Malaysian energy giant Petronas posted a loss for the nine months of 2020. Courtesy of Petronas The company reported a loss after tax of 19.9 billion Malaysian Ringgit ($4.89 billion), mainly due to impairment loss on assets and lower earnings before interest, tax, depreciation and amortization (EBITDA). To note, Petronas
Classification society DNV GL has suspended work on Gazprom’s Nord Stream 2 gas pipeline project over fears of sanctions by the United States. The United States want to stop the project as it fears the pipeline would strengthen Russia’s economic and political influence over Europe. The United States also has
South Korea’s Kogas has performed the first ship-to-ship LNG loading verification test. Jeju LNG 2 delivering test volumes to Global Star LNG tanker (Courtesy of Kogas) In its statement on Thursday, Kogas said it deployed the Jeju LNG 2 vessel to supply volumes. The STS LNG operation was completed at
Korea Shipbuilding & Offshore Engineering (KSOE) has secured an Approval in Principle for its Solid Oxide Fuel Cell (SOFC) power generation system design from the DNV GL classification society. The presentation ceremony was held at the KSOE office in Ulsan, South Korea on November 23. In the power generation system,
LNG Easy, a unit of LNG Easy Singapore, is eyeing the development of Pakistan’s first-ever virtual LNG pipeline. Courtesy of LNG Easy LNG Easy said in its statement that it has signed a memorandum of understanding with Karachi Port, Pakistan Railways and an international oil company. Under the memorandum of
Marine biofuels supplier GoodFuels has been selected by car manufacturer Volkswagen Group to supply biofuel oil (MR1-100 or BFO) for the group’s shipments. The move is said to represent another major step for sustainable shipping in the car carrier segment. As informed, the Depth RoRo carrier Patara was bunkered with 100% GoodFuels’
LNG giant Shell could be gearing up to restart production from its Prelude FLNG facility offshore Western Australia. LNG carrier Galina delivering initial cooldown cargo to Prelude FLNG (Courtesy of Shell) The FLNG unit has been offline since February due to an electrical trip. However, the AIS data provided by
Enterprize Energy and Tractebel Overdick have signed a Memorandum of Understanding to work together on delivering Enterprize Energy’s Energy Plus concept, which encompasses offshore wind, hydrogen and ammonia production technologies in a single platform. The cooperation will see the companies building the prototype of the Energy Plus platform, which is based
Emerging Africa Infrastructure Fund (EAIF) said it has sanctioned a $31 million loan with a 10-year term to Access LNG, for the Tema LNG project. Tema LNG project rendering (Courtesy of Helios Investment Partners) EAIF said in its statement the project partners have reached the financial close for the project
DFDS and its partners have applied for EU support for the development of a ferry powered by electricity from a hydrogen fuel cell system. The partnership includes DFDS, ABB, Ballard Power Systems Europe, Hexagon Purus, Lloyd’s Register, KNUD E. HANSEN, Ørsted and Danish Ship Finance. DFDS said that the ferry