Dec 14, 2010

Ruling narrows state's case against BP for Slope oil spills

A state judge has made a key ruling that could spare BP paying hundreds of millions to the state due to suspended oil production in the aftermath of the company's major 2006 spills on the North Slope. The state filed a civil lawsuit against BP asserting damages...
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Watchdog clears ASX's Singapore merger

The competition regulator says it will not oppose the proposed takeover of the Australian Securities Exchange (ASX) by Singapore Exchange Limited (SGX). SGX wants to buy the ASX for $8.4 billion in a deal which is expected to lower costs for both exchanges and...
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S.Africa, Angola sign energy deal in historic visit

South Africa and oil-producing Angola took a step away from decades of friction on Tuesday by signing an energy deal during the first state visit of Angola's long-standing leader to the regional economic power. [Read more] Source: Reute...
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Another well comes online in Campos Basin pre-salt play

Petrobras has announced the start-up of an extended well test (EWT) for the Carimbé reservoir, in the Campos Basin. Discovered last May, the reservoir is located 108 km off the coast of Rio de Janeiro. The test, being carried out with well 6-CRT-43-RJS, marks...
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Petrobras seeks Bolivia natural gas field stake

Brazilian state oil company Petrobras  is in talks with France's Total to buy a stake in the Bolivian natural gas field Itau, a Petrobras official said on Tuesday. The move comes despite the 2006 energy nationalization that gave the Bolivian government control over Petrobras assets, including a...
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U.S. expected to file Gulf oil spill civil case

The U.S. Justice Department is expected to announce as early as Wednesday its first significant legal action stemming from the BP oil spill in the Gulf of Mexico, a federal government source familiar with the matter said. [Read more] Source: Reut...
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GE awarded $500m Aramco contracts

General Electric (GE) has won contracts worth almost $500 million to provide equipment and services to a remote Saudi Aramco oil field in the Kingdom’s Empty Quarter. The US company was selected by Aramco to outfit the Shaybah oil field with 11 gas turbine generators and other equipment to boost power...
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Total Studies Polish Shale in ‘Baby Steps’ to Gain Gas Assets

Total SA, Europe’s third-largest oil company, is studying the possibility of searching for shale gas in Poland to gain access to a potential 3 trillion cubic meters in fuel resources in the eastern European country. “It’s a very interesting” area, Martin Deffontaines,...
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Argentina's YPF dispute threatens fuel shortages

A two-week old labor dispute at Argentina's largest energy company, YPF, could start to cause fuel shortages in the coming days as refineries run out of crude oil supplies, two energy firms said on Tuesday. [Read more] Source: Reut...
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Uganda evicts pastoralists from oil fields

Uganda has evicted more than 400 pastoralists from a patch of land in the Lake Albert rift basin, where oil has been found, after the government accused them of illegal occupation, police said on Tuesday. Police ejected the herders over the last two days from areas around Buliisa district, police spokesman...
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Adira Energy Announces Commencement of Drilling Operations Onshore and 3D Geophysical Survey Offshore Israel

Adira Energy Ltd. is pleased to announce that it has commenced Drilling and workover operations on its onshore "Eitan" unconventional gas license in the Hula Valley as well as commencing 3D geophysical survey operations on its "Gabriella" and "Yitzhak" licenses offshore Israel. [Read more] Source: ...
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Petrobras Cuts Oil Production Growth Forecast by Half

Petroleo Brasileiro SA, Brazil’s state-controlled oil company, said production next year will rise by less than half a previous forecast as output at older fields declines. Output will increase by 3.5 percent to 4 percent, Guilherme Estrella, head of exploration...
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Cheney, Halliburton may settle Nigerian charges

Charges of bribery against former U.S. Vice President Dick Cheney and Halliburton by Nigeria's anti-corruption police may be dropped after an agreement to pay a $250 million fine. "Discussions focus on the possibility of a plea bargain arrangement," said Femi...
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BP to Sell Pakistan Assets to Pay for Spill

BP said on Tuesday that it would sell Pakistan assets to United Energy Group for $775 million in cash, as it continues to raises money to pay for the oil spill in the Gulf of Mexico. BP is selling exploration and production assets in the southern coastal province...
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Vantage Drilling Company Announces Contract Award

Vantage Drilling Company announced today a contract award for a drilling program in Southeast Asia consisting of two wells plus an option well. The anticipated duration of the first two wells is fourteen months. The contract is anticipated to commence in the third...
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Statoil: High activity off Norway in 2010

In 2010 Statoil started production on three new fields, delivered a plan for development and operation (PDO) of two new fields and chose concepts for two of our main improved recovery projects. Statoil’s strategy is to maximise the value on the Norwegian continental...
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Siem Offshore Sells Platform Supply Vessel for $32 million

Siem Offshore has entered into an agreement for the sale of the 2007 built PSV ‘Siem Mollie’. PSV ‘Siem Mollie’ of VS 470 mk II design has been sold to an Asian buyer at a price of approx USD 32 million. The vessel is scheduled to be delivered to its new owner...
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Bounty Oil And Gas NL New Seaclem 1 Well Spudding Today

Bounty Oil & Gas NL is pleased to announce that the "Ocean Patriot" semi submersible drill rig has been positioned at the New Seaclem 1 location, fixed with 8 anchors and has ballasted down. All operations have proceeded smoothly aided by calm seas. The well...
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Malaysia:Six hurt in oil platform blaze

Six offshore oil rig workers were injured when a fire broke out at the Bekok C platform operated by Petronas Carigali Sdn Bhd about 200km off Terengganu waters. They were among 102 people who were carrying out chores at the site when the incident occurred at 12.05am yesterday. All of them were evacuated...
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Petrobras to name drillship winner

Petrobras is set to award just one of the contractual packages on offer for building seven drillships per Brazilian shipyard, a director with the company confirmed today. [Read More] Source: Upstr...
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Northern Offshore Announces New Contract Award for Jackup Energy Enhancer

Northern Offshore, Ltd. today announced that its subsidiary, Northern Offshore U.K. Ltd., has been awarded a contract with Ithaca Energy (UK) Limited ("Ithaca"), a subsidiary of the Canadian independent oil and gas company Ithaca Energy Inc., for the jackup Energy...
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Pride Orders Samsung Drillship‎

Offshore drilling rig operator Pride International Inc. said Tuesday it has reached agreement with Samsung Heavy Industries Ltd. for the construction of a deep-water drillship. The new unit will be constructed at Samsung's shipyard in Geoje, South Korea, with...
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Norway: Statoil Installs New Compessor Module on Kristin Platform

Statoil has decided to install a new compressor module on the Kristin platform together with the Kristin and Tyrihans licence owners. The module will increase recovery from the field. “The investment decision will result in increased reserves and accelerated production,...
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Bisected outlooks on newbuild prices

Contradictory outlooks on a future ship price are being raised, some expecting a re-drop while others prospecting a continuous upward trend. One of the main reasons for the re-drop expectation is an imbalance of supply and demand. A recession of the shipping market situation triggered by the mass completion...
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Murphy Oil Expands in S.E. Asia

Oil and gas company Murphy Oil Corporation expanded its footprint in Southeastern Asia through a production sharing agreement in Brunei Darussalam. Murphy's wholly owned subsidiary, Canam Brunei Oil Ltd., has entered into an agreement with Brunei National Petroleum...
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Bangladesh: Ship breakers allege conspiracy against industry

The country’s ship breakers protested continuous vile propaganda and aggression on the ship breaking industry. They alleged that some non-government organisations are creating obstacle in association with foreign conspirators to the development of local shipbuilding industry. [Read More] Source: The...
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China’s Nov shipbuilding totals 5.96 mil dwt, up 20% from Oct

China completed shipbuilding work totaling 56.76 million dwt over January-November this year, up 55.4% year on year, data from the Ministry of Industry and Information Technology showed Monday. Source: Pla...
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New Zealand Has Scope to Improve Offshore Oil Laws, Report Says

New Zealand’s offshore petroleum operations would benefit from improvements to laws covering health, safety and the environment, a report prepared for the government shows. The review was undertaken by Auckland-based law firm Atkins Holm Joseph Majurey in partnership...
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Supertanker Market Has 30 to 40 Spare Vessels, DnB NOR Says

DnB NOR Markets analysts Henrik With and Glenn Lodden comment in an e-mailed report today on supply and demand for supertankers to load 2 million-barrel cargoes of Middle East crude oil. Source: Bloomb...
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C-NLOPB: Implementation Strategy for the Offshore Helicopter Safety Inquiry (Canada)

The Canada-Newfoundland and Labrador Offshore Petroleum Board (C-NLOPB) announced  early steps in an implementation strategy for the Offshore Helicopter Safety Inquiry Phase I Report Recommendations. [Read more] Source: Offshore Energy To...
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Vantage Drilling Updates Status of Platinum Explorer

Vantage Drilling Company  is pleased to announce that the ultra-deepwater drillship, the Platinum Explorer, has set sail from Singapore and is currently enroute to India to commence a five year contract with Oil & Natural Gas Corporation Limited. The...
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Det norske Completes Drilling Operations on Stirby

Det norske oljeselskap ASA has as operator completed exploration well 24/12-6S T2 in PL 341, located about 75 kilometers north of the North Sea Sleipner field. In the Upper Jurassic primary target, at about 4330 meters depth, only thin sand stones with no hydrocarbons...
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Rowan Appoints Suzanne P. Nimocks as New Director

Rowan Companies, Inc. is pleased to announce the appointment of Suzanne P. Nimocks to its Board of Directors as of today.  Ms. Nimocks recently retired from McKinsey & Company, Inc., a global management consulting firm, where she served as a director...
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Signal International refurbishes Mobile shipyard

Signal International Inc. recently completed a $9 million yard and dry dock renovation at its shipyard in Mobile, Alabama. The former Bender Shipbuilding facility is now the home of Signal Ship Repair, SSR, and is the flagship vessel repair and new construction...
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Sunseeker brings two new yachts to the London International Boat Show

Sunseeker International will launch two new yachts at the forthcoming Tullett Prebon London International Boat Show, at Excel London from 7-16 January 2011. The all new Predator 115 and the Manhattan 73 are both exciting additions to the Sunseeker range, maximising...
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STX OSV Secures Contract for Platform Supply Vessel of Own Design

STX OSV Holdings Limited (“STX OSV”), one of the major global designers and shipbuilders of offshore and specialized vessels, is pleased to announce that it has secured a new contract for the design and construction of a Platform Supply Vessel of PSV 09 design...
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CMA CGM Group launches Africa's largest container vessel in Ghana

The CMA CGM Group has inaugurated the biggest container vessel from Asia to West Africa in Ghana. The vessel, named CMA CGM Africa One, has a capacity of 3,600 teus, which means it can carry 3,600 of 20 footer containers. Source: Ghana N...
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Possibility of 17 Missing Sailors Surviving Very Low

It seems there's little hope of survival for the 17 missing crew members of a Korean fishing vessel which sank in waters off the Antarctic on Monday. Source: Arirang N...
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Storms sink ship off Israel

ELEVEN Ukrainian seafarers have been rescued from lifeboats after their general cargo ship reportedly sank in storms off Israel. Source: Safety at ...
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Passengers safe after scary cruise

PASSENGERS were recovering today in Valletta as repairs began for a RCCL cruise ship battered by a high waves in an eastern Mediterranean storm. US passenger Evelyn Hoffa told CBS today that it was “horrifying” as strong winds resulted in 30-foot waves crashing...
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Titan offloads yard to Grand China

The debt laden Titan Petrochemicals Group said Monday it has signed an agreement to sell a 95% stake in Titan Quanzhou Shipyard to rapidly expanding Grand China Logistics for Yuan 1.866bn ($280m). Source: Seatrade A...
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Mærsk sells the last three M-class vessels

A P Møller-Mærsk has reportedly sold three older container carriers to Mediterranean Shipping Company, MSC, for an undisclosed sum. A P Møller-Mærsk has not made any comments so far. Source: Ship...
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Hapag-Lloyd orders 13,000 TEU ships

Hapag-Lloyd yesterday ordered four containerships with a capacity of 13,200 TEU each from South Korea's Hyundai Heavy Industries. It also bought back its company headquarters in Hamburg's Ballindamm. Source: Marine ...
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Chinese, German ships collide in North Sea

A Chinese cargo ship carrying fertilizer and fuel sustained major damage and required a tow to port after colliding with a German vessel in the North Sea, the Danish Navy said on Monday. Source: Global Nat...
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Half of ownership interest of STX Helsinki shipyard likely to be sold to Russia

South Korean shipbuilding company STX is selling half of its ownership interest in the Helsinki shipyard to the United Shipbuilding Corporation (USC), owned by the Russian government. According to the Finnish Broadcasting Company (YLE), the contract of sale will be signed today, Friday, in St. Petersburg...
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JKX says Ukraine well very encouraging

JKX Oil & Gas has completed and tested horizontal well R-103 in the Rudenkovskoye gas field in Poltava, Ukraine, and initial flow rates have exceeded expectations.  [Read more] Source: Sharec...
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Vietsovpetro extends co-operation

The Russian-Vietnamese oil and gas joint venture Vietsovpetro has agreed to extend its co-operation for an additional 20 years. During the 38th meeting of the joint venture held last Friday in Vung Tau, Nguyen Huu Tuyen, Vietsovpetro's general director, said the...
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PGS to pay dividend, sees higher 2011 profit

Norwegian oil services company Petroleum Geo-Services said on Tuesday it would pay a dividend for the first time since 2007 and forecast a rise in profit next year that was smaller than analysts expected. [Read more] Source: Reut...
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Drillsearch Energy Limited Announces Innamincka Petroleum Limited Scheme of Arrangement

Drillsearch Energy Limited wishes to advise that the requisite majority of Innamincka Petroleum Limited shareholders voting in favour of the Scheme of Arrangement was not achieved at today's Scheme Meeting. We note that 96.86% of voting shareholders supported...
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US says Sudan out of time on Abyei referendum

Sudan has run out of time to organize a referendum on the future of its disputed Abyei region, meaning the North and South must agree to a political solution for the oil-rich territory, a senior U.S. official said on Monday. [Read more] Source: Reut...
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