Nov 7, 2010

Bow Energy Limited Increases Blackwater Coal Seam Gas Field 3P Certified Gas Reserves By 15%

Brisbane, Australia, Nov 07, 2010 (ABN Newswire via COMTEX) -- Bow Energy Limited (ASX:BOW) (PINK: BOWYF | PowerRating) are pleased to announce an additional 213 petajoules (PJ) 3P certified reserves for its Blackwater CSG Field located approximately 250km west of Gladstone, Queensland. The upgrade represents a 15% increase in reserves for the Blackwater CSG Field from 1,383PJ to 1,596PJ thereby increasing Bow's total net 3P Reserves to 2,574 PJ. 
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Source: Trading Markets
Posted on 11/07/2010 / 0 comments / Read More

Drillsearch Energy Limited Chiton Oil Field Production Recommences



Sydney, Nov 8, 2010 (ABN Newswire) - Drillsearch Energy Limited (ASX:DLS) (PINK:DRLLF) is pleased to announce that production at the Chiton Oil Field located in PEL 91 on the Western Flank Oil Fairway has recommenced, as receding floodwaters allow better access to the site. Production had been suspended since early February this year.
Source: ABN Newswire
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Woodside in defence mode as Shell sells down

Australia’s biggest independent oil and gas company Woodside Petroleum is in takeover defence mode after long-time shareholder and technical adviser Shell offloaded a 10 per cent stake for $3.3 billion.
The sale will leave Shell with a 24.27 per cent Woodside stake but has signalled that Shell is an eventual seller of the rest of its stake, with BHP Billiton a candidate following its inability to secure Canadian government approval last week for its $40 billion hostile takeover bid for crop nutrient producer Potash Corp.
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Source: The Sydney Morning Herald
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Australian labour woes to fuel LNG project costs

PERTH: Australia's expanding liquefied natural gas (LNG) industry could face large labour cost blowouts as new projects struggle to fill thousands of jobs from a heavily unionised workforce whose ranks are already being thinned by retiring baby boomers. 
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Source: The Economic Times
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Olympia Steel Buildings Lands Huge Contract To Ship Buildings to Kazakhstan

Olympia Steel Buildings has just landed a huge contract to ship buildings into Kazakhstan for a new state of the art manufacturing plant planned for the manufacture modular housing to meet the recent housing development boom.
"Olympia Steel Buildings has more large building projects up the road," stated Arnold Davis, company President. "The oil boom that Kazakhstan is now experiencing has created an urgent need for modular housing and major housing development projects. It is no secret that due to earthquake vulnerability, the entire region is moving away from concrete structures toward the safety and security of solid steel I-beam pre-engineered steel building construction. Strict building codes that apply to pre engineered steel buildings and metal buildings systems assure that pre-engineered steel buildings meet seismic codes and will not crumble and collapse when the earth shakes like other structures do."
Olympia Steel Buildings has established a good infrastructure in Kazakhstan and the surrounding region, having penetrated into markets such as Turkmenistan, Russia and Serbia that are opening to the West and Western business models after the collapse of the Soviet Union. These countries are seeking to move from Third and even Fourth World status and develop their economies, fired by their huge oil reserves, new oil pipelines and the industries that fuel them.
"Olympia Steel Buildings stands ready to deliver buildings anywhere in the world," asserts Davis, "and, we can provide complete turnkey construction packages anywhere in the world, including labor, supervision, erection of steel buildings, concrete work, electrical. We not only prepare the foundation, erect the steel building and install all mechanical systems, we finish the building interior, install drywall, flooring and fixtures and complete all interior painting. We even provide optional landscaping services. We are very excited about the opportunity to introduce Olympia Steel Buildings into Kazakhstan and the entire region. Our experience and knowledge of pre-engineered metal building construction combined with the latest technology in building today deliver a building that is sustainable, cost-effective and energy efficient - and you get a beautiful building."
About Olympia Steel Buildings 
Olympia Steel Buildings are supplied by Universal Steel Buildings Corp, an industry leader in pre-engineered steel buildings for over 40 years, and sole supplier of Olympia Steel Buildings® to commercial, industrial, agricultural, residential, government, military and civilian agencies. Olympia Steel Buildings come with their outstanding weather-resistant PBR roof, or you can opt for their patented Zeus-Shield® standing seam metal roofing system. GSA approved Olympia Steel Buildings set themselves apart by using better materials, better quality control, exceptional customer service and industry-leading warranties, including a 25-year rust through perforation warranty and a 50-year warranty on the structural frames. Olympia pre-engineered steel buildings are precision engineered and expertly erected to give you a "tight" building that reduces air infiltration into the building saving on HVAC costs. They offer 12 energy efficient colors for metal buildings to reduce cooling costs and come with a 40-year warranty against chipping, cracking, peeling or blistering. Because of such key features, Olympia pre-engineered steel buildings can qualify under LEED Green Building guidelines. For more information about Olympia Steel Buildings, visit their website www.olympiabuildings.com or call 888-449-7756 for more information.
Source: Press Release

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South Korean fishing boat sinks in high waves, leaving 9 sailors missing

SEOUL, South Korea — The coast guard says that a South Korean fishing boat has sunk, leaving nine crew missing.
Coast guard officer Hong Seok-ju says that the trawler sank in high waves off South Korea's west coast on Monday morning.
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Source: The Canadial Press
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BP, Chinese flagged to sign oil exploration deal

BRITISH oil giant BP is reportedly about to sign a major exploration deal with China's biggest offshore oil and gas producer.
When Prime Minister David Cameron visits Beijing this week, Sky News said BP was hoping to conclude an agreement with state-owned China National Offshore Oil Corporation to explore an area of the South China Sea, where the two companies had already worked together.
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Source: The Wall Street Journal

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Crew of Hijacked Korean Ship to Return Home

Five Korean crew members on board the supertanker Samho Dream, which was released last Saturday after being hijacked by Somali pirates in April, are expected to return to Seoul this Saturday.
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Source: Chosun Ilbo
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Fire breaks out at container station near Pipavav Shipyard in Gujarat

Sunday, Nov 7, 2010, 20:18 IST -  A fire broke out this evening at a container freight station located near the Pipavav Shipyard here, district fire officials said.
No casualties were reported so far, officials said.
"A fire broke out at the freight station of Contrans logistics, which is situated near the Pipavav Shipyard," they said.
Fire tenders from neighbouring Savarkundla town and industrial estates have rushed to the spot, fire officials said.
Source: Daily News & Analysis
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China Zenith Chemical Group applies for TDR issue

Hong Kong-listed China Zenith Chemical Group Ltd<0362>, a leading coal-based chemical and biochemical raw materials manufacturer and supplier, announced last week that it has submitted an application to the Taiwan Stock Exchange for its Taiwan Depositary Receipt issue, the Wall Street Journal reported.
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Source: China Knowledge
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DBP to offer financing assistance to Filipino ship designers

In line with its efforts to rejuvenate the country's shipbuilding industry, the Development Bank of the Philippines (DBP) has announced its willingness to fund the construction of ships or vessels designed by the country's naval architects.
"(We are willing to do this so) they can promote this vessels which are Filipino designs to promote shipbuilding in the Philippines," DBP senior assistant vice president Paul Lazaro said.
He said this effort is in conjunction with their initiative in modernizing the country's shipyards.
?We are financing the modernization of the vessels and I hope some shipyards will accommodate this,? Lazaro stressed.
The DBP earlier acquired the NDC-Maritime Leasing Corporation from National Development Corporation (NDC) in 2008, for P379 million to develop the roll-on, roll-off terminal system (RRTS) and the missionary routes program in the country.
As this develops, Society of Naval Architects and Marine Engineers (SONAME) president Sammuel T. Lim said they are pushing for Filipino ship owners to utilize marine craft designed and built by their compatriots.
He said Filipinos, giving the right funding, has more than sufficient talent to give the shipbuilding giants in the United States, Japan, South Korea, China and the United Kingdom a run for their money.
"We are number one now in the global manning industry. I see no reason why we can't dominate the shipbuilding and ship design industry," Lim concluded. (PNA)
Source: Press Release
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Austal buys Australian Technology Information

Shipbuilding company Austal Ltd (ASX:ASB) has announced that it has bought a Canberra-based company called Australian Technology Information (ATI) Pty Ltd.
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Source: Finance News Network
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Rongsheng, Planning Hong Kong IPO, Expects Rising Profit on China's Growth

China Rongsheng Heavy Industries, the nation’s second-biggest shipbuilder, said domestic economic growth and government support will boost profit.
“The future of shipbuilding is upbeat as the global economy is recovering stably,” Chief Executive Officer Chen Qiang said in Hong Kong today via a video conference. “The overall development of China’s economy has brought the industry a lot of opportunities.”
Rongsheng is seeking to raise as much as $2.3 billion selling 1.75 billion shares at HK$7.30 to HK$10.10 in an initial public offering this year. The shipbuilder intends to use the proceeds for projects including a fourth drydock, as a rebound in world trade following last year’s global recession revives demand for ships.
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Source: Bloomberg
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Iraq receives Saudi offer to rebuild oil pipeline

Iraq's Oil Ministry is studying an offer submitted by a private Saudi company to rebuild the idled Iraq Saudi oil export pipeline, ministry spokesman Asim Jihad told Reuters on Sunday.
Jihad and a representative of the Saudi firm, Ali Mahir, said the offer proposed involving Japan's Mitsubishi and a Hungarian company identified as OTV, which took part in the construction of the original 626 km (390 mile) pipeline.
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Source: Arabian Business
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MAMMOET ACQUIRES NEW HARBOUR SITE

Heavy lifting and multimodal transport provider Mammoet has acquired an 8 ha undeveloped harbour site on the Axel Plain at Autrichehaven in Westdorpe, near Terneuzen, the Netherlands.
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Source: Ship Management
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Yemen to divert 35 LNG cargoes to Asia in 2011

SANAA, November 7 (Reuters) - Yemen LNG, a liquefied natural gas venture led by French oil major Total (TOTF.PA: Quote), will divert 35 cargoes originally meant for U.S. markets to Asia next year because of higher prices there, an official said on Sunday.
Income from gas exports is an important revenue source for the impoverished country, a neighbour to top oil exporter Saudi Arabia but without its vast resources, as the Arabian Peninsula state struggles to make up for falling crude revenues.
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Source: REUTERS
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Mariner Energy Reports 2010 Third Quarter Results

For the three-month period ended September 30, 2010, Mariner Energy, Inc. reported net income of $1.8 million, which equates to basic and diluted earnings per share of $0.02. This compares with net income of $4.2 million, or $0.04 per basic and diluted share, for the same three-month period in the prior year.
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Source: Market Watch
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W&T Paying $450M For Shell's Stakes In Gulf Of Mexico Fields


W&T Offshore Inc. (WTI) said it has bought or plans to buy interests in six offshore fields located in the Gulf of Mexico from Royal Dutch Shell PLC (RDSA, RDSA.LN) for about $450 million.The independent oil and natural-gas company also will assume about $50 million of asset-retirement obligations associated with the properties it is acquiring. Both dollar figures are subject to change.
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Source: The Wall Street Jounal
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