NOV Warns Virus Fallout Could Hit Supply Chain
U.S. oilfield equipment supplier National Oilwell Varco on Friday called the coronavirus a "wildcard" in the oil industry's outlook, with an extended outbreak potentially hurting access to Chinese-make materials and foreign sales.The Houston-based company said further shutdowns at its Chinese suppliers…
Baker Hughes: U.S. Oil Drillers Cut Rigs Again
U.S. energy firms this week reduced the number of oil rigs operating for a third week in a row after drilling slowed for nine straight months as independent producers cut spending by about 10% this year.Drillers cut four oil rigs in the week to Sept. 6, bringing the total count down to 738, the lowest since November 2017…
Keppel Makes First LNG Cargo Import from N. America
Singapore's Keppel Gas, a wholly owned subsidiary of Keppel Infrastructure Holdings, has completed its first liquefied natural gas (LNG) cargo import under Singapore's spot import policy.The policy allows gas customers in the Republic to import up to 10 per cent of their annual long-term contracted LNG intake on a spot cargo basis.The spot cargo of 160…
Australia's Best Option is LNG Imports
Australia has painted itself into a corner with its natural gas industry and faces the stark reality that there are no easy choices to alleviate the dual problem of a looming supply crunch and the associated higher prices.Australia is far from the first country to find itself with an energy issue, but…
Hardide Coatings Invests in North America
Surface coating technology company Hardide Coatings has appointed Mark Hanania as Business Development Engineer based in Houston to help drive growth in the oil, gas and energy sectors throughout North America.Strong growth in demand from oil and gas customers in North America and recent entry into the…
ExxonMobil Considers Importing LNG to Australia
ExxonMobil Corp, southeastern Australia's biggest gas supplier, is considering importing liquefied natural gas (LNG) to help plug a looming gas shortage from 2021 and protect its market share.The move would compete with plans by both Australia's no.2 energy retailer AGL Energy to start importing LNG…
Aggreko Pulls New Executive Pay Plan Ahead of Investor Meeting
Aggreko Plc, the world's largest temporary power provider, said on Thursday it had withdrawn a proposed executive pay policy after some investors disapproved of a new restricted share plan (RSP). The company has been looking to switch its remuneration policy to more "fairly align" shareholder and management interests as it contends with challenging market conditions.
Dryships to Expand into VLGC sector
DryShips Inc. announced today that, it has agreed to enter into a “zero cost” Option Agreement (“LPG Option Agreement”) with companies controlled by its Chairman and Chief Executive Officer, Mr. George Economou, to purchase up to four high specifications Very Large Gas Carriers (“VLGC(s)”) capable of…
AEMC Gas Market Report Highlights Need for Action
Increasing the supply and affordability of natural gas is critical to developing a genuinely national strategy to transition Australia to a cleaner energy future. APPEA chief executive Dr Malcolm Roberts said the Australian Energy Market Commission’s report on the wholesale gas market released today…
NOV, GE to Provide Integrated Solutions for FPSOs
National Oilwell Varco, Inc. (NOV) and GE Oil & Gas has agreed to collaborate on delivering integrated solutions for Floating Production Storage and Offloading (FPSO) vessels. The agreement brings together the product offerings and engineering capabilities from the two companies to optimize engineering design and supply comprehensive topside solutions for FPSO projects.
Qatargas, RWE Ink SPA Deal for LNG Deliveries
Qatargas, the World’s Premier LNG Company, today announced a flexible Sale and Purchase Agreement (SPA) with RWE Supply Trading (RWEST), a leading European electricity and gas company. Qatargas will deliver up to 1.1 million tonnes of Liquefied Natural Gas (LNG) per annum to RWEST in North West Europe for seven and a half years.
French Regulator to Assign Energy Buyers to New Suppliers
Corporate French gas or power buyers who have not switched from regulated tariffs to a market-based offer by July 1 will be assigned a new supplier selected by energy market regulator CRE, CRE said in a statement on Tuesday. Following the opening of French energy markets to competition, non-residential energy buyers are forced to chose a new supplier…
Amec Foster Wheeler Appoints Halliburton's Lewis as CEO
Jonathan Lewis to take up CEO role from June 1. British oil and gas services company Amec Foster Wheeler said it has appointed Halliburton executive Jonathan Lewis as chief executive on Wednesday, replacing long-serving CEO Samir Brikho who left unexpectedly in January. Lewis will take up his role on…
Tokyo Gas Sees It Losing Market Share Due to Liberalisation
Tokyo Gas Co expects its market share to fall by a double digit amount over the long term as it loses its monopoly on retail city gas sales in its service districts next year, the head of Japan's biggest city gas supplier said on Thursday. Next April, city gas suppliers will lose their monopoly on the retail city gas market…
Australia - A Gas Giant Abroad but Fragile at Home
A new Government report on the Australian gas market highlights the need for Government policy action to provide a ‘level playing field’ for gas. Gas Market Report 2015 released today by the Chief Economist of the Department of Industry Innovation and Science predicts significant international opportunities for Australian gas, but a domestic gas market which is vulnerable.
Fernando is GAC's BDM, O&G for Middle East
Ahead of next week’s Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC), global shipping, logistics and marine services provider GAC Group has announced the appointment of Shanaka Fernando as Regional Business Development Manager, Oil & Gas – Middle East. The move is in line with GAC’s…
Schlumberger, IBM Team Up to Boost Upstream Production
Schlumberger and IBM today announced that they have teamed up to provide integrated services to upstream oil and gas customers that will improve the business impact of production operations projects. The offering combines Schlumberger’s production optimization services, upstream expertise, and industry…
Schlumberger to Buy Cameron in $14.8 Bln Deal
Schlumberger Ltd will buy oilfield equipment maker Cameron International Corp in a deal valued at $14.8 billion to streamline supply chains and offer cost-effective services to oil and gas customers who have slashed budgets. The deal is the latest in a line of mergers in the energy industry as companies…
Smith Joins Executive Team of Voith Turbo
Elliott Smith has joined Voith Turbo’s Power, Oil & Gas Division as Vice President of Business Development and Strategy. Smith will be based at the recently-opened office in Houston’s energy corridor. “Elliott’s leadership and experience in business development will be valuable assets as we look to expand our footprint in the oil and gas market…
Vallourec Warns of Further Deterioration in Second Half
French steel pipe-maker Vallourec said its net loss deepened in the second quarter and warned of further deterioration in margins in the second half of the year in the face of falling demand from its oil and gas customers. Vallourec now expects earnings before interests, taxes, depreciation and amortisation (EBITDA) to be negative over the full year.
