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Gas Investment News

22 May 2023

Managing Offshore Oil & Gas Through Energy Transition

Copyright bomboman/AdobeStock

Scientists warn that climate change is the greatest peril that humankind has ever faced. Yet oil and gas exploration is set to clock the highest growth for more than a decade this year and next. Protesters cause disruption but, for the moment, hydrocarbon energy underpins life as we know it“Offshore oil and gas production probably matters now more than ever,” said Audun Martinsen. The Rystad Energy Partner and Head of Energy Research told Maritime Reporter & Engineering News.“It…

02 Dec 2020

Lebanon Wants Maritime Border Talks to Succeed. Difficulties Can Be Overcome, President Says

Flags of Lebanon and Israel (Credit:luzitanija
/AdobeStock)

Lebanon wants maritime border talks with Israel to succeed and difficulties that surfaced in the last session round can be overcome, President Michel Aoun told a U.S. mediator on Wednesday after the latest round was postponed.The negotiations between the old foes were launched in October, with delegations convening at a U.N. base to try to resolve a dispute about their maritime border that has held up hydrocarbon exploration in the potentially gas-rich area.But a session scheduled for Wednesday was postponed with U.S.

16 Jul 2020

What's Behind Rising Tensions in the South China Sea?

File photo Chinese seismic vessel Haiyang Dizhi 8 (Credit: China Geologic Survey)

The United States this week hardened its position on the South China Sea, where it has accused China of attempting to build a "maritime empire" in the potentially energy-rich waters, despite regional concerns.The rivals have accused each other of stoking tension in the strategic waterway at a time of strained relations over everything from the new coronavirus to trade to Hong Kong.A statement from U.S. Secretary of State Mike Pompeo on July 13 was the first time the United States…

24 Jun 2019

Vitol Builds Refinery for New Ship's Fuel

Vitol, the world's largest independent oil trader, has started building a small oil refinery at its storage terminal in Malaysia that will provide low-sulfur fuel for ships, a senior company official said on Monday.The project consists of a crude distillation unit that can process 30,000 barrels per day of crude and is located on the same site as Vitol's oil storage terminal at Tanjung Bin in the southern Malaysian state of Johor, Vitol Asia's President and Chief Executive Officer Kho Hui Meng said.A construction unit under China National Petroleum Corp (CNPC) is handling the project which will involve moving a second-hand CDU from China to the site…

18 Feb 2015

Maersk Confirms $1.5bn for Ghana Port

The Maersk Group has reaffirmed its commitment to support the expansion of Ghana’s Port of Tema to the tune of US$1.5 billion. The Group Chief Executive Officer of the multinational transport and energy giant Maersk Group, Nils Smedegaard Andersen, has re-assured of the company’s readiness to inject US$1.5billion to boost the ongoing expansion works at the Tema Port. The Maersk Group’s subsidiary, APM Terminals, signed a memorandum of understanding (MoU) with the government of Ghana in November last year to expand the Tema Port. Andersen said funding arrangements for the project have been secured pending the signing of a concession agreement between Maersk’s key partner Meridian Ports Services (MPS) and the Ghana Ports and Harbours Authority (GPHA).

03 Feb 2015

CFO of Genel Energy to Retire

Julian Metherell has informed the board of Directors of Genel Energy plc of his intention to retire from the Company, with effect from the close of the Annual General Meeting on 21st April 2015. Julian Metherell's successor as Chief Financial Officer will be Ben Monaghan, who is currently the Head of Europe, Middle East and Africa oil and gas investment banking at J.P. Morgan. Ben has worked in the oil and gas team at J.P. Morgan for the last twenty years and has been involved in many of the most significant mergers and acquisitions and debt and equity capital raises in the sector over that time. Ben Monaghan will join the Company following a period of transition prior to Julian Metherell's departure.

10 Nov 2014

Fracking Inquiry Puts Aussie Energy at Risk

The South Australian Liberal Party risks damaging investor and public confidence in the natural gas industry by moving to establish a Parliamentary inquiry into hydraulic fracturing – an industry practice that has been used safely in the State for many decades. APPEA’s Chief Operating Officer Western Region, Stedman Ellis, said the inquiry proposed by the Member for Mt Gambier had little basis in science. Mr Ellis said the South Australian Parliament needed to be wary that it did not provide a megaphone for people who want to undermine the industry and the investment and jobs it provided. “South Australia has consistently been ranked in international surveys as the most attractive Australian state for oil and gas investment,” Mr Ellis said.

21 Feb 2014

Australia Job Seekers Meet Employers at AOG Perth Conference

Offshore rig worker: File image

The organizers of the Oil & Gas Exhibition & Conference (AOG) say that the demand for labour is so high that by 2018 the oil and gas workforce is expected to increase by 57 percent, according to the Australian Workforce and Productivity Agency. On 21, February 2014 over 1000 graduates and tertiary students meet with major employers at Perth Convention and Exhibition Centre  to learn about job opportunities, graduate programs and vacation work available in the oil and gas sector.

30 Jan 2014

Stolt-Nielsen Reports Improved Fourth Quarter

Photo: Stolt Tankers

Stolt-Nielsen Limited has reported unaudited results for the fourth quarter ended November 30, 2013. Net profit attributable to SNL shareholders in the fourth quarter was $36.7 million, with revenue of $524.5 million, compared with $21.8 million, with revenue of $521.8 million, respectively, in the third quarter of 2013. Net profit attributable to shareholders for 2013 was $85.8 million, with revenue of $2,099.5 million, compared with $70.2 million, with revenue of $2,071.7 million, respectively, in 2012.

17 May 2004

Oil Prices: Heading Up?

“Due to increasing demand and reducing reserves, oil prices currently at $40 are likely to soon enter a period of sustained rises resulting in a need to massively develop natural gas and renewable energy resources” according to John Westwood of energy analysts Douglas-Westwood. “Oil reserves are depleting and demand growing. Recent increases in oil demand from China, for example, are likely to accelerate. The average American consumes 25 times as much oil as the average Chinese yet China has 5 times the population and is industrialising rapidly. Vehicle growth in China is rising rapidly and this will cause global demand for oil to continue its increase.

08 Jun 2004

Will Oil Continue Heading Up?

"Due to increasing demand and reducing reserves, oil prices currently at $40 are likely to soon enter a period of sustained rises resulting in a need to massively develop natural gas and renewable energy resources" according to John Westwood of energy analysts Douglas-Westwood. "Oil reserves are depleting and demand growing. Recent increases in oil demand from China, for example, are likely to accelerate. The average American consumes 25 times as much oil as the average Chinese yet China has five times the population and is industrializing rapidly. Vehicle growth in China is rising rapidly and this will cause global demand for oil to continue its increase.

08 Nov 2006

Dung Quat Shipbuilding Wins $200m Contract

Dung Quat Shipbuilding Co. signed a US$200-million contract to build ten 54,000-ton cargo ships for Vinashin Oil and Gas Investment and Transport Joint-stock Co. The 190-m long and 32.26-m wide ships, estimated to cost some $20 million each, will be designed by the Vinashin Shipbuilding Scientific and Technological Institute and registered by DNV, a registering agency of Norway. According to the contract, the first cargo ship will be handed over in June 2008 while the remainders will be transferred with an interval of four months. Vinashin Oil and Gas Investment and Transport Co. signed a contract for ten 22,500-ton cargo ships with Bach Dang Shipbuilding Co. Source: VNA

29 Oct 1999

Shell To Spend $1B To Develop Nigerian Field

Royal Dutch/Shell plans to spend $1 billion developing the 120,000 bpd shallow water EA field off Nigeria using an innovative funding scheme. "The acreage would be developed with no investment by the government, and the private joint venture partners bearing all of the up front cost," Group Managing Director Phill Watts said. The alternative funding scheme is intended to lift the financial burden of state-run Nigerian National Petroleum Corporation - the biggest shareholder in the joint venture operated by Shell, in which Agip and Elf-Aquitaine also hold stakes. EA Field has reserves of 350 million barrels and is due to come onstream in the second half of 2002, producing 100 million standard cubic feet of gas per day in addition to oil, a Shell official said.