India Oil Min:Cairn-Vedanta deal to be finalised by March

The Indian government will decide by end-March 2011 whether to allow Cairn Energy's to sell a majority stake in its Indian unit to Vedanta Resources, Oil Minister Murli Deora said on Monday. [Read more] Source: Reut...

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Expelled Russian spy hired by Rosneft

One of the 10 Russian spies expelled from the United States this summer has been hired as a senior adviser with the country's state-run oil giant Rosneft, Kommersant cited company sources as saying Monday. [Read more] Source: ...

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Russia, Japan agree on joint LNG plant in Russian Far East

Russia and Japan have agreed on building a joint liquefied natural gas plant in Vladivostok in the Russian Far East, the Japanese newspaper Yomiuri reported. The plant will begin operation in 2017 and produce more than 5 million tons of liquefied natural gas a...

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Croatia wants to protect ownership rights in INA

Croatia said on Friday it could seek some fresh legal solutions to protect its rights as a major shareholder in the oil and gas group INA, of which Hungary's MOL wants to become the majority owner. The government did not specify what kind of solutions it might seek. It said in a statement it wanted...

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Setback for Petrobras as MEO declares 'no gas' at Artemis-1

MEO Australia said today a key exploration well offshore Western Australia didn't find any gas, sending its shares down nearly 65 per cent. MEO said the Artemis-1 exploration well near the established Pluto and Wheatstone gas fields didn't find hydrocarbons in...

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Ecuador to auction oil fields of companies it forced out

Ecuador will auction several oil fields including those previously held by foreign companies forced out of the country last month for refusing to accept new contract terms, the natural resources minister said on Saturday. It will be the first tender of oil real estate since left-wing President Rafael...

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GE to Agree $1.2 Billion Takeover of Oil Firm Wellstream

General Electric could unveil a 755 million pound-plus ($1.2 billion) takeover of British oilfield services company Wellstream Holdings as early as Monday, the Financial Times said on Sunday. [Read more] Source: ABC N...

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Pirates fire RPGs to take control of bulker off India

Nairobi: Somali pirates fired rocket propelled grenades and small arms before seizing a cargo ship and its 24 Filipino crew in the Indian Ocean, the EU's anti-piracy force said Sunday. [Read More] Source: Seatrade A...

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Team Resources, Inc. Begins Drilling Phase of Grand Summit Fund I, LP

Team Resources, Inc., a private, independent oil and gas company, is excited to announce it has moved a rig onto the first of eight planned wells on a 4,200 acre development associated with the Grand Summit Fund I, LP, located in Cowley County, Kansas. The first...

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US To Accept Comments On Shell's Alaska Plans Through Dec 23

The U.S offshore-drilling agency said on Friday that it would accept comment through Dec. 23 on Royal Dutch Shell PLC's (RDSA) plans to drill in the Beaufort sea off the coast of Alaska, giving the public a chance to comment on the controversial plan. [Read more] Source: Nas...

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Shell sells Oxy South Texas tight gas fields for $1.8B

Shell has agreed to sell a group of gas fields in South Texas to OXY USA, Inc., a subsidiary of Occidental Petroleum Corp., for approximately $1.8 billion, effective January 1, 2011. The sale is a further step in Shell's ongoing portfolio restructuring and focus on capital efficiency.  "We are...

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U.S. Rig Count Rises by 10 to 1,723, Baker Hughes Says

Oil and natural-gas rigs operating in the U.S. rose by 10 to the highest level since December 2008, led by an increase in oil drilling, according to data published by Baker Hughes Inc. The total rig count climbed 0.6 percent to 1,723. The combined oil and gas rig count hit a 22-year high in 2008, peaking...

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Gazprom tower to be moved from central St. Petersburg

St. Petersburg’s historic skyline looks safe, after Gazprom’s planned sky-scraper has been given the push from the northern capital’s centre. Petersburg City Hall announced on Wednesday that a new place to build will be decided soon, one week after mayor Valentina...

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US diplomat believed Eni bribed Uganda ministers

A U.S. ambassador to Uganda prodded his government to impose a travel ban on Ugandan cabinet ministers because he believed they had been bribed by Italian oil group Eni, a leaked U.S. diplomatic cable said. In a December 17, 2009, cable published by the WikiLeaks...

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Shipbuilding enters high cost era

Currently the influence of global financial crisis still existed. Considering CNY appreciation, labor cost rising, low ship price and new shipbuilding standards, actually the shipbuilding industry has entered high cost era. [Read More] Source: Asia...

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SandRidge nets $110M in asset sale

SandRidge Energy Inc. has kicked off an asset divestiture program meant to help fund its $1.1 billion drilling program for 2011. The company on Friday announced the sale of its Bone Springs asset package in Texas’ Permian Basin for $110 million. [Read more] Source: New...

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DSME hands Wood Group Angola work

Wood Group's Alliance Engineering has been selected by EPC contractor Daewoo Shipping and Marine Engineering (DSME) to provide jacket and topsides engineering and design for Chevron's South Nemba Auxiliary (SNX) project. [Read More] Source: oilvo...

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Regal in final stage talks on 76 mln stg approach

Oil explorer Regal Petroleum  said it was in final stage talks for a takeover which would value it at 76 million pounds ($120.4 million), boosting shares in the troubled company. Ukraine-focused Regal, which said in November it was involved in preliminary discussions with a number of parties after...

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ABB wins marine orders worth $35 million

ABB has won orders worth $35 million to provide complete power systems, drilling drive and propulsion systems for two new deep water drill ships to be built by Samsung Heavy Industries in South Korea. [Read more] Source: The Motors...

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KNOC eyes $2-3 billion in oil assets by 2012

State-run Korea National Oil Corp (KNOC) plans to spend between $2 billion and $3 billion to add 100,000 barrels per day (bpd) of crude production capacity by 2012, and is looking at 5-6 oil assets, a top executive said. [Read more] Source: Reut...

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Samsung Engineering Likely to Win Bid for Qatar Gas Plant

According to industry sources, a consortium including Samsung Engineering and the Japanese firm Chiyoda Corporation are expected to win a bid to build onshore facilities for the Barzan gas fields in Qatar. [Read More] Source: arit...

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IEA Raises 2011 Global Oil Demand Forecast for a Third Month, Citing China

The International Energy Agency raised its 2011 global crude oil demand forecast for a third month on consumption gains in North America and China. Crude use worldwide will average 88.8 million barrels a day next year, about 260,000 barrels more than its previous forecast, the Paris-based adviser said...

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Italy's Eni takes Barnett knowledge to Polish shale gas play

Armed with knowledge from its 2009 JV with Quicksilver Resources in the Barnett shale, Italy-based Eni SpA is entering the European unconventional gas area by agreeing to acquire Minsk Energy Resources and become operator of three licenses in the Polish Baltic...

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Punj Lloyd secure orders worth INR 14 billion

Punj Lloyd has been awarded two repeat Oil and Gas orders worth INR 14.61 billion. As per report the company secured the first contract worth INR 12.92 billion in Thailand from PTT Public Company, a Thailand state-owned oil & gas major for onshore gas pipeline project. [Read more] Source: Steel...

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Petrobras, Pampa Energia team to develop El Mangrullo gas field in Neuquen, Argentina

Pampa Energia S.A. has entered into an investment agreement with Petrobras Argentina S.A. (NYSE:PBR) for the El Mangrullo field located in the province of Neuquen in Argentina. Under the agreement, Pampa will acquire, subject to the fulfillment of certain conditions precedent, 43% of the right to freely...

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SAL Puts "Svenja", the World's Largest Heavy Lift Vessel, Into Service

With a lifting capacity of a total of 2,000 tonnes and speed of 20 knots, it’s the world’s largest heavy lift vessel to date: SAL Schiffahrtskontor Altes Land puts the first of two new buildings of Type 183 into service. The company, which ranks among the leading...

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Sinopec want to create the world’s first VLCC fleet

The first 11 months of this year, Sinopec, China Merchants shipping carrier has more than 10 million tons of crude oil imports more than doubled last year, said Li Jianhong, chairman of China Merchants ships, the two companies will further strengthen mutually...

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Baltic Index Declines as Ship Supply Forces Owners to Cut Rates

The Baltic Dry Index, a measure of commodity-shipping costs, retreated for a second consecutive week as ship owners cut rates because of surplus vessel supply. [Read More] Source: Bloomb...

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WSRW asks international banks to suspend Kosmos funding

Western Sahara Resource Watch (WSRW) has asked international banks to halt further funding of the US oil firm Kosmos Energy. The company is exploring for oil offshore occupied Western Sahara. Should Morocco – through its US partner Kosmos Energy – discover oil...

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Ship owners top the charts in ship purchasing

After a break during 2009, ship owners from Hellas have returned to the top of the world in terms of ship acquisitions, especially when it comes to second hand vessel investments. According to the latest monthly report from N. Cotzias Shipping Group, Hellenic ship owners this year have been responsible...

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Natural gas is key for Europe to reach climate target at lowest cost

Europe can meet its 2050 ambition of reducing its CO2-emissions by 80 percent compared to 1990, in a faster and more cost-efficient way if natural gas plays a significant part in the energy mix going forward.  In a report initiated by a group of experienced...

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VAALCO Starts First Production from Etame 7H Development Well Offshore

VAALCO Energy, Inc.  provided an update on its horizontal development well (ET-7H) in a known separate fault block in the Etame field and on its exploration well (ETOMG-1) on the Omangou prospect, both wells located offshore Gabon. The Company has laid and...

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BP To Delay Libya Offshore Drilling To 2011 With New Rig

BP PLC Friday said it will delay its plans to drill offshore Libya until next year, citing a decision not to use its original drill rig for "operational reasons." "We're changing the rig," a company spokeswoman told Dow Jones Newswires. "Current plans are to begin...

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Helix Provides Update on Deepwater Containment System

Helix Energy Solutions Group, Inc. notes that certain news articles have been reported regarding the Company's Deepwater Containment System (DCS). The Helix DCS provides a solution that centers on three vessels, the Helix Producer I, the Q4000 and the Express,...

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Bounty Oil & Gas NL New Seaclem 1 – Final Permits Received

Bounty Oil & Gas NL (“Bounty”) is pleased to announce that the joint venture has received approval from the Commonwealth Department of Sustainability, Environment, Water, Population and Communities (DSEWPC) for the drilling of New Seaclem-1, in PEP 11 offshore...

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Falklands far from being considered hydrocarbons provin

Despite recent oil finds by UK-based oil firms Rockhopper Exploration (AIM: RKH) and Desire Petroleum (AIM: DES), the Falkland Islands are still a "long way short" of being considered an oil producing region, according to Nathan Piper, oil analyst with investment...

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PSA Norway Audits Transocean Offshore Management

During the period of 1-4 November 2010, the Petroleum Safety Authority Norway (PSA) carried out an audit of Transocean Offshore Ltd’s (Transocean’s) management of major accident risk and handling of barriers. The audit activity was started with an all-day meeting...

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Timor takes aim at Woodside over costs

EAST Timor says Woodside Petroleum's $2 billion cost blowout at Pluto gasfield augurs badly for the planned of the Greater Sunrise field. Woodside and its joint venture partners, Shell and ConocoPhillips, in April decided to develop the fields through a $US10 billion-plus floating LNG development, angering...

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Havyard strengthens focus in Brazil

Havyard Group AS has established Havyard South America Ltda in Brazil and appointed Kjell-Peder Overvåg as general manager on 1 December. This is part of Havyard’s drive to strengthen its efforts and focus in the Brazilian market and the ability to provide much...

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Ulsteins X-BOW Vessel Stars in Film for Children

“The toughest vessels in the world are the x-bows. And in the film world, the villain is the toughest. Therefore, an x-bow vessel is the villain in the latest ‘Elias’ animation. And that's why we invited you to the cinema tonight”. [Read more] Source: Ulstein...

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Aker to use Expro connectors offshore Brazil

Aker Solutions in Brazil has contracted Expro Connectors & Measurements to supply medium-power subsea electrical connections. The systems are destined for either new subsea boosting systems from satellite wells (MoBOs). Delivery is to last over the next eight...

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Tougher US ‘magic pipe’ rules weighed

US PENALTIES for violating MARPOL regulations on bilge water might have to be toughened, a top US Coast Guard official has told Fairplay. US PENALTIES for violating MARPOL regulations on bilge water might have to be toughened, a top US Coast Guard official has told Fairplay. [Read More] Source: Safety...

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China receives first export LNG carrier order from MOL

Shanghai: Hudong-Zhonghua Shipbuilding (Group) will build the country’s first LNG carrier export order for Japan’s Mitsui OSK Lines. 

Hudong-Zhonghua is China’s sole LNG shipbuilder at present. The yard has been selected by MOL, after an exhaustive search across China by the Japanese giant, to bouild...

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Navy ship thwarts pirate attack on merchant vessel off Yemen

A pirate attack on a merchant vessel in the Gulf of Aden has been thwarted by an Indian warship, which intercepted a dhow with 31 sea brigands on board. [Read More] Source: ZEE N...

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Tanker spot fixtures increase by 5.5% during November says OPEC report

In its latest monthly report released Friday from OPEC, the organization’s spot fixtures were increased by 5% on a monthly basis to reach 18.8 million of barrels per day, while on annual basis the increase was more than 18% on the back of increased output. [Read More] Source: Hellenic Shipping N...

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SAL Chairman reappointed

Australia: The Board of Directors of Shipping Australia (SAL) has reappointed Michael Phillips as Chairman for another twelve months, announced SAL CEO Llew Russell. [Read More] Source: Baird Marit...

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Tandem Telescopic Lift at Cuxhaven

Mammoet has erected a 600-ton dock crane at the site of a new facility for the production of components for offshore wind farms at the Port of Cuxhaven in Germany. The gantry crane has two main girders with a length of 236 feet and weight of 250 metric tons each,...

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Somali pirates seize ship off Tanzania

Somali pirates have hijacked a Liberian-flagged vessel with 23 Burmese crew members on board, the European Union anti-piracy mission says. "The merchant vessel Panama, operated by a US company, was en route from Dar es Salaam in Tanzania to Beira in Mozambique...

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Our heroes on a hijacked ship

The extraordinary news of the hijacking of Bangladeshi ship MV Jahan Moni, belonging to Brave Royal Ship Management, has shocked us. The merchant ship was carrying nickel and was sailing from Indonesia to Greece after refueling at Singapore. According to reports,...

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Disney Dream cruise, all set to sail

Disney Dream, the third cruise ship of Disney Cruise Line, is all geared up for her Atlantic voyage to the United States on December 19, as the cruise line took delivery of the third ship in its fleet on Thursday. [Read More] Source: IBTrave...

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Japan starts Q1 2011 SBQ plates export talk with S Korea

TEX reported that some Japanese integrated steelmakers started negotiations at the end of last week on their export deals of ship plates with South Korea's major shipbuilding companies for shipments in the January to March quarter of 2011. The contents of offered terms are unknown, but the Japanese...

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Mitsui Engineering plans Tunisia solar plant-sources

Mitsui Engineering & Shipbuilding Co (7003.T: Quote) plans to build a solar power plant in Tunisia, joining a global race to develop clean energy in the deserts of North Africa, two sources with direct knowledge of the matter said. [Read More] Source: Reut...

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Shipyards plan superlong vessels for Panama Canal

Daewoo Shipbuilding & Marine Engineering Co. had been gearing up for an order book of average-size vessels for next year. Instead, the company got more and more queries about building ships that are longer than the 1,063-foot-long Eiffel Tower. [Read More] Source: SFG...

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LNG shipping now a global industry on rising demand

LNG shipping has emerged as a global industry as demand for clean energy rises, and resource-rich countries invest heavily in production facilities. [Read More] Source: Gulf Ti...

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