Aberdeen University scraps South Korea plans over oil downturn
Aberdeen University has been forced to abandon an ambitious plan to create an international campus in South Korea.
South Korea
Aberdeen firm wins contract for world’s first ‘carbon-free island’
An Aberdeen firm is to carry out installation work for the world’s first “carbon-free island” in South Korea.
South Korea said to seize second ship suspected of oil transfers
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.
North Korea volatility could impact global energy imports, analyst says
Any future threats from Pyongyang could significantly impact neighbouring countries' energy trades, causing them to utilise strategic petroleum reserves, it has been warned.
European Bank and South Korea lead green economy
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).
Video: record breaking transport of FPU
Watch the world-record transport of the 80,500 ton Floating Production Unit (FPU) Likouf onboard the Dockwise Vanguard, from South Korea to Gabon.
US rejects China’s call to halt military drills if North Korea stops missile tests
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 construction work halted after death of two workers
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.
Oil worker dies in South Korea explosion, report says
One worker was killed and five were injured in an explosion at an underground tank storage site in Korea, a news report said.
South Korean electric power utility eyeing UK nuclear investment
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.
South Korea’s Knoc cuts losses on ‘uneconomic’ Kurdistan project
Korea National Oil Corp (Knoc) has decided to cut its losses and exit the Sangaw South project in Kurdistan.
South Korea to cut costs by leaning on own output for LNG production
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 jump in the month of June
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 raid Daewoo shipyard
South Korean prosecutors have raided Daewoo Shipbuilding and Marine Engineering (DSME) as part of an investigation into alleged accounting irregularities.
Worker dead after accident on Staoil rig in South Korea
A man working on a Statoil rig in South Korea has died following an incident last month where he was injured.
Statoil in third South Korea shipyard accident in six months
Workers on Statoil’s Mariner project have been injured while carrying out construction work for its flagship North Sea Mariner project.
Songa rig to begin journey from South Korea for Statoil job
Songa Offshore said it has taken delivery of the Songa Enabler from Daewoo Shipbuilding & Marine Engineering (DSME) in South Korea.
POSH Terasea wins deal to move Shell’s Prelude to Australia
POSH Terasea has won a deal to project manage, tow and position Shell’s Prelude FLNG (Floating, Liquefied Natural Gas) platform from South Korea to its offshore gas field in Australia. The Prelude is the world’s largest offshore gas facility ever constructed and the deal will see the company tow the Shell Prelude FLNG over 3,000 nautical miles from the Samsung Shipyard in Geoje to Australia where it will be deployed.
Glen Lyon FPSO sets sail to North Sea
BP has reached a major milestone with the sail away of its Glen Lyon FPSO from the Hyundai Heavy Industries yard in South Korea to the Quad 204 redevelopment in Shetland.
Fire at Daewoo shipbuilding yard leaves one dead and seven injured
Police are investigating after a fire at a shipbuilding yard in South Korea has left one person dead and seven others injured. The incident happened at a shipyard owned by Daewoo Shipbuilding & Marine Engineering on Geoje Island earlier today. It is believed the fire broke out on an 85,000 LPG tankers where engineers had been carrying out welding work.
Industry plagued by “optimism bias” on big project start-ups
A continued "optimism bias" on projects is challenging the industry to deliver on time, according to leading major projects experts.
Pacific Drilling cancels Samsung drillship contract due to delays
Pacific Drilling has cancelled the construction contract for the ultra-deepwater drillship Pacific Zonda after Samsung Heavy Industries failed to deliver the vessel on time.
Fred Olsen Energy cancel construction and drilling contract for Chevron North Sea rig
Fred Olsen Energy (FOE) has cancelled a construction contract for a newbuild rig with Hyundai Heavy Industries in South Korea, as well as ending an agreement with Chevron in the UK North Sea. The company’s subsidiary, Bollsta Dolphin, said it had exercised its contractual termination right as a result of the rig’s delay.
South Korea’s S-Oil sees higher demand for oil products supporting margins
South Korea's S-Oil Corp 010950.KS said on Monday it expected global demand for refined oil products to continue to grow in the fourth quarter and next year, supporting refining margins. S-Oil, whose main shareholder is Saudi Aramco SDABO.UL, reported a $10.97 million operating income in the third quarter, compared with 606.2 billion won in the second quarter, due to lower refining margins and inventory related losses.
Oil slips as Japan data triggers fresh worries
Oil prices fell today after weak Japanese data sounded alarm bells over the prospects for global growth, outweighing the bullish impact of a bigger-than-expected decline in US crude oil stocks.