The world's biggest liquefied natural gas (LNG) buyers are clubbing together to secure more flexible supply contracts in a move that further shifts power to buyers rather than producers. Korea Gas Corp (KOGAS) said on Thursday it had signed…
An Australian port and a stake in the Empire State Building's operator were among assets acquired by sovereign investors such as wealth funds and state pension funds in the third quarter of 2016, with deals totalling $21.2 billion.The combined…
China’s state-owned COSCO Shipping Corp plans to launch cruise services in the South China Sea in July, reports Reuters. The first route is expected to travel from Sanya to the Yongle Island, part of the Xisha Islands in Hainan province…
China COSCO Shipping Corp Ltd (COSCOCS), a new company formed by the restructuring of China's top two shipping firms, was officially established on Thursday (February 18). The Chairman Xu Lirong said his company,now the world's largest bulk vessel and oil tanker operator by fleet size…
Marintec China exhibition has grown by 14% since its last edition to cover 80,000 sq m with over 2,000 exhibiting companies from 34 countries defying the talk of a slowdown in China and its hard-hit shipyards. The two years since the…
Global oil sector has cut 200,000 jobs in downturn.Renewables are powering a rare bright spot in the energy industry, with record job hiring in solar, wind and hydro partly offsetting the biggest round of job losses in the oil and gas sector in almost two decades…
In an industry first, the Miami-based Carnival Corp. will develop a multi-ship domestic Chinese cruise brand with Chinese partners. Carnival, the world’s largest cruise company, formed a joint venture with China State Shipbuilding Corp…
The state-run China Daily says that India's plans to conduct oil exploration off Vietnam coast in the South China Sea is 'illegal and is an 'unwise move' that may 'sabotage' positive momentum in ties. 'India's intention to once again explore…
The massive $27 billion Yamal LNG liquefied-natural-gas venture in the Arctic Circle, a centerpiece of President Vladimir Putin’s plan for Russia has been squeezed by U.S. restrictions on OAO Novatek, says a report in the WSJ. Through this project…
Cnooc Ltd., China’s biggest offshore oil and gas explorer, posted a 56 percent decline in profit for the first half of this year. Net income dropped to 14.73 billion yuan ($2.3 billion), or 0.33 yuan a share, from 33.59 billion yuan, or 0…
According to the head of the National Iranian Tanker Company (NITC), Iran has 42 very large crude carriers or VLCCs, each able to carry 2 million barrels of oil, reports Press TV. NITC has recently announced that after buying 20 oil tanker from China during the last two and half years…
China's biggest oil and gas company China National Petroleum Corp.(CNPC ) has expressed interested in a terminal in Kyaukphyu in Myanmar to receive imported Liquefied natural gas (LNG). China National Petroleum Corporation has proposed…
C-MAR, an international marine and offshore services provider, and the Shanghai Maritime University (SMU) has officially launched the Dynamic Positioning training facility (DPC-SMU) at a special ceremony in Shanghai. In the first joint venture of its kind…
China has appointed new chairmen for the country's top three energy groups, according to company statements on Monday, in a top-down reshuffle of the industry which faces the challenges of spending cuts, low oil prices and easing demand.Earlier…
C-MAR and the Shanghai Maritime University (SMU) has officially launched the Dynamic Positioning training facility (DPC-SMU) at a special ceremony in Shanghai. In the first joint venture of its kind, C-MAR will provide dynamic positioning…
