• 2019 January 18 11:38

    PGNiG SA signs agreement for oil and gas exploration and production in UAE

    Representatives of PGNiG SA, the Ras Al Khaimah Petroleum Authority and RAK GAS LLC have signed an agreement whereby the Polish company is permitted to explore for and produce hydrocarbons in the emirate of Ras al Khaimah, PGNiG says in a press release. 

    On behalf of PGNiG SA, the Exploration and Production Sharing Agreement was signed by Piotr Woźniak, President of the Management Board, and Michał Pietrzyk, Vice President of the Management Board for Finance, in the presence of His Highness Sheikh Saud Bin Saqr Al Qasimi, Ruler of Ras Al Khaimah.

    “We are entering a region of fundamental importance for the global oil and gas market in what marks another step in the pursuit of the PGNiG Group’s strategy to strongly expand the international presence of its exploration and production segment,” said Piotr Woźniak, President of the PGNiG Management Board. “I am sure that by joining forces with local partners we will not only benefit business wise, but will also gain an opportunity to share knowledge and experience,” he added.

    PGNiG won a tender for acquisition of rights to explore for, to appraise and to produce hydrocarbons in Ras Al Khaimah in December 2018. The agreement allocates obligations and provides for a split of costs and profits under the licence. Initially, the work will be carried out in three two-year exploration stages, to be followed by a 30-year production phase. After each exploration stage, the Company may choose to relinquish its interest in the licence.

    The licence area is 619 square kilometres. All matters related to the execution of activities under the licence will be the responsibility of a newly established branch of PGNiG SA in the emirate of Ras Al Khaimah.

    The Ras Al Khaimah Petroleum Authority is the regulator of the oil and gas sector in the emirate. RAK GAS LLC is the emirate’s national oil company whose business includes exploration, production, delivery and processing of hydrocarbons.

    Nishant Dighe, CEO of RAK GAS, said: “On behalf of the RAK Petroleum Authority and RAK GAS LLC, we are pleased to welcome PGNiG to Ras Al Khaimah for this exploration and production sharing agreement. We look forward to a successful and mutually beneficial partnership that we are confident will unlock the hydrocarbon potential in Ras Al Khaimah.”

    According to the latest OPEC statistics, the United Arab Emirates proven reserves amount to 98 billion barrels of oil and over 6 trillion cubic meters of natural gas. Crude oil production amounts to 3 million barrels a day and marketed production of natural gas to 54.1 billion cubic meters per annum.


2019 April 21

15:38 WheelHouse names Ian Morris as Vice President of Operations
14:34 CMA CGM to implement FAK rates from West Med, Adriatic, Black Sea and East Med to Far East, Middle East Gulf and Red Sea
12:37 USCG offloads 970 pounds of cocaine and 550 pounds of marijuana
11:31 CMA CGM hikes rates on Asia to Kenya, Tanzania service
11:07 Kinder Morgan raises dividend by 25%, announces Q1 2019 results

2019 April 20

16:31 CMA CGM announces FAK rates for Asia - the Middle East Gulf trade
15:02 MOL pledges support for Mozambique in wake of devastating cyclone
14:42 USCG Cutter Waesche crew returns home after 95-day counter-narcotics patrol
13:27 CMA CGM announces FAK rates for Asia to Pakistan / India / Sri Lanka trade
13:12 Carnival Cruise Line, CFVI unveil revitalized Griffith Park in St. Thomas for local children
12:26 BC Ferries celebrates Earth Day with the return of the Spirit of Vancouver Island
11:04 Certification of Arkona offshore wind farm by DNV GL confirms safe and reliable power supply
10:49 Navios Maritime Acquisition Corporation announces $103.2 million sale and leaseback transaction
10:38 Boskalis acquires EUR 75M dredging contracts in Indonesia

2019 April 19

18:07 Keppel posts net profit of S$203M in 1Q 2019
17:28 Passenger Port of Saint-Petersburg to complete Phase 1 of Berth No7 reconstruction in summer 2019
17:04 Saudi Aramco partners with the Saudi Contractors Authority fostering collaboration at ‘Future Projects Forum’
16:57 BAE Systems Jacksonville secures Navy's conntract mod for DDG 117
15:04 Hyundai LNG Shipping announces order for one VLGC at HHI
14:55 Marina for 100 yachts to be built in Feodosia by Firm “TES” LLC
14:10 C-Fenna successfully completes Fugro 1200 jackup towing operations
13:32 ESPO congratulates Port of Huelva for renewing EcoPorts’ environmental management standard
13:07 Spirit of Vancouver Island vessel returns to service after mid-life upgrade including conversion to natural gas
12:44 New High Bay Container Storage system launched as “BOXBAY”
12:10 ABS teams with industry leaders to improve container vessel safety
11:39 Port Arthur LNG receives FERC authorization for export project in Texas
11:08 Dual-fuel AET tankers conduct maiden LNG bunkering
10:43 Largest barge of Azerbaijan Caspian Shipping Company undergone overhaul
10:19 Brent Crude futures price is down 0.04% to $71.95, Light Sweet Crude – up 0.38% to $64
09:56 Bunker prices are sable at the port of Saint-Petersburg, Russia (graph)
09:35 TransContainer’s transportation volumes in Q1’2019 increased by 7.7% Y-o-Y to 492,000 TEUs
09:17 Baltic Dry Index is up to 790 points
07:42 GTT receives an order from DSME for the tank design of a new LNG carrier

2019 April 18

18:36 South Stream Transport B.V. and Saipem announce the amicable settlement of mutual differences
18:06 Seaway 7 selected as partner to develop Hollandse Kust Zuid Offshore Wind Farm
17:36 WinGD reports strong first quarter 2019
17:11 Launching ceremony held for eighth shallow-draft barge of Project ROB20
17:05 SOFEC completes engineering, supply and delivery of mooring system
16:26 Port of Murmansk to welcome eight cruise liners in summer season of 2019
16:05 Cooperation agreement between Eimskip and Royal Arctic line approved by the Icelandic Competition Authority
15:44 Navios Acquisition announces $103.2 million sale and leaseback transaction for three MR2 product tankers and two LR1 product tankers
15:12 Nefteflot laid down two barges of Project RDB12 ordered by STLC
15:10 MOL to acquire strategic stake in six group companies, each owning a Very Large Ethane Carrier
14:40 Port of Rotterdam freight throughput grows by 5.1% in first quarter of 2019
13:44 Bunker prices are slightly up at the Far East ports of Russia (graph)
13:03 Biggest European shipbuilders collaborate on vessel connectivity in project Code Kilo
12:49 NOVATEK reports preliminary operating data for the first quarter 2019
12:13 Frontex, EMSA and EFCA open second annual European Coast Guard Event
11:51 RF Navy’s Northern Fleet takes part in combat training missions as part of final check for winter training season
11:27 ASCO took part in TransRussia-2019
11:00 ZIM joins to blockchain shipping solution TradeLens
10:44 Shareholders agreement on construction of Lavna terminal signed under Murmansk Transport Hub project
10:28 Brent Crude futures price is up 0.1% to $71.69, Light Sweet Crude – up 0.09% to $63.82
10:09 ABS teams with industry leaders to improve container vessel safety
09:53 Keppel secures integration and upgrading contracts worth around S$160 million
09:37 Tri-City ports take part in Seatrade Cruise Global
09:36 Bunker Market this morning, April 18
09:15 Baltic Dry Index is up to 767 points

2019 April 17

19:00 SMS Towage’s Humber fleet adds new tug
18:36 CMA CGM has announced FAK rates from Asia to North Africa