Bounty Oil and Gas NL Utopia 10 Well Spud

Bounty Oil and Gas NL announces that the Utopia 10 oil development well in Utopia Field; PL 214 Eromanga Basin, SW Queensland will spud today. The Utopia Field lies 50km southeast of the town of Eromanga. Utopia 10 will be drilled vertically through the Murta...

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Brazil's Congress passes oil industry overhaul

Brazil's Congress approved a legal overhaul of the country's oil sector late Wednesday night, clearing the way for Brazil to expand development of vast offshore oil fields it hopes will turn it into a global energy exporter. [Read more] Source: Reut...

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STX buys Korean block manufacturer

Seoul: The board of directors of Korea's STX Offshore & Shipbuilding decided to buy the entire shares (321,360) in Hyukshin Machinery, a compatriot ship-block manufacturer, for KRW 39.2bn (about $34m), STX announced in a stock exchange filing recently. [Read More] Source: Seatrade Asia Onl...

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Officer shortage lower than expected

Today, balance rules between supply and demand on the world’s seafaring labour market, although there is a modest overall two per cent shortage of officers, the latest update of the ISF/Bimco Manpower study shows. [Read More] Source: ship...

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30 years in prison for attack on US vessel

The Somali Jaamac Ciidle as been sentenced to 30 years imprisonment by a federal court in Virginia for his role in pirate attack on April 10. [Read More] Source: ship...

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IHC Engineering Business and SAS to deliver lay system to McDermott International

IHC Engineering Business (IHC EB) is to deliver a 300 tonne pipelay system to McDermott International Inc. “We are ambitious to expand our market share of turnkey pipelay systems, particularly flexible product lay systems, and therefore we sought a partnership with an established provider of tensioner...

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P&O Maritime Services enters cable installation market

P&O Maritime Services, owner and operator of specialist science and cargo vessels, has entered the power cable installation market with its vessel CS European Supporter. [Read More] Source: Maritime Jour...

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Ensco rig sent to S.America as Gulf permits sought

A brand-new Ensco Plc rig will move from the Gulf of Mexico to South America and be put to work for Tullow Oil Plc  for three months, while original client Cobalt International Energy Inc seeks drilling permits. Ensco said on Wednesday the deal with a Tullow subsidiary would pay $440,000 a day...

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Crew expenses set to raise ship operating costs

Vessel operating costs are expected to rise by 3.2 per cent in 2010 and by 3.5 per cent in 2011, with crew costs identified as the category most likely to produce the highest levels of increase, according to a new survey by international accountant and shipping consultant Moore Stephens. [Read More] Source:...

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Worldwide supply and demand for seafarers is “balanced”

BIMCO and the International Shipping Federation (ISF) have published the results of their latest comprehensive study of the worldwide supply and demand for seafarers, finding that there is a general balance between supply and demand. [Read More] Source: Baird Marit...

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The Netherlands: Building the Hard Seawall at Maasvlakte

Protect the newly sprayed-on land against the winter storms. That’s the Blockbuster. After the stormy season, the enormous crane will continue blocks in the new Maasvlakte sea defence. [Read More] Source: Dredging To...

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Swire Oilfield Services Opens Regional Office in Singapore

Swire Oilfield Services, the world's leading supplier of specialist DNV rated offshore cargo carrying units (CCU), today announces its expansion in Asia with the launch of a new Singaporean subsidiary and the opening of a regional office in Singapore. The new office was opened by chief executive officer...

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BLG Logistics handles offshore wind power modules

Bremen-based BLG Cargo Logistics - part of the BLG Logistics Group - operates Europe's large terminal for conventional cargoes in Bremen (pictured) and is seeing ever-increasing numbers of logistics services associated with the offshore wind farm industry. [Read...

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Offshore-Drilling Decision Makes Waves

The top executive of the American Petroleum Institute expressed surprise at the Obama administration's decision today to pull back its expanded offshore-drilling policy and disputed comments made by Interior Secretary Ken Salazar that indicated the oil and gas...

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Indian Firms Win Contracts at Paradip

Engineering firm Punj Lloyd Limited has secured a US$246.3 million lump-sum turnkey contract from Indian Oil Corporation Limited for the US$6.48 billion Paradip refinery planned for Orissa. [Read More] Source: Break B...

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Halliburton Pursuing $15 Billion In International Shale-Drilling Jobs

Halliburton Co. is pursuing $15 billion worth of drilling jobs in international shale formations, exporting technological expertise currently employed in U.S. unconventional oil and gas production, a company official said Wednesday. "One might argue these international opportunities represent the single...

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Maritime stocks hit hard at year-end, analysts say

Gloomy freight sector in the last quarter of the year is weighing down maritime transport companies, making brokerages recommend investor to dump maritime shares. [Read More] Source: Sai...

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Nigeria to File Charges Against Former U.S. Vice President Over Bribery

Nigeria will file charges against former U.S. Vice President Dick Cheney and officials from five foreign companies including Halliburton Co. over a $180 million bribery scandal, a prosecutor at the anti-graft agency said. [Read more] Source: Bloomb...

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Supertanker Rates May Rise on Demand, Africa, Dynacom Says

Ody Valatsas, chartering manager at Dynacom Tankers Management Ltd., comments on the market for supertankers lifting 2 million-barrel cargoes of Middle East crude oil. [Read More] Source: Bloomb...

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Greek and Asian owners put their faith in RINA

Greece is the leading shipowning nation in the world, in both historical and contemporary terms. In the present macro economic scenario, it is significant that the Greek merchant marine continues to look very robust, and indeed is regarded by many as one of the...

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ConocoPhillips Announces First LNG Shipment from Qatargas 3 Project

ConocoPhillips announced today that the first cargo of liquefied natural gas from the Qatargas 3 joint venture was shipped on Nov. 25, 2010. The cargo departed from Ras Laffan Industrial City, Qatar, bound for the Canaport LNG Terminal in Saint John, New Brunswick,...

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Dry bulk market weighed down by capesize “blues”

The negative sentiment currently undergoing in the capesize market has kept the dry bulk market’s benchmark, the Baltic Dry Index (BDI) on the “minus” area. Yesterday, the BDI ended down by 0.14% to 2,096 points, marking the fifth straight loss for the index. As it turns out, the gains witnessed in...

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Guatemala seeks bids for oil exploration zones

Guatemala on Wednesday began seeking bids from foreign oil companies interested in exploring four possible oil patches in the northern part of the country. Guatemala published the details of the tender rules on Wednesday in the official gazette but did not speculate...

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E.On Sells Stake in Gazprom For $4.5Bln

German energy concern E.On said Wednesday that it sold its 3.5 percent stake in Gazprom. VEB bought 2.7 percent, with settlement to come later this month. E.On has already sold the other 0.8 percent on the market and is earning 3.4 billion euros ($4.5 billion)...

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Ecopetrol Invited by Reliance, ONGC Videsh to Explore in India

Ecopetrol SA, Colombia’s state- controlled oil producer, has been asked by Reliance Industries Ltd. of India and ONGC Videsh Ltd. to jointly develop energy blocks in the South Asian country, Colombia’s ambassador to India said. India is offering 34 oil and gas exploration blocks in its ninth round of...

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Iraq expects to initial Akkas gas deal within days

Iraq expects to sign an initial contract for the Akkas gas field within days, a senior Iraqi oil official said on Wednesday, after a delay due to a row between the oil ministry and local authorities over exports. South Korea's KOGAS and Kazakhstan's KazMunaiGas won a deal on Oct. 20 to develop the western...

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Kazakh PM says investors behind oil disputes

Kazakhstan, seeking to boost oil output by 60 percent over the next decade, will not change contract terms with foreign oil majors unless investors fail to meet targets, the country's prime minister said on Wednesday. Karim Masimov said investors in Kazakhstan's...

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Northrop Wins Coast Guard Contract

Defense contractor Northrop Grumman Corporation (NOC - Analyst Report) received a $480 million contract to construct the fourth National Security Cutter (NSC) – WMSL 753, for the U.S. Coast Guard. Northrop will complete the construction work at its Pascagoula...

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S. KOREA-OWNED DANA PETROLEUM FINDS NEW OIL WELL IN EGYPT

An international consortium joined by Britain's South Korea-owned oil company Dana Petroleum plc has made a new oil discovery in Egyptian waters, the Korea National Oil Corp. (KNOC) said Thursday. The discovery marks the first successful search since South Korea's...

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Enovation Resources Agrees Successful Farm-out of Handcross Prospect

Enovation Resources an oil & gas exploration, development and production Company, is pleased to announce the execution of a Farm-Out Agreement between its 100% owned North Sea subsidiary, Sussex Energy Limited, and Valiant Petroleum Limited ('Valiant') relating to the Handcross prospect in Licence...

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Potential Cuts in Indonesian Oil and Gas Production

A new maritime law in Indonesia requiring companies to use Indonesian-flagged ships for transporting goods domestically could significantly cut oil and gas production in 2011. A significant production drop in oil production of up to 260,000 b/d and in natural gas production of up to 22% according to...

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65 charged with kidnapping oil workers in Nigeria

A magistrate in Nigeria's oil city of Port Harcourt has charged 65 people believed to be behind the recent abduction of some of over a dozen oil workers, police said Wednesday. "Sixty-five of them were charged on Monday. They are suspected of kidnapping seven...

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Chinese shipbuilding faces cost rising

China Association of the National Shipbuilding Industry (CANSI) issued monthly report on November 30th that Chinese shipbuilding industry faced severe problems this year such as labor cost rising, CNY appreciation, and material price surging.  [Read More] Source: Asia...

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Gulf Keystone spuds Shaikan-2 appraisal well in Kurdistan

Gulf Keystone announces the commencement of drilling operations on its Shaikan-2 appraisal well, on December 1, 2010, in Kurdistan.  This is the first deep appraisal well to be drilled on the Company's substantial Shaikan oil discovery. Gulf Keystone has...

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Amels launches the first Limited Editions Amels 212 ahead of schedule

Managing director Rob Luijendijk says this latest launch provides further confirmation that customers really appreciate the Amels combination of proven, high quality and speed of delivery. [Read More] Source: SuperYatchTimes....

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Statue Cruises orders fuel cell powered hybrid ferry

Statue Cruises, a subsidiary of Hornblower Cruises & Events., has signed an agreement with Derecktor Shipyards in Bridgeport, Conn., to complete the world's first hybrid ferry using hydrogen fuel by April 2011. [Read More] Source: Marine ...

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Ecopetrol Announces Oil Discovery in Meta Province

The Akacias-1 well is located in the municipality of Acacias, Meta province, and is part of the Company's CPO-9 Exploration and Production Contract with the National Hydrocarbons Agency. Ecopetrol, which has a 55% stake in the block, is the operator. The other 45% belongs to the Canadian company Talisman. "This...

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Seatrade Med opens in Cannes

The Seatrade Med Cruise Convention has debuted in France, with 2000 participants having streamed through the doors of the Palais des Festivals et des Congrès in Cannes by lunchtime on day one. The event will run over three days and play host to an industry conference,...

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S.KOREA'S STX OFFSHORE FORMS PLANT TIE-UP WITH U.S. FIRM

South Korean shipbuilder STX Offshore & Shipbuilding Co. (KSE:067250) said Wednesday that it has signed a deal to team up with KBR Inc., a U.S. engineering and construction company, in the offshore plant sector. [Read More] Source: Trading Mark...

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Sinopacific applies LTV shipbuilding concept

Many shipbuilding companies are investigating new approaches to reducing fuel consumption, carbon emissions and operating costs, to enhance safety and achieve environmentally neutral operation while maintaining ship speed and increasing load capacity. [Read More] Source:...

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LNG demand to outstrip supply-GDF Suez

Global liquefied natural gas demand will double by 2020, driven by increases in Asia, but supply will struggle to keep up over that period, GDF Suez's president of LNG said on Wednesday. Difficulties in getting new production projects online will lead to a sellers'...

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Ichthys LNG Project Releases Invitations to Tender for Onshore Gas Processing Facilities

Invitations to Tender for the major onshore construction packages for the Ichthys LNG Project (INPEX Browse, Ltd. 76%, Operator, and Total E&P Australia 24%) have commenced, President Director Australia, INPEX CORPORATION, Seiya Ito said today. [Read more] Source:...

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Gas Plus drops Eni deal on rules uncertainty

Italian gas company Gas Plus has not exercised an option to buy Eni offshore assets in Italy due to uncertainty over exploration rules, the company said sending its shares lower. Gas Plus said in a statement on Wednesday conditions did not exist at the moment for it to exercise an option to buy Societa...

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Franklin Templeton to start legal action over Romgaz

Fund manager Franklin Templeton said it would take legal action against Romania for forcing energy firm Romgaz to make a donation to the state budget, adding the government had damaged investor confidence. Romgaz, Romania's main gas producer, is one of the holdings of Fondul Proprietatea, a 3.4 billion...

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Aker Solutions wins NOK3.4bn subsea system deal for Asgard field

Norway's oil-service group Aker Solutions ASA said today it won a NOK3.4bn contract to supply the subsea gas compression system for the Asgard field in the Norwegian Sea. The contract was awarded by Norwegian oil giant Statoil ASA. The deal is conditional on a...

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Tap Oil Announces Zola-1 Commences

Tap Oil Limited is pleased to advise that the Stena Clyde semi-submersible drilling rig commenced drilling the Zola-1 well at this morning. The Zola prospect is a very large Triassic tilted fault block on trend with the giant Gorgon gas field.  One of the...

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Acergy, partner bag USD240m pipeline deal in Brazil

Oslo-listed oil service company Acergy SA and Brazilian Odebrecht Oil & Gas have won a USD240m contract from federal oil giant Petrobras to carry out works on the Sul-Norte Capixaba pipeline project offshore Brazil. Acergy's share of the contract is nearly...

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Norway: Eidesvik Offshore Confirms Vessel no 2 with Kleven Maritime

In July this year Kleven Maritime entered into a contract with Eidesvik Offshore for the delivery of one advanced Platform Service Vessel of the VS 489 LNG design, with one optional vessel to be declared before December 1st 2010. This option has now been declared....

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BG Group hits gas with second well off Tanzania

BG Group has discovered gas with its second Tanzanian exploration well, Chewa-1, the company announced today. The well, located in Block 4 approximately 80 km offshore southern Tanzania in a water depth of around 1 300 m, is some 8 km northwest of BG Group's Pweza-1...

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Lundin Petroleum finds oil in Norwegian Sea

Swedish company Lundin Petroleum AB said today that it has found oil by drilling the 16/1-4 wildcat on the Apollo prospect in the Norwegian Sea. The well is located in production licence (PL) 338, where Lundin Petroleum, via its wholly-owned unit Lundin Norway...

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China’s order cancellations dive

According to statistics of China Association of the National Shipbuilding Industry (CANSI), the order cancellations of Chinese shipbuilding industry slumped greatly. [Read More] Source: Asia...

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Dutch shipbuilder launches the first LIMITED EDITIONS AMELS 212 ahead of schedule

Emerging into the light is the first LIMITED EDITIONS AMELS 212, the largest yacht yet produced to the Dutch shipyard’s successful LIMITED EDITIONS formula. [Read More] Source: BYM Product and Industry N...

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COSCO Dalian wins deals worth over US$110m to build 3 bulk carriers

COSCO Corporation (Singapore) Limited said on Wednesday that COSCO (Dalian) Shipyard Co Ltd has secured contracts valued over US$110 million to build three bulk carriers of 82,000 dwt each. [Read More] Source: The Business Ti...

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Drydocks World Marks National Day By Delivering Historic Drilling Rig After Repairs

Al Ittihad is Abu Dhabi-based National Drilling Company's first offshore rig and its successful restoration is another major achievement for Dubai's global shipyard [Read More] Source: za...

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Greece agrees 15-year freeze on civilian shipyards to end EU case

Brussels - Greece has agreed to end the civilian activities of its main shipbuilding company for 15 years, in order to end a court case over illegal aid with the European Union, officials in Brussels confirmed Monday. [Read More] Source: m&am...

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Research launched into titanium shipbuilding

The University of New Orleans (UNO) has been awarded a three-year $4.8 million grant from the Office of Naval Research to advance the science and technology of titanium shipbuilding. [Read More] Source: Motros...

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