Climate change is a reality which no one can deny at present, and with the natural resources declining at a rapid rate, it is affecting various industries drastically. The manufacturing industry, especially the automotive sector which is growing at the fastest rate, is exhibiting…
The global LNG market has continued to defy expectations of many market observers, with demand rising 29 million tonnes to 293 million tonnes in 2017, according to Royal Dutch Shell Plc’s annual LNG Outlook. Strong demand growth, says Shell, is consistent with its inaugural…
Crude oil products will continue to dominate global energy demand for transportation through 2040 despite surprisingly strong growth in electric vehicle sales, BP Plc said in its 2018 Energy Outlook Oil and gas will still play a major role under each of the forecast’s…
Schlumberger and Subsea 7 SA announced on the 23rd February that they have entered into exclusive negotiations to form a joint venture. The companies said the JV would build on the success of the Subsea Integration Alliance, established in 2015, which currently combines the…
Dril-Quip has been awarded a contract to supply top tensioned riser (TTR) systems and related services for the development of the Ca Rong Do Project located offshore Vietnam operated by Repsol with the participation of Mubadala, PVEP and PetroVietnam. Dril-Quip will provide a drilling…
Borr Drilling Ltd has announced a binding tender agreement to offer to purchase all outstanding shares of Paragon Offshore Ltd. Total acquisition price is estimated at US$232.5 million. The Borr board of directors has approved the transaction and major shareholders have expressed support for…
Canadian Solar Inc, one of the world’s largest solar power companies, has announced that it has completed the sale of a 142MWp solar portfolio to Greencoat Solar II LP (“Greencoat Solar”), managed by Greencoat Capital LLP (“Greencoat”). The solar portfolio consists of 24 operational…
Bangladesh Exploration & Production Company Ltd (Bapex) has selected a joint venture drilling and services contractor from Azerbaijan to drill two exploration wells and one appraisal well. Socar AQS will drill onshore wells in Bangladesh designated Semutang Dakkhin 1, Begumganj 4, and Modarganj 1….
The first new oil refinery to be built in Turkey in 30 years will start up in the third quarter of 2018, the builder and operator Azeri state energy firm SOCAR said on the 22nd February. The US$6 billion Star refinery will supply feedstock…
Norwegian shipping company Siem Offshore expects rates in the North Sea offshore support vessel market to remain volatile and generally low in 2018. In its fourth quarter 2017 report on the 22nd February, Siem Offshore said that the North Sea OSV market continued to…
