Daily Archives: July 26, 2017

Seadrill gets a one-month breather from creditors

By Offshore Energy Today Seadrill, a cash-strapped offshore driller, has been given some breathing space in an effort to restructure its reported $14 billion debt. The company, which has been in talks with creditors for months, on Wednesday said it had reached an agreement with its bank group to extend the comprehensive restructuring plan negotiating…

Tullow starts shooting seismic near Exxon’s Liza discovery

By Offshore Energy Today.. London-based independent oil player Tullow Oil has started a 2,550 km2 seismic survey on the Orinduik Block offshore Guyana. Tullow is the operator of the block with a 60 percent stake and Eco Atlantic is its partner with the remaining 40 percent interest. The survey was approved by the partners last…

VIDEO: Culzean jigsaw falling into place

By _Offshore_Energy_Today_ Danish oil company Maersk Oil has posted a new video on its YouTube channel, showing the completion and installation of the jackets for the central processing facility (CPF) platform and the utilities and living quarters (ULQ) platform on the Culzean field in the UK North Sea. Less than two years after the project…

Fluxys LNG to build second truck loading station at Zeebrugge

By LNG World News Image courtesy of FluxysFluxys LNG decided to build the second truck loading station at it Zeebrugge LNG terminal as a response to a rising demand. The company has reached a final investment decision, saying the expansion will enable it to “keep waiting times to a minimum and bolster its position as…

Novatek’s second-quarter profit slides

By LNG World News Image courtesy of NovatekRussia’s Novatek, the developer of the Yamal LNG project, reported a plunge in profit during the second quarter this year. The company’s net profit for the period reached RR 3.23 billion ($50.2 million) during the second quarter this year, dropping 92.9 percent compared to the corresponding period last…

Hess sinks deeper in the red

By Offshore Energy Today.. Independent energy company Hess Corporation recorded a bigger loss for this year’s second quarter compared to the one in the prior-year quarter. Hess on Wednesday reported a net loss of $449 million for the second quarter of 2017 compared with a net loss of $392 million in the second quarter of…

Gas Natural Fenosa’s H1 profit slides

By LNG World News Image courtesy of Gas Natural FenosaSpanish LNG operator Gas Natural Fenosa reported a €550 million ($640.4 million) profit for the first six months of 2017, 14.7 percent lower than in the first half of 2016. The company invested €737 million in capital expenditure and intangible assets, a 17.2 percent increase on…

Samskip acquires Nor Lines, gets hold of two LNG-fueled freighters

By LNG World News Image courtesy of Nor LinesRotterdam-based logistics company Samskip has added two LNG-fueled vessels to its fleet following the agreement with the DSD Group to acquire the activities of Nor Lines. The transaction includes terminal activities in Norway, warehousing and haulage services, while five out of seven multi-purpose vessels will be transferred…