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Energy

Wood Group Bags Alexandroupolis FEED

Bob MacDonald, CEO of Wood Group’s Specialist Technical Solutions business. Photo: Wood Group

 Wood Group has secured a new front end engineering design (FEED) contract with Gastrade S.A. for the Alexandroupolis Independent Natural Gas System (INGS) offshore Greece.   The project, to develop a floating liquefied natural gas (LNG) receiving, storage and regasification unit (FSRU), will create

US Shale Producers Say Spending Flexibility Is Key

© denismax / Adobe Stock

U.S. shale oil producers plan to keep drilling new wells despite this month's crude price drop but expect to revisit spending should pricing remain below $45 a barrel for several months.   "We will not drill into oblivion," Tim Dove, chief executive of Pioneer Natural Resources Co, told investors on Tuesday at a J.

US Shale CEO Sees Saudi Arabia Moving to Lift Oil Prices

Saudi Arabia likely will move to boost oil prices after a recent drop in order to prop its own national finances, the chief executive of U.S. shale oil producer Pioneer Natural Resources Co said on Tuesday.   Oil prices have tumbled in recent weeks despite moves by Saudi Arabia and other members of

Wind Power's Big Bet: Colossal Turbines

File photo: DONG Energy

Wind farm operators are betting on a new generation of colossal turbines, which will dwarf many skyscrapers, as they seek to remain profitable after European countries phase out subsidies that have defined the green industry since the 1990s.   The world's three leading offshore wind operators - DONG Energy,

GeoSea Bags Offshore Wind Installation Work from EnBW

 DEME Group’s offshore marine engineering subsidiary GeoSea said that, following successful completion of the design, it also received the Notice to Proceed for fabrication and offshore installation of 16 wind turbine foundations and 1 Offshore Transformer Module (OTM) for the EnBW Albatros offshore wind farm,

Aegean Marine Strengthens Presence on the U.S. East Coast

Photo: Aegean Marine Petroleum Network Inc.

 Aegean Marine Petroleum Network has announced the launch of a new service center in Savannah, Georgia, the third largest container port in the United States.       The operations in Savannah will be managed by the existing Aegean U.S. team.  Under the terms of the agreement with Colonial Terminals, Inc.

Mexico's Pemex Sees Restart of Salina Cruz Refinery

Photo: Petróleos Mexicanos

 Mexican state oil producer Pemex said on Thursday that it expects to restart operations on July 30 at Salina Cruz, its largest oil refinery, after it was hit last week hit by flooding and subsequent fire that forced a shutdown of the plant.   The program contemplates three-way actions: Restarting

YPF Says Technology Lowering Its Shale Costs

Longer horizontal wells and technology improvements will help Argentine state-run oil company YPF SA lower costs at its most productive shale field, but better infrastructure is still needed in the remote Vaca Muerta play, an executive said.   The breakeven price at the Loma Campana field is $43 per

US Oil Rig Count Climbs for 23rd Week

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U.S. energy firms added oil rigs for a record 23rd week in a row, extending a year-long drilling recovery as producers boost spending on expectations crude prices will rise in future months despite this week's decline to a 10-month low.   Drillers added 11 oil rigs in the week to June 23, bringing the total count up to 758,

Novatek Aims to Topple Qatar from LNG Top Spot

File photo: Novatek

Russian gas producer Novatek aims to topple Qatar as the world's biggest exporter of liquefied natural gas as it gets closer to completing its first LNG project, a top executive said, batting away concerns about U.S. sanctions on the sector.   The country's largest non-state gas producer is expected

KOGAS to Receive first Cheniere LNG Cargo

File Image: A typical LNG Carrier at Sea (CREDIT: MISC)

KOGAS to receive first LNG cargo from Cheniere in July; this marks start of 20-year supply contract.   Korea Gas Corp (KOGAS) will early next month receive its first liquefied natural gas (LNG) cargo under a long-term supply deal with U.S. exporter Cheniere Energy, two sources at the South Korean company said on Friday.

India's LNG Market to Reach USD 30.7bln by 2025

Image: Petronet LNG Limited

 India Natural Gas and LNG market is expected to grow from US$ 19.7 billion in 2015 to US$ 30.7 billion by 2025 at a CAGR of 5.06% between 2016 and 2025.    According to a report by Research and Markets, natural gas including Regasified Liquefied Natural Gas (R-LNG) in India has been widely recognized as the fuel with multiple promising aspects.

Demand to Ship Gasoline on Top US Pipeline at 6-yr Low

© Roger Asbury / Adobe Stock

The operator of the biggest U.S. fuel pipeline system said on Thursday demand to transport gasoline to the country's populous northeast is the weakest in six years, the latest symptom of a global oil market grappling with oversupply.   Summer is typically when gasoline demand peaks in the world's

Gazprom Says Poland Gas Supply Issue Resolved

Russia's Gazprom said on Thursday a technical issue that caused poor quality gas to be delivered to Poland via the Yamal pipeline had been resolved.   Poland on Wednesday temporarily halted gas deliveries from Russia via the pipeline due to poor quality of the gas.   "From this afternoon on, the

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