Releases
Announcements, partnerships, and product updates from Blackwell.
Industry News
Headlines from across the maritime and offshore energy industry.
LNG Bunker Vessel Shortage Could Stall Fuel Transition by 2030
DNV says the LNG bunker fleet may need to more than double to between 165 and 208 vessels by 2030 as fuel demand grows faster than delivery capacity.
Source: Offshore Source
Brent crude rises above $100 a barrel as Middle East conflict escalates
Brent crude climbed above $100 a barrel for the first time since July 24 as renewed fighting raised concern over Middle East oil flows. The benchmark reached $100.07 while West Texas Intermediate rose to $94.73.
Source: Reuters
Panama Canal may cut ship traffic further as El Niño strengthens
Panama Canal authorities may cut daily ship transits again if El Niño deepens the drought, after reducing capacity from 36 to 34 ships on September 4 and scheduling a further cut to 32 on September 15.
Source: Al Jazeera
McDermott wins first Eni subsea contract for Cyprus gas project
McDermott secured a contract worth $500 million to $750 million for the Cronos gas development operated by Eni offshore Cyprus. The four well project is expected to supply about 500 million cubic feet per day from 2028 through existing Egyptian processing and LNG export facilities.
Source: Offshore Energy
Pakistan issues fresh spot LNG cargo tender
Pakistan LNG is seeking a 140,000 cubic metre spot cargo for delivery from September 12 to 16 after rejecting two earlier tenders on price. Its latest rejected offer was 26.71 dollars per million British thermal units, 22 percent above a late July purchase.
Source: LNG Prime
ExxonMobil to take operatorship of Papua LNG as $14 billion project nears FID
ExxonMobil will take over Papua LNG as TotalEnergies cuts its stake to 20 percent and the partners push the 5.6 million tonne a year project toward a final investment decision after reducing expected capital spending by nearly $4 billion to about $14 billion.
Source: World Oil
Dorian adds financing firepower after confirming Hanwha VLGC trio
Dorian LPG secured $368.4 million of seven year financing and confirmed a $345 million order for three 90,000 cubic metre very large gas carriers from Hanwha Ocean, funding a fleet renewal programme backed by more than $340 million from four vessel sales.
Source: Splash247
Petronas secure drillship for ultra deepwater wildcat offshore Indonesia
Petronas has hired the Deep Value Driller for a one well campaign offshore Indonesia under a contract worth about USD 58 million, including provisional sums. The seventh generation drillship will drill the Redha 1 wildcat on the Bobara block, where TotalEnergies and Pertamina each hold 24.5 percent.
Source: Upstream
Russia's Giant Vostok Oil Loads First Crude on Arctic Tanker
Rosneft's Vostok Oil loaded its first crude cargo onto the ice class tanker Valentin Pikul at the new Sever Bay terminal, opening an Arctic export route through the Northern Sea Route.
Source: Bloomberg
EnQuest Trims Losses
EnQuest reduced its first half net loss to 24.83 million dollars as production rose 9 percent to 41,544 barrels of oil equivalent a day. Adjusted free cash flow more than doubled to 71.3 million dollars despite an outage at its Magnus field.
Source: Rigzone
TotalEnergies takes operatorship of Namibia's Mopane discovery, targets 2028 FID
TotalEnergies has completed a transaction with Galp that gives it a 40% operated interest in Namibia's PEL83 licence and the Mopane oil discovery. The partners plan three appraisal wells before a possible final investment decision in 2028.
Source: Offshore Magazine
First US LNG cargo puts Equinor on course to double global portfolio by 2030
Equinor has lifted its first US LNG cargo from Cheniere's Sabine Pass terminal, starting supply under 15 year agreements that will provide about 3.5 million tons a year and support plans to double its global LNG portfolio by 2030.
Source: Offshore Energy