) import volumes for contracts signed by key purchasing companies for the year 2019, with almost 47% of the global contracted capacity.According to a report by GlobalData, Ocean LNG signed the biggest long-term LNG contract for 2019 with Golden Pass Products. According to the contract, Golden Pass Products will supply Ocean LNG with 15.6 million tonnes per annum (mtpa) of LNG for a period of 20 years…
