Daily Archives: February 16, 2017

PGS narrows loss as revenues sink on low pricing

Rate this article By Offshore Energy Today.. Petroleum Geo-Services (PGS), a marine geophysical company, narrowed its fourth quarter 2016 loss while its revenues dropped by 33 pct due to low contract pricing. In its quarterly report on Thursday, the geophysical company posted a smaller net loss for the fourth quarter of 2016 totaling $156.1 million,…

Canada’s LNG imports hit all-time low

Rate this article By LNG World News Canaport LNG’s storage tanks (Image: Canaport LNG)Canada’s imports of liquefied natural gas (LNG) reached an all-time low last year since the country started importing the chilled fuel in 2009, according to the National Energy Board. Canada imported only four LNG cargoes in 2016, equivalent to about 329 million…

Baleària plans new investment in LNG-fueled fleet

Rate this article By LNG World News Image courtesy of BaleàriaSpanish ferry operator Baleària intends to invest up to €450 million (US$478.9 million) in new vessels and terminals over the next five years. The company noted that three new LNG-fueled vessels, one of which will be built at the LaNaval shipyard and two at Cantieri…

GAIL seeking single LNG cargo for March delivery

Rate this article By LNG World News Dahej LNG terminal (Image courtesy of Petronet LNG)India’s gas utility GAIL has reportedly issued a tender seeking a cargo of liquefied natural gas for delivery in March. The cargo would be delivered to the Dahej LNG terminal in the first part of the month, Reuters reports citing sources…

India awards eight offshore blocks under 2016 bid round

Rate this article By _Offshore_Energy_Today_ India’s Cabinet Committee on Economic Affairs has approved the award of operatorship for a total of 31 onshore and offshore oil and gas blocks. The Cabinet said on Wednesday that the blocks consist of small oil and gas fields discovered by the Oil and Natural Gas Corporation (ONGC) and Oil…

OPEC could extend or deepen supply cut if oil glut persists: sources

Rate this article By _Offshore_Energy_Today_ By Rania El Gamal RIYADH (Reuters) – OPEC could extend its oil supply-reduction pact with non-members or even apply deeper cuts from July if global crude inventories fail to drop to a targeted level, OPEC sources said. The group, together with Russia and other non-OPEC oil producers, agreed late last…

Bangladesh: BSC inks MoU for two 40,000-cbm LNG carriers

Rate this article By LNG World News The Bangladesh Shipping Corporation inked a deal with the Chinese Institute of Marine and Offshore Engineering for the construction of two 40,000-cbm LNG carriers. According to the memorandum of understanding the two vessels will serve the country’s first LNG import terminal at Moheshkali, owned by Petrobangla, Bangladesh Sangbad…

Ocean Yield, Ezra in new ‘Lewek Connector’ charter

Rate this article By Offshore Energy Today Ocean Yield will charter its Lewek Connector subsea vessel to Singapore’s Ezra, under newly agreed terms. The move comes just a few days after the owner had terminated the charter for the vessel it had with Ezra’s cash-strapped subsidiary Emas AMC. For background, Emas AMC in December 2016,…