Indian Oil Corporation Ltd (IOC) has let a contract to a consortium of Maire Tecnimont SpA to provide engineering, procurement, construction, and commissioning (EPCC) services for a new unit to be installed as part of IOC’s project to increase crude oil processing capacity at its…
Insurers reach final settlement with Suez Canal Authority to release Ever Given On the 5th July it was announced that the UK P&I Club has agreed a formal solution with the Suez Canal Authority (SCA) to release the Ever Given following months of negotiations since…
OPEC+ infighting has deprived the oil market of extra supply and sent crude surging to a six-year high in New York. It’s too early to tell whether the breakdown of the cartel’s meeting on the 5th July could escalate into a conflict between Saudi Arabia and…
Oilfield services provider Petrofac has been awarded a three-year contract extension from Neptune Energy valued in the region of US$14 million. Petrofac said on the 6th July that the renewal, which comes into effect on the 1st January 2022, includes the provision of operations…
Nigeria is losing an average of 200,000 barrels of oil per day – more than 10% of its production – to pipeline vandalism, the country’s information minister said on the 5th July. Nigeria relies on oil exports for more than half its budget and…
Vestas has received a 35 MW order to supply turbines to two projects being developed for corporate heavy industry in Belgium, including providing renewable power for steel production. The two projects are being developed by Storm, a Belgian wind farm developer and owner-operator, and…
BOTAŞ Petroleum Pipeline Corporation has taken delivery of the Ertuğrul Gazi, an ABS-classed floating storage and regasification unit (FSRU). Hyundai Heavy Industries in South Korea built the 295-metre (968-foot) long ship, in accordance with the ABS Guide for Building and Classing LNG Regasification Vessels….
A towering pillar of fire in Azerbaijan’s energy-rich sector of the Caspian Sea late on the 4th July was caused by a mud volcano, according to the country’s Emergencies Ministry. The eruption, which continued to smoulder on the 5th July, didn’t affect nearby oil…
The Biden administration could face pressure to block Russia’s Nord Stream 2 natural gas pipeline after a House of Representatives panel passed an amendment seeking to repeal the US State Department’s ability to waive sanctions on the project. These sanctions are mandatory not discretionary,”…
Russia’s Lukoil has entered into an agreement to acquire a 50 per cent operator interest in the Area 4 project in Mexico through the acquisition of the operator’s holding company. Lukoil said on the 5th July that the transaction value is US$435 million plus…
