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An oil and gas pipeline welding company Pipeline Technique has been bought by a private-equity firm Blue Water Energy (BWE). BWE has bought this Huntly-headquartered company from Dutch business Heerema Marine Contractors (HMC). The exact value of the deal has been kept undisclosed. BWE informed that the management team of Pipeline Technique will be retained.
Oil giant Aramco has given a green signal to buy U.S. liquefied natural gas from Sempra Energy's Port Arthur project in Texas. According to the sources, the terms of the deals are still unclear and it is doubtful if Aramco will take an equity stake in the project. Saudi Aramco has also been looking at the gas assets in Russia, Australia and Africa.
The industry group of Germany, MWV said that presently they are not facing any shortage of gasoline or diesel due to contaminated crude oil on Russia's Druzhba pipeline. But the company has warned of future challenges if improvements do not occur. Pertaining to the above reason, Russia temporarily stopped the oil flows last month which resulted in the rise in global prices.
In order to cut the sector's emission, the International Maritime Organization (IMO) has decided to make stricter energy efficiency targets for certain types of ships. IMO's Marine Environment Protection Committee will conduct a meeting in London this week. The agenda of the meeting will be to discuss tougher rules on sulphur emissions and other long-term measures to reduce greenhouse gas emissions by 50% from 2008 levels by 2050.
Baltic LNG project of Gazprom is under progress and the Russian gas producer was looking for advanced technology to be used in it. Now, the firm has decided to go with the technology made by Linde or Royal Dutch Shell. "We've looked at the efficiency of both technologies and they basically have the same indicators in terms of workability. The rest is a question of negotiation", said Gazprom's board member.
Saudi Aramco has raised a concern that its oil infrastructure sites have been targeted and at least one has been attacked by drone strikes. One of Aramco's pumping station on the Red Sea was targeted by drones due to which fire broke out along the pipeline. The energy supermajor has temporarily halted pumping petroleum through the pipeline until the completion of the inspection.
E&P major, Anadarko has entered into a sales and purchase agreement with Japan’s JERA and Taiwan’s CPC to supply 1.6 MTPA of LNG. Anadarko will deliver the requisite volume from its Mozambique Area 1 project, over a period of 17 years. The Mozambique Area 1 project is operated by Anadarko, where Mitsui E&P, ENH Rovuma Área Um, ONGC Videsh, Beas Rovuma Energy Mozambique, BPRL Ventures Mozambique and PTTEP are partners.
The foreign ministry of UAE informed about the "sabotage operations" on four commercial vessels. The attack occurred near the UAE emirate of Fujairah but did not cause any casualties. Fujairah is one of the largest bunkering hubs situated outside the Strait of Hormuz. Bahrain has described this incident as "a dangerous criminal act". According to the sources, the operations ran smoothly at Fujairah on Sunday.
Rosneft has decided to load an extra oil cargo from the Pacific port of Kozmino on May 30-31. This is apart from what was decided in the initial loading plan. This decision has come amidst the existing Russian oil export problems in Europe. The extra loading will increase the overall exports from Kozmino in May. It will reach an all-time high of 2.94 million tonnes.
According to the sources, the vessel Israfil Huseynov operated by Saipem in the Caspian Sea met with an accident on Wednesday. An explosion occurred on the vessel which was being used for pipelaying for the framework of the Shah Deniz II project. The count of casualties is 14. The accident was due to the maintenance operations on an item of equipment during pipe-laying activities.
After the US exempted all the Iran sanction waivers from the major oil importing countries, Aramco has stepped up to help the nations meet the shortages. According to the sources, the world's largest oil company has offered increased crude oil supplies to India by 200,000 barrels a day (bpd). This will help India meet almost half of its oil imports that were coming from Iran.
Tanker arrival data available with news firm, Reuters has revealed that the Iranian oil imports to India dropped approximately 57% year-on-year in April. New Delhi received about 277,600 barrels per day (bpd) of oil from the Persian country last month, down about 31.5% from March. India was amongst the eight nations who received a six-month waiver from US sanctions introduced in November.
There has been a violent break out with the Gaza militants in Israel. This made the ministry of Israel take a decision to temporarily stop the supply of natural gas from the offshore field Tamar. This might be a problem for the nation because Israel receives its major natural gas supply from Tamar which has its production platform off the coast.
Mitsui’s Intercontinental Terminals Co (ITC) has been alleged with five charges by the Harris County district over the toxic chemical spill in Houston ship channel. The ITC facility in Houston was caught in a fire last month, after which a containment wall rupture leaked toxic chemicals into the Houston ship channel. A statement from the District Attorney read that the water pollution scaled to “criminal levels” during the leak.
Nord Stream 2, Russian-led gas pipeline might save EU about $8 billion annually which is due to the 13% drop in the costs. “If the pipeline is completed by the end of 2019 and is launched in 2020, European families will get access to natural gas at a lower cost price, and will save eight billion euro annually,” said the Nord Stream 2 AG’s press office.
Iran has warned to close Strat of Homuz, a narrow waterway carrying a fifth of the world’s traded oil, in response to end of sanctions waiver. A news agency cited head of the Revolutionary Guard Corps navy force saying “If we are prevented from using it, we will close it,”. Iran’s warning to close the waterway isn’t new, and its officials have threatened to do so in the past too.
ExxonMobil has informed that it has signed a sales and purchase agreement for the supply of Liquified Natural Gas with Zhejiang Provincial Energy Group. The agreement has been signed for 20 years during which Zhejiang Energy is expected to receive 1 million metric tons per annum of LNG. Exxon's senior VP of LNG said, "This sales and purchase agreement provides a solid foundation for our strategic partnership with Zhejiang".
India's Reliance Industries has denied commenting on the reports of its ongoing talks with energy supermajor Saudi Aramco. According to the sources, the company might sell its 25% stakes in refining and petrochemical business to Aramco. It is being believed that the energy giant Aramco was first to show interest in Reliance about four months ago. RIL said, “Our company evaluates various opportunities on an ongoing basis”.