India maritime cooperation with Norway

A Vietnamese minister said state- owned Vietnam Shipbuilding Industry Group, known as Vinashin, should make a $60 million debt payment on its own as the government offers to help the company become profitable.
[Read More]
Source: Bloomberg

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Vietnam Minister Says Vinashin Should Make Its Own Debt Payment

A Vietnamese minister said state- owned Vietnam Shipbuilding Industry Group, known as Vinashin, should make a $60 million debt payment on its own as the government offers to help the company become profitable.
[Read More]
Source: Bloomberg

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Daewoo Ship Gets $1.1 Billion Drill Ship, Rig Order

Daewoo Shipbuilding & Marine Engineering Co., the world’s second-biggest shipyard, received a $1.1 billion order for a drill ship and semi-submersible rig as demand for oil exploration recovers.
[Read More]
Source: Businessweek

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Shell had "access to everything" in Nigeria-WikiLeaks

Royal Dutch Shell had infiltrated key Nigerian ministries, giving it access to politicians' every move in the oil-rich nation, the Guardian said, citing U.S. diplomatic cables obtained by WikiLeaks.
The oil giant's top executive in Nigeria, Ann Pickard, told U.S. diplomats in Abuja in October 2009 that Shell had obtained secret information, including a letter showing Nigeria had invited bids for oil concessions from China.
[Read more]
Source: Reuters

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Petrobras moves to get pre-salt drilling rigs into construction

Petrobras has approved the qualifications of all seven bidders on its multi-billion dollar tender aimed at contracting up to 28 deepwater drilling rigs to be built in Brazil, and bids are in the final process to open envelopes,” Petrobras’ CFO Almir Barbassa told Offshore magazine. 
[Read more]
Source: Offshore Magazine

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Coastal Energy announces operations update in Gulf of Thailand

Coastal Energy Company, an oil and gas exploration and production company, has announced an update of its operations in the Gulf of Thailand.
A new field discovery was made at the Songkhla area with the third of three planned wells. The Songkhla North field was discovered by the A-11 well, which was drilled to a total depth of 7,974 feet TVD. The well encountered 44 feet of net pay in the Lower Oligocene reservoir with 18% porosity and 69 feet of net pay in the Eocene reservoir with 21% average porosity.
As previously announced, the Songkhla A-09 well was drilled to 8,109 feet true vertical depth and encountered 140 feet of net pay in the Lower Oligocene reservoir with average porosity of 15% and pressures approximating the original reservoir pressure at Songkhla Main. The well also encountered 75 feet of net pay in the underlying Eocene reservoir.
The Songkhla A-12 well was drilled into the same fault block as the A-09 well. The main Lower Oligocene target zone and the Eocene zone which was tested were water bearing at this location; however, pressure data indicate that the Lower Oligocene reservoir in the A-09 and A-12 wells is a new field discovery (Songkhla East).
Randy Bartley, CEO of Coastal Energy, commented: "Drilling results at Songkhla have been successful thus far. We have now identified two new fields in addition to the Songkhla Main field. Production from these fields can be tied into existing facilities at Songkhla once the upgrade of the processing facilities is complete."
Source: Press release

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El Paso pipeline ruptures west of Houston

A Tennessee Gas interstate natural gas pipeline ruptured near East Bernard, Texas, about 50 miles west of Houston on Wednesday afternoon, officials said.
Robert Newberry, spokesman for El Paso Corp, which owns Tennessee Gas Pipeline, said crews were on site to close a valve to stop gas leaking from the ruptured 24-inch pipeline.
[Read more]
Source: Reuters

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Canadian Oil Sands Trust Says Enbridge Shipments Drop

Canadian Oil Sands Trust is shipping less crude oil than normal on Enbridge Inc.’s pipeline system because tanks along Enbridge’s system are full, Alison Trollope, a spokeswoman for the producer, said in a telephone interview.
“There may be some barrels that are produced in December that are shipped in January, but we don’t expect any material impact at this time,” she said. All western Canadian producers are probably affected by the situation, which developed about five days ago, Trollope said.
[Read more]
Source: Bloomberg

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Drillsearch Energy Limited Updates On Western Flank Oil Fairway Exploration

Drillsearch Energy Limited is pleased to announce the planned drilling of five exploration wells in PEL 91 in the Cooper Basin Western Flank Oil Fairway in South Australia commencing in late January-early February 2011. PEL 91 is jointly owned by Drillsearch (60%) and Beach Energy Limited.
[Read more]
Source: ABN Newswire

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Exoma signs $50m agreement with Cnooc over QLD gas assets

Exoma Energy Limited has executed a Farmin Agreement, in Beijing, with one of China’s leading integrated energy companies, China National Offshore Oil Corporation, through one of its subsidiaries in Australia (CNOOC).
[Read more]
Source: Scandinavian Oil Gas Magazine

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Repsol, BG Group, Others to Invest $2 Billion in Bolivia by 2015

Spain’s Repsol YPF SA, BG Group Plc and other energy companies plan to invest about $2 billion dollars in four Bolivian natural-gas fields over the next five years, the government said.
Repsol YPF SA, BG Group Plc and Pan American Energy LLC will jointly invest $1.3 billion in the Margarita and Huacaya fields by 2014, state-owned Yacimientos Petroliferos Fiscales Bolivianos, or YPFB, said in today in an e-mailed statement. YPFB, Repsol, Brazil’s Petroleo Brasileiro SA and France’s Total SA will invest $750 million dollars in the San Alberto and San Antonio gas fields, according to a separate statement.
[Read more]
Source: Bloomberg

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Helix readying Gulf oil spill containment system

Helix Energy Solutions Group Inc  is putting finishing touches on a system of vessels and equipment that could be used in a rapid response to a future deepwater oil spill in the Gulf of Mexico, the company said on Wednesday.
[Read more]
Source: Reuters

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EOG ponders joint venture deals for 2011-exec

EOG Resources Inc would consider taking a joint venture partner for some of its shale gas acreage should the exploration company's plans to sell as much as $1.5 billion in natural gas assets in 2011 not go well, an executive said on Wednesday.
[Read more]
Source: Bloomberg

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Mexico May Extend Oil Output Declines for 7th Year

Petroleos Mexicanos, the state-owned oil company, is likely to post a seventh straight year of output declines in 2011 after the company faced delays to attract private investment for exploration projects.
[Read more]
Source: Bloomberg

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ION Announces Multi-Client Seismic Survey in Marcellus Shale

ION Geophysical Corporation today announced the commencement of a new 3D multi-client seismic survey in the Marcellus shale play in central Pennsylvania.  ION will manage and execute the entire program, providing a proven mix of survey design, planning and permitting, data acquisition using advanced technologies, data processing, and reservoir analysis from ION's GX Technology (GXT) imaging solutions subsidiary.  ION has commenced mobilization for the 200-square-mile initial phase of the program.
[Read more]
Source: Press release 

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Aramco Manifa Oil Field Will Start in 2013, Chief Says

Saudi Arabia’s Manifa oil field is on schedule to start pumping 500,000 barrels a day in 2013 and Saudi Aramco is planning chemical and refinery plants to process the kingdom’s crude, the company’s chief executive officer said.
“It’s planned ultimately for 900,000 barrels per day but the market doesn’t need 900,000 barrels now,” Khalid Al-Falih said today in Dubai. Manifa had been slated for completion next year before oil demand slumped amid the global recession.
[Read more]
Source: Bloomberg

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Encana renews normal course issuer bid

Encana Corporation has received approval for renewal of the company’s Normal Course Issuer Bid (NCIB) from the Toronto Stock Exchange (TSX). Under the renewed bid, Encana may purchase for cancellation up to 36,800,000 of its common shares, representing about 5 percent of the approximately 736,271,664 common shares issued and outstanding as at November 30, 2010.
[Read more]
Source: The Vancouver Sun

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Russia approves less funds for Sakhalin-1 oil project

Russia has approved a 2010 budget of $2.7 billion for the ExxonMobil-led Sakhalin-1 oil project, "significantly" less than what the operator asked for, Energy Minister Sergei Shmatko told journalists on Monday.
"Just a few days ago the government authorities approved a budget of $2.7 billion....We significantly lowered (the sum) requested by the operators," Shmatko said.
[Read more]
Source: Reuters

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Russia and Belgium: partnership for modernization

Russia will rent Belgian gas storages on a long-term basis. This will guarantee fulfilment of contracts for gas deliveries to EU countries. This agreement was reached on Wednesday, during Russian President Dmitry Medvedev’s meeting with Belgian Prime Minister Yves Leterme in Brussels.
The memorandum between Russian Gazprom Export and Belgian company Fluxys, signed in Brussels, will allow to effectively develop gas transfer corridors between Russia and the EU. The sides admit that investment in infrastructure, namely, gas pipelines and storage, will be one of the key factors of European energy security.
[Read more]
Source: The Voice of Russia

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Northern Petroleum Farms Out La Tosca Prospect To Orca Exploration

Northern Petroleum  has agreed to farm out the Longastrino Permit in the eastern part of the Po Valley Basin, onshore Italy, in a deal with Orca Exploration.
Longastrino’s main target is the La Tosca prospect, which is just 2 kilometres away from the Alfonsine gas field.
"We are delighted to welcome Orca as a new partner and to this permit,” NOP director Graham Heard said.
[Read more]
Source: Proactive Investors

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PetroChina starts running massive Qinzhou crude storage

PetroChina started trial operations of a massive crude oil storage in southern Guangxi region, part of China's efforts to build up oil stockpiles to improve ability to cope with any potential supply shocks.
The 42 crude oil tanks, each with capacity of 100,000 cubic metres, were a portion of PetroChina's <0857.HK> <601857.SS> <PTR.N> first phase of 10 million cubic metres of storage tanks in a bonded area in Qinzhou, according to a report by the official Xinhua news agency.
[Read more]
Source: Alibaba

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BP oil rig explosion: Technician 'on cigarette break missed warning signs'

A panel investigating the explosion that killed 11 men and led to the massive Gulf of Mexico oil spill heard on Tuesday that Joseph E Keith, a senior unit manager for Halliburton’s Sperry subsidiary, left his post for 10 minutes on the night of the April 20 accident.
While he was away from his monitors, pressure data indicated the well was filling with a mixture of explosive gas and oil, according to evidence entered at the joint Coast Guard-Interior Department panel in Houston. Mr Keith told the panel that had he seen the data he would have alerted colleagues to the danger. However, by the time he returned from smoking half a cigarette the gauges had returned to normal.
[Read more]
Source: The Telegraph

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Polar Star SSFDR Naming Ceremony Held in South Korea

On December, 3 in South Korea a solemn name-giving ceremony was held for the first semi-submersible floating drilling rig constructed within the frames of Shtokman gas-condensate field development according to the contract signed in 2007 between Gazflot LLC and Vyborg Shipyard JSC for engineering and construction of semi-submersible drilling rigs.
[Read more]
Source: Offshore Energy Today

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BP to buy Shell's stake in Gulf of Mexico deepwater fields

BP Exploration & Production has agreed to exercise its preferential rights to purchase Shell Offshore's stake in two Gulf of Mexico deepwater fields.
BP is the operator of the deepwater blocks Viosca Knoll 871 and 915, known as the Marlin and Dorado fields
[Read more]
Source: Energy Business Review

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GDF Suez Enters The Exploration in Greenland Waters

GDF SUEZ has signed its official entry in two exploration gas and oil licenses with the Greenlandic Ministry of Industry and Mineral Resources. The consortium between GDF SUEZ, Shell (operator) and Statoil has been granted two exploration offshore licenses in Blocks 5 and 8, located in the Baffin Bay, west of Greenland. GDF SUEZ’s share in each of the two licenses is 26.25%.
[Read more]
Source: Offshore Energy Today

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Shipbuilding fight goes on

In November, global new orders reached 123 units of 6.85dwt. China, Japan and Korea continued their bloody fighting in global newbuilding market.
[Read More]
Source: Asiasis

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Worst Case Scenario for Potential Chevrons Lagavulin Prospect Oil Spill

An oil spill from a deepwater blowout near the Shetland Islands could reach the coastlines of Scotland, eastern England, Norway and Greenland, according to a company which began drilling there in October.
Chevron, one of the world’s largest oil companies, made a worst-case forecast of the impact caused by a spill of 77,300 barrels a day lasting 14 days.
[Read more]
Source: Offshore Energy Today

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More work needed on lifeboat release systems

At the IMO Maritime Safety Committee’s (MSC) 88th session held from 24th November to 3rd December, a proposed set of revised SOLAS regulations calling for the evaluation and replacement of unstable lifeboat on-load release systems, did not find sufficient support for adoption.
[Read More]
Source: Tanker Operator

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NITC denies using armed guards to repel pirate attack

Major tanker owner NITC has denied reports that its VLCC ‘Hadi’ had evaded capture by Somali pirates possibly through the intervention of an armed team on board.
[Read More]
Source: Tanker Operator

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Swedish Club’s P&I tonnage grows

The Swedish Club reports a strong growth for the year’s first nine months. The P&I book is at a record level, totalling 46.6 million GT at December 1.
[Read More]
Source: Shipgaz

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Vessel oversupply issues keeping tanker rates down despite growing oil demand

Seasonal factors have started to weigh into the tanker trades, as the winter season is now officially upon us. As a result, some tanker segments have been taking advantage of those factors, like for instance the Suezmax tankers, which were particularly fortunate as a result of weather conditions in the Turkish straits, among other factors. Still, as a new report from shipbrokers Gibson notes, despite the on-going rise in earnings in the last couple of months, the weakening market fundamentals indicate huge uncertainty in the long-term outlook.
[Read More]
Source: Hellenic Shipping News

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Brazilian president promises to change oil royalties' distribution

Rio de Janeiro. Brazilian President Luiz Inacio Lula da Silva said Tuesday he would submit another bill to the Congress to change the distribution of oil revenues in the country, Xinhua informed.
Under the bill, the oil royalties would be divided among all states in the country, while the oil-producing states would not suffer a loss of income, he said.
[Read more]
Source: Focus News Agency

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Aibel awarded new contract for Gullfaks C platform from Statoil

Statoil has awarded Aibel a contract for modifications on the Gullfaks C platform. The modifications are to be undertaken in order to connect the Pan/Pandora satellite field to the processing facilities on Gullfaks C. This is the first of a number of fast-track projects that Statoil plans to undertake.
‘We are grateful for this contract, and will make every effort to undertake the work in a satisfactory manner,’ says Jan Skogseth, President and CEO in Aibel AS.
The value of the contract is in the region of 150 MNOK. The project will occupy around 50 people, and it will be managed from Aibel’s office in Bergen. The project will also provide work for Aibel’s employees in Haugesund, for both fabrication and onshore work.
The project’s duration will be for almost 2 years and the work will commence immediately.
Source: Press release

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Vitol SA to market Jubilee oil

Commodities trading house, Vitol SA has announced it has been awarded an exclusive contract to market Tullow Oil PLC's share of oil production from the Jubilee field offshore Ghana, which will start on December 15, 2010.
[Read more]
Source: Ghanaweb

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Smit Heaby Lift Europe B.V.profits from OCTOPUS-Onboard

After leasing Amarcon’s Portable Surveyor Box for several weeks, Smit Heavy Lift Europe B.V. decided to purchase OCTOPUS-Onboard for the installation on her Smit Taklift 4 vessel. Where the Portable Surveyor Box is used to monitor and advice in one-time-only projects, OCTOPUS-Onboard is a permanent centralized solution for wave and motion monitoring.
[Read more]
Source: Offshore Energy Today

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Pride International Settles FCPA Issues and Comments on Compliance Program

Pride International, Inc. today announced that it completed its settlement with the U.S. Department of Justice (DOJ) and the Securities and Exchange Commission (SEC) of outstanding U.S. Foreign Corrupt Practices Act (FCPA) matters that were voluntarily and promptly self-reported to the DOJ and the SEC in February 2006 after they were discovered in an internal review. 
[Read more]
Source: Digital Journal

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Bergen Group chooses EDB ErgoGroup as an IT supplier

The maritime industrial group Bergen Group has entered into an agreement with EDB ErgoGroup for the provision of IT operating and management services for the group's core IT solutions. The agreement runs for three years, and represents total contract value of approximately NOK 33 million
[Read more]
Source: Press release

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MEO Australia Announces Artemis-1 Progress Report

MEO Australia Limited advises that since the last progress report, the over-pressured zone has been stabilised by circulating 11 ppg mud and an additional 40 metres has been drilled to 2,976m to enable the zone to be isolated behind 9-5/8" casing.
[Read more]
Source: Press release

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Tap Oil Announces Zola-1 Well Drilling Update

Tap Oil Limited provides the following update on the Zola-1 exploration well, offshore Carnarvon Basin, Western Australia.
[Read more]
Source: Offshore Energy Today

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Subsea 7's new pipelay vessel mobilises

Subsea 7 has announced that Seven Pacific – a dynamically positioned (DP), pipelay and construction ice-class vessel, designed for deepwater pipelay and offshore construction activities worldwide - has mobilised for her first project.
[Read More]
Source: Offshore Shipping Online

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Giant repair base takes shape in Fujian

Shanghai: The ship repairing project of Fujian Quanzhou Shipbuilding Industry Co., Ltd will be completed next year, which could fill the gap that there are no large scale docks and ship repairing yard between Shanghai and Guangzhou, said Zhao Yunbao, executive vice president of the company. Currently over 1.9bn Yuan has been invested into this project.
[Read More]
Source: Seatrade Asia

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Japanese government unveiling measures to aid yards

Tokyo: The Japanese government is coming to the aid of its ailing shipbuildinders. The Ministry of Land, Infrastructure, Transport and Tourism will shortly announce comprehensive measures to shore up its 'weakened' shipbuilding business sector.
[Read More]
Source: Seatrade Asia

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Ship blocks Kolkata

TRAFFIC in the Kolkata channel has been severely disrupted by a drifting box ship damaged in a collision last month, Fairplay was told today.
[Read More]
Source: Safety at Sea

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Reef reporting tightened

AUSTRALIA will require ship reporting for the southern Great Barrier Reef next year, as the IMO approved Canberra’s application to extend its current system.
[Read More]
Source: Safety at Sea

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Safe Bulkers orders Caper

Safe Bulkers in Greece has entered into a shipbuilding contract for the construction of a Chinese-built, drybulk Capesize-class vessel of approximately 180,000 dwt at a contracted price of $53 million, with an expected delivery date in the third quarter of 2012.
[Read More]
Source: Motorship

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OOCL contemplating mega boxships

Orient Overseas Container Line (OOCL), the Tung-family-controlled shipping company, is considering ordering very large container ships that would be almost 50% bigger than any ship in its fleet, a senior executive confirmed.
[Read More]
Source: Motorship

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Controlled Growth for Brazil´s O&G Development

The Brazilian O&G market development speed is directly dependent on the shipbuilding industry and the specialized equipment and services industry. The hard truth is that none of these local supporting industries are presently capable of supplying the Brazilian O&G demand and it is clear that it will take quite a few years for the local industry to catch up to this demand, even then in many cases, such as shipbuilding, this accelerated growth will only be possible through partnerships with leading international shipbuilders.
[Read More]
Source: Maritime Professional

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DSME about to win a drill ship order

Daewoo Shipbuilding & Marine Engineering Co. (042660 KS), a South Korean shipbuilder, share price jumped 3.8 percent to 29,950 won, the most since Nov. 19, on speculation the company may win a drillship order, according to Sung Ki Jong, an analyst at Daewoo Securities Co.
“There are market rumors that the company will make an announcement soon on the order,” Sung said. Ahn Wook Hyeon, a spokesman at Daewoo Shipbuilding, declined to comment.
Source: Bloomberg

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Swissco Holdings orders two offshore support vessels

Marine logistics company Swissco Holdings has ordered, via a wholly-owned subsidiary, two offshore support vessels at the cost of S$20 million.
[Read More]
Source: channelnewsasia.com

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GAC expands UK network

Sheffield has given a rousing welcome to the latest addition to the GAC Logistics UK network, which has opened its doors for business in the city.
[Read More]
Source: Heavy Lift

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WindPower Innovations finalises agreement to open heavy lift facility in Oregon

WindPower Innovations, Inc., a wind energy company, has finalised an agreement to open its first full service heavy lift WindPower Innovations facility, for providing a range of services for the wind turbines in the State of Oregon.
[Read More]
Source: Heavy Lift

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Songa Eclipse delivery delayed

Songa Offshore says the newbuild drilling rig Songa Eclipse, under construction at Jurong Shipyard Singapore, will now be delivered next July.
[Read More]
Source: Offshore Magazine

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S. Korea's current account surplus narrows in first 10 months

South Korea's current account surplus narrowed in the first 10 months of the year under new calculating rules as fresh shipbuilding orders declined, the central bank said Wednesday.
[Read More]
Source: Yonhap News

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