Daily Archives: July 15, 2020

Nakilat logs 15.5 percent profit rise

Rate this article By Mirza Duran Qatar’s Nakilat, the world’s largest LNG shipper, reported a 15.5 percent rise in first-half profit as it reduced administrative costs and purchased stakes in four vessels. Q-Max LNG carrier Mozah (Image: Nakilat) The Qatari LNG shipping giant posted a net profit of 550 million riyals ($151 million) compared to…

Number of oil and gas wells set to hit 20-year low, Rystad says

Rate this article By Nermina Kulovic The COVID-19 pandemic has stymied oil and gas activity, a phenomenon which has now affected the drilling market both in terms of wells drilled and in terms of related demand for drilling equipment…. … Read Full Article Here For more great articles: Offshore Energy Today

Woodside’s revenues sink despite record output

Rate this article By Nermina Kulovic Australian energy giant Woodside saw its quarterly revenues drop despite record-high output in the second quarter of 2020 affected by low oil price environment. The post Woodside’s revenues… … Read Full Article Here For more great articles: Offshore Energy Today

All eyes on OPEC meeting with production cuts on the agenda

Rate this article By Bojan Lepic OPEC, Russia, and other oil producers are set to meet on Wednesday to decide on the oil output policy from August onward. The post All eyes on OPEC meeting with production cuts on the agenda… … Read Full Article Here For more great articles: Offshore Energy Today

Hoyer Group boosts its LNG business

Rate this article By Adnan Bajic German logistics services provider Hoyer Group is expanding its liquefied natural gas (LNG) transport business footprint. Courtesy of Hoyer Group The market for alternative energies is growing rapidly worldwide. This trend has prompted the Hoyer Group to take the step further. The company noted in its statement that LNG…

BW sells old LPG vessel

Rate this article By Mirza Duran BW LPG, a unit of the Singapore gas shipping giant BW, has sold its old carrier Berge Summit to an unidentified owner for continued trading. Image: BW LPG The LPG shipper says the sale would generate about $9 million in liquidity and an expected net book gain of $4…