Egypt's $3 Bln LNG tender in June
Egypt is reportedly to issue a tender in early June to buy up to $3 billion of liquefied natural gas over 2016 and 2017, Reuters reports. The country recently secured 90 cargoes of the liquefied natural gas, majority of which came through a $2.2 billion tender. The second tender is aimed to secure supply to the second floating storage and regasification unit (FSRU) the country is looking to set up. The first tender was awarded to Vitol, Noble Group and Trafigura.
Tsakos Energy Navigation Reports 156% Increase in Q1 Profits
Greece-based Tsakos Energy Navigation Ltd (TEN) has reported first-quarter profit of $37.3 million from $14.6 million in Q1 2014 - a 156% Increase. On a per-share basis it has profit of 42 cents. The results topped Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 36 cents per share. The oil and gas shipping company posted revenue of $114.3 million in the period, also surpassing Street forecasts.
India-ASEAN Naval Cooperation On
The Indian Navy's indigenous offshore patrol vessel, INS Saryu, will participate in a week-long ASEAN Regional Forum (ARF) Disaster Relief Exercise (DiREx). According to an official statement, the vessel is commanded by Cdr Sreekumar Pillai and operates under the Andaman and Nicobar Command. The aim of ARF DiREx is to exercise information sharing and networking among national agencies of this region…
Mobil Says Oil Discovery off Guyana is 'Significant'
Unlike almost all its neighbors, Guyana isn’t an oil producer yet. But the energy giant Exxon Mobil recently announced it had discovered “significant” oil off the coast. The discovery could put Guyana on oil and gas Map and the country could become a player in the oil marketplace. However, it will take months to ascertain the size and commercial potential of this discovery. And there could be issues…
Russian, Azerbaijani Navy to Hold First Ever Joint Drills in Caspian Sea
About 10 Russian and Azerbaijani ships will take part in a joint naval exercise in the Caspian Sea for the first time; RIA Novosti cited the statement of Russia’s Southern Military District. "The military officials of the countries reached a decision during consultations to hold a joint exercise on the defense of maritime economic infrastructure on September 2015," says the statement. According to the statement…
Yemen-bound Aid Ship Docks in Djibouti
An Iranian ship carrying humanitarian aid for war-ravaged Yemenis has arrived in Djibouti. It will be inspected by the United Nations so its cargo can be shipped to conflict-torn Yemen. It now remains to be seen whether the ship will be boarded and inspected before continuing, or whether the Tehran-supplied humanitarian aid will be offloaded. Iran’s Ambassador to Djibouti and Ethiopia Ali Bahraini welcomed the people on board the aid ship…
Oil Leak Contained at MV Miner Site
On-site workers acted quickly to contain an oil leak during the final stages of removing the wreck of the MV Miner off Scaterie Island, says the government of Canada’s Nova Scotia province. About 800 litres of oil was collected after a leak occurred during demolition of the wreckage of the MV Miner off Cape Breton's Scaterie Island. “Thankfully, the contractor already had preventative actions in place and contained the spill immediately…
Indonesia Rolls Out First Green Container Terminal
It was an historic moment for Indonesia when President of Indonesia inaugurated the Lamong Bay Terminal in Surabaya, East Java, operated by state-owned PT Pelabuhan Indonesia III (Pelindo III). The Lamong Bay is the first green-concept container terminal in the country, and will increase the port’s annual capacity from 1.5 million to 3.5 million TEUs. Once fully operational, the total capacity of this bay terminal will be 5.5 million TEUs.
Miller is VP - Government and Political Affairs, NOIA
The National Ocean Industries Association (NOIA) has promoted Megan Bel Miller to Vice President for Government and Political Affairs. She will lead NOIA's Congressional relations and Political Action Committee.Megan joined the NOIA staff in May 2013 as Senior Director, Government & Political Affairs. “Megan’s unparalleled Hill and legislative experience combined with her knowledge of the Gulf of Mexico…
Fincantieri Invests In Camper & Nicholsons
Fincantieri has signed an agreement for the acquisition of a minority stake via capital injection in Camper & Nicholsons International (Camper & Nicholsons), the world leading authority in all luxury yachting activities. The agreement includes the possibility for Fincantieri to increase subsequently its share capital in Camper & Nicholsons. The investment consolidates the presence of both companies…
Mayor Garcetti on Ratification of Port Labor Contract
International Longshore and Warehouse Union members have ratified a five-year contract governing pay and work rules at 29 West Coast ports, including those of Los Angeles and Long Beach. "Today is a big day for America's number one port -- the Port of Los Angeles. Now that the International Longshore and Warehouse Union and Pacific Maritime Association members have ratified the port labor agreement that we worked on in February…
U.S. Senators Urge Obama to Block Arctic Oil Drilling
A group of 18 mostly Democratic U.S. senators on Friday urged the Obama administration to stop Royal Dutch Shell's preparations for oil exploration in the Arctic, saying the region has a severely limited capacity to respond to accidents. The senators, from both coasts and several Midwestern states, sent a letter to Interior Secretary Sally Jewell, urging her to retire Arctic leases in the Chukchi Sea.
Pipeline Spill Could Hamper California Oil Projects
Hundreds of barrels of oil that gushed from a ruptured coastal pipeline in scenic California this week could stiffen opposition to large oil projects that companies want to build in the state, notably those to deliver cheap U.S. crude on trains. Several proposed oil-by-rail offloading terminals in California were already being contested in light of several fiery crude train derailments since 2013 that have stoked safety concerns about spills and explosions.
Severe Flooding Cuts Off Lone Road to Alaska's Oilfield
Alaska's lone road to North Slope oil field operations remains closed for the third time in two months while emergency crews continue to redirect flooding from an adjacent river, state officials said on Friday. Alaska Governor Bill Walker's office said he would sign a second disaster proclamation while in Deadhorse, the base of operations for several oilfields, after a three-day tour of drill sites that included a fly-over of the flooded area.
Shell CEO Backs Fossil Fuels, Climate Change Warnings
The world's fossil fuel reserves cannot be burned unless some way is found to capture their carbon emissions, Royal Dutch Shell Plc Chief Executive Officer Ben van Beurden said on Friday. In an interview published in Britain's Guardian newspaper, Van Beurden forecast that global energy use would produce "zero carbon" by the end of the century, and that his group would get a "very large segment" of its earnings from renewable power.
2 Americans Rescued North of Cuba
A Coast Guard MH-60 helicopter crew rescued two American sailors whose vessel ran aground approximately 25 miles north of Gibara, Cuba, Friday. Watchstanders at the Coast Guard 7th District command center were first notified of the emergency Friday morning when a distress signal from the vessel's Emergency Position Indicating Radio Beacon, commonly referred to as an EPIRB, began transmitting. The signal was determined to be from the 39-foot sailing vessel Boxer.