Synergy Resources buys four producing wells in Wattenberg field from Nobel Energy

Synergy Resources Corporation, a domestic oil and gas exploration and production company focused in the Denver-Julesburg Basin, announced that it has purchased a 100 percent working interest in four producing wells from Noble Energy that are adjacent to Synergy’s Pratt Lease. The Pratt Lease has over...

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Repsol completes sale of Brazilian unit stake to Sinopec

Spanish energy giant Repsol shareholders on Tuesday approved the sale of 40 percent of its Brazilian affiliate to Sinopec, China's largest oil group, for 7.1 billion dollars (5.2 billion euros). "The general assembly of Repsol Brazil shareholders held in Rio de...

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Russia lashes out at western critics of Khodorkovsky trial

Russia's government came out fighting today in response to international criticism over the jailing of the oil tycoon Mikhail Khodorkovsky, warning European countries and the US to "mind their own business".[Read more]Source: The Guard...

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Williams says natgas leak in Miss. storage cavern

Williams Cos said Tuesday a gas leak in a natural gas storage cavern in Eminence, Mississippi, forced the evacuation of some local residents but did not disrupt gas supplies to customers on its huge Transco pipeline.  "We have gas leaking from one of the...

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Chevron: No scientific basis for $113-billion claim

Chevron Corp. said admissions during court-ordered depositions of the plaintiffs’ own consultants confirm there is no scientific basis for the $113-billion claim for damages in litigation pending in Lago Agrio, Ecuador.  [Read more] Source: Oil & Gas Jour...

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Korea, Japan clash for high-end ships

Japan's shipbuilders seem to be focusing on taking fresh orders for newbuilds supposed to be delivered after the second half of 2013 next year. [Read More] Source: Asia...

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Samsung wins Evergreen's 30 ships?

Korea's Samsung Heavy Industries is expected to win new orders for another 10 8,000-teu boxships in ealry next year following having received new orders for 20 8,000-teu boxships from Evergreen this year. [Read More] Source: Asiasi...

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Indonesia oil, gas companies eye 43% rise in 2011

Indonesia's oil and gas companies will increase their spending next year by 43.3% from 2010 to $18.91 billion in a bid to meet the country's output target of 970,000 b/d, a senior BPMigas official said Friday. [Read more] Source: Pla...

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Russia Confirms Order for French Mistral Warships

On Friday Russia’s President, Dmitry Medvedev confirmed the country’s order for two French Mistral-class helicopter carriers. The order, priced at $1.3 billion is Russia’s largest foreign arms purchase in several decades. [Read More] Source: The Maritime Exec...

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Over 1.7m tons of condensate produced from Shah Deniz

1.753m tons of condensate were produced from Shah Deniz offshore gas condensate field in January-November, sources in SOCAR reported. The condensate production has increased by 20.2% over the same period of the last year. Production from the field made up 167,600...

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Iran implements 14 mega projects in South Pars field

Iran Daily reported that Iran is implementing 14 mega projects in its giant South Pars field that are scheduled to be completed in 35 months. Mr Moussa Souri MD of Pars Special Economic Energy Zone said that "Iran has embarked on the development of 14 projects...

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QUANTUM SHIP: TAKING A QUANTUM LEAP INTO THE FUTURE

To revolutionize the container shipping industry with a design that integrates efficiency along with responsibility, a cargo ship called Quantum Ship has been conceptualized and designed by the ship building company DNV. [Read More] Source: Maritime Sun N...

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Ship Released

Somali pirates have released a German-owned chemical tanker with 19 Indians among its crew of 22 almost eight months after it was taken hostage in waters south of Oman, the European Union Naval Force reported. [Read More] Source: Ship T...

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Oil, Gas Companies Want to Sell $90 Billion of Assets Globally

Oil and gas assets worth more than $90 billion globally are on the market as companies such as BP Plc, Royal Dutch Shell Plc, ExxonMobil Corp. and ConocoPhillips have put sizable portfolios of assets up for sale, the Financial Times reported, citing figures from Derrick Petroleum Services, a consulting...

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Pirates seized an Antigua and Barbuda-flagged ship

Somali pirates seized an Antigua and Barbuda-flagged ship early Monday (27 Dec), approximately 175 nautical miles northeast of the port Salalah, Oman, EU anti-piracy mission said today. [Read More] Source: Ship T...

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ConocoPhillips spent $4.87 million to lobby Congress on offshore drilling, other issues

ConocoPhillips spent $4.87 million in the third quarter to lobby the federal government on offshore drilling and other issues, according to a disclosure report. That's up from the $3.95 million the company spent in the same period last year but less than the $5.2...

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Korean ports’ throughput in November hits new record

Seoul: Cargo throughput of all South Korean ports achieved 106.79m tons in November, an increase of 13.5% year-on-year and a new record for the month, according to the statistics of the Korean Ministry of Land, Transportation and Maritime Affairs (MLTM). [Read...

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Odense newbuilding moves to Korsør

Odense Steel Shipyard has been forced to move its surplus newbuilding to a lay-up berth at Korsør on the isle of Sjælland. [Read More] Source: Ship...

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Eidesvik Announces Charter Agreement with CGGVeritas

The Charterer CGGVeritas has recently trough it subsidiary Exploration Investment Resources II AS declared their option and extended the contract with 3 years for the seismic vessel Veritas Viking starting ultimo May 2011. The owner of the vessel is Eidesvik Shipping...

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Sevmash appeals Arkhangelsk ruling

The Russian state-owned shipyard Sevmash has appealed the recent ruling by the state commercial court in Russian Arkhangelsk, which approved Odfjell’s application concerning the “recognition and enforcement” of the arbitral award filed against Sevmash. [Read More] Source:...

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Have the EU's shipping emissions proposals capsized?

Any attempt to bring shipping into the EU’s Emissions Trading Scheme (EU ETS) may be open to legal challenges, according to new research by the European Commission. Maritime transport produces about four per cent of global man-made CO2 emissions, but there are currently no regulations in place to curb...

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Dry-bulk shipping income to fall in 2 years

Shipowners will earn less next year and in 2012 from renting out vessels to haul goods such as coal and iron ore as the fleet expands, Arctic Securities said. The Baltic Dry Index, a measure of commodity-shipping costs, has slid 26 percent this year, according to the Baltic Exchange in London. [Read...

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USA: ZADCO Shifts from Offshore Rig to Artificial Island

Abu Dhabi’s Zakum Development Company (ZADCO) is working at full stretch on the enormous expansion of drilling and production to achieve its goal to produce 750,000 barrels per day (bpd) of crude oil by 2015 - dubbed the UZ 750 project - raising output by 200,000...

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Chinese newbuilding completions more than 50% ahead

From Jan to Nov this year, China’s shipbuilding output was 56.76m dwt, a 55.4% increase year-on-year, according to the latest report of the China Association of the National Shipbuilding Industry (CANSI) released today. [Read More] Source: Seatrade A...

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Baltic Dry Index expected to slip

The Baltic Dry Index, a measure of commodity shipping cost, is expected to slip towards 1,700 this week, as its trending signal has turned bearish. The index failed to develop an uptrend around a key support level at 2,060. As the following drop seems to be accelerating, it becomes less possible for...

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Greece-China shipping sector cooperation expanding

Acceleration and further promotion of bilateral cooperation between Greece and China, focusing on the exchange know-how in the shipping sector, were the main points of recent seminars organised at the initiative of the maritime affairs, islands & fisheries...

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Statoil awards FMC $75MM subsea supply contract for Vigdis North-East in North Sea

FMC Technologies, Inc. announced that it has signed an agreement with Statoil for the manufacture and supply of subsea production equipment to support the Vigdis North-East development. The award has a value of approximately $75 million in revenue to FMC Technologies.  Vigdis...

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PNGRB invites bids for gas pipeline

Oil regulator PNGRB has invited bids for laying two natural gas pipelines, which will partly include the one already being laid by Reliance Industries to transport gas from its eastern offshore fields. [Read more] Source: BUsiness-Stand...

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Ship scrapping could swing into the foray during the first weeks of 2011

As the dry bulk market is looking to end the year on a low note, in fact the lowest in almost a year, ship owners could very well be looking to offload their older carriers to scrapyards around the world. With scrap prices holding firm and buying interest still remaining high, it seems that the wise...

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Norway: Advances in Ultrasonic Cleaning Presented by Wilhelmsen Ships Service

Wilhelmsen Ships Service has launched a new range of Unitor Ultrasonic Cleaning Machines. The series, which consists of four choices of cleaning unit capacity, includes some important advanced features, such as an ultrasound sweep function to ensure a uniform...

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Ship-breakers end strike, to resume work

The four-day-long strike by ship-breakers at Alang, Asia's largest ship-breaking yard, ended on Friday evening after the representatives of ship-breakers met officials of central excise and other departments concerned to discus their problems. The work at Alang...

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Another Hijacking off Somalia Keeps World's Weirdest Stock Market Moving By Justin Rohrlich Dec 22, 2010 1:15 pm

Somali pirate hijackings are financed by what may well be the world’s most unusual “stock market.” A pirate interviewed by Canada’s National Post says that, in Haradheere, 250 miles northeast of Mogadishu, brigands set up an exchange of sorts to fund their activities. [Read...

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Pirates retreat after bid to board Maltese ship

An attempt by pirates to board a Maltese registered vessel in the Arabian Sea yesterday afternoon was foiled by a navy helicopter of unknown nationality. [Read More] Source: Times of Ma...

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Shipping left to plot GHG course, for now

The International Maritime Organization (IMO) remains in charge of greenhouse-gas (GHG) emissions regulation in shipping following the UN climate talks in Cancún – but its window of opportunity to do so may not last long.\ [Read More] Source: Carbon Posit...

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Feature: Fatigue nightmares

For half an hour there was almost unbroken silence on the bridge before it was shattered by the unmistakeable sounds of a ship running aground on rocks. The playback from the voyage data recorder told a familiar story to the listening casualty investigators: a lone watchkeeper at night had nodded off...

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Festive season puts a lid on ship acquisitions

The holiday season has affected the overall turnover of ship acquistions deals prior to Christmas with the current week not expected to exhibit any different signs. According to a weekly report from Piraeus-based shipbroker Golden Destiny, last week was marked...

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Abu Dhabi Ship Building Launches Second 42m Landing Craft For Royal Bahrain Naval Force

Abu Dhabi Ship Building, a world-class ship builder specializing in the construction, repair and refit of naval, military and commercial vessels, held today (Tuesday December 28, 2010) an official ceremony to launch Al Hamra - the second 42m Landing Craft for...

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Vinashin yet to agree on 1st payment of $600M debt

State media say the Vietnam Shipbuilding Industry Group doesn't yet have an agreement on the first repayment toward $600 million it owes foreign creditors. [Read More] Source: Businessw...

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