Hess Completes Acquisition of Additional Bakken Acreage

Hess Corporation announced today that is has completed the acquisition of 167,000 net acres in the Bakken oil shale play in North Dakota from TRZ Energy, LLC for $1,050 million in cash. The acquired properties are located near Hess’ existing acreage and have current...

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Black Dragon Begins Drilling in Desoto Parish, Louisiana

Black Dragon Resource Companies, Inc. is pleased to announce that the company will drill its first joint venture well with Black Dragon Resource Ltd. and an additional party. Black Dragon Resource Companies Inc. will have a 35% working interest in the well. To...

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Signs of growth trend in Russia’s shipbuilding, up 5% in 2011-2013

The rate of growth in shipbuilding industry of Russia in 2010 is projected at 103.2%, and in the period 2011-2013 the development of shipbuilding is expected at not less than 104-105%, the Russian Ministry of Industry & Trade year-end data said. This growth...

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Chinese eye wind farm installation ships

Chinese shipyards are negotiating with Beluga Hochtief Offshore to build a pair of wind turbine installation vessels costing around $300m in total. [Read More] Source: Asia...

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ALE has completed a brace of jobs in the last few days.

In Mexico, the company's subsidiary skidded, lifted and positioned switches inside the Laguna Verde Nuclear Power Station. The switches are six metres long and weigh more than 15 tonnes. [Read More] Source: Heavy L...

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178 million tonnes for Antwerp but conventional cargoes still well down

Based on provisional figures, by the end of this year the port of Antwerp expects to have handled 178 million tonnes of freight, up 13 percent from the recession year of 2009 with the increase mainly due to container freight, which has once more passed the 100 million-tonne mark and set a new record. [Read...

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Ice formation in Baltic

Intensive ice formation is expected in the northern region of the Baltic Sea until at least the end of this week. [Read More] Source: portwo...

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ABS debuts Offshore Wind Turbine installation guide

Houston: Classification society ABS has released a Guide to address design considerations for the bottom founded support structure of an offshore wind turbine situated in tropical storm prone areas on the US Outer Continental Shelf (OCS) such as the Gulf of Mexico...

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German ship hijacked in pirate attack off Oman coast

A German cargo ship travelling from the UAE to Greece has been hijacked by Somalian pirates off the coast of Oman, the latest in a string of attacks in the region. The MV EMS River, an Antigua/Barbuda flagged ship, was seized around 175 nautical miles northeast...

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Bolivia state energy company to pay more for oil

Bolivia's state energy company said on Wednesday it will pay more for crude oil produced by foreign firms operating in the country as part of government measures aimed at boosting energy output. Bolivia has South America's second-biggest natural gas reserves and exports the fuel to Brazil and Argentina,...

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Icy Weather Challenges Project Shipment

Steder Group, based in the Netherlands, handled a 245-metric-ton shipment of dredging equipment from Trapani, Italy, to Zeebrugge, Belgium despite freezing temperatures, heavy snowfall and ice just days before Christmas. [Read More] Source: Break B...

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Deeper canals help boost Brazil’s commodities throughput

Brazil’s sea port capacity will rise significantly in 2011 as dredging work advances, a senior port official told Reuters, relieving a major bottleneck hampering trade with the booming Latin American economy. Brazil generates more than 40% of its export revenue...

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IMO records 27 ship robbery in West African region

Reports from International Maritime Organisation (IMO) has indicated that a total of 27 incidents, involving piracy and armed robbery against ships engaged in international shipping, occurred within the first to third quarters of this year in West Africa. The...

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Shipping businesses concerned over rising incidents of piracy

As incidents of ships hijacking by Somali pirates for ransom have increased with the third ship hijacked within 20 days in the Indian Ocean the shipping circles here are facing insecurity, heavy financial demurrage and shortage of crew in operating the oceangoing ships. [Read More] Source: PR...

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Magnum Hunter Resources Common Shares Approved for Listing on The New York Stock Exchange

Magnum Hunter Resources Corporation announced today that shares of its Common Stock have been approved for listing on The New York Stock Exchange ("NYSE"). The Common Stock will continue to trade under the ticker symbol "MHR". The Company's shares will begin trading...

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China's shipping company taps into Turkish market

China Ocean Shipping (Group) Company (COSCO), China’s largest shipping group, has been strengthening its foothold in Turkey since entering the market in 1996. COSCO, which owns and controls over 800 modern merchant vessels with an annual carrying capacity of 400...

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Record VLCS deliveries in 2010

The number of VLCS and ULCS (Very/Ultra Large Container Ships) of above 7,500 teu delivered this year has reached a new record according to a report issued by Alphaliner. Some 61 V/ULCS units have been delivered in 2010, matching the previous record of 61 units...

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FX Energy Starts Production From KSK Production Project

FX Energy, Inc. announced the start of production from its KSK production project in Poland. The KSK production project serves three wells: Sroda-4, Kromolice-1 and Kromolice-2. The Sroda-4 well is providing the initial production, and is expected to produce approximately 4 million cubic feet of gas...

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China CNOOC to buy half of China coalseam gas firm

China National Offshore Oil Corp (CNOOC) will acquire half of one of the country's leading coalseam gas companies for 1.2 billion yuan ($181.2 million), as the country's third-largest oil and gas company expands further in the unconventional gas business. [Read more] Source: Reut...

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Middle East Supertanker Surplus Unchanged as Ship Demand Slows

An excess of supertankers competing for Persian Gulf crude oil stayed unchanged as demand for vessels slowed. There are 10 percent more very large crude carriers, or VLCCs, for hire over the next 30 days than there are cargoes, according to the median estimate...

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Gulf Keystone says it will vigorously challenge Excalibur claim

Gulf Keystone Petroleum (LONGKP) said today it will vigorously challenge an attempt by Excalibur Ventures to claim a 30 per cent share in its blocks in Kurdistan. Proceedings have been launched against Iraq-focused GKP and two of its subsidiaries in London and...

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Dry bulk market stays subdued at the end of 2010

The dy bulk market failed to cheer ship owners across the board as the year draws to an end, thus bringing mixed feelings ahead of 2011. On one hand, the market’s retreat to well under 2,000-point levels can be seen as a good sign since the new year will begin on a low end, leaving enough room for growth...

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German shipyard output slumps in 2010

Struggling German shipyards delivered far fewer new ships in 2010 than they have for many years, conceding further market shares to Asia and themselves completing just 30 newbuildings of 783,500 gt, writes Tom Todd. [Read More] Source: Motors...

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Orders pour in at Pipavav Shipyard

Pipavav Shipyard, India'slargest shipyard and rated as the world’s sixth largest shipping facility, is flush with orders and the number is growing dramatically. However, Pipavav has yet to make a debut on the delivery side though there is no definite day fixed...

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China Navigation orders eight MPVs

The China Navigation Company Pte (CNCo), the deep sea shipping arm of the Swire group, has ordered eight multipurpose vessels each of 31,000 dwt and valued at a total of USD300 million, to be bulit at Zhejiang Ouhua Shipbuilding Co Ltd (Ouhua), on Zhoushan Island in Mainland China. [Read More] Source:...

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Bergen Oilfield reports North Sea 3D acquisition award

Bergen Oilfield Services AS (BOS) has signed a contract with LOTOS Exploration and Production Norge AS, acting as Operator on behalf of the License Group in PL 503, of a 1563 sqkm acquisition program of 3D Seismic Data in the area of PL 503 in the southern part...

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Meyer news brightens German scene

Monday’s news about declining German yard deliveries in 2010 has been brightened by word now from leading cruise ship builder Meyer, writes Tom Todd. [Read More] Source: Motors...

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Noble Energy confirms massive natural gas find at Leviathan offshore Israel

Noble Energy, Inc. announced a significant natural gas discovery at the Leviathan exploration prospect offshore Israel. Drilled in the Rachel license, the well encountered a minimum of 220 feet (67 meters) of net natural gas pay in several subsalt Miocene intervals....

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Vinashin gets loans to cover payroll

HA NOI - The Government has extended zero-interest loans to the troubled Viet Nam Shipbuilding Industry (Vinashin) Group and the Viet Nam National Shipping Lines (Vinalines) in order to meet company payrolls. [Read More] Source: Viet Nam N...

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Petrobras Tupi, Iracema Oil Fields Hold 8.3 Billion Barrels, Top Estimates

Petroleo Brasileiro SA, Brazil’s state-controlled oil producer, said that two deepwater oil fields hold 8.3 billion barrels of recoverable crude, exceeding previous estimates. [Read more] Source: Bloomb...

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STEP Offshore wins equipment contract with STX Offshore & Shipbuilding

STEP Offshore, a wholly-owned subsidiary of Aker Solutions, has won a contract from South Korea’s STX Offshore & Shipbuilding Co. LTD to supply equipment for a new, dynamically positioned ultra-deepwater Globetrotter-class drillship. The owner of the ship is Houston-based Noble Corp. [Read More] Source:...

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STEP Offshore wins equipment contract with STX Offshore & Shipbuilding

STEP Offshore, a wholly-owned subsidiary of Aker Solutions, has won a contract from South Korea’s STX Offshore & Shipbuilding Co. LTD to supply equipment for a new, dynamically positioned ultra-deepwater Globetrotter-class drillship. The owner of the ship...

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Singapore yard secures conversion and shipbuilding contracts

Keppel Offshore & Marine's wholly-owned subsidiaries Keppel Shipyard and Keppel Singmarine have clinched a number of new contracts, worth in total some S$240 million ($185 million). [Read More] Source: Motors...

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Petrobras provides production in November 2010

Petrobras provides its November 2010 production and the average production of 2010. In November 2010, the average total oil, NGL and natural gas production, including international production was 2,620.3 thousand barrels of oil equivalent per day (boed), compared...

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Lundin Completes Sale of Its Non-operated Salawati Interests in Indonesia

Lundin Petroleum AB has completed the sale of its non-operated interests in the Salawati Basin and Island assets, located in the eastern part of Indonesia, to RH Petrogas ("RHP").  Lundin Petroleum and RHP, a company listed on the Singapore Stock Exchange ("SGX"), completed the transaction on 29...

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Ithaca Energy Inc. Completes Second Well Workover on Beatrice Alpha

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 stable production from the second...

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PSA Gives Go-ahead For Manned Underwater Ops Offshore Norway

The Petroleum Safety Authority Norway (PSA) has granted consent to perform manned underwater operations in 2011 within the framework of a joint operations agreement for underwater services between ExxonMobil, Gassco and Statoil. [Read more] Source: Offshore Energy...

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Desire Jacinta prospect marks another oil disappointment in the Falklands

British oil and gas exploration company, Desire Petroleum, has taken another hit with shares slipping nearly 28 percent with news of another disappointment in the North Falklands basin. Desire Petroleum announced that its latest Falkland exploration project,...

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Nido abandons Tindalo

AUSTRALIAN FIRM Nido Petroleum Ltd. is abandoning the Tindalo oil well off Palawan, saying the prospect is “uneconomic” due to increasing water-cuts and declining oil production rate. [Read more] Source: Business.Inquirer....

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Tidewater to Present at the Pritchard Capital Partners Energize 2011 Conference

Tidewater Inc. announced today that Joseph M. Bennett, Executive Vice President and Chief Investor Relations Officer, will present at the Pritchard Capital Partners Energize 2011 Conference in San Francisco, California on Wednesday, January 5, 2011, at approximately...

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Tap Oil Announces Zola-1 Well Drilling Update

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...

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Tap Oil Announces Craigow-1 Well Drilling Update

Tap Oil Limited provides the following update on the Craigow-1 exploration well, offshore Bass Basin between Victoria and Tasmania. Location / Proposed Depth The Craigow-1 well is located in permit T/47P in the offshore Bass Basin between Victoria and Tasmania....

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Peterhead Firms Start Work on Pioneering Underwater Tool for Ecosse Subsea Systems

Work has begun in Peterhead on a pioneering underwater tool developed by Aberdeen-based Ecosse Subsea Systems. Ecosse Subsea Systems was recently awarded a £30,000 Scottish Enterprise grant to assist in the research and development of SCAR, a specialist trenching...

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