Burleson Energy has gas shows at Heintschel # 2 well in Texas

Sydney based Burleson Energy's Heintschel # 2 well has been drilled to a final total depth of 11,900 feet (3627 metres), recording gas shows in the primary reservoir section. Heintschel #2 is the third well to be drilled on the broader Heintschel structure and...

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MEO Australia Announces Designated Authority grants 5 year renewal of WA-361-P

MEO Australia Limited has been advised by the Western Australian Department of Mines and Petroleum as the Delegate of the Designated Authority on behalf of the Western Australia Offshore Joint Authority, that exploration permit WA-361-P has been granted a five...

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Petrobras Announces Anticipation of Pre-Salt Projects

Petrobras, as the operator of Blocks BMS-11 and BMS-9, announces that it was approved the chartering of two new FPSO- platforms, intended for use in the Guará-Norte area and Cernambi field (previously known as Iracema area), located at the Santos Basin pre-salt...

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Calderon Shuffles Mexico's Cabinet, Names Jose Meade as Energy Minister

Mexican President Felipe Calderon announced changes to his Cabinet, appointing a new energy minister who may be able to make more progress moving forward measures in Congress to boost oil production. [Read more] Source: Bloomber...

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Alaska pipeline closed, no restart date set

The Trans Alaska Pipeline was shut for a second day on Sunday because of a leak, with no indication of when it would reopen, sending oil prices higher on fears that a prolonged closure could restrict U.S. supplies. [Read more] Source: Reut...

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Blast 'a surprise': Canadian Natural

The head of operations at Canadian Natural Resources' Horizon oilsands mine north of Fort McMurray said the upgrader explosion and fire Thursday that injured five staff came as a complete surprise. Senior vice-president Peter Janson said there had been repairs...

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Japanese handles new orders with clam

Takao Motoyama, chairman of the Shipbuilders' Association of Japan (SAJ), remarked in the New Year speech that the global economy barely started to show signs of a recovery last year with back of emerging countries' growth, getting out of the worst situation since the Lehman Shock. [Read More] Sour...

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Korean to win back No.1

Korea's shipbuilding industry is believed to win back the world‘s No.1 position this year after it was defeated by its Chinese rivals in the main three indicators of the shipbuilding industry last year. Chinese yards started to get ahead of Korean yards in new...

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High court to review class action vs. Halliburton

The Supreme Court agreed on Friday to hear an appeal by Halliburton Co. shareholders who want to pursue a class-action lawsuit claiming the oil services company inflated its stock price starting when former Vice President Dick Cheney ran it. [Read more] Source: The Washington P...

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How mother ships change pirate tactics

THE INCREASED use of hijacked vessels as mother ships by Somali pirates has reduced their dependence on ideal weather conditions, according to a new report from Risk Intelligence. “Piracy off Somalia has traditionally tapered off during the monsoon, but with this...

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Pirates fail off Oman

TWO SHIPS have avoided capture off Oman by using razor wire and other anti-piracy measures, EU NAVFOR reported. Suezmax tanker Front Warrior was attacked yesterday by pirates in a skiff about 300 n-miles southeast of Muscat, according to the anti-piracy force. [Read More] Source:Safety at ...

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Hess increases 2011 capex; plans $1.6B in field developments, $3.1B in production upgrades

Hess Corporation announced a 2011 capital and exploratory budget of $5.6 billion, nearly all of which is targeted for Exploration and Production: $3.1 billion for production, $1.6 billion for developments and $900 million for exploration.  John B. Hess, Chairman and CEO, stated, “We are pleased...

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Cairn sees 2011 Greenland investment steady v 2010

UK oil and gas firm Cairn Energy expects investment in its Greenland exploration this year roughly to equal the $500 million it spent drilling there in 2010, a Cairn executive said on Friday. Greenland is a new Arctic frontier for oil and gas exploration and according to a 2008 assessment by the U.S....

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Shandong yards built 41.6pc more ships at 110pc more value

EASTERN China's Shandong provincial shipbuilders exported 41.6 per cent more tonnage in the first 11 months of the year, amounting to US$1.8 billion in value, a year-on-year increase of 110 per cent, Xinhua reports. In November, the province's ship export value set a new high by hitting $350 million,...

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Greenland Oil Allure ‘Enormous’ on Ice Thaw, Prices

Greenland’s energy bureau said it’s met “enormous interest” in licensing rounds planned for the next two years as rising oil prices and ice thaw fueled by global warming make Arctic exploration more feasible. [Read more] Source: Bloomb...

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STX Pan Ocean to buyout Gulf Pacific Shipping

Seoul: South Korea-based STX Pan Ocean is buying out its investment in a joint venture firm by acquiring the remaining 50% stake at a price of $1.5m. STX Pan Ocean (Hong Kong) will fully acquire Gulf Pacific Shipping as it seeks to strengthen bulk affreightment...

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Fugro About to Enter Iraqi Oil and Gas Industry

Fugro NV, the world’s largest surveyor of deepwater oil fields, is about to enter the Iraqi oil and gas business as oil majors are stepping up their exploration and production in the nation. “The security situation is improving,” Chief Executive Officer Klaas...

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High Plains Gas Begins Operating Newly Acquired Marathon Oil Assets in Wyoming's Powder River Basin

High Plains Gas, Inc. announced that it has officially taken over the operations of Marathon Oil's Powder River Basin natural gas wells known as the North and South Fairway assets effective December 1, 2010. These assets consist of 1,614 coal bed methane wells...

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Acergy, Subsea 7 complete deal

The combination of Subsea 7 SA and Acergy SA was completed today, as scheduled. When we announced the intention to combine both organizations we said this was an excellent strategic fit, with industry fundamentals strongly supporting the logic of the combination,”...

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United States Marine Corps and Concurrent Technologies Corporation Win Defense Logistics’ Best Tech

The United States Marine Corps Logistics Command recently received the Best Technology Implementation Award from Defense Logistics for a technology developed in partnership with Concurrent Technologies Corporation (CTC).  The award-winning project was...

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Chinese New Year surge to reactivate idle ships

Idle containerships, which account for 326,000TEU worldwide, will be reactivate to meet higher demand in the weeks ahead of Chinese New Year. The period marks the holiday period for most factories in China. [Read More] Source: Baird Marit...

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Japan to develop electric fishing boat

A consortium including the Tokyo Electric Power (TEPCO) and the Japanese Fisheries Ministry, plan to begin trials in July of an electric fishing vessel with a lithium ion battery. This will be the first time that the CHAdeMO quick-charging system finds use in an electric fishing boat. A 30-minute charge...

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Ningbo Marine Company raises funds for newbuildings

Ningbo-based state holding shipping firm, Ningbo Marine Company Limited,  offered to the public RMB720m convertible bonds to fund four newbuildings, according to the announcement on the Shanghai Stock Exchange. [Read More] Source: Sea N...

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Maersk Line Loses Market Shares

The world’s largest container line is still based in Denmark. But A.P.Møller-Mærsk’s Maersk Line has been losing market shares since 2005. This appears of the newsletter Alphaliner. Since September 2005 Maersk Line’s market share has decreased from 18.2 per cent...

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Chinese freighter detained in Philippines

Chinese freighter detained in Philippines for attempt to load ore from controversial mine Chinese general cargo Gold Eagle arrested by Philippinese authorities in Barangay Baloganon mining port, vessel docked without proper permission for loading chromite ore...

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Shanghai overtakes Singapore as world’s busiest port

Shanghai said it overtook Singapore for the first time in 2010 to become the world’s busiest container port, as the global economic recovery boosted cargo traffic through China’s business centre. Shanghai’s port handled 29.05 million 20-foot equivalent units,...

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Japanese shipping trio diverge on prospects

The big three Japanese shipping and logistics companies have an unusual level of divergence in their New Year messages, with Mitsui OSK Lines striking a more optimistic note for the future of the shipping sector than either NYK or K-Line Koichi Muto, President...

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Dry Bulk Market Averages for 2010

The average of the BDI last year was 2,758 up by 5.4% on the 2,617 of 2009. In terms of performance by sector Capes (BCI) fell 16.5% to 3,480 from 4,172, Panamaxes rose to 3,115 from 2,405 up 29.5%, Supramaxes (52kdwt) rose to 2,148 from 1,658 up 29.6% and Handysize (28kdwt) rose from 788 to 1,124:...

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Higher war risk cover for cargo ships likely to boost freight rates

Cargo ships transiting the Indian Ocean will have to pay higher premiums for war risk covers as marine insurers are expanding the exclusion zone for such policies because of widening pirate attacks in recent weeks. This could potentially raise shipping costs into and out of India as the expansion would...

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Gulfsands Petroleum Zahraa Exploration Well Disappoints

Oil and gas company Gulfsands Petroleum PLC  said Friday its Zahraa 1 exploration well in Syria has been suspended after drilling detected only minor oil and gas shows. The firm said data from the well will now be reviewed to see if there is any remaining potential in the Zahraa structure. The...

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Shell taps Kentz for engineering work at Pearl GTL plant in Qatar

Kentz Corporation Limited has been awarded a Framework Agreement to provide services in executing Plant Change Requests by Qatar Shell GTL Limited.  Under the Framework Agreement, Kentz will provide engineering design, construction supervision and procurement...

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European seafarer: RIP?

Deaths can, as an American author famously experienced, be prematurely announced and obituaries often written while their subjects are still in the land of the living. So the idea now gaining ground that the European seafarer is now on his or her deathbed might too be a false rumour, but if the subject...

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Arabian Gulf tanker rates decline on surplus vessels for hire

The cost of shipping Middle East crude oil to Asia, the world’s busiest route for supertankers, declined on a surplus of vessels for hire. Charter rates for very large crude carriers, or VLCCs, on the industry’s benchmark Saudi Arabia to Japan voyage declined...

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Brightoil inks $4 bln deal with China Dev Bank, shares at record

China's Brightoil Petroleum (Holdings) Ltd signed a pact with China Development Bank under which the bank will offer financing support for operations requiring $4 billion as the marine bunker supplier plots a rapid expansion. [Read more] Source: Reut...

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A weak economical recovery and flurry of new ships to dampen shipping rates in 2011

As 2010 ended, concerns about most shipping industry’s segments began mounting with evidence of a weak economical recovery further deteriorating hopes of a swift recovery of freight rates. According to BIMCO’s newest analysis from Peter Sand, global recovery is...

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Daewoo Shipbuilding to partner with China's Rilin Group

Daewoo Shipbuilding and Marine Engineering , the world's second largest shipbuilder, said on Sunday that it signed a cooperation agreement with China's Rilin Group on the vessel repair and wind power sector. [Read More] Source: Reut...

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Cyprus. Songa Offshore SE (NO) December fleet update

Songa Venus achieved operating efficiency of 100% during the month.  The rig completed its well for MEO Australia under contract farm out from Shell Development (Australia) during the month and the rig commenced mobilization to Total E&P Australia location...

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BG Group: Production facilities tender for offshore Brazil

BG Group and partners today announced a tender process for the charter of two further Floating Production, Storage and Offloading (FPSO) vessels to be used in the full field development of the discoveries on blocks BM-S-9 and BM-S-11 in the Santos Basin, offshore...

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Norwegian firm Seadrill heads back to Burma

The Norwegian firm Seadrill will set up its ‘West Juno’ gas drilling rig in Burmese waters to undertake contract work for the Thai oil firm PTT Exploration & Production Company Ltd (PTTEP). The rig will be in Burmese waters for four months. Construction of...

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ClampOn will deliver subsea monitors to the Statoil operated Pan Pandora Project

Pan Pandora is an offshore oil and gas field located in water depths of approximately 950 feet (290 meters) in the Norwegian sector of the North Sea. ClampOn will deliver subsea sand monitors to FMC who has the contract for supply and manufacture of subsea production...

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Forum Energy Technologies Introduces Major Software Release – VMAX 2.

Forum Energy Technologies, Inc.(FET) announced that its Subsea Solutions business has released VMAX 2.0, an extensive upgrade to their existing VMAX Project Simulator software. VMAX is used by operators, service companies and engineering firms to run simulations...

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Salamander Energy plc: Bualuang East Terrace Exploration, Gulf of Thailand

The Ocean Sovereign jack-up rig, contracted for the B8/38 drilling campaign, is currently held up in Johor, Malaysia, while the rig’s owner, Offshore Diamond, completes its  foreign business licence  paperwork to allow entry into Thai waters.  Once these administrative issues have been...

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Work Starts on Trelleborg Offshore's New Brazil Facility

Trelleborg has marked the start of work on its new Brazil facility with a sod-cutting ceremony at the site in Macaé.The new facility, due to open towards the end of 2011, will manufacture Trelleborg Offshore’s complete product portfolio, which includes a wide...

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BOURBON: Corporate Governance Changes at BOURBON

On the recommendation of Jacques de Chateauvieux, the Board of Directors of BOURBON, meeting on December 6, 2010, decided to separate the functions of Chairman of the Board of Directors and Chief Executive Officer, with effect from January 1, 2011. Jacques de...

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Marco Polo acquires utility vessel to expand its offshore business to Thailand

Marco Polo Marine Ltd (“Marco Polo Marine” or the “Group”), a growing integrated marine logistic group is pleased to announce that its Singapore incorporated wholly-owned subsidiary, Marco Polo Offshore (II) Pte Ltd (“MPOII”) has signed a memorandum of agreement...

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AsherXino Corporation Negotiating with Large Oil and Gas Company to Farm Out Drilling Program On Its

AsherXino Corporation today announced that it is negotiating with a large oil and gas company on a partial farm out of AsherXino's Oil Prospecting License (OPL) 2012 offshore of Nigeria. Details of the proposed farm out were not disclosed. AsherXino is an oil...

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