Germany to Propose Beirut Port Reconstruction with 'Strings Attached'
Germany will next week present a multi-billion-dollar proposal to Lebanese authorities to rebuild the Port of Beirut as part of efforts to entice the country’s politicians to form a government capable of warding off financial collapse, two sources said.A chemical explosion at the port last August killed 200 people, injured thousands and destroyed entire neighborhoods in Lebanon’s capital, plunging…
Floating Production Systems Market Bounces Back on Recovering Oil Prices
Orders for production floaters have bounced back over the past month driven by rising crude prices, according to Jim McCaul, head of offshore business intelligence firm World Energy Reports.McCaul bases his assessment on data in a new floating production systems report prepared by World Energy Reports. The report provides details for 206 floater projects in the planning stage, 44 production or storage floaters now on order…
Nord Stream 2 Warns of Security Risks to Pipeline from Warships, Low-flying Planes
The consortium behind the construction of the Nord Stream 2 gas pipeline warned on Thursday about security risks to the project from warships and planes, as the link is nearing completion.The pipeline, aimed at bypassing Ukraine and doubling the capacity of the current Nord Stream undersea gas link from Russia to Germany, has been the focus of tensions between Moscow and Washington, which imposed sanctions against the project.Andrey Minin…
OPEC+ to Ease Output Cuts from May
OPEC+ agreed on Thursday to gradually ease its oil output cuts from May, after the new U.S. administration called on Saudi Arabia to keep energy affordable for consumers.The group, which has implemented deep cuts since a pandemic-induced oil price collapse in 2020, agreed to ease production curbs by 350,000 barrels per day (bpd) in May, another 350,000 bpd in June and further 400,000 bpd or so in July.Iran's oil minister…
