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The week in pictures
What’s been happening in the oil and gas industry this week?
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The first shipment of LNG into the UK?s Milford Haven South Hook Terminal has arrived from Qatar. The five storage tanks at the US$1.6 billion facility are capable of holding 20% of the UK’s gas supply.
Singaporean ship builders Keppel FELS were awarded a bonus of close to US$625,000 for delivering the jackup rig, Greatdrill Chetna, 20 days ahead of schedule, within budget and without incidents to Mercator Offshore. (Getty Images)
Good news at last for the Middle Eastern oil industry as prices over the US$50 a barrel mark. Despite speculation to the contrary the price has been sustained since. (Getty Images)
Not satisfied with US$50, the Saudi Arabian Oil Minister, Ali al-Naimi set a target oil price of between $60 and $70 a barrel. “Today’s low oil prices are just as unsustainable as soaring prices,” Ali al-Naimi said at a conference in Geneva. (Getty Images)
ABB won a US$400 million contract in Kuwait to design, supply, install, test and commission three new substations.
The three substations will increase transmission voltage from 300kV to 400kV, allowing Kuwait?s grid to be connected up with neighbouring GCC countries which already operate at 400kV.
A contradictory week in Algeria as a local newspaper reported that state-owned energy company Sonatrach was cancelling various energy projects in the country.
The rumours were vehemently denied by Algeria’s Energy Minister Dr Chkib Khalil who said that Sonatrach had no plans to cancel any projects and had the funds in place to self-finance any venture. (Getty Images)