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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A “new generation” of bulkers

Dry bulk carriers are tough, no-nonsense ships operating in a rough and competitive world, moving mountains of coal, iron ore, grain and other bulk shipments around the world with a minimum of fuss. They have to be exceptionally robust – with some iron ports capable...

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'Need to develop human resource in maritime sector'

Shipping Minister G K Vasan today said in the wake of increasing demand for sea farers in global maritime trade, India should develop human resource in the maritime sector as it has huge potential. [Read More] Source: Chennaionl...

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GREENPEACE: THE SV `RAINBOW WARRIOR` IS HERE FOR TOXIC FREE ASIA TOUR

The Greenpeace flagship Rainbow Warrior arrived today in Manila for the final stop of her "Turn the Tide" tour of Southeast Asia. The ship's arrival marks the 10th anniversary of Greenpeace official presence in the region. Greenpeace is calling on citizens of...

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World's largest solar-powered boat sails around world

The sun can do a lot more than just light up the sky. It can also power boats on the sea. Pulling alongside the Turanor, people seem amazed, some even snapping a photo or two of the ship some call the future of water travel. The purpose of the ship: singular. [Read More] Source: N...

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Freight market blues?

Although freight markets are far better off than during the depressed 90’s they now face, again, the consequences of over-ordering of new tonnage and lack of support from demand. Even though, after the 2008 markets collapse, it was clear that freight demand would...

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Why didn't the navy save us? The Chandlers reveal how they were captured by pirates under the gaze of British patrol

Moments after storming aboard Paul and Rachel Chandler’s yacht, the pirates’ leader began haranguing them with one question that was clearly of vital importance to him. 'Nationality? Nationality?’ he shouted repeatedly in thickly-accented English, as the couple...

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Pirates attack, abandon Turkish ship

Pirates boarded a Turkish freighter in the Indian Ocean but abandoned the vessel after not being able to locate its crew who had hidden in a secret place, authorities said in a news report. [Read More] Source: ABC N...

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Malta-flagged ship damaged in collision

A Malta-flagged freighter was seriously damaged in a collision with a Panamanian ship off the coast of China on Monday morning, Chinese media reported. [Read More] Source: DI...

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Somali pirates convicted for attacking US Naval ship

Five young Somali men face life in prison after being convicted of piracy in the April attack on a US Navy ship. Prosecutors said the men attacked the USS Nicholas after mistaking it for a merchant ship and were out for as much as $40,000 (£24,800) in ransom money. [Read More] Source: The M...

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Box ships to get "bigger and bigger", says GL

Orders for the world’s first 18,000teu container ships will be placed within the year, Germanischer-Lloyd’s Hermann Klein has forecast. The ships would be longer and wider than anything ever built before and would require a new generation of cranes with longer...

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Marystown Shipyard Nearing Completion of Ferry Construction

The first of two new medium-sized vessels constructed at the Kiewit Offshore Services Shipyard in Marystown for the provincial ferry fleet is entering the final phase of construction. Hull 57 is being placed in the water this week. Construction on the two ferries began late last year. [Read More] Source:...

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Turkish investment for CMA CGM

 CMA CGM shareholders and the YILDIRIM Group of Turkey have reached an agreement which enables CMA CGM to strengthen its equity base and secure the financing of its investment plan. [Read More] Source: Heavy L...

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Blue Water Shipping wins FPSO logistics work

Blue Water Shipping as been selected as the project freight forwarder to provide all logistics activities in connection with SBM Offshore's turnkey Cidade de Paraty Floating Storage, Production and Off-loading (FPSO) project. [Read More] Source: Heavy L...

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International WorkBoat Show to bring 10,000 visitors to New Orleans this week

Not surprisingly, much of the talk at the upcoming International WorkBoat Show in New Orleans is expected to center around the Gulf of Mexico oil spill. [Read More] Source: N...

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Keppel, Jurong Brazil subsidiaries bid for Petrobras drill rigs tender

Shipbuilding and construction groups from Singapore and Brazil have bid for the tender issued by Brazil's Petrobras to build 28 deepwater oil drill rigs, the state-led oil company said Saturday. [Read More] Source: pla...

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Goodearth Shipbuilding to start work on TN project next year

The Chennai based Goodearth Shipbuilding Pvt Ltd, belonging to the Archean Group of companies, has put its shipyard development project at Cuddalore in Tamil Nadu back on track. [Read More] Source: Steel G...

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