China, PDVSA Sign Crude Oil, Refining and Gas Deals

China and Venezuela signed energy agreements to pump crude in the Orinoco Belt and extract natural gas from offshore Venezuelan wells as part of investment plans worth $40 billion, Oil Minister Rafael Ramirez said. [Read more] Source: Bloomb...

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US oil spill commission considers nuclear industry safety model

The staff of the National Oil Spill Commission recommended Thursday that the oil and natural gas industry form a separate, independent organization to dramatically raise safety standards and police the companies drilling on the US Outer Continental Shelf. [Read more] Source: Pla...

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Argentina, U.K. Dispute Over Falklands May Reignite After Oil Discovery

Desire Petroleum Plc, the U.K. energy explorer, said a well off the Falkland Islands made the region’s second discovery this year, threatening to reignite a diplomatic dispute between the U.K. and Argentina. [Read more] Source: Bloomb...

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Noble Corporation Provides Update on Noble Jim Day

Noble Corporation today announced that a subsidiary has received notice from Marathon Oil Company (Marathon), its customer for the ultra-deepwater semisubmersible Noble Jim Day, of Marathon's intent to exercise its right of termination if the unit does not commence...

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Statoil Awarded Licences Offshore Canada

The licences include a Significant Discovery Licence (SDL) and three Exploration Licences (ELs) off the coast of Newfoundland, awarded through a land sale issue by the Canada-Newfoundland and Labrador Offshore Petroleum Board (C-NLOPB). “We are very pleased to...

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Pemex Sees Supreme Court Support for Oil Contracts

Petroleos Mexicanos, the state-owned oil company, said that the preliminary votes from Mexico’s Supreme Court mean that the new performance-based contracts are legitimate. In a preliminary vote, nine Supreme Court justices upheld a regulation allowing Pemex to...

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Pirates scheme leaked

THE SCANDAL over WikiLeaks finally touched shipping security today, in a disclosure about piracy and Blackwater Worldwide. A confidential US State Department memo – issued by the internet group specialising in documents from anonymous sources – quoted officials noting that Blackwater International “does...

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Brazil's Congress Makes Petrobras Sole Pre-Salt Operator in Revised Laws

Brazil’s lower house of Congress approved new oil regulations that will increase government control over the energy industry and reduce competition against Petroleo Brasileiro SA, the state-controlled producer. The regulations approved yesterday allow Petrobras, as the company is known, to be sole operator...

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Chevron Corp. awards development contracts for offshore natural gas project in Indonesia

Chevron Corp. said Thursday it has hired engineering and design firms to work on its major deepwater natural gas operation off the Indonesian coast. [Readm more] Source: Canadian Busin...

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Havyard delivers Global Offshore PSV

A Havyard 832 L SE platform supply vessel (PSV) was recently delivered in Bergen to Global Offshore Services B.V., a wholly owned subsidiary of Garware Offshore Services Ltd in Mumbai, India. [Read More] Source: Motors...

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Fog disrupts transportation

FOG enveloped the city and severely disrupted traffic early yesterday morning, but the temperature rose rapidly as the day wore on, reaching nearly 20 degrees Celsius, weatherman said. Continuous foggy days have given rise to more respiratory disease symptoms among locals, doctors said yesterday. [Read...

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Breaking the bottleneck on the Bohai Sea

The port city of Huludao, on Liaoning's coast, passed a national inspection and was certified on Nov 23, putting an end to the long history of no foreign ships stopping there. [Read More] Source: People's Daily Onl...

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Asian container terminals have highest productivity: Drewry

A report from research firm Drewry says that container terminals in Asia and the Middle East tend to achieve more intensive use of their resources, including berths, cranes and land, than European or North American terminals. [Read More] Source: Seatrade A...

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Panama Canal Authority to increase tolls

The Panama Canal Authority (ACP) has announced that a new price and toll structure within the Panama Canal will come into effect on January 1, 2011. [Read More] Source: Port Wo...

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BPZ Energy Brings Corvina Oil Field Into Commercial Production

BPZ Resources, Inc. announces the Company has placed the Corvina oil field, located in offshore Block Z-1 in northwest Peru, into commercial production. The Company has started operating the gas compressor at the CX-11 Corvina platform to re-inject the associated...

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AKER Solutions establishes factory in South Korea and signs prestigious deck machinery contract

Aker Solutions has set up a new manufacturing facility in South Korea for the production of Pusnes deck machinery(TM). Aker Solutions has among several major contracts signed a contract for the delivery of Pusnes deck machinery(TM) for the prestigious "Pieter...

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Ensco sublets ENSCO 8503 rig

Ensco plc says is has sublet its new ultra-deepwater semisubmersible drilling rig. The rig is scheduled to begin sea trials and upon acceptance will mobilize to French Guiana to drill for Tullow. [Read More] Source: Offshore Magaz...

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Russia's Bashneft gets license for Trebs, Titov deposits without auction

Bashneft, the mid-sized Russian oil company belonging to AFK Sistema holding firm, has won tender for the license to develop the huge Trebs and Titov deposits without an auction, the Natural Resources Ministry said on Thursday. The company offered to pay 18.476...

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Antero Resources to buy Marcellus assets

Antero Resources LLC, a private Denver independent, is buying Bluestone Energy Partners, a private company with Marcellus shale acreage in West Virginia and Pennsylvania.  The transaction closed on Dec. 1. Antero paid $93 million, assumed $25 million of subordinated debt, and issued 3.8 million...

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Canadian Natural sets 2011 budget of up to $6 billion

Canadian Natural Resources Ltd. is declaring an end to the era of megaprojects, opting instead to tackle the next phase of its Horizon oilsands mine in 46 miniprojects that can easily be adjusted to suit the economic environment. “We’re doing it the way we are,...

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India Plans to Double Investment in Port Development Projects

India is set to double its investment in infrastructure projects from $514 billion to $1 trillion partly to speed up development of local ports projects. [Read More] Source: Dredging To...

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Nigerian military pursues militants in oil region

Nigeria's military pursued militants in the country's main oil-producing region on Thursday after raiding three camps allegedly run by a notorious gang leader blamed for a series of crimes. The raids in southern Delta state targeted camps believed run by a militant...

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E.ON Ruhrgas says in talks to cut gas prices

E.ON Ruhrgas  is in talks to renegotiate its long-term supply deals to reflect lower spot gas prices due to weak demand in Europe, an executive from one of Europe's biggest gas buyers said on Thursday. [Read more] Source: Reut...

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Worlds Top Container Port Sees Freight Levels Up - But Something Smells Bad

During October Shanghai cemented its position as the world’s foremost port with an 8%+ jump in containers handled against the previous year meaning in excess of 2.35 million TEU’s of freight transited the city during the month. The Shanghai International Port...

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PetroChina Parent to Expand Oil, Gas Pipeline Network by 80% in 2011-2015

China National Petroleum Corp., the country’s largest energy company, will expand its network of oil and natural gas pipelines by 80 percent in the five years through 2015 to supply the world’s fastest-growing major economy. The parent of Hong Kong-listed PetroChina Co. plans to add 40,000 kilometers...

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Freight Industry Big Guns Come Out Against Container Overloading

The World Shipping Council and the International Chamber of Shipping have urged the International Maritime Organization (IMO) to establish an international legal requirement that all loaded containers be weighed at the marine port facility before they are stowed...

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Design firm enters newbuild sector

A Shenzhen-listed ship design firm is moving into shipbuilding. Shanghai Bestway Marine has announced that its subsidiary Bestway Technology has bagged a contrazcct for RMB119m to design and construct a pair of 6,000 hp multi-purpose offshore supply vessels for...

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Malaysia's Petronas inks HOA with subsidiary for LNG terminal

Malaysia's state oil company Petronas has signed a heads of agreement with its subsidiary, Petronas Gas, to develop the LNG terminal on the west coast and provide regasification services, Petronas Gas said in a filing to the local stock exchange, Bursa Malaysia, on Wednesday. [Read more] Source: Pl...

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CMA CGM to Impose New Rates, Peak Surcharges

CMA CGM announced rate increases and new peak season surcharges that will take effect in the next month or two on several of its trade lanes. [Read More] Source: Journal of Comme...

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DryShips Announces $325 Million Bridge Loan Facility

DryShips Inc. (NASDAQ: DRYS) (the "Company" or "DryShips"), a global provider of marine transportation services for drybulk cargoes and off-shore contract drilling oil services, announced today that its subsidiary, Drillships Hydra Owners (the owning company of...

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Chemical tanker sector less “toxic” says DVB Bank

In a new report issued by DVB Bank, chemical tanker markets have managed to reduce the level of “toxicity” in terms of demand for cargoes and projected forward curves during the course of the previous year. [Read More] Source: Hellenic Shipping N...

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Ithaca Energy Inc.-Athena Field: Flowline Installation and FPSO Mooring System Contract Awarded

Ithaca Energy Inc. and its wholly owned subsidiary Ithaca Energy (UK) Limited, an independent oil & gas company with exploration, development and production assets in the UK sector of the North Sea, announces that the contracts for the installation of subsea...

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Qatargas 3 ships first LNG to Canaport LNG Terminal in Canada

ConocoPhillips reported that the first cargo of liquefied natural gas (LNG) from the Qatargas 3 (QG3) 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...

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Beach Energy Limited Completes Due Diligence On Impress Energy

Beach Energy Limited is pleased to announce that it has completed due diligence on Impress Energy within the timeframe contained in the Merger Implementation Agreement for its proposed merger with Impress. Beach Managing Director Reg Nelson said: "We are pleased to have met our due diligence requirements...

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Statoil starts production from Vega offshore Norway

Statoil reported that production commenced on the Vega gas and condensate field off Norway's west coast. This will be an important contribution to Statoil's production on the Norwegian shelf.  “The Vega field is a new and exciting production area for Statoil,...

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VLGC newbuilding orders recover

Fresh orders for very large gas carriers (VLGC) have resumed in earnest since this year. Since the Lehman Shock, the VLGC market situation had undergone the severe recession without new orders placed. [Read More] Source: Asia...

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Natural gas community pledges support for hydraulic fracturing chemical registry

America's Natural Gas Alliance (ANGA), the Independent Petroleum Association of America (IPAA) and the American Exploration & Production Council (AXPC) support the efforts of the Ground Water Protection Council (GWPC) and the Interstate Oil and Gas Compact...

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Ship recycling industry booms

They used to be called “ship-breakers,” but that term is now outdated. United States ship recyclers today are consummately green and must comply with a slew of strict regulations, including those from the United States Environmental Protection Agency (EPA). [Read More] Source: American Recyc...

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ABG International buys 4.5 lakh shares ABG Shipyard

ABG Shipyard has touched an intraday high of Rs 438.80 and an intraday low of Rs 396. At 14:36 hours the share was trading at Rs 432, up Rs 15.65, or 3.76%. [Read More] Source: Stoc...

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National Drilling Company embarks on fleet expansion

Abu Dhabi-based National Drilling Company (NDC) is on a fleet expansion plan as the oil and gas rig industry responds to increasing demand, a company official said. [Read More] Source: Gulfn...

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Great Offshore ready to sail

Though Great Offshore’s second-quarter financial numbers were disappointing, the outlook for the coming fiscal looks better on higher utilisation of its assets. The company, one of the largest integrated offshore oilfield services providers in India, on Wednesday informed the exchanges that it had bagged...

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Singapore's Keppel gets $360 mln contract for 2 jackups

Singapore's Keppel Corp , the world's biggest oil rig builder, said on Thursday it has signed a deal to build two jackup rigs worth $360 million. [Read More] Source: Reut...

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TTS, Dalian strike drilling equipment agreement

The TTS Group has entered into a cooperation agreement with Dalian Shipbuilding Industry Corp. (DSIC) of China for the supply of drilling equipment to offshore operators. TTS will design, market, commercialize, and deliver drilling packages to DSIC projects. [Read More] Source: PennEne...

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Vinashin Seeks Loan Payment Freeze

Vietnam's state-run Vietnam Shipbuilding Industry Group is asking its creditors for a freeze on a $60 million loan repayment due Dec. 20 in a move that could have broad ramifications for the country's financial standing. [Read More] Source: The Wall Street Jour...

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Master shipbuilders will be honored for decades of service

TIM ISBELL/SUN HERALD LeRoy Williams is a mainstay at the Northrop Grumman Pascagoula shipyard, having worked there for more than 50 years LeRoy Williams has spent most of his life working at the shipyard. These days, the 78-year-old works in the rod shop,...

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