Daily Archives: August 24, 2017

BP’s Shah Deniz SCV completes sea trials ahead of delivery

By Offshore Energy Today.. Azerbaijan’s Baku Shipyard has completed sea trials for the subsea construction vessel (SCV) Khankendi, which is being built under BP-operated Shah Deniz Stage 2 Project in the Caspian Sea. The vessel has been specifically designed and built to install subsea structures of the giant Shah Deniz Stage 2 gas development project….

Hoegh LNG Partners posts revenue rise

By LNG World News Image: Höegh LNG PartnersHöegh LNG Partners, the Bermuda-based limited partnership formed by Norway’s floating giant Höegh LNG, reported a 54 percent rise in its revenue for the second quarter of this year. The MLP’s time charter revenues rose to $35 million for the second quarter of this year compared to $22.8…

Skangas to fuel ESL Shipping’s LNG duo

By LNG World News LNG supplier and terminal operator, Skangas, a Gasum company, signed a deal with ESL shipping to supply fuel for the latter’s LNG-fueled newbuildings. The two new vessels will start operating during the first half of 2018, with the first vessel already named Viikki in June this year. Kimmo Rahkamo, CEO of…

Chevron lining up Watson replacement?

By Offshore Energy Today Chevron CEO John Watson is reportedly set to be replaced at a board meeting next month, according to the media reports. The news was first reported this week by The Wall Street Journal. Also, Financial Times has, citing a person familiar with the matter, reported that Watson, 60, could be replaced…

CNOOC turns to profit on higher realized prices

By LNG World News Image courtesy of CNOOCChina’s oil and gas producer and LNG stakeholder, CNOOC reported a rise in profit for the first six months of 2017. The profit for the period reached 16.25 billion Chinese yuan ($2.43 billion) as the company cut its production costs by 9 percent to $31.74/boe during the period….

Higher oil & gas revenues take Chinese producer back to black

By Offshore Energy Today.. China’s oil and gas producer CNOOC Limited has returned to profit in the first half of the year pushed up by 36% increase in oil and gas sales revenues, higher oil prices and further cost-cutting efforts. The company’s net production of oil and gas during the period amounted to 237.9 million…

KrisEnergy COO takes on chief executive role

By _Offshore_Energy_Today_ KrisEnergy, an oil and gas company focused on operations in Southeast Asia, has promoted its chief operating officer and president of the company’s Cambodian ops to the chief executive officer role. KrisEnergy said on Thursday that the company appointed Kelvin Tang to the position of CEO. The COO and president of the company’s…