The world’s largest semi-submersible crane vessel Sleipnir will arrive in the Port of Rotterdam for the first time on Saturday, the 21st March. Sembcorp Marine, a Singaporean ship and offshore builder, completed the construction of Heerema’s Sleipnir in May 2019 and it set on…
Chevron has signed a memorandum of understanding with Sonatrach to initiate joint discussions on exploration, development, and exploitation of hydrocarbons in Algeria following the promulgation of the new Algerian Hydrocarbons Law. The new law is aimed at stimulating foreign investment in Algeria’s oil and…
Global wave and tidal stream energy production has risen tenfold over the last decade, according to a report issued today by a leading ocean energy organisation. Ocean Energy Systems (OES) annual report shows cumulative energy produced from wave and tidal stream sources surged from…
Oil companies are being forced to pay exorbitant prices for oil tankers as shipowners book vessels for storage and Saudi Arabia snaps up ships as it prepares to flood the market with crude. Reliance Industries Ltd booked the supertanker Princess Mary for more than $400,000 a…
Malaysia’s FPSO operator Yinson has finally managed to secure a more long-term deal for its Lam Son FPSO, which is operating offshore Vietnam. In a Bursa Malaysia filing on the 16th March, Yinson said that PTSC had entered into a bareboat charter contract for…
The US Department of Energy is preparing to purchase crude oil for the Strategic Petroleum Reserve (SPR), which has room for an additional 77 million bbl. “The department is confident that the purchase of oil could begin in as soon as two weeks,” an…
Since January, the movement of goods and people within Mongolia has been restricted within and across its borders to prevent the spreading of the novel coronavirus (COVID-19). Following the first positive test for COVID-19 in Mongolia on the 10th March, the Government of Mongolia increased its restrictions on flights in and out…
Jersey Oil & Gas will lead a joint integrated studies agreement involving various operators in the Greater Buchan Area of the UK central North Sea. This involves technical and commercial evaluation studies for a collaborative development of the wider Greater Buchan Area, where proven…
The state of Victoria said on the 17th March that it would lift a ban on onshore conventional gas drilling from 2021 as it looks to boost local gas supply, in a controversial move which came earlier than expected. ‘The decision follows three years…
It is getting tougher for refiners to make money on gasoline as demand plunges, signalling more dark days ahead for oil markets. The US benchmark crude tumbled to a four-year low on the 16th March while gasoline futures in New York plummeted 23% to…
