Beach shares rise 7.5% on shale gas results

Shares in Beach Energy rose after it reported positive results from its shale gas exploration program in the Cooper Basin. Beach shares were up 6 cents, or 7.41 per cent, at 87 cents early this afternoon. Beach said drilling at its Encounter-1 well, the first of a two well shale gas exploration program,...

Posted on 12/22/2010 / 0 comments / Read More

Shell Pays $10 Million Fine to Nigerian Government

Royal Dutch Shell Plc paid $10 million in fines to the Nigerian government over alleged bribes paid on its behalf by Panalpina Welttransport Holding AG, to Nigerian customs officials, Justice Minister Mohammed Adoke said. [Read more] Source: Royal Dutch Shell PLC....

Posted on 12/22/2010 / 0 comments / Read More

Suncor slapped with $200,000 fine over waste water spill

Oilsands giant Suncor Energy Inc. has been ordered to pay $200,000 after pleading guilty to two violations of the federal Fisheries Act for the deposit of a "deleterious substance" into a northern Alberta river. The charges stem from incidents that occurred between...

Posted on 12/22/2010 / 0 comments / Read More

EOG Resources and Newfield Terminate Marcellus Agreement

EOG Resources, Inc. and Newfield Exploration Company, under the terms provided for in the purchase and sale agreement, have mutually agreed to terminate the agreement announced November 15, 2010, regarding EOG's sale of certain Marcellus Shale acreage. EOG Resources, Inc. is one of the largest independent...

Posted on 12/22/2010 / 0 comments / Read More

Shawcor Announces Contract To Provide Gulf Of Mexico Pipe Coating And Insulation Services For The Jack/St. Malo Project

ShawCor Ltd. today announced its pipe coating division, Bredero Shaw, has received a contract with a value in excess of US$40 million to provide subsea insulation coatings for the Jack/St. Malo project, operated by Chevron North America Exploration and Production...

Posted on 12/22/2010 / 0 comments / Read More

Anadarko Cleanup Sites May Reach 2,800, Court Told

Anadarko Petroleum Corp. and its Kerr-McGee Corp. unit may face liability for 2,800 polluted sites, a lawyer said in a hearing on the progress of a lawsuit brought by the U.S. and spinoff Tronox Inc. [Read more] Source: Bloomb...

Posted on 12/22/2010 / 0 comments / Read More

Constellation Energy acquires oil properties in Kansas and Nebraska

Constellation Energy Partners LLC has acquired from a private seller, non-operated oil properties in northern Kansas and southern Nebraska for a purchase price of approximately $5.9 million. The acquisition is effective November 1, 2010. The properties currently...

Posted on 12/22/2010 / 0 comments / Read More

Calgary companies swap Trinidad block

Calgary junior Canadian Superior - renamed Sonde Resources earlier this year after emerging from court protection from creditors - is selling its 25 per cent stake in an exploration block off the east coast of Tinidad and Tobago. The company announced Wednesday it had struck a deal with Calgary-based...

Posted on 12/22/2010 / 0 comments / Read More

Algeria energy official in graft probe

A senior executive at Algeria's Sonatrach state energy company is under judicial investigation over allegations of improperly awarded supply contracts, several local newspapers reported on Wednesday. If the investigation is confirmed, it would mark a new phase...

Posted on 12/22/2010 / 0 comments / Read More

Petrofac Shares Rise on Start of $3.4 Billion Turkmen Contract

Petrofac Ltd., the oilfield services and engineering provider, rose to a record after it started work on the $3.4 billion second phase of the South Yoloten project in Turkmenistan. [Read more] Source: Bloomb...

Posted on 12/22/2010 / 0 comments / Read More

Iraq Oil Output +100,000 B/D To 2.5 Mln B/D - Oil Minister

Iraq's crude oil production increased by 100,000 barrels a day to 2.5 million barrels a day from Wednesday, the newly appointed oil minister said Wednesday. Abdul Kareem Luaiby, who was sworn in as new Iraqi oil minister Tuesday, also said his ministry would continue dialogue with the Kurdish authorities...

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Italy court cuts Eni Tunisia gas fine

Italy's Council of State has cut a 290 million euros fine imposed on oil and gas group Eni for abuse of its market position with regard to natural gas imports from Tunisia to 20 million euros. [Read more] Source: Reut...

Posted on 12/22/2010 / 0 comments / Read More

Mitsui delivers 29 vessels

Japan's Mitsui Engineering & Shipbuilding revealed Tuesday its newbuilding output for 2010 was 29 vessels totaling 1,213,580 GT, declining by 10% in GT against last year, showing an year-on-year decrease in terms of both the number of vessels and GT. [Read...

Posted on 12/22/2010 / 0 comments / Read More

It’s time to order ship now?

Chinese ship orders showed upturn this year. The orderbooks of some yards were extended to 2012 or 2013. Secretary Wang Jinlian of China Association of the National Shipbuilding Industry (CANSI) said the shinning statistics of this year could not indicate the...

Posted on 12/22/2010 / 0 comments / Read More

Emergency call from nuclear waste vessel

Last week “Puma” delivered nuclear waste in Murmansk. On its return voyage around Norway’s Finnmark coast, a leakage happened and the vessel had to seek emergency assistance. [Read More] Source: Barents Obser...

Posted on 12/22/2010 / 0 comments / Read More

Pirates blocked by razor wire

PIRATES failed in their attempt to hijack a general cargo ship today after they were unable to break through razor wire, according to EU NAVFOR. [Read More] Source: Safety at ...

Posted on 12/22/2010 / 0 comments / Read More

Fumes overcome bulker crew in Canada

SIXTEEN Chinese crew members are in a Canadian hospital today after being overcome by fumes on their Liberian-flagged bulker. There are five crew members still aboard the 29,653dwt Hermann Schoening, which is anchored off Port Colborne at the western entrance to the Welland Canal. It is carrying a load...

Posted on 12/22/2010 / 0 comments / Read More

Ascent Resources: Drilling of PG-11 in Slovenia Commences

Ascent Resources plc, the AIM-traded oil and gas exploration and production company, yesterday commenced drilling the Pg-11 evaluation well in the Petişovci field, a part of the Petişovci-Lovaszi Project in Slovenia and Hungary. The Pg-11 well is the first to...

Posted on 12/22/2010 / 0 comments / Read More

Maersk raises Asia/Latin America rates

Maersk Line said it is raising rates on shipments from the Far East to the Caribbean. [Read More] Source: Vietnam Ship...

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Shipping lines announce rate increases for new year

From Asia to North America, rates will increase by US$320 per teu, $400 per feu, $450 per 40ft high-cube or reefer and $510 per 45ft container. An increase of $400 per teu will be applied to cargo moving from Asia to South America and the US west coast. [Read More] Source: Vietnam Ship...

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China Demands Damages From S. Korea Over Capesized Fishing Boat

On Tuesday, China demanded that South Korea pay damages for the sinking of a Chinese fishing boat in the Yellow Sea Saturday. South Korean coast guard stopped the fishing boat for illegal fishing in South Korean waters. [Read More] Source: The Maritime Execut...

Posted on 12/22/2010 / 0 comments / Read More

500 Seafarers held hostage by pirates at Christmas

As many people are about to enjoy the Christmas holiday season, it is important to remember that over 500 seafarers, of many different nationalities, are currently being held hostage by Somali pirates. In fear for their safety, and even of their lives, and deprived of contact with their families, these...

Posted on 12/22/2010 / 0 comments / Read More

Neptune in deeply discounted equity offer

Neptune Marine Services Ltd is seeking to raise up to $80.6 million by selling new shares at less than a third of the current market value, under plans to return to profitability. The equity raising will be a three-for-one pro-rata entitlement offer of new shares at six cents per share to eligible shareholders,...

Posted on 12/22/2010 / 0 comments / Read More

Waiting Game

The Bangladesh government has asked families of the sailors who were on board the Bangladeshi ship Somali pirates hijacked in the Arabian Sea to have patience, saying such rescue might take a long period of time. [Read More] Source: Shipt...

Posted on 12/22/2010 / 0 comments / Read More

Safety Fears

Humber Coastguard staff have issued an urgent SOS plea to seafarers to protest against plans to scrap its 24-hour cover. Under Government  proposals, the Humber Maritime Rescue Co-ordination Centre (MRCC) at Bridlington will be open from  9am to 7pm. Outside these hours, rescues off the East...

Posted on 12/22/2010 / 0 comments / Read More

Too many – too soon!

In the light of what happened this year in the large tanker sector, 2011 will be even more challenging, said Gibson Research in the broker’s latest weekly report. [Read More] Source: Tanker Opera...

Posted on 12/22/2010 / 0 comments / Read More

Dubai port receives largest cargo ship

Hamriya Port in Dubai recently received its largest general cargo ship, according to media reports. The MV Veesham Oak, built in South Korea in 1984, is owned by Veesham Shipping and has a 4,944 square metre (m2) deck with a holding capacity of 20,602 cubic metres...

Posted on 12/22/2010 / 0 comments / Read More

Sundolpur Gas Field Goes on Drilling

Bangladesh Petroleum Exploration and Production Company Ltd (BAPEX) has started drilling a well in the Sundalpur-1 gas field in Noakhali under government funding.State Minister for Power, Energy and Mineral Resources Enamul Haque inaugurated the drilling work at Sundalpur gas exploration well-1 under...

Posted on 12/22/2010 / 0 comments / Read More

Gulfsands Petroleum sells three Gulf of Mexico properties

Gulfsands Petroleum, the oil and gas exploration and production group active in Syria, Iraq, Tunisia, Italy and the US, has sold three properties from its Gulf of Mexico asset portfolio for US$4.2m.The non-core producing assets are located in the shallow water...

Posted on 12/22/2010 / 0 comments / Read More

E-learning helps MARPOL understanding

The American Club has released two new modules in its series of web-based e-learning aids designed to familiarise seafarers with the six annexes to the MARPOL Convention. [Read More] Source: Motors...

Posted on 12/22/2010 / 0 comments / Read More

World’s first standards for application of corrosion resistant steels

Tokyo: ClassNK has developed and released the world’s first set of standards for the application of corrosion resistant steels to the cargo oil tanks of oil tankers. The new Guidelines on Corrosion Resistant Steel for COT are the first guidelines to lay out clear requirements for the application of...

Posted on 12/22/2010 / 0 comments / Read More

Clough Appoints New Director Process Engineering

Engineering and construction company Clough Limited has strengthened their engineering capability with the appointment of Nick White as Director, Process Engineering. Mr White will report to Gary Bowtell, Executive Vice President, Engineering. Mr White joins Clough...

Posted on 12/22/2010 / 0 comments / Read More

Finnish support for green vessels

The Finnish Ministry of Transport and Communications has granted a total of EUR 30 million for vessel investments improving the level of environmental protection. [Read More] Source: ship...

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Samsung Sets Sights on Macedonian Wind Farm

According to a report from The Guardian, South Korean industrial giants target booming East European renewables market. Samsung Heavy Industries (SHI), South Korea's third largest shipbuilder, is set to join with the Korea South-East Power (Kosep) to build a 100MW wind farm in Stip, Macedonia. [Read...

Posted on 12/22/2010 / 0 comments / Read More

DryShips Closes Offering of Shares, Ocean Rig UDW

DryShips Inc. (NASDAQ:DRYS), a global provider of marine transportation services for drybulk cargoes and offshore contract drilling oil services, announced today that its wholly-owned subsidiary Ocean Rig UDW Inc., has closed its offering by way of a private placement of shares of Ocean Rig's common...

Posted on 12/22/2010 / 0 comments / Read More

Shipping Confidence Dips Again

Overall confidence levels in the shipping industry dropped for the second successive quarter, although they are still up on the corresponding period last year, according to the latest survey by accountant and shipping industry adviser Moore Stephens. Owners in particular appear to be having a rethink...

Posted on 12/22/2010 / 0 comments / Read More

Wrong Directions: A Recipe for Failure

This U.S. Coast Guard safety alert addresses critical concerns uncovered during an ongoing marine casualty investigation and should be of vital interest to Ship Builders, Classification Societies, Owner / Operators and others involved with vessel operations. [Read More] Source: MarineL...

Posted on 12/22/2010 / 0 comments / Read More

Seadrill enters into contract for newbuild tender rig

Seadrill has entered into a conditional agreement with BP Trinidad and Tobago LLC for a firm two year contract plus further one year option period for the newbuild semi-tender West Jaya offshore Trinidad and Tobago. Contract value for the firm period is approximately...

Posted on 12/22/2010 / 0 comments / Read More

IRISL P&I insurer sanctioned

U.S. Treasury sanctions are making it harder for Islamic Republic of Iran Shipping Lines (IRISL) to get P&I cover. Yesterday, the Treasury designated Moallem Insurance Company under Executive Order 13382, an authority aimed at freezing the assets of proliferators of weapons of mass destruction and...

Posted on 12/22/2010 / 0 comments / Read More

Filipino customs officer charged with stealing from shipment

The Philippines’ Department of Finance has filed charges against three Bureau of Customs (BOC) officers for allegedly stealing samples from a seized shipment of household items. [Read More] Source: Baird Marit...

Posted on 12/22/2010 / 0 comments / Read More

Ship underwriters widen Somali piracy threat zone

London’s marine insurance market has widened the stretch of waterways deemed at high risk from Somali pirates as the armed gangs strike further out at sea, industry officials say. The move is expected to raise insurance premiums for ship owners, reflecting the...

Posted on 12/22/2010 / 0 comments / Read More

The Start of a Bull Market in Tanker Rates

Should you ignore the new bull market in oil tanker rates? The market has just done that, yawning at the relentless climb in spot charter rates to hire VLCCs, Suezmax and Africamax vessels. Who can blame them? Every time, a company makes a dime shipping oil, it buys another tanker, flooding the oil...

Posted on 12/22/2010 / 0 comments / Read More

Asian and US ports 'lag behind' accelerating growth

Asian and US ports have been warned they need to carry out upgrades to match accelerating trade growth. Senior managers at logistics giant DHL said that port and infrastructure investment in India and the US was "lagging behind". [Read More] Source: Cargo Sys...

Posted on 12/22/2010 / 0 comments / Read More

Hellas: Shipowners still leading the pack in terms on ship purchases

Shipowners based in Hellas retained their overall lead in ship purchases after the end of November, acquiring 14 vessels of a total worth of $449 million this month, according to a survey report from Golden Destiny.  Chinese presence in the bulk carrier sector proved stronger this month, holding...

Posted on 12/22/2010 / 0 comments / Read More

Hyundai Heavy to set up division for green energy business

Hyundai Heavy Industries Co., South Korea's leading shipbuilder, said Wednesday that it plans to set up a division mainly involved in the solar and wind power energy business. [Read More] Source: Yonhap N...

Posted on 12/22/2010 / 0 comments / Read More

X-BOW® FIVE YEARS - OVERWHELMING RESPONSE FROM USERS

Ulstein Group has sold nearly 70 offshore ship designs since the company started to develop Ulstein designs in 1999. Over 40 of these designs are for X-BOW® vessels, a new hull design that was launched five years ago. 15 X-BOW® vessels are already at work, and...

Posted on 12/22/2010 / 0 comments / Read More

Contract wins for Sembcorp Marine, Keppel Corp

RIG builders Sembcorp Marine and Keppel Corp both announced sizeable contract wins on Wednesday. Jurong Shipyard, a unit of Sembcorp Marine, won two contracts worth a combined US$400 million (S$530 million) to build two jack-up rigs for a unit of Noble Corp, a drilling contractor listed in New York. [Read...

Posted on 12/22/2010 / 0 comments / Read More

Statoil awards Aker Solutions Kristin low-pressure production contract

Statoil has given Aker Solutions the assignment to build and install a compressor module on the Kristin platform in the Norwegian Sea. The module will help to improve recovery from the Kristin and Tyrihans fields. The engineering, procurement, construction and...

Posted on 12/22/2010 / 0 comments / Read More

Keppel to build US$180 million KFELS B Class jackup for Jasper

Keppel FELS Limited has secured an order for a KFELS B Class jackup rig worth about US$180 million from Jasper Investments Limited, with an option for another similar unit. The rig is slated for delivery in 2H 2012. If exercised, the option for the additional...

Posted on 12/22/2010 / 0 comments / Read More

STX Finland, Viking Line Sign $315m Deal

STX Finland Oy and Viking Line ABP signed an agreement for the construction of an environmentally friendly, new generation cruise ferry for Viking Line. The agreement includes an option for a sister ship. [Read More] Source: Maritime Professio...

Posted on 12/22/2010 / 0 comments / Read More

FMC Technologies Signs Enterprise Framework Agreement With Shell

FMC Technologies, Inc. announced today that it has signed a five-year Enterprise Framework Agreement (EFA) with Shell with an option to extend the agreement for an additional five years. This agreement facilitates to international projects the same mutual benefits that Shell and FMC have enjoyed through...

Posted on 12/22/2010 / 0 comments / Read More

Xcite Energy completes flow test of horizontal well on Bentley field

Xcite Energy Limited, an oil exploration and development company, has announced the successful completion of 9/3b-6z horizontal well flow test on the Bentley field. The flow rates achieved demonstrate both the commerciality of the Bentley field and the reservoir...

Posted on 12/22/2010 / 0 comments / Read More

Vantage Drilling Company Announces Updates for Sapphire Driller and Platinum Explorer

Vantage Drilling Company announced today that its customer for the Sapphire Driller has advised Vantage that it believes the current political disruptions in Côte d'Ivoire constitute a force majeure event under the drilling contract. The Sapphire Driller has just...

Posted on 12/22/2010 / 0 comments / Read More

Aker Solutions wins Ekofisk topside early engineering and procurement contract

ConocoPhillips has conditionally awarded a contract for engineering, procurement and construction (EPC) of the topside module for the Ekofisk 2/4 Z platform to Aker Solutions. The contract award is subject to project approval by the PL018 license group, and Norwegian...

Posted on 12/22/2010 / 1 comments / Read More

Meo Receives Regulatory Approval For Acquisition Of 100% Interest In Permits AC/P50 & AC/P51

MEO Australia Limited has been advised today that the Delegate of the Designated Authority for the Territory of Ashmore and Cartier Islands offshore area has approved the acquisition by MEO of a 100% interest in AC/P50 & AC/P51 from Silver Wave Energy Pte Ltd ("Silver Wave") and has duly registered...

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TGS Announces its First Multi-client 3D Survey in Indonesia

TGS will commence a new multi-client 3D survey in the Tarakan Basin, offshore East Kalimantan, Indonesia in the Celebes Sea. The survey, TBN10, is the first ever multi-client 3D survey for TGS in Indonesia waters and will cover in excess of 1,600 km2. The data...

Posted on 12/22/2010 / 0 comments / Read More

Tap Oil: Zola-1 Well Drilling Upgrade

Tap Oil Limited provides the following update on the Zola-1 exploration well, offshore Carnarvon Basin, Western Australia. Location / Proposed Depth The Zola-1 well is located in permit WA-290-P, immediately south of the giant Gorgon gas field in the Carnarvon...

Posted on 12/22/2010 / 0 comments / Read More

ANCAP Received Proposals for 2D Seismic Studies Offshore Uruguay

ANCAP closed on December 13, 2010 an international tender for the acquisition of between 5.600 and 7.000 kilometers of 2D seismic data covering the Punta del Este and Pelotas basins as well as gravimetry and magnetometry data. [Read more] Source: Offshore Energy...

Posted on 12/22/2010 / 0 comments / Read More

EnerMech Acquires Aberdeen Valve Supplies Ltd

EnerMech has acquired Aberdeen Valve Supplies Ltd (AVS) in a deal believed to be worth around £1.5 million. AVS and its subsidiaries LG Ball Valves Ltd and Valve Paint Shop Ltd are based in Altens and supply valves, valve controls and associated equipment and...

Posted on 12/22/2010 / 0 comments / Read More

Cove prepares to drill Tubarao

Cove Energy plc, the East African oil and gas exploration company, announces that the Belford Dolphin drillship has arrived on location at the Tubarao well site.  This follows cessation of operations on the Lagosta gas discovery which has been suspended...

Posted on 12/22/2010 / 0 comments / Read More

MEO Australia Announces Artemis-1 Progress Report

MEO Australia Limited advises that since the last progress report, final logs were acquired and abandonment operations commenced. The proximity of a Tropical Low, with the potential to develop into a cyclone, necessitated the de-manning of all personnel from the...

Posted on 12/22/2010 / 0 comments / Read More