EOC BAGS SIZEABLE US$45M PIPELAY PLATFORM INSTALLATION CONTRACT FROM CHEVRON

EOC Limited (EOC or the Group), a leading provider of offshore oil and gas (O&G) support services in Asia, has secured a sizeable pipelay and platform installation contract from new clients - Chevron Offshore (Thailand) Limited, Chevron Thailand Exploration and Production, Ltd and Chevron Pattani,...

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Pacific Rubiales says Colombia well drilling a success

Canadian oil firm Pacific Rubiales Energy Corp said drilling at its Apamate-1X well in Colombia showed positive results. [Read More] Source: Reut...

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Concho Resources to sell its Bakken assets for $196 mln

Independent oil and natural gas company Concho Resources said it agreed to sell its North Dakota Bakken assets for $196 million to Linn Energy . [Read More] Source: Reut...

Posted on 2/28/2011 / 0 comments / Read More

Gastar Exploration Acquires Additional Marcellus Shale Acreage in Liquids-Rich Area of West Virginia

Gastar Exploration Ltd. (NYSE Amex: GST) today announced that it and its joint venture partner, Atinum Marcellus I LLC ("Atinum"), have leased an additional approximate 3,300 gross acres in Marshall County, West Virginia to develop the liquids-rich Marcellus Shale formation.  Under the joint venture...

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Saudi Aramco CEO says extra oil supply needs met

All demands for extra oil have been met, Saudi Aramco [SDABO.UL] CEO Khalid al-Falih told reporters on Monday, following promises from the leading exporter last week it would fill any supply gap left by Libya. [Read More] Source: Reut...

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Petrobras Profit Surges 38% on Oil Production

Petrobras Profit Surges 38% to Record on Brazil Oil Production Petroleo Brasileiro SA, the world’s third-largest oil company by market value, said fourth-quarter profit surged 38 percent to a record after production increased. [Read More] Source: Bloomb...

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BP sues UK gov for £300m over decade-old tax bill

BP is suing the British government for just under £300m in compensation for a "disputed duty" that it paid on a deal made in 1999. It is backed by US bank JP Morgan and third claimant Guaranty Nominee. [Read More] Source: First P...

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Red Hill South well to spud today

Norwest Energy NL announces that the Red Hill South – 1 well in the TP/15 Permit expects to spud today. [Read More] Source: fortbri...

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Colombia oil line attacked

Colombia's Cano Limon-Covenas oil pipeline, transporting around 80,000 barrels per day (bpd), has been attacked but exports have not been affected, a source at state-run Ecopetrol said on Saturday. [Read More] Source: Reut...

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Dart Energy Announce Early Acquisition Of Composite Energy Limited

Global coal seam gas company Dart Energy Limited (ASX:DTE) is pleased to announce that it has agreed to acquire the 90% of Composite Energy Limited ("Composite") that it does not already own for approximately US$46.7 million. The consideration will be satisfied...

Posted on 2/28/2011 / 0 comments / Read More

Egypt gas to Israel to resume by March 4 -Ampal

Egyptian gas supplies to East Mediterranean Gas and its clients in Israel are expected to resume by March 4, Ampal-American Israel Corp said on Sunday. [Read More] Source: Reut...

Posted on 2/28/2011 / 0 comments / Read More

Seadrill Orders, Secures Contracts for Two Tender Rigs

Seadrill Ltd., the owner of the world’s second-largest fleet of deepwater rigs, placed a $225 million order for two tender rigs from China’s COSCO Nantong shipyard for delivery in 2013. [Read More] Source: Bloomb...

Posted on 2/28/2011 / 0 comments / Read More

China to Support Greek Shipowners with USD8bn-10bn

China is willing to provide a financial support for Greek shipowners having their ships built in Chinese shipyards, which will raise from earlier USD 5 billion to between USD 8 billion and USD 10 billion, citing Ioannis Diamantidis, Greek Minister of Maritime Affairs. [Read More] Source: TMC....

Posted on 2/28/2011 / 0 comments / Read More

Libyan protesters control oil fields

Libyan protesters have gained control over the country's oil fields as thousands of Libyans, demanding the ouster of Muammar Gaddafi's regime, are advancing towards the capital Tripoli, reports say. [Read more] Source: Press...

Posted on 2/27/2011 / 0 comments / Read More

EUNAVFOR warship evacuates casualty from merchant vessel in Indian Ocean

Late on the evening of 23 February, EUNAVFOR warships in the Arabian Sea were alerted that an incident had occurred on board a German owned container vessel, 155 Nautical miles South East of the island of Socotra, resulting in burns to one of the crew. [Read More] Source:...

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DSME to construct the first wind tower

Korean company Daewoo Shipbuilding & Marine Engineering （DSME）announced that it will launch the first production of wind turbine towers at its manufacturing plant located in  Pictou County, Nova Scotia, Canada. [Read More] Source: Seatrade A...

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Pirates hit tanker off southern Malaysia

A Liberian-registered tanker was robbed by pirates while anchored off southern Malaysia early on Sunday morning. The tanker, Simon, was anchored 2.1nm south-southwest of Pulau Mungging, Malaysia when it was boarded by five pirates armed with machetes and handguns at 04-35hrs on Sunday morning. [Read...

Posted on 2/27/2011 / 0 comments / Read More

Enerplus posts small loss for Q4

Enerplus Corp. reported a small fourth-quarter loss, weighed down by higher financing charges and softerthan-expected hedging gains, the company said Friday. Net loss in the quarter hit $995,000 or a penny per share, compared with a net profit of $2.72 million in the fourth quarter of 2009. [Read more] Source:...

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DHMI to raise $35m for newbuilding

Daewoo-Mangalia Heavy Industries (DMHI), a jv between Korean shipbuilder Daewoo Shipbuilding & Marine Engineering (DSME) and Mangalia Shipyard in Romania is going to securitize account receivable to invest newbuilding. [Read More] Source: Seatrade A...

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Eurasia Сanal project delayed

The construction of a navigable canal connecting the Caspian Sea and the Azov-Black Sea basin (Eurasia Canal) has been postponed until Kazakhstan's cargo base is warranted, Russia’s Deputy Transport Minister Viktor Olersky said in an interview with journalists,...

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BP says to shut Angolan Plutonio oilfield in April

A BP spokesman said the oilfield was now pumping around 90,000 barrels per day (bpd), close to half its average output since it came on stream in 2007. [Read more] Source: International Business Ti...

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Baltic index rises, capesize market seen pressured

The Baltic Exchange's main sea freight index .BADI, which tracks rates to ship dry commodities, turned barely positive on Friday, although sentiment was expected to remain weak due to a [Read More] Source: Reut...

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IP and Hempel follow Jotun's price rise

Following Jotun’s announcement of a coatings price rise, another two manufacturers have announced price rises due to escalating raw material costs. [Read More] Source: Tanker Opera...

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US Regulators State Refusal To Restart Drilling Despite Political Pressure

Interior Secretary Ken Salazar said that U.S. regulators would not bow to political pressure to restart deepwater drilling in the Gulf of Mexico before they are certain the oil-and-gas industry is capable of containing an oil spill like the one that followed last BP’s Deepwater Horizon disaster. [Read...

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Hanjin Shipping takes delivery of two new containerships

South Korea-based Hanjin Shipping has taken delivery of two 8,600TEU class containerships named Hanjin Hamburg and Hanjin New York. [Read More] Source: Trading Mar...

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Overcapacity unlikely in 2011 as recovery will continue – NOL

Neptune Orient Lines (NOL) has played down concerns over excess tonnage in 2011 that could drag down container freight rates and spoil the fairy-tale recovery story. [Read More] Source: Cargonews A...

Posted on 2/27/2011 / 0 comments / Read More

Hapag-Lloyd looks to find 'anchor investor' with April IPO

THE owners of Hapag-Lloyd will aim for a initial public offering in mid-April with a target valuation of US$5 billion, according to the German carrier and its major shareholders TUI and the Albert Ballin consortium. [Read More] Source: Sea N...

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Piracy threatens Europe’s supply of jet fuel, diesel

Pirate attacks are starting to distort world fuel trade, threatening supplies of jet fuel and diesel to Europe from Asia, because higher premiums for shipping make trade uneconomic. [Read More] Source: Independent Onl...

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Madagascar navy rescues pirate-seized vessel

Madagascar's navy Sunday towed into Antsiranana port a hijacked Comoros-flagged vessel almost a week after its captain and two suspected pirates arrived on the island to seek help, an official said. [Read More] Source: ...

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Petrobras begins extended well test in pre-salt of Marlim Leste field in Campos Basin

Petrobras announces the start up of the Extended Well Test (EWT) for the Tracajá reservoir, located 124 km off the coast of Rio de Janeiro, in the pre-salt area of Marlim Leste field, in Campos Basin. [Read more] Source: Penn Ene...

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Dry bulk ship owners unfazed by market’s downturn, keep newbuilding orders in focus

Even though the dry bulk market, in terms of earnings underwent one of the slowest year starts in history, with the industry’s benchmark, the Baltic Dry Index posting consecutive falls for weeks, up until February, ship owners kept on ordering new vessels, in a clear indication that they believe in...

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Investments of NOK 65 billion to increase recovery in the Ekofisk Area

The Norwegian Ministry of Petroleum and Energy today received Plans for Development and Operation (PDO) on the Ekofisk and Eldfisk fields. The projects (Ekofisk South and Eldfisk II) will entail investments in the region of NOK 65 billion. [Read more] Source:...

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Salamander Energy announces Bualuang field operational update

Salamander Energy plc is pleased to announce a reserves upgrade to the Bualuang oil field and the commencement of its drilling programme in the B8/38 licence, Gulf of Thailand. Salamander is operator and holds a 100% interest in the B8/38 licence. [Read more] Source:...

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Hyundai lands $1.2bn FPSO

Hyundai Heavy Industries has landed an offshore newbuilding order worth more than $1bn from BP. [Read More] Source: Asia...

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Statoil announces subsea contract propels fast track ambitions

Statoil picks up the pace towards realizing fast track field developments offshore Norway. A contract signed recently with Technip for marine operations and pipelay on the Gygrid field development in the Norwegian Sea is proof. “This agreement moves us one step...

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Daewoo to meet $15bn orders

Korea's Daewoo Shipbuilding & Marine Engineering is expected to score a maximum of $15bn in new orders for this year. Kim Hong-keun, researcher at Seoul-based Dongbu Securities, says, "Daewoo has been ensured to build a bunch of boxships for Denmark's Maersk, already securing $2.35bn in new orders...

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Subsea 7 wins $60MM contract to link Ensign to Audrey in the North Sea

Subsea 7 S.A. announced the award of an engineering, procurement, installation and commissioning contract from Centrica Energy Upstream for the flowlines and subsea works on the Ensign Project, approximately 18km North West of the Audrey ‘A’ platform, located over Block 48/14 and 48/15 of the UK Sector...

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Leading Subsea Company Attracts Global Interest

Brisk business has been reported by Aberdeen-based Ecosse Subsea Systems, following the Subsea 2011 event in the city recently.First-time exhibitors Ecosse Subsea Systems have announced interest from across the globe in all divisions of the company, particularly...

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Study lists Alaska Arctic OCS development's potential benefits

Development of resources in the Chukchi and Beaufort seas off Alaska’s Arctic coast would create an average 54,700 jobs/year nationwide with a $145 billion total payroll and generate $193 billion in federal, state, and local revenue over 50 years, according to...

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China's biggest offshore construction yard expects to post loss

The Board of CIMC Raffles Offshore (Singapore) Limited said Friday that it expects to report a loss for the financial year ended December 31, 2010. CIMC Raffles Offshore, now a subsidiary of China International Marine Containers (Group) Co. Ltd., owns and manages...

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Lukoil, Vanco win Black Sea blocks

LUKOIL Overseas and Vanco International are set to jointly explore two blocks in the Romanian sector of the Black Sea. The duo has signed concession agreements with Romania’s National Agency for Mineral Resources for the Est Rapsodia and Trident blocks. LUKOIL Overseas will have an 80% interest and...

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IHI Corp will ally with a top Singaporean shipbuilder Jurong Shipyard Pte.

JAPAN PRESS: IHI Corp will ally with a top Singaporean shipbuilder Jurong Shipyard Pte. Ltd to construct offshore oil rigs to survive stiff competition with South Korean makers, the Nikkei reports. IHI will oversee overall rig design and make the floating structures...

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Major Offshore Project Activity Grants Bright Future for Dockwise (The Netherlands)

Dockwise Ltd., a world leader in heavy marine transport, today publishes results for the three month period and full year ended 31 December 2010. After a tough year, Q4 was a quarter of healthy performance. The quarter saw the successful completion of the offshore...

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Doosan Engine Orders May Double on Ship Pickup, Non-Marine Push

Doosan Engine Co., the world’s second-largest maker of ship engines, said orders may more than double this year as shipping lines resume fleet-enlargement plans and the company works to expand its non-marine businesses. [Read More] Source: Bloomb...

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More ships, less new orders for shipbuilders

Global oversupply of ships has made new shipbuilding orders hard to come by for local firms and that’s affecting revenue visibility [Read More] Source: livem...

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The Deepsea Bergen contract is signed

Statoil and Odfjell Drilling have signed the contract for «Deepsea Bergen» commencing in June 2012. Odfjell Drilling was awarded a Letter of Intent from Statoil in October last year for the utilization of «Deepsea Bergen» for development drilling on the NCS. The...

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Northern Offshore announces new contract award for Jackup Energy Endeavour

Northern Offshore, Ltd.  today reported that its subsidiary, Northern Offshore U.K. Limited, was awarded a contract with Maersk Olie og Gas AS ("Maersk"), for the jackup Energy Endeavour.  The award is subject to approval by the Danish Energy Authority....

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FoundOcean awarded Troll P12 project in the North Sea by Subsea 7

FoundOcean will manufacture and install two fabric formwork grout bags to support the expected freespan of the new 36” pipeline at the approach to the Troll A Platform, in the Norwegian Sector of the North Sea. The worksite is in approximately 330m water depth. [Read...

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Rowan Companies Inc. Has Gapped Up To A New High After Q4 Report

Rowan Companies Inc. reported fourth quarter net income of $0.45 per share Friday morning, compared to $0.53 per share last year. Results for the latest quarter included $0.03 per share of net gains on debt redemptions and asset disposals, compared to $0.01 per...

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MirTac succesfully implemented Star at underwater specialist Seatec

MirTac has successfully completed the implementation of asset management system Star IPS at Seatec. MirTac supports Seatec in her maintenance, safety and audit operations for her diving and ROV projects. [Read more] Source: Logistics W...

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Sonde Resources Corp. Announces: - REVISED TERMS AND THE CLOSING OF THE SALE OF LIBERTY NATURAL GAS LLC

Sonde Resources Corp. announced today that it has completed definitive documentation and closed the previously announced sale of Liberty Natural Gas LLC (the "Company") which owns a 100% working interest in the Liberty Natural Gas LNG project (the "Project") to...

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Malaysia: Petronas Extends Contract with Tanjung Offshore for 3 Offshroe Support Vessels

Tanjung Offshore Services Sdn Bhd (TOS), a wholly owned subsidiary of Tanjung Offshore Bhd, has been awarded a contract extension from Petronas Carigali Sdn Bhd for the provision of three units of offshore support vessels (OSV). [Read more] Source: Offshore Energy...

Posted on 2/27/2011 / 1 comments / Read More

CGGVeritas Joint Ventures

CGGVeritas has signed a term sheet with JSC Geotech to create a joint venture to operate 2D and 3D marine seismic vessels, primarily in Russian and CIS waters, and with Elnusa to carry out 2D and 3D marine seismic surveys, in Asia Pacific Region, with main focus...

Posted on 2/27/2011 / 0 comments / Read More

Norway. STX Europe 4Q 2010 strong improvement

Successful IPO in Singapore of STX OSV Holdings Limited ("STX OSV") - the former Offshore and Specialized Vessels division. STX Europe maintain a 69.02% equity stake in STX OSV which currently has a market capitalization of approx. NOK 6.0 billion. [Read More] Source:...

Posted on 2/26/2011 / 0 comments / Read More

Japan may offer SBQ plates at USD 1000 FOB to Korean shipbuilders

TEX reported that Japan's integrated steelmakers are expected to offer prices beyond USD 1,000 per tonne FOB when they start negotiations this week on their export deals of ship plates for shipments to South Korea in the April to June 2011 quarter. If the offer prices go through, the new prices would...

Posted on 2/26/2011 / 0 comments / Read More

Aban JV in contract for early redelivery of drillship

Aban Offshore, which provides offshore services to the oil sector, said on Friday its joint venture, Venture Drilling AS , has signed an agreement for early redelivery of a drillship to its Russian owner.  [Read more] Source: Economic Ti...

Posted on 2/24/2011 / 0 comments / Read More

China Sinopec to participate in Brazil oil rounds

China's Sinopec Corp said it planned to participate in Brazil's next oil and gas bidding rounds, which should be restarted after the passage of a reform of the country's oil law expected this year. [Read more] Source: Reut...

Posted on 2/24/2011 / 0 comments / Read More

Pennsylvania Gas Well Blast Injures 3 Workers

An explosion and fire at a gas well injured three workers Wednesday night, authorities said. The blast, at the Chesapeake Appalachia LLC Powers site in Avella, was reported at about 6:20 p.m., Washington County emergency officials said. [Read more] Source: Fo...

Posted on 2/24/2011 / 0 comments / Read More

Anadarko shuts Ivory Coast operations

Anadarko Petroleum Corp shut its Ivory Coast operations in February because of political unrest in that country, the U.S. oil and gas company said Wednesday in a filing with regulators. [Read more] Source: Reut...

Posted on 2/24/2011 / 0 comments / Read More

Repsol 2010 net income triples to 4.69 billion euros

Repsol posted net income of 4.693 billion euros for 2010 compared to 1.559 billion euros in the previous year. Excluding extraordinary items, recurring net profit improved 54.9% to 2.360 billion euros. [Read more] Source: Your Oil & Gasn New...

Posted on 2/24/2011 / 0 comments / Read More

Daewoo hopes another 10 boxships

Korea's Daewoo Shipbuilding & Marine Engineering seems to obtain optional 10 boxships of 18,000 TEU with ease from Denmark's AP Moller-Maersk no later than May. [Read More] Source: Asia...

Posted on 2/24/2011 / 0 comments / Read More

ATP Announces Strategic Expansion into Offshore Israel

ATP Oil & Gas Corporation is expanding its deepwater operating and infrastructure expertise to offshore Israel. Subject to approval of the Ministry of National Infrastructures (MNI), ATP has signed agreements to acquire five licenses, of which two are pending, in approximately 4,000 feet of water. T....

Posted on 2/24/2011 / 0 comments / Read More

Chinese upgrade shipbuilding-tech

Chinese shipbuilders, who used to flood the market with a huge amount of newbuildings, are increasingly moving to high value-added ships that require high technology, threatening Korean counterparts. [Read More] Source: Asia...

Posted on 2/24/2011 / 0 comments / Read More

Pirates say they’re bolstering 30 hijacked ships with men

Pirates in Somalia said Wednesday they are ferrying ammunition and men to the 30 hijacked vessels still under their control, and they threatened to kill more captives after the violent end to a hostage standoff that left four Americans dead. [Read More] Source:...

Posted on 2/24/2011 / 0 comments / Read More

Eni: new successful well at super-giant Perla gas field, offshore Venezuela

Eni announces the successful results of the Perla-4 appraisal well, located in the Cardón IV Block in the shallow water of the Gulf of Venezuela. This well upgrades the estimate of gas in place of the Perla field, a super-giant gas discovery, to over 16 Tcf (2.9...

Posted on 2/24/2011 / 0 comments / Read More

KR plans to increase inspection charge

Korean Register of Shipping (KR) is planning to lift the vessel inspection fee that has not been increased for three years due to the recent shipping and shipbuilding industries' depression. [Read More] Source: Seatrade A...

Posted on 2/24/2011 / 0 comments / Read More

Christchurch quake: Lyttelton Port badly hit

Lyttelton Port was one of many Canterbury companies counting the cost of the earthquake last night. The port received major damage, said chief executive Peter Davie. [Read More] Source: nzher...

Posted on 2/24/2011 / 0 comments / Read More

Australia's LHD01 hull launched in Spain

The hull of the first of the Royal Australian Navy’s two new amphibious ships has been launched in Spain. “These ships are officially known as Landing Helicopter Docks or LHDs and are the largest the Australian Navy has ever owned,” Chief of Navy Vice Admiral...

Posted on 2/24/2011 / 0 comments / Read More

P&I Club warns on fire preparedness

The London P&I Club says the response to two recent onboard cargo fires has highlighted the value of both fire-fighting training and realistic shipboard drills for ships’ crews. [Read More] Source: Motors...

Posted on 2/24/2011 / 0 comments / Read More

Rolls-Royce Bags $81.2MLN Deep Water Anchor Handling Equipment Contract for Vessels in Brazil

Rolls-Royce, the global power systems company, has been awarded a contract by STX OSV Trading to supply technologically advanced anchor handling systems. The equipment will be installed on three vessels operated by offshore services company Norskan for use in...

Posted on 2/24/2011 / 0 comments / Read More

Jumbo Shipping decommissions Fairmast

After almost three decades of transporting heavy lift and project cargo, Jumbo's Fairmast will be the first of its two D-Class vessels to be decommissioned. [Read More] Source: Heavy L...

Posted on 2/24/2011 / 0 comments / Read More

Apache Restarting Gas Output as Cyclone Floods Chevron LNG Site

Apache Corp. will start its gas plant at Varanus Island today after production was halted by a tropical cyclone that also flooded the site of Chevron Corp.’s Gorgon project off Western Australia. [Read more] Source: Bloomb...

Posted on 2/24/2011 / 0 comments / Read More

Indian authorities blamed German freighter for the sinking of fregate INS Vindhyagiri

The "Nordlake" has been placed under civil arrest by the Bombay high court and on Feb 23 was directed not to leave the Indian waters. The vessel had caused damage of approximately Rs 1,000 crore to the fregate "Vindhyagiri" and was accused to have disregarded...

Posted on 2/24/2011 / 0 comments / Read More