Sino Gas and Energy Holdings Limited Drilling Program Completed With Another Gas Discovery Well

Sino Gas & Energy Holdings Limited has drilled to Total Depth, completed the electronic logging of its TB09 well and confirms the presence of gas in 4 prospective zones. Sino Gas is conducting its 2010 work program to gather the data for a reserves upgrade...

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Hutchison to Buy $337 Million of Husky Energy Shares in Private Placement

Li Ka-shing’s Hutchison Whampoa Ltd. will buy 14.1 million shares in Husky Energy Inc. for C$345.5 million ($337 million) under a private placement by the Canadian oil producer, also controlled by the Hong Kong billionaire. Hutchison will acquire the shares at...

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Oceaneering Announces BHP Billiton Umbilical and Distribution Equipment Contract

Oceaneering International, Inc. announced that it has secured a contract with BHP Billiton Petroleum Pty Ltd, a subsidiary of BHP Billiton, Limited, to supply umbilicals and distribution equipment for development of the Macedon gas field off Western Australia.   Oceaneering's scope of supply is...

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ONGC to Invest in Biggest Oilfield to Stem Two Decades of Declining Output

Oil & Natural Gas Corp., India’s biggest energy explorer, plans to increase spending on redeveloping its largest oilfield to stem more than two decades of decline in output. We reached a peak at Mumbai High in 1989,” Sudhir Vasudeva, ONGC’s director for offshore...

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BP Suspends Construction of Liberty Rig in Alaska to Study Safety Systems

BP Plc, the largest producer of oil and natural gas in the U.S., suspended construction of a drilling rig at its Liberty project in Alaska to “take time to evaluate the safety systems” on the rig, Steve Rinehart, a company spokesman, said in a telephone interview. BP’s...

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Salazar, Interior host conference on hydraulic fracturing

U. S. Secretary of the Interior Ken Salazar was joined today by representatives of the oil and gas industry, government agencies and environmental groups in a intended to examine best practices in hydraulic fracturing. The Secretary convened the forum with the...

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Shell files for carbon capture in Alberta oil sands

Royal Dutch Shell Plc has applied for a C$1.35 billion ($1.31 billion) carbon capture project to cut emissions from the company's Alberta oil sands processing operation with the aid of government funding, it said on Tuesday. [Read more] Source: Reut...

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Carrizo updates Eagle Ford, Niobrara activity

Carrizo Oil & Gas Inc., Houston, said its first two Eagle Ford shale wells drilled from a common surface location in central La Salle County, Tex., appear to have stabilized at a combined 1,125 b/d of oil and 2 MMcfd of 1,367-btu/Mcf of gas.  Mumme Ranch...

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ABS and CCS sign new cooperation agreement

Houston:  ABS and the China Classification Society (CCS) strengthened their collaborative efforts by entering into a new Cooperation Agreement on 24 November in Washington, DC. While the agreement is comprehensive, the offshore industry will be a priority area of focus for the two leading classification...

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SK Shipping orders VLGC

Seoul: Korea's SK Shipping has signed a contract with compatriot shipbuilder Hyundai Heavy Industries (HHI) at Hyundai Hotel in Geyongju on November 25 to build a VLGC of 82,000 cbm class. [Read More] Source: Seatrade A...

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FMC Technologies and Petrobras Sign Memorandum of Understanding

FMC Technologies, Inc. announced today that it has signed a memorandum of understanding with Petrobras to develop future subsea technology solutions for its oil and gas projects offshore Brazil. The agreement includes the development of innovative and cost effective...

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2011 Shipbuilding: 'Cloudy'

The prospects of shipbuilding industry in Korea for 2011 is being described as 'Partly Cloudy Sky' as new ship orders are expected to maintain this year's volume next year while small- and medium-sized shipyards face accelerating restructuring. [Read More] Source:...

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China slows down in new orders

China's total of the new orders taken during January-October 2010 was recorded at 54.62m DWT, which was a 2.9 times increase year-on-year, the China Association of National Shipbuilding Industry (CANSI) revealed in the report of 'the national shipbuilding industry economic operating situation for January-October...

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NY Assembly Approves Hydraulic Fracturing Moratorium

The New York state legislature refused to consider most major agenda items in Monday’s session, but they still gave their final approval to a bill that places a six-month ban on hydraulic fracturing while state and federal agencies review the practice. The measure, which was approved by the state senate...

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Guangzhou Shipyard to sell 8 tankers to China Shipping Dev't

Guangzhou Shipyard International Co Ltd, a subsidiary of China State Shipbuilding Corp, yesterday announced that it has agreed to sell eight crude oil tankers for RMB 1.9 billion in total to China Shipping Development Co Ltd, the largest carrier of crude oil in mainland China, sources reported. [Read...

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Canada's Orca to drill new gas well in Tanzania

Toronto-listed Orca Exploration says it plans to drill a new well in 2011 to boost natural gas production at the Songo Songo field in Tanzania amid growing local energy demand. The company's third quarter 2010 report, seen by Reuters on Tuesday, said there was...

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Mexico Supreme Court to hear Pemex law challenge

Mexico's Supreme Court on Tuesday will hear a challenge to regulations that would allow the state oil monopoly Pemex to sign contracts with private companies, as some lawmakers try to block a bid to open up the sector. "They are discussing it, it's in today's order," a court spokeswoman told Reuters...

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BP, Alabama condo developer reach $37M pact

BP PLC will pay an Alabama coastal developer $37.2 million under a deal made public Tuesday to settle claims that the Gulf of Mexico oil spill damaged a major beachfront condominium project, but condo buyers and lenders still must agree not to sue the petroleum company. [Read more] Source: Bloomb...

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Nigeria summons Shell, Halliburton over graft cases

Nigerian anti-corruption authorities have summoned top officials from Shell and Halliburton as part of separate investigations into alleged bribery, a spokesman said on Tuesday. "The (local) managing director of Shell and that of Halliburton are to appear in our...

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Russian govt approves additional expenses for Sakhalin-1 project for 2010 - energy ministry

The Russian government has approved additional budget expenses for the Sakhalin-1 oil and gas project for 2010, the Energy Ministry said on Monday, without mentioning the size of the new budget. The government has also approved an amended program of work and spending...

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Azerbaijan to build new pipeline for Shah Deniz II by 2017

The BP-led group in Azerbaijan plans to build a new gas pipeline boosting the country's gas export capacity to 24 billion cubic meters (bcm) from 8 bcm per year by 2017, it said on Tuesday. "We plan to build a new gas pipeline with a capacity of 16 billion cubic...

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Russia's Gazprom ready to negotiate lower prices for European clients

The world's largest gas export monopoly, Russia's Gazprom, said on Monday it was ready to cut prices on its long-term contracts to Europe as the volume of paid for but undelivered gas mounted, Gazprom said on Monday. Gazprom, which supplies Europe with a quarter...

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Gazprom and Shell to develop energy projects together

A new "special relationship" between Royal Dutch Shell and Russian state gas giant Gazprom will see the two companies develop more energy projects together. Four years after Russia forced Shell to cede control of its $22bn (£14bn) Siberian field, Sakhalin-2, to...

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Bulgaria before Brussels: Nabucco Guarantee Outside the State Budget

Bulgaria's Prime Minister, Boyko Borissov asked the European institutions that the figures of the bank guarantee that Bulgaria would provide for the construction of Nabucco gas pipeline would not be included in the calculations of Bulgaria's budget deficit. "If...

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Dolphin finishes Fujairah pipeline

Abu Dhabi: After three years planning, construction and charting a pipeline route through some of the most arduous desert and mountain terrain, Dolphin Energy announced Tuesday that it has finished building the Taweelah-Fujairah Pipeline  [Read more] Source:...

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Sudan crude oil output to rise to 500,000 bpd

Sudan will add 30,000 barrels per day of crude with a new oilfield in the north, hiking its total production to 500,000 bpd, an official said on Tuesday. Sudan's economy is heavily dependent on crude and the south -- where most of the oil is located -- is hurtling...

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Petronas Q2 net profit down on higher taxation

KUALA LUMPUR: Petroliam Nasional Bhd's (Petronas) net profit fell marginally to RM11.88bil in the second quarter ended Sept 30 from RM11.97bil a year ago due to higher taxation but the group is optimistic of its outlook. President and chief executive officer Datuk...

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DryShips Announces Signing of Drilling Contract

November 29, 2010-DryShips Inc., a global provider of marine transportation services for drybulk cargoes and off-shore contract drilling oil services, announced today that its fully-owned subsidiary Ocean Rig UDW Inc has signed definitive documentation following...

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SeaDrill Q3 Profit Rises, Acquires Jack-up Drilling Rig Petrojack IV

Offshore deepwater drilling contractor SeaDrill Ltd. Tuesday reported higher third-quarter profit, helped by strong contract revenues and the acquisition of Scorpion Offshore Limited. However, revenues missed market estimates. Separately, the company announced...

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Total gets new deal in North Sea

Total expects to produce around 40,000 barrels of oil equivalent per day by 2013 from the second phase of operations at a North Sea field, the company said. French energy company Total announced it received approval from the British Department of Energy and Climate...

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Faroe Petroleum Secures Rig for Clapton prospect Off Norway

Faroe Petroleum, the independent oil and gas company focusing principally on exploration, appraisal and production opportunities in the Atlantic margin, the North Sea and Norway, is pleased to announce that it has signed a rig contract securing the Maersk Guardian...

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Eidesvik declares PSV option

Earlier this year Eidesvik Offshore signed a contract with Kleven Maritime for the delivery of a PSV (Platform Supply Vessel), with an option of a further unit. The option has now been declared. [Read More] Source: Ship...

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Scan Brasil to be auctioned

Advertisements placed in the specialist shipping media indicate that Scanscot Shipping's Scan Brasil which is currently under arrest in Durban Harbour will be sold by means of a judicial public auction. [Read More] Source: Heavy L...

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Wind Turbines Cross Mediterranean

Heavy-lift forwarder ALS’ Netherlands-based Project Office recently fully chartered a multi-purpose vessel to move 21 wind turbines from the port of Sfax in Tunisia to the south Croatian port of Sibenik. [Read More] Source: Break B...

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Baltic Index Drops a Third Session as Fleet Growth Lowers Rates

The Baltic Dry Index, a measure of commodity-shipping costs, fell for a third consecutive session as fleet expansion pulled down rates to hire bigger iron-ore carriers, even as steel prices rise. [Read More] Source: Bloomb...

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Tanker vessels take center stage

The tanker freight market has suffered from oversupply issues during the past few months,  thus offsetting the factor of improved oil demand compared to the previous year. Among the leaders in tanker investments have been Chinese ship owners, as the Asian powerhouse continues to invest in vessels,...

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Drydocks World begins construction of leading-edge US$110 million Compact Semi-Submersible Vessel

Drydocks World recently held a keel laying ceremony for a state-of-the-art Compact Semi-Submersible (CSS) vessel. 'The Derwent' is being built for integrated energy services provider Hallin Marine Subsea International Ltd, a Superior Energy Services company, at...

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Netherlands. Owners consider condition of ships hatch covers

There is a growing move by ship owners and managers to effect essential and non-essential  repairs to their hatch covers as they start to react to changing market conditions, a leading industry player has claimed. [Read More] Source: BYM Marine & Maritime...

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New Red Sea And Mediterranean Container Shipping Service Launched

OMAN – It is a little over seven years since the Government of the Sultanate joined with Oman Oil to form a company with the avowed intent to ‘revive the historical Omani seafaring tradition through modern shipping and chartering’ and to facilitate more import...

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Vietnam builds four more large capacity ships

The Bach Dang Shipbuilding Corporation began construction of four new 22,500 DWT ships on November 29 with the engines being assembled by the corporation itself for the first time. [Read More] Source: VOV N...

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One ship sinks in collision off Bulgarian coast, no oil spills

Two ships collided at sea near Cape Emine. Photo by BGNES Two ships have collided in the Black Sea some 20 km south of Bulgaria's Emine Cape, with one of them sinking, and 6 sailors gone missing. [Read More] Source: emg...

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Malaysian ship hijacked

NAIROBI (Kenya): Somali pirates have hijacked a Malaysian-flagged ship with 23 crew members on board in the Indian Ocean the European Union’s anti-piracy task force said. [Read More] Source: The S...

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Drunk man drops anchor of moving cruise ship MS Ryndam

A MAN has been charged after allegedly dropping anchor on a moving cruise ship while he was drunk. [Read More] Source: The Austral...

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Lay System for Mcdermott International

A 300-tonne cable and pipe lay system will shortly be delivered to McDermott International Inc. The SURF (subsea umbilical riser and flowline) installation market is expanding and pushing into ever-deeper waters. At the same time IHC Engineering Business (IHC...

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Tap Oil Announces Zola-1 Rig On Location

Tap Oil Limited is pleased to advise that the Operator of WA-290-P, Apache Northwest Pty Ltd  has advised that the Stena Clyde semi-submersible drilling rig is currently running anchors at the Zola-1 drilling location and the well is expected to spud in the...

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Statoil taps Bergen Group to increase production at Kvitebjorn in the North Sea

Statoil has awarded Bergen Group Rosenberg a contract for building and installing a compressor module on the Kvitebjørn platform in the North Sea.  This will contribute to improving the recovery rate and accelerating production at the Kvitebjørn field by...

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TGS Expands 2D Seismic Data in the Sundaland Margin, Offshore Indonesia

TGS announces a second 2D seismic survey offshore Indonesia Southwest Sumatra (SMi10) in the forearc basin along the Sundaland Margin. The survey will add 2,700 km of new 2D data to infill the existing 6,900 km of multi-client data acquired in 2009. The previous...

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Tullow to achieve first oil from deepwater Jubilee field offshore Ghana within weeks

Tullow Oil revealed today that the company expects to produce first oil from the massive Jubilee field offshore Ghana on December 15, 2010. Developed in just 3.5 years, Tullow claims that Jubilee is the fastest-ever deepwater full-scale development.  Discovered in June 2007 by the Mahogany-1 and...

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Woodside delays start of Pluto as costs soar

Woodside Petroleum says costs for its Pluto liquefied natural gas (LNG) project have blown out by $900 million and it will take another six months to begin production while it rebuilds equipment that falls short of design specifications. The oil and gas producer...

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Norway: Det norske Finds Indications of Gas in the Srirby Deep Project

Det norske oljeselskap ASA has as operator in PL 341, found indications of gas in the Stirby Deep prospect in the Viking Graben in the North Sea, 75 km south of Sleipner. The well data indicates gas/gas condensate under high pressure in a 70 meters thick sandstone...

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Brazil to decide in 2011 if BP can buy Devon assets

Brazil's state oil regulator, ANP, will wait until 2011 to decide whether to approve BP's proposed purchase of Devon Energy's offshore oil blocks, the agency's director said on Monday.  BP said at the beginning of this year that it had reached a deal with Devon to take over its Brazilian oil assets...

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Husky spends $860 million on Canadian energy assets

Husky Energy Inc. announced today it will buy $860 million worth of oil and natural gas assets in Alberta and northeast British Columbia – acquisitions that will bolster the company's daily production by the equivalent of 33,000 barrels of oil. “The initiatives...

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VAALCO Energy Provides Drilling Update

VAALCO Energy, Inc. today announced that oil production has commenced from the Company's South Tchibala development well (ETBSM-2H) following successful operations to retrieve the completion assembly which, as previously announced, had slipped through the elevator...

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EXCO Resources Expects 40% Growth in Production

Fueled by acquisitions, EXCO Resources said on Monday it expects production to grow by at least 40% next year. Reflecting the optimistic outlook, the oil and natural gas explorer, which has received a $4.36 billion buyout bid from the chief executive, approved...

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ProSep Concludes Milestone Agreement in Saudi Arabia

ProSep Inc., dedicated to providing process solutions to the oil and gas industry, today announced it has signed a collaboration agreement with Bandariyah International Group, a leading supplier to the Saudi Arabian oil & gas and petrochemical industries. This agreement will provide ProSep with...

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Naftogaz returns disputed gas to RosUkrEnergo in exchange for $1.7 billion

National joint-stock company Naftogaz Ukrainy has reported about the settlement of all issues related to natural gas supplies with Russian OAO Gazprom and Swiss-based gas trader RosUkrEnergo. "Under documents signed in pursuance of a ruling by the Stockholm Arbitration...

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AGR to Manager Exploration Drillong Offshore The Republic of Guinea

Hyperdynamics Corporation announced that it signed a contract with AGR Peak Well Management Limited, based in Aberdeen, Scotland, to manage its exploration drilling project offshore the Republic of Guinea. AGR will handle well construction project management services,...

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KPC to spend $90bn in five years for growth

Kuwait Petroleum Corp (KPC) plans to spend $90bn in the next five years as part of its strategy to boost oil production capacity to 4 million barrels a day by 2020, a senior executive at the company said on Monday. The world's fourth-largest oil exporter currently...

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Shipbuilders strive to stay afloat / Japanese companies cut costs, boost technical capabilities to battle foreign rivals

Once No. 1 in the world, this nation's shipbuilding industry is struggling to survive as Japanese companies are overwhelmed by Chinese and South Korean firms that are more cost-competitive. Nevertheless, Japanese companies are making great efforts to endure and...

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STX Awarded Contract for New PV90 Design

STX Canada Marine has been awarded a contract by Babcock UK subsidiary Devonport Naval Dockyard, to design the next-generation offshore patrol vessel (OPV) for the Irish Naval Service (INS). [Read More] Source: TTKN ...

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India may relax rules for local shipbuilders

The shipping ministry proposes to check Chinese shipbuilders from grabbing orders from Indian shipowners by relaxing eligibility rules and granting purchase price preference for local shipyards to undertake contracts. [Read More] Source: Live M...

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Near-Bankrupt Vinashin May Owe 3% of Vietnamese Banks' Loans, Moody's Says

Vietnam Shipbuilding Industry Group, the near-bankrupt ship maker, may account for as much as 3 percent of some Vietnamese banks’ loan portfolios, putting them at risk for restructuring, Moody’s Investors Service said. [Read More] Source: Bloomb...

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Bangladesh: Bill for Sonadia Island Deep Sea Port in December

A bill for setting up a deep-sea port will be placed in parliament in its next session in December, said Shipping Minister Shajahan Khan yesterday. The minister said this while inaugurating the deep-sea port cell on New Bailey Road in Dhaka. [Read More] Source:...

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Rocket Core Arrives in Wilmington

A first-stage core structure for Orbital Sciences Corporation’s Taurus II rocket arrived in the Port of Wilmington, Del. The rocket structure requires special transport to its destination at a launch site in Virginia. It is the first of between six and twelve...

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NYK Enters Offshore Shuttle Tanker Business

NYK has decided to invest in Knutsen Offshore Tankers ASA (KOT), which will result in NYK owning 50 percent of KOT’s total capital. Following this investment, KOT’s name will change to Knutsen NYK Offshore Tankers AS. [Read More] Source: LogisticsW...

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Evergreen Line to Vessel-Share with MCC Transport on Malaysia-Bangladesh (MBS) Service

Evergreen Line will be vessel sharing with MCC Transport on its Malaysia – Bangladesh Shuttle (MBS) service commencing December 16, 2010. [Read More] Source: LogisticsW...

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Digital welding boosts shipbuilding

In a move to cut costs and raise productivity, Hyundai Heavy Industries is expected to become the first shipbuilder in the world to adopt digital welding processes in shipbuilding. [Read More] Source: Motors...

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Tanker market to be plagued by oversupply in 2011, bunker prices heading upwards as well

Oversupply issues will continue to be a crucial factor for the tanker freight market during 2011 as well, said Mr. Alexandros Prokopakis, General Manager-Bunkering with Mamidoil – JetOil SA in an interview with Hellenic Shipping News Worldwide. Still, he remains...

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