Chevron sanctions $4B Big Foot oil and gas development in deepwater US Gulf of Mexico

In a strong vote of confidence for the future of the oil and gas industry in the US Gulf of Mexico, super major Chevron has sanctioned the $4 billion development of the Big Foot project in the deepwaters of the US Gulf of Mexico.  "Sanctioning Big Foot underscores...

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Russian investment into Junin-6 Block project may reach $24 bln

The National Oil Consortium (NOC) group of Russian energy giants plans to invest about $24 billion in the development of Junin-6 Block project in the oil-rich Orinoco River belt in Venezuela, Yuri Lyovin, head of the project for Gazprom Neft, said on Thursday. [Read more] Source: RIA Novo...

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Nabors sees 2/3 of US rigs targeting liquid in '11

Nabors Industries Ltd, the world's largest land-rig operator, expects two-thirds of its U.S. rigs outside Alaska to drill for oil or other liquids in 2011, according to an investor presentation. [Read more] Source: Reut...

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Orion Oil & Gas Corporation Announces 2011 Capital Program

Orion Oil & Gas Corporation announced today that its Board of Directors has approved a capital spending program of $35 million in 2011 for production development operations (the "Capital Program") at its Alberta properties. The Capital Program includes the...

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Shipbuilding industry sees polarization

Large shipyards and ship block suppliers based in South Jeolla Province, Korea are expected to see an economic recovery while small- and medium-sized yards would continue to have difficulties in their management further. [Read More] Source: Asiasi...

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‘We had to build export ships’

Zhejiang Jingang Shipbuilding became the largest shipyard in Taizhou Zhejiang Province of China, in terms of export orders. [Read More] Source: Asia...

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Austal unveils massive passenger catamaran

AUSTAL unveiled its massive 133-metre catamaran last week, the biggest ever built at its Henderson shipyard. [Read More] Source: in my Commun...

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Hellenic Petrol sells drilling rights in Egypt

Greece's biggest refiner Hellenic Petroleum has sold rights to drill for hydrocarbons in Egypt as it focuses on its core downstream activities to cope with recession at home, it said on Thursday. Hellenic sold 70 percent of its exploration rights in Egypt's West Obayed region to local operator Vegas...

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Russian shipbuilders ask for $100 million to complete frigates for India

Russian shipbuilding plant Yantar has asked Russia's state arms exporter, Rosoboronexport, for an additional $100 million to complete construction of three frigates for the Indian Navy, Russian business daily Kommersant said on Thursday. [Read More] Source: RIA...

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Japan Shipbuilders Take More Orders in Dollars

As the yen stubbornly remains near a 15-year high, Japanese shipbuilders are coming under pressure to settle a bigger chunk of their contracts in dollars as their mainly domestic customers increasingly demand it. [Read More] Source: The Wall Street Jour...

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Denmark gets gas via Germany for first time: Gasunie

Gas has flowed for the first time from Germany towards a northern European country, Denmark, breaking with decades in which the fuel has been piped in the other direction, Gasunie Deutschland said on Thursday.  [Read more] Source: The Time of In...

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SCHEUERLE offers new scale models

Model collectors will be pleased to hear that from the beginning of 2011, new SCHEUERLE InterCombi scale models will be available. [Read More] Source: Heavy L...

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Australia is still a prime market say Volga-Dnepr

Rules which came into force in Australia in September with the aim of preventing 'marginally noise-compliant' aircraft from flying in or out of the country's main airport - see page 21 of HLPFI Issue 16 - do not appear to be having a major impact on operators. [Read More] Source: Heavy L...

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Tidal Power

Tidal power, also called tidal energy, is a form of hydropower that converts the energy of tides into electricity or other useful forms of power. The first large-scale tidal power plant (the Rance Tidal Power Station) started operation in 1966. Harnessing the...

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Floating LNG Converters ‘Biggest New Thing,’ Teekay Chief Says0December 16, 2010

Liquefied-natural-gas tankers that can convert the liquid to gas onboard will be in increasing demand in the next 10 years as rising electricity production boosts consumption of the fuel, according to the head of North America’s largest LNG tanker owner. [Read...

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Spill feared from ship grounded in India

SALVORS are attempting to prevent an oil spill from a box ship that grounded in the Kolkata channel. The 916teu Tiger Spring collided with the 1,016teu box ship Green Valley in the Hooghly River in West Bengal on 23 November. It later grounded channel and has...

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27 sought in sinking

RESCUERS are reportedly looking today for 27 crew missing in the sinking of a Vietnamese general cargo ship. Phu Tan sank in the South China Sea off the coast of the southern Chinese island of Hainan, Vietnamese officials told the AFP news agency. An official from Vietnam's National Search and Rescue...

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Hempel opens its largest factory

Guangzhou: Leading protective coatings supplier Hempel officially opened a new, state-of-the-art manufacturing facility this week in Guangzhou, China. Hempel’s new factory will help the company meet the increasing demand for coatings in the region. The factory...

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Vinashin cannot pay debts, Moody’s cuts nation’s credit rating

Hanoi: Vietnam's beleaguered state-run shipbuilding company does not have enough money to make a $60m loan payment next week, and has asked foreign creditors for more time to pay, state-run media reported. [Read More] Source: Seatrade A...

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New Danish shipowners’ association

Rederiforeningen af 2010 will be a reality as from January 1, 2011, after two extra ordinary general assemblies yesterday unanimous decided to merge the two shipowners’ associations Rederiforeningen af 1895 og Rederiforeningen for Mindre Skibe. [Read More] Source: ship...

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Bankers Petroleum restores production at Albania field

Bankers Petroleum Ltd said oil production at its Patos-Marinza oilfield in Albania, which had been shut due to flooding, has been fully restored. Earlier this month, the company said it had restored 67 percent of the oil production at the field. [Read more] Source: Reuter...

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Helsinki shipyard to build two icebreaking supply vessels for Sovcomflot

Russia's Sovcomflot has ordered two Multifunctional Icebreaking Supply Vessels (MIBSV) from Arctech Helsinki Shipyard Oy, the 50/50 joint venture formed last week by STX Finland and United Shipbuilding Corporation. The order is worth $200 million and the project...

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Van Oord Commissions the Construction of a Second Self-propelled Cutter Suction Dredger

Marine contractor Van Oord has commissioned the construction of a second self-propelled cutter suction dredger to IHC Merwede. This new vessel will be the sister to the Athena, the self-propelled cutter suction dredger that is currently under construction. Like...

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FMC Technologies awarded $95M North Sea contract with Norske Shell

FMC Technologies Inc., a provider of technology solutions for the energy industry, has signed an agreement with Norske Shell for the manufacture and supply of subsea production equipment for the Ormen Lange development project in the North Sea. The award has a...

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Diesel fuel’s price reaches its latest two-year high

The average retail price of diesel fuel nationwide rose to its latest two-year high—the third time it has done so in the past month—climbing 3.4 cents to $3.231 a gallon, according to US Department of Energy information. [Read More] Source: Break Transpor...

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Wintry Challenge for Turbine Transport

Maxlines Forwarder of Taiwan and Shanghai Ocean Knight Shipping, based in mainland China, recently transported wind turbine blades from Lianyungang, China, to the 250-megawatt Zhaluteqi wind farm in Inner Mongolia through treacherous winter weather. [Read More] Source:...

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Statoil expands share of Gudrun project

 Norwegian oil and gas firm Statoil has strengthened its control of the North Sea Gudrun field development, buying Marathon Petroleum's 20 percent stake for $85 million, Marathon said on Thursday. [Read more] Source: Reut...

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East Asia to West Africa shipping rates to rise

Members of the Asia/West Africa Trade Agreement (AWATA) will raise freight rates in early 2011 on the trade lines linking East Asian ports with West Africa. [Read More] Source: Baird Marit...

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Bangladesh: Hazardous scrap ships banned

The High Court has prohibited scrap ships from entering the country until its previous verdict is implemented. The bench of justices A H M Shamsuddin Chowdhury and Sheikh Mohammad Jakir Hossain directed the government on Wednesday to formulate a ship-breaking...

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Eni Makes a New successful Discovery in the Jangkrik Filed Offshore

Eni has successfully drilled the Jangkrik 3 well, located in the Muara Bakau permit area in the offshore Borneo of Indonesia. The three wells drilled to date confirm the Jangkrik field as an important gas discovery hosting a volume of gas in place of more than...

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Japanese Ship Orders Grow 30 Percent in November

Japanese export ship orders rose for the 12th consecutive month in November on a year-on-year basis, growing 29.9 percent to 525,009 gross tons, according to figures released Thursday by the Japan Ship Exporters’ Association. [Read More] Source: Journal of Comme...

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Supertankers Head for Worst December in Nine Years as Ship Glut Cuts Rates

The extreme weather conditions experienced throughout Continental and Western Europe during the previous weeks were good news for tanker owners, especially those of the Aframax market. With similar condition prevailing during the winter season of 2009/2010, Aframax...

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Clough Sea Trucks JV Awarded DOMGAS Contract for Gorgon

Engineering and construction company Clough Limited today announced that Chevron Australia has entered into a contract valued at approximately A$300 million with the Clough Sea Trucks Joint Venture (CSJV) for the Domestic Gas (DOMGAS) scope of work on the Gorgon...

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Government sues to recover costs from Macondo well accident, spill

The US Department of Justice and Environmental Protection Agency jointly sued to recover damages from the Apr. 20 Macondo well accident, which claimed 11 lives, and subsequent crude oil spill into the Gulf of Mexico.  DOJ and EPA filed a civil action in US...

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Aframax tankers profiting from cold winter says shipbroker

The extreme weather conditions experienced throughout Continental and Western Europe during the previous weeks were good news for tanker owners, especially those of the Aframax market. With similar condition prevailing during the winter season of 2009/2010, Aframax tanker ship owners witnessed that...

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BG Group Discovers Light Oil in Tupi Area, Offshore Brazil

BG Group has today confirmed that the eleventh well on the BM-S-11 concession in the Santos Basin, offshore Brazil, was successful. The well, designated as 3-BRSA-865A-RJS (3-RJS-677A) and informally known as Tupi W, was drilled at a water depth of 2 139 metres,...

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ABB wins offshore oil & gas contracts

ABB has won several orders collectively worth $42 million to provide power supply infrastructure and equipment for several floating, production, storage and offloading (FPSO) vessels. The vessels will produce crude oil off the coast of Brazil; they will be operated...

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Hyperdynamics Enters Into Exclusive Negotiations

Hyperdynamics Corporation today announced that it signed a non binding Letter of Intent with a large independent oil and gas company and is in a period of exclusive negotiations until January 27, 2011, unless the parties agree otherwise, for a farmout of a portion...

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CGGVeritas Announces Future Marine Joint Venture with Petrovietnam

CGGVeritas announced today that it has signed a term sheet with Petrovietnam Technical Services Corporation (PTSC) to create a 2D/3D marine joint venture to operate 2D and 3D marine seismic vessels, primarily in Vietnamese waters. The joint venture will provide...

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TAG OIL Acquires Offshore Exploration Acreage, Taranaki Basin, New Zealand

Canadian listed, New Zealand oil and gas producer TAG Oil Ltd., announced today that the Company has completed the acquisition of a 20% interest in offshore exploration Permit PEP 52181, which covers a 42,379-acre area in the main Taranaki oil and gas discovery...

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Trico to Sell Remaining Towing and Supply Vessels

Trico Marine Services, Inc. today announced that it has reached an agreement with the Company's major constituents concerning the process of selling Trico's remaining Towing and Supply vessels and any related operating assets, in accordance with previous public...

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AWE’s Silvereye-1 drilling update

AWE Limited reports that at 1100 hours today, the Silvereye-1 exploration well had reached a total depth of 2,318 metres and was preparing to trip out of the hole. Progress for the week was 1,206 metres. No significant shows were encountered and the well will...

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Geoforce Launches GPS Equipment Tracking in West Africa

Geoforce, Inc., one of the world’s leading providers of asset management solutions for the Oil & Gas industry, announced today the launch of GPS equipment tracking services covering offshore and onshore oil and gas operations in West Africa. Geoforce’s award-winning...

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Apache-operated Van Gogh field to Restart production in January 2011

The Apache-operated Van Gogh field is expected to resume production in January, subject to favorable weather conditions. Repairs to the damaged swivel seals on the Ningaloo Vision floating production, storage and offloading vessel were successfully completed....

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Cyclone risk off W. Australia revised to low

A tropical low off Australia's northwest coast packing gale force winds could cause severe flooding south of Australia's Pilbara iron ore district, but is unlikely to intensify to cyclone strength, the Bureau of Meteorology said on Thursday. Apache Corp has shut...

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