Daily Archives: April 26, 2017

Bechtel names new group chairman

Rate this article By LNG World News Brendan Bechtel (Image courtesy of Becthel)LNG-engineer Bechtel on Wednesday said its chief executive officer Brendan Bechtel has been unanimously named chairman of Bechtel Group (BGI). He succeeds Riley Bechtel who served as CEO from 1990 to 2014 and BGI Chairman since 1996. He will now serve as a…

Shell brings Bonga field back online

Rate this article By Offshore Energy Today After several weeks of maintenance, Shell has resumed production from its Bonga field offshore Nigeria. The oil giant confirmed this to Offshore Energy Today in an email on Wednesday, saying the planned turnaround maintenance has completed and the output from the offshore field has resumed. Shell said the…

BP to bring ‘West Capricorn’ back in operation

Rate this article By _Offshore_Energy_Today_ Offshore deepwater drilling contractor Seadrill has received notification from British oil giant BP to begin preparations to return the West Capricorn semi-submersible drilling rig back in operation. The 2011-built West Capricorn rig is under a long-term contract with the UK oil major operating in the U.S. Gulf of Mexico. Seadrill…

Hess cuts losses helped by higher oil prices

Rate this article By Offshore Energy Today.. Independent oil and gas company Hess Corporation narrowed its loss and increased revenues during the first quarter of 2017 helped by higher oil prices. The oil company on Wednesday reported a net loss of $324 million in the first quarter of 2017 compared with a net loss of…

Seadrill rids itself of Archer guarantees

Rate this article By Offshore Energy Today Offshore driller Seadrill has closed a deal with oilfield services firm Archer to extinguish $253 million in financial guarantees provided by Seadrill. The scrapping of the guarantees comes in exchange for a cash payment of approximately $25 million. Seadrill said on Wednesday it remained in “constructive discussions” with…

Baltic Exchange in LNG move

Rate this article By LNG World News Image: Baltic ExchangeThe Baltic Exchange said on Wednesday it aims to move into the LNG and container spaces as part of plans to boost its role in the maritime industry. The Baltic Exchange, along with its parent company the Singapore Exchange, plans to develop a freight LNG index…

Novatek’s profit drops as revenue climbs

Rate this article By LNG World News Novatek of Russia on Wednesday reported a 38.7 percent drop in profit for the first quarter of 2017 due to the foreign exchange effect and the effect of the disposals of interests in joint ventures. First quarter net profit reached RR 71.0 billion (US$1.25 billion) as compared to…