Tagged Crude Oil

Gasum, Equinor extend LNG bunkering deal to ARA region

By Adnan Bajic The Nordic energy company Gasum has extended its LNG bunkering services to the ARA region with its new deal with Equinor. Courtesy of Gasum Under the agreement, the company will deliver LNG bunkers to Equinor in Amsterdam, Rotterdam and Antwerp. The two companies have been co-operating on various projects and LNG supply…

Total charters LNG-fueled Aframax quartet

By Adnan Bajic In its bid to reduce greenhouse gas emissions in maritime transportation, Total has chartered four LNG-fueled Aframax-type vessels. Courtesy of Total The company said on Wednesday the vessels, each with a capacity of 110,000 tons of crude oil or refined products, will be delivered in 2023 and will join the time-chartered fleet…

Jadestone sets up new offtake model for Stag crude oil

By Nermina Kulovic Jadestone Energy has set up a new offtake arrangement for the Stag oil field following Altera’s decision to retire the FSO Dampier Spirit. The post Jadestone sets up new offtake model for Stag crude… … Read Full Article Here For more great articles: Offshore Energy Today

SOCAR bids lowest in Pakistan LNG tender

By Adnan Bajic State-owned Pakistan LNG noted that Azerbaijan’s SOCAR placed the lowest bid to supply a spot LNG cargo in late August. Courtesy of Pakistan LNG Pakistan LNG said that SOCAR’s bid came in at 5.74 per cent of Brent crude oil prices, which is approximately $2.2 per mmBtu. The company sought one cargo…

Poland’s PGNiG profit hit by impairments

By Mirza Duran Poland’s dominant gas firm and LNG importer PGNiG reported a 29 per cent lower net profit in the first quarter, hit by impairments. Swinoujscie LNG terminal (Image: PGNiG) Quarterly net profit stood at 779 million Zlotys ($196m) when compared to 1.1 billion Zlotys in the January-March period last year. Revenue also declined…

COVID-19 effects push Novatek into red

By Adnan Bajic Russia’s largest private natural gas producer and LNG player Novatek slipped into red under the COVID-19 impacts. Image courtesy of Novatek Novatek reported a net loss of ₽30.7 billion ($416.8 million) in the first quarter of the year. This compares to a profit of ₽381.8 billion ($5.2 billion) reported in the first…

Tokyo Gas flags $262.7 million impairment loss

By Adnan Bajic Japanese utility, Tokyo Gas revised its results forecast flagging a ¥28.4 billion ($262.7 million) impairment losses for the year ended March 2020. Image courtesy of Tokyo Gas The impairment losses are a result of a re-evaluation of the upstream projects in the United States, Ichthys LNG project in Western Australia amongst others,…

Bahri’s Q1 2020 earnings soar amid higher rates

By Jasmina Ovcina The world’s largest owner and operator of very large crude oil carriers (VLCCs) Bahri […] The post Bahri’s Q1 2020 earnings soar amid higher rates appeared first on Offshore Energy. … Read Full Article Here For more great articles: Offshore Energy Today