The energy shipping company PAO Sovcomflot (SCF Group) has managed to increase its revenue base and achieved a profit of USD 11.9 million against a USD 106.2 million loss in 2017.The annual results reflected a strong contribution from the industrial…
When at plateau production, Prelude FLNG — the world’s largest floating producer of liquefied natural gas, or LNG — will fill one shipborne cargo every week. As production ramps up from test volumes, there’s the dawning realization of a dramatic shift in LNG markets…
Royal Dutch Shell said on Wednesday it has begun output at its Prelude floating liquefied natural gas (FLNG) facility in Australia, the world's largest floating production structure and the last of a wave of eight LNG projects built in the country over the last decade…
Italian energy contractor Saipem plans to sign a deal this week with Novatek to build offshore platforms for the Russian firm's liquefied natural gas project, Arctic LNG 2, two sources close to talks told Reuters.Novatek aims to produce as much LNG as Qatar…
Russia's largest independent natural gas producer Novatek announced that its wholly owned subsidiary OOO Novatek-Yurkharovneftegas, upon testing of the exploration well PO-1 achieved commercial flows of natural gas from the Lower Cretaceous…
Russia's largest independent natural gas producer PAO Novatek has secured a new exploration license on the Gydan peninsula.The seventh largest publicly traded company globally by natural gas production volume said in a press release that its…
Russia's energy major Rosneft and US ExxonMobil plan to build a liquefied natural gas (LNG) plant in a consortium with Indian and Japanese partners, spreading the estimated $15 billion cost, Reuters reported.The report said that the LNG production…
Novatek said its Arctic LNG 3 unit confirmed the discovery of a new natural gas and gas condensate field at the North-Obskiy license area located in the shallow waters of the Ob Bay.The Yamal LNG operator said in a press statement that its…
The Yamal liquefied natural gas (LNG) liquefaction plant has started production, with the first LNG cargo export scheduled for 8 December. The Christophe de Margerie tanker, named for the former Total CEO…
Despite disappointment at Korpfjell, there’s optimism in the far North. The Christophe de Margerie LNG carrier in icy conditions. Photo from Total. High hopes were pinned on the multi-billion-barrel potential Korpfjell prospect…
One of the most anticipated exploration wells in Europe this year was the multi-billion barrel potential Arctic Korpfjell prospect in the Barents Sea. While the probe, completed late September, didn't prove commercial volumes, the region…
French giant Total will launch 10 upstream projects in the next 18 months, as the company targets a US$3.5 billion costs savings for the year. Image of Total CEO Pouyanné, from Total. In 2017…
While it seems most Arctic exploration activity has slowed, it really depends on where you look. Bruce McMichael reports. Gazprom Neft’s Prirazlomnoye facility, in the Russian Arctic. Photos from Gazprom Neft…
The Russian government is temporarily banning new licenses for offshore field development on the Russian Arctic shelf, the Minister of Natural Resources and Environment Minister Sergei Donskoi has said. The move appears to be aimed at focusing investment on existing development projects…
France’s Total and China’s China National Petroleum Co. (CNPC) signed a strategic cooperation agreement to extend the two companies’ existing collaboration. The agreement was signed on 20 March between Patrick Pouyanné, chairman and CEO of Total…
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