Energy Unit News

Canada-based oil company CGX Energy OYL.V will begin dredging and building the docks of a key deepwater port at Berbice, in eastern Guyana, planned to serve the South American nation's oil and agriculture sectors, the firm's chairman said on Wednesday.CGX Energy unit Grand Canal Industrial Estates in 2010 acquired a 50-year lease for a 55-acre parcel strategically located near the Berbice River for the project. When complete, it would become Guyana's third oil port and its only deepwater facility."The construction of docks and dredging will begin very shortly…

Oil major Royal Dutch Shell's clean energy unit will provide renewable energy credits (REC) to oilfield firm Baker Hughes' facilities in United States for a two-year period, the companies said on Wednesday.

COPENHAGEN, Feb 20 (Reuters) - Prospects for the offshore oil drilling market are improving but profits for drillers are still under pressure and rates will not rise before 2019, the head of A.P. Moller-Maersk's energy business said. Oil firms have seen cash flow climb in 2017 a high since a three-year slump in crude prices, lifted by their cost-cutting plans and a crude price recovery. Although this has spurred new investment, it has yet to benefit suppliers, such as Maersk,…

Japan's leading shipper Mitsui OSK Lines aims to buy at least a 26 percent stake in a floating storage regassification unit (FSRU) in India, a company official said, to boost its exposure in the west coast project of Swan Energy. Swan Energy is building a 5 million tonnes a year FSRU and floating storage unit (FSU) at Jafrabad in western Gujarat state, with Mitsui awarded a long-term contract for operation and maintenance services. "We have until end-2019, by when the project will be completed, to buy at least 26 percent in Triumph Offshore," Senior Managing Executive Officer Takeshi told Reuters on Monday, referring to the Swan subsidiary that will control the $260 million FSRU. Swan aims to commission the project in the first quarter of 2020, he added.

A. P. Moller-Maersk's Chief Executive Soren Skou sees a listing of the company's energy unit as the more likely option, he said in an interview with Bloomberg.   He said that the company was still working on finding solutions for the energy unit and is looking at all options but that a stock exchange listing of the unit is probably "the more likely option".   Skou replied "yes" when asked if a stock market listing looked as if it would make the most sense at the moment.   Maersk, the world's biggest container shipper, said in September it would give itself two years to consider options for its energy operations in the form of "joint ventures, mergers or listing".   Reporting by Teis Jensen

The board of Alstom accepted General Electric's 10 billion euro ($13.82 billion) bid for its energy unit on Tuesday, several sources familiar with the situation told Reuters. Sources said GE is not in exclusive talks with Alstom. The French transport-to-turbines group is also set to receive an offer from its much larger German competitor Siemens AG , which said it had sent a letter to Alstom after its managing and supervisory boards had decided to make an offer. Alstom is expected to make a statement about the two offers early on Wednesday, before its shares, suspended since late last week, resume trading. The rival bids have triggered a fierce national debate about the fate of power turbine and train manufacturing in France - both integral to the country's engineering pedigree.

By 2013, labor staff of Baltiysky Zavod Shipbuilding Ltd (affiliate of United Shipbuilding Corporation) will increase by one third. The shipyard's backlog of orders now has grown to RUR 55-million. Revenue of Baltiysky Zavod Shipbuilding Ltd in 2012 is evaluated as RUR 12.7-billion (in the last year – RUR 1.3-billion). The company needs workers' arms and engineers' ideas to implement large state contracts, i.e. construction of a nuclear-powered 60-megawatt icebreaker for Atomflot and a diesel-electric 25-megawatt icebreaker for Rosmorport, completion of energy unit for the world's first floating nuclear power plant for Rosenergoatom.

John Wishart takes the helm as higher energy prices spur asset investment and demand for technical assurance. Wishart, who has assumed the role of Energy Director after joining the organisation from GL Noble Denton, will be based in London and is expected to bring a wealth of experience to the job, having spent more than 30 years in the industry before joining Lloyd's Register earlier this month. “Rising energy prices, stricter emission standards and the complexities of exploring new energy sources are increasing the technical assurance needs of companies operating in the energy supply chain…

According to a report from Reuters, National Energy Company (Taqa) said on July 29 that it was expanding its North Sea assets by buying the energy unit of Dutch chemicals group DSM NV for $407m. (Source: Reuters)

Utility Suez (NYSE:SZEZY) said its energy division, in conjunction with copper producer Codelco, is to construct a liquefied natural gas (LNG) regasification terminal in Mejillones, in the region of Antofagasta, Northern Chile. The group said investment in the project, to be owned by newly created company GNL Mejillones SA -- 50 per cent owned by each of Suez and Codelco -- will amount to $500m. In a first phase between 2009-2012, the project will see the construction of a jetty and an on-shore LNG regasification terminal with a send-out capacity of 5.5 mln cubic metres of gas, sufficient to produce 1,100 megawatts (MW) of electricity. An LNG vessel, with a storage capacity of approximately 135,000 cubic metres, will be permanently moored and serve as a floating storage.