A Swiss court has rejected an appeal by Egyptian energy companies after a French court last year ordered them to pay $2 billion in compensation to state-owned Israel Electric Corp (IEC), the Israeli utility said. An IEC statement on Friday said that Egyptian Natural Gas (EGAS) and Egyptian General
Australia's conservative government unveiled a radical plan on Thursday to restrict exports of liquefied natural gas (LNG) at times when domestic shortages push up local prices, aiming to ease soaring energy costs for local manufacturers. The plan would allow Australia's resources minister to impose
National Ocean Industries Association president Randall Luthi weighs in on President Trump’s Executive Order on offshore energy. It’s a new day and a new attitude for American energy. The National Ocean Industries Association (NOIA) applauds President Donald Trump’s Executive Order recognizing the
Oil tanker firm Frontline said on Friday the high court in the Marshall Islands has agreed to hear on May 17 its complaint against takeover target DHT Holdings, which is incorporated in the remote Pacific republic, over a rival deal with BW Offshore. Frontline, controlled by Norwegian-born billionaire John Fredriksen and owner of a 14.
The world's biggest container shipping company Maersk Line will pay 3.7 billion euros ($4.02 billion) for its acquisition of smaller German rival Hamburg Sud, it said on Friday. Combined, the two companies will be able to realise annual operational savings of about $350 million to $400 million,
Companies can use IWTP state grants to cover costs of OSVDPA assessments The Louisiana Workforce Commission (LWC) has approved use of Incumbent Worker Training Program (IWTP) grants to cover the cost of Offshore Service Vessel Dynamic Positioning Authority, Inc. (OSVDPA) Phase 4 Assessments. “It’s
Nigeria's upper house of parliament aims to pass the country's long delayed oil reform bill before the end of the year, Senate Committee Chairman on Petroleum Upstream, Tayo Alasoadura said on Thursday. The legislation is part of proposed reforms that make up the sprawling Petroleum Industry Bill,
U.S. power company FirstEnergy Corp agreed to pay $109 million to settle a legal dispute with two railroads concerning a long-term coal transportation contract, the Ohio based company said in a federal filing on Wednesday. FirstEnergy said its FirstEnergy Generation unit would pay CSX Corp's CSX
John Fredriksen's Frontline is switching its legal battle for control of tanker operator DHT Holdings from New York to the tiny Marshall Islands after making a fifth offer for the company this week. Frontline, controlled by Norwegian billionaire Fredriksen and owner of a 14.5 percent stake in DHT,
BP has agreed to sell its 50 percent stake in the Shanghai SECCO Petrochemical Company to a subsidiary of its joint venture partner Sinopec for $1.68 billion, the British oil major said. The sale represents BP's first major divestment of a year in which it expects to sell assets worth between $4.
A 31-year-old Somali man was sentenced to life in prison on Wednesday for engaging in piracy and other offenses in connection with an attack on a U.S. Navy ship seven years ago, the U.S. Justice Department said. Mohamed Farah, 31, of Somalia was sentenced on Wednesday to life in prison for his role in the attack,
Bryan Day, executive director of the Little Rock Port Authority, weighs in on President Donald Trump’s proposed infrastructure plan, calling for U.S. policymakers to consider inland waterways and ports in America’s infrastructure plan. President Donald Trump and members of Congress continue to
U.S. President Donald Trump signed an executive order on Wednesday requiring a review of national monuments which he said was aimed at ending an "egregious abuse of federal power." At a ceremony at the Department of the Interior, Trump said people's ability to access and utilize land must be protected,
The U.S. Department of Energy announced that it has signed an order authorizing Golden Pass Products LLC to export domestically produced liquefied natural gas (LNG) to countries that do not have a free trade agreement (FTA) with the United States. Golden Pass is authorized to export LNG up to the equivalent of 2.