Oil major BP reported a significant decline in its quarterly profit due to lower prices and the destruction of oil demand by the coronavirus crisis. BP on Tuesday posted an underlying replacement cost profit for the first quarter of $0.8 billion, compared with $2.4 billion for the same period a
Liquefied natural gas terminals on the shores of the United Kingdom’s Milford Haven waterway have booked the first May cargoes. Milford Haven Port Authority shipping data shows that the Q-Max LNG carrier Shagra is heading for South Hook LNG terminal. The vessel capable of transporting up to 266,000 cubic meters
Indonesia’s state power company PT Perusahaan Listrik Negara has reportedly cancelled two shipments of liquefied natural gas from the BP-operated Tangguh plant. The cargoes of around 213 billion British thermal units per day were for May delivery, Reuters reported on Tuesday citing Arief Setiawan Handoko, a deputy at oil and
Venture Global LNG has lifted the roof on the first LNG storage tank at its Calcasieu Pass LNG export facility in Cameron Parish, Louisiana. Image courtesy of Venture Global LNG The contractor completed the milestone on schedule some eight months after the project’s final investment decision the company said in
Japan’s classification society ClassNK has granted an Approval in Principle (AiP) to Imabari Shipbuilding Co. for the concept design of a 180,000 DWT LPG dual-fuelled bulk carrier developed in cooperation with Mitsubishi Shipbuilding Co. This was the first LPG dual-fuelled bulk carrier in the world to be granted an AiP,
KN, the operator of the Lithuanian liquefied natural gas (LNG) terminal, launched the LNG terminal capacity allocation procedure for the gas year starting October 1, 2020. Illustration purposes only (Image courtesy of Klaipedos Nafta) “For the second year in a row, we have recorded extremely high-performance results of the LNG
Chinese shipbuilder Nantong CIMC Sinopacific Offshore & Engineering has won an order to build liquefied petroleum tankers for Germany’s Hartmann Group. Image courtesy of CIMC Sinopacific Offshore & Engineering The contract includes the construction of three 5000 cubic meter LPG ships and additional order for two vessels. CIMC SOE, which
Poland’s dominant gas firm PGNiG claims that Russian giant Gazprom has not reduced gas prices despite a court ruling last month. The arbitration tribunal in Stockholm ruled in March that Gazprom must pay PGNiG about $1.5 billion in a pricing dispute case. The court also ruled that a gas pricing
The transition of the global shipping industry to fuels compliant with the IMO 2020 sulphur cap seems to be running smoothly with marginal non-compliance issues. According to the Port of Singapore, the world’s largest bunker hub and one of the largest trading hubs in the world, about 96% of the
A joint venture consisting of Chinese shipowner Cosco and energy giant CNPC is to order three liquefied natural gas carriers at Hudong Zhonghua Shipbuilding. The price for each of the 174,000 cubic meter LNG carriers is $185 million, according to a statement by Cosco Shipping Energy Transportation. The vessels will
Uniper’s unit Liqvis has opened its second permanent liquefied natural gas (LNG) filling station in Kassel. It is the first such facility in Grünheide near Berlin. The facility replaces the mobile station that has been stationed in Kassel up until now. Liqvis is planning to relocate this now-superfluous mobile filling
The United States Department of Energy informs it has received Epcilon LNG’s application seeking long-term natural gas export permit. Image courtesy of Amigo LNG Epcilon LNG is looking to export up to 395 billion cubic feet of domestically produced natural gas per year (7.9 mtpa) to Mexico. The company intends