Pandemic-driven lockdowns have taken their toll on small companies in every sector, while larger companies can take a longer view on matters, including in the LNG sector.
South Korea has run out of commercial storage space for oil, according to people with knowledge of the matter, a development that’s likely to intensify a global scramble for tankers to store crude and fuels.
Actions taken by producer states under the OPEC+ banner, coupled with moving oil into storage, should see a stock draw of 4.7 million barrels per day in the second half of 2020, the International Energy Agency (IEA) has said in its recent Oil Market Report (OMR).
Worley has won two master service agreements (MSAs) from Total for work on the Mozambique LNG project.
The hull of the Coral Sul floating LNG (FLNG) has been launched at a ceremony in Geoje, in South Korea, on schedule.
South Korea’s LNG imports in September dropped to levels last seen in 2017.
South Korea has struck a 15-year deal with BP for LNG supplies, covering 1.58 million tonnes per year.
The Trump administration said it won’t renew waivers that let countries buy Iranian oil without facing U.S. sanctions, a move that roiled energy markets and risks upsetting major importers such as China and India.
Aberdeen University has been forced to abandon an ambitious plan to create an international campus in South Korea.
An Aberdeen firm is to carry out installation work for the world’s first “carbon-free island” in South Korea.
South Korea is holding another vessel over suspicions it transferred petroleum products to a North Korean vessel -- the second seizure to come to light since President Donald Trump warned China against illicit oil sales to North Korea.
Any future threats from Pyongyang could significantly impact neighbouring countries' energy trades, causing them to utilise strategic petroleum reserves, it has been warned.
The President of the European Bank for Reconstruction and Development (EBRD) has held meetings with theKorean Government and the Asian country's Green Climate Fund (GCF).
Watch the world-record transport of the 80,500 ton Floating Production Unit (FPU) Likouf onboard the Dockwise Vanguard, from South Korea to Gabon.
The United States has rejected China’s proposal for a halt to joint US-South Korean military exercises if North Korea suspends its nuclear and missile activities.
Korea National Oil Corp (KNOC) said the government has informed it to indefinitely halt construction of an underground storage tank after an incident this month which killed two workers and injured others.
One worker was killed and five were injured in an explosion at an underground tank storage site in Korea, a news report said.
A South Korean electric power utility is said to be close to investing in a $13billion project in the UK which could see construction of a new nuclear power plant near Sellafield.
Korea National Oil Corp (Knoc) has decided to cut its losses and exit the Sangaw South project in Kurdistan.
Korea Gas Corp plans to lower costs by using its own overseas output for the production of liquefied natural gas (LNG), the firm’s boss said, according to a media report.
Crude imports from Iran to South Korea have jumped nearly 115% since last month compared with a month earlier, new figures show.
South Korean prosecutors have raided Daewoo Shipbuilding and Marine Engineering (DSME) as part of an investigation into alleged accounting irregularities.
A man working on a Statoil rig in South Korea has died following an incident last month where he was injured.
Workers on Statoil’s Mariner project have been injured while carrying out construction work for its flagship North Sea Mariner project.
Songa Offshore said it has taken delivery of the Songa Enabler from Daewoo Shipbuilding & Marine Engineering (DSME) in South Korea.