News

  • International Oil Cos Primed for V-Shape Recovery

    International oil companies (IOCs) are primed for a V-shaped recovery in free cash flow and may generate record figures this year if oil prices average US$55 a barrel.   That’s according to analysis from global natural resources consultancy Wood Mackenzie, which highlighted that, at the…

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  • Solstad vessels to support drilling off Australia and Timor Leste

    Norwegian vessel owner Solstad Offshore has secured new contract awards for its vessels to support drilling campaigns in Australia and Timor Leste.   Solstad confirmed on the 26th February that the large 2010-built AHTS Normand Ranger has been awarded a contract in Australia, starting in…

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  • Methanex mothballs Waitara Valley methanol plant in NZ

    Methanex Corporation, Vancouver, is to mothball its Waitara Valley methanol plant in the Taranaki region of the North Island of New Zealand.   The company says the decision has been made to close down the plant’s production because of its inability to secure sufficient gas…

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  • Borssele site V fully commissioned offshore the Netherlands

    The Two Towers consortium’s Borssele wind farm site V in the Dutch North Sea has been fully commissioned.   The consortium consists of Van Oord, Investri Offshore, and Green Giraffe.   Located about 20 km (12 miles) off the Dutch coast, it features two Vestas…

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  • ADNOC Shipping Arm Buys 6 Very Large Crude Carriers

    ADNOC’s shipping and maritime logistics arm, ADNOC Logistics & Services, has announced the acquisition of six Very Large Crude Carriers (VLCCs).   The company noted that two VLCCs have already been deployed into its fleet and that it has placed an order for three newbuild…

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  • Iran to start Khesht field production

    Iranian Central Oil Fields Company, one of the major production companies of the National Iranian Oil Company, plans to start crude production at Khesht oil field on the 21st March.   Development of the field is nearly 90% complete, the company said on the 22nd…

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  • Sardinia LNG terminal nears completion

    Construction of Higas SRL’s LNG terminal at the port of Oristano, western Sardinia, is in its final phase. The terminal, Sardinia’s first, is expected to enter service first-half 2021, operated and maintained by Reganosa.   The terminal includes a jetty capable of receiving LNG vessels…

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  • Avacon to Use Rolls-Royce Battery Solution

    An mtu EnergyPack from Rolls-Royce is at the centre of a field test being carried out in the German State of Niedersachsen with the aim of supplying power sustainably and, as far as possible, independently of the public utility grid.   The project name is…

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  • Fenix gas project under review offshore Argentina

    Total and its partners are working to progress the Fenix gas field development offshore southern Argentina towards a final investment decision, according to Wintershall Dea CEO Mario Mehren.   Mr Mehren, speaking at a results presentation, said that the recent decision by Argentina’s government to…

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