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Wärtsilä supplies 161 MW Flexicycle power plant to Saudi Arabia

June 28, 2016

Wärtsilä has signed a major contract to supply a 161 MW Flexicycle (combined cycle) power plant to Yamama Cement Company in Saudi Arabia. Wärtsilä will deliver a full EPC (Engineering, Procurement & Construction) project. In addition to the EPC contract, a 5-year operation and maintenance management agreement and a 10-year spare parts supply agreement have… Continue Reading »

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Woodside to Supply LNG to Pertamina for 15-20 Years

April 14, 2016

Australia’s Woodside Petroleum Ltd. reported Wednesday that its unit Woodside Energy Trading Singapore Pte Ltd. has signed a Heads of Agreement (HOA) with Indonesia’s national oil company PT Pertamina (Persero) to supply approximately 0.5 to 1.0 million tons of liquefied natural gas (LNG) a year from the firm’s LNG portfolio for a period of 15… Continue Reading »

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TRIAXYS Wave Buoys for Rampion OWF

March 18, 2016

AXYS Technologies’ three TRIAXYS Wave & Current Buoys were selected by Partrac as part of their recent metocean support services contract for the Rampion Offshore Wind farm. Partrac has been contracted to manage the supply, deployment, maintenance and delivery of metocean monitoring buoys throughout the wind farm’s construction phase. “AXYS is very pleased to be supplying… Continue Reading »

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Tekmar’s CPS for DONG Energy’s Race Bank OWF

March 12, 2016

Subsea cable protection specialist, Tekmar Energy won a contract with DONG Energy to supply 189 cable protection systems (CPS) on its Race Bank offshore wind farm in North Norfolk. Tekmar will provide its TekLink mechanical latch system complete with the array and export cables and bellmouths. The CPS systems will be delivered from the company’s manufacturing… Continue Reading »

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Petrobras Gets $10B Chinese Loan In Oil Supply Deal

March 1, 2016

Petroleo Brasileiro SA secured a $10 billion loan from the China Development Bank as the beleaguered state-owned oil producer endures the worst crude market in a generation and faces more than double that amount in maturities over the next two years. The lifeline is part of a deal to supply crude to the Asian country,… Continue Reading »

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Siemens Secures Order for COBRA HVDC Link

February 3, 2016

Siemens has been awarded an order to supply a link between the Dutch and Danish power grids. The customers are Danish Energinet.dk and its Dutch counterpart TenneT TSO. The “COBRA cable” high-voltage direct-current (HVDC) link will enhance power supply reliability in both countries and promote the integration of renewable energy sources into the power grid…. Continue Reading »

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Iran Orders Oil Output Boost, UAE Sees Market ‘Harm’

January 20, 2016

Iran has ordered a rise in oil output by 500,000 barrels a day following the lifting of sanctions, official media reported, but fellow OPEC member the United Arab Emirates said any extra crude would delay the market’s recovery. Iranian officials have said repeatedly in recent days that they were ready to raise output by half… Continue Reading »

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OPEC Crude Production Steady in December After Vienna Meeting

January 2, 2016

OPEC crude output was steady this month as the 12-member group abandoned its usual production target. The Organization of Petroleum Exporting Countries increased production by 18,000 barrels to 32.139 million a day this month, according to a Bloomberg survey of oil companies, producers and analysts.  OPEC set aside its output target of 30 million barrels a… Continue Reading »

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OPEC’s Market Share To Shrink By 2020 As Rivals Keep Pumping

December 25, 2015

Global demand for OPEC’s crude will be lower in 2020 than next year as supply from rivals proves more resilient than expected, potentially fuelling a debate on the merits of its strategy to let prices fall to hurt other producers. The Organization of the Petroleum Exporting Countries, which a year ago refused to cut supply… Continue Reading »

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OPEC Rivals Become Unwitting Allies in Push for Oil-Market Share

December 2, 2015

Almost by accident, OPEC adversaries Saudi Arabia and Iran are about to work as a team. When the Saudi kingdom decided last year that OPEC should keep pumping to counter a surge in U.S. shale oil, Iran spearheaded resistance to the idea, saying output cuts were needed to buoy prices. Still a critic, Iran is nonetheless… Continue Reading »

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