Daily Archives: April 26, 2016

Saudi Arabia seeks to lower oil dependence

Reduced dependence by Saudi Arabia on revenue from oil is among targets of sweeping economic reform outlined Apr. 25 by Deputy Crown Prince Mohammad bin Salman. Read Full Article Here For more great articles: Oil & Gas Journal – General Interest

PHOTO: Henry Goodrich drilling rig reaches Canadian waters

By Offshore Energy Today Transocean’s Henry Goodrich semi-submersible drilling rig has reached Canadian waters, following the trans-Atlantic journey from Norway. The image shows the yellow drilling giant reaching Grand Banks, off Newfoundland, Canada, with the the ALP Winger on bridle and the Maersk Detector and Maersk Dispatcher tugs alongside. According to info shared by Gordon…

Lukoil makes step forward with Caspian oil project

By Offshore Energy Today Russian oil company Lukoil has moved a step forward in the development of its Caspian Sea oil project. Namely, Russia’s largest privately held oil company has started driving in marine risers into Vladimir Filanovsky offshore oil field, located 50 kilometers offshore, in the Russian section of the Caspian Sea. In an…

Flex LNG amends loan with Metrogas

By LNG World News Flex LNG, the company controlled by billionaire John Fredriksen, said it has agreed amended terms with Metrogas Holdings, an affiliate of Geveran Trading, to extend the working capital loan entered into in 2014. The additional working capital will help Flex LNG to operate until delivery of its two LNG carriers currently…

BP gets lifeline for Ula pipeline

By Offshore Energy Today.. British oil giant BP has received consent from the Petroleum Safety Authority (PSA) to extend the operating life of the Ula oil export pipeline located offshore Norway. The offshore safety authority has now given BP consent to operate the pipeline until the production licence expires on December 31, 2028. The Ula…

Creditors terminate Harkand’s DSV charters

By Offshore Energy Today Nordic Trustee, acting as a bond trustee for a bond issued by Harkand Finance, has exercised its right to terminate charters for two Harkand’s vessels. In a filing on Oslo Bors on Tuesday, Nordic Trustee said that the Bond Trustee has exercised its right to terminate the internal bareboat charters for…