SANTOS TICKS $US16B GLADSTONE GAS PROJECT

Santos Ltd says the Gladstone Liquid Natural Gas (GLNG) partners have approved the development of the $US16 billion ($A16.11 billion) GLNG project in Queensland. Santos says major works will now to commence for upstream field development, pipeline and LNG plant...

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Hercules In Talks To Manage Two New Shallow-Water Rigs

Hercules Offshore Inc. (HERO) said Wednesday that it is negotiating a contract to manage and market a pair of new harsh-environment drilling rigs that are expected to be ready to operate in 2013. Hercules, which announced the talks in a regulatory filing, didn't...

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Trans-Alaska Oil Pipeline restarts at reduced rate

The Trans-Alaska Oil Pipeline has restarted at a reduced rate following a leak that shut-down the pipeline over the weekend. Revealed in an announcement from the pipeline operator Alyeska Pipeline Service Company, as well as regulatory groups US EPA and Alaska...

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Exxon Mobil Looking For Buyers Of North Sea Assets

Exxon Mobil Corp. said Wednesday that it is shopping its stake in four North Sea oil and gas fields. The U.K. unit of ExxonMobil's recently acquired XTO Energy owns the properties, according to a document announcing the sale released by IndigoPool, Schlumberger Ltd.'s (SLB) mergers and acquisitions...

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Shell Fears Yearlong Delay Of Alaska Drilling Program

The head of Royal Dutch Shell PLC's U.S. entity fears difficulties in gaining a federal air-quality permit will push back its long- delayed plans to drill in Alaska's Artic waters by another year, the Financial Times reported online Wednesday. [Read more] Source:...

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Gulf of Mexico oil spill: BP's Doug Suttles to retire

BP has confirmed that Doug Suttles, the man who helped lead the clean-up of its Gulf of Mexico oil spill, will leave the company. The oil giant said on Wednesday that Mr Suttles was retiring from his role as chief operating officer of BP's exploration and production...

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Venture to focus on port and ship surveillance

CASSIDIAN, security arm of Europe’s EADS aerospace group, has formed a partnership with Germany’s Atlas Elektronik that will focus on ship and port surveillance. The venture, called Signalis, was formed through the combination of Cassidian subsidiary Sofrelog with Atlas Maritime Security. Cassidian...

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Ransom payers seek blessing from Washington

PRESIDENT Obama’s order targeting Somali financial transactions has spurred many international shipowners to seek US pre-approval for ransom payments, Fairplay has learned. On 13 April 2010, Obama issued an emergency directive to the Office of Foreign Assets Control, targeting certain Somali individuals...

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Russia to auction Lodochnoye oilfield in Q2-report

Russia is to auction off the mid-sized Lodochnoye oilfield in the second quarter of this year, Interfax news agency reported on Wednesday, citing a government decision. The field, in the Krasnoyarsk region of Siberia, has recoverable oil reserves of around 43.2 million tonnes and around 69.8 billion...

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Container ship optimization yields significant fuel savings

The lines of a 9,000 TEU container ship series were significantly improved in a joint venture of the Chinese design office Maric and Germanischer Lloyd's subsidiary FutureShip. [Read More] Source: Motors...

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SUCCESSFUL FUEL CELL TEST ON BOARD DREDGER

The company ran a pilot test in which energy derived from hydrogen was the sole source used to power the electrical equipment on board a dredger. The sustainable energy test took place at the Haringvliet estuary with one of the latest generation of standard cutter...

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World's largest heavy lift vessel to visit India

MV Svenja, which is claimed to be the world's largest heavy lift vessel with a lifting capacity of 2,000 tonnes and speed of 20 knots, will arrive in India later this week on its maiden voyage. [Read More] Source: Heavy L...

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Philippines: Four fishermen spend four nights floating at sea

Philippines: A passing cargo vessel near Balabac Island in the South China Sea rescued four fishermen who had been floating in the sea for almost four days. The four fishermen were reported missing by their families and were rescued January 7 by a Bahamian-flagged vessel ‘Aspen Arrow’ as it was passing...

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Korea: 2010 port traffic breaks records

Korea’s Ministry of Land, Transport and Maritime Affairs has announced that port container traffic in 2010 rose by 18.3 percent from 2009 to a record 19.33 million TEU. This is also a 7.8 percent increase from 2008, the previous high. [Read More] Source: Baird...

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Russneft agrees $6.2 bln debt restructuring

Russian mid-sized oil company Russneft has agreed to extend to 2020 repayment of a $6.2 billion debt with its main lenders Sberbank, the country's largest bank, and Glencore International AG  and cut the interest rate to 9% from 12%, Russneft said on Wednesday. [Read more] Source: RIA Novo...

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Danish ship's owner reports pirate attack

A Danish cargo ship with six crew was attacked by pirates in pirate-infested waters of the Gulf of Aden off Oman, its owner said Wednesday, days after a similar assault on an Indian vessel. [Read More] Source: MSN N...

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U.K. Denies Centrica’s Request to Ease Rough Gas Rules

Centrica Plc’s request to remove restrictions on its management of the Rough natural gas storage plant in the North Sea was provisionally denied by the U.K. government in order to protect competition. The country’s biggest energy supplier agreed to the rules following...

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Baltic index at near 2-yr low, supply glut bites

The Baltic Exchange's main sea freight index .BADI, which tracks rates to ship dry commodities, fell to its lowest in nearly two years on Wednesday as growing fleet supply and slow trade hit sentiment. Brokers said flooding in Australia was disrupting shipping...

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Yemen suspends oil minister over queues for petrol

Yemen's president on Wednesday suspended his oil minister and the head of the national oil company over a fuel shortage that has forced people to queue at petrol stations, the defence ministry said. "The minister for oil and minerals, Amir Salem al-Aydarus, and...

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Danish industrialists show interest in shipbuilding

The Danes are back, this time as friends and partners, vying for space in mutual maritime ventures and not as erstwhile lords and colonialists. The Danish Maritime Group is on a fact-finding mission in India,concerning the potential of shipfaring and shipbuilding Industry in India. Mr Ulrik Dahl of...

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Equatorial Guinea okays Alen condensate project

Equatorial Guinea has approved a Noble Energy Inc. group’s development plan that calls for condensate production to begin by the end of 2013 from Alen gas-condensate field in the Douala basin off Equatorial Guinea. As Alen field produces 37,500 b/d of condensate...

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Second train in prospect for Hammerfest LNG

Statoil and its partners in the Snøhvit license in the Norwegian Barents Sea are considering building a new LNG plant at Melkøya Island in Hammerfest (Train II). The licencees have conducted a feasibility study into expanding processing capacity at the Hammerfest...

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Ship owners get $1.8b loan to acquire 20 new carriers

INDIGENOUS ship owners in Nigeria have secured a $1.8billion (N270billion) facility from Nationwide Finance  Miami, Florida to  purchase  20  new crude carriers. Accessing the funds, will however depend on the ability of the local ship operators to sway the Federal Government to...

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Eni, BP start recovering costs on Iraqi oilfields

Output at Iraq's Zubair oilfield has reached 265,000 barrels per day, enough to allow oil companies led by Italy's Eni (ENI.MI) to start recovering their investment costs, an Iraqi oil official said on Wednesday. [Read more] Source: Reut...

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Payment to Korean yard: SCI's Iranian venture faces rough weather

Irano-Hind Shipping Company, a joint venture between Shipping Corporation of India and the Islamic Republic of Iran Shipping Line, is facing trouble in making payments for a ship being built at a South Korean yard on account of the economic sanctions against Iranian companies. According to those familiar...

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Norwegian gas exports increase

Norwegian trunklines operator Gassco transported 97.3 bcm (3.4 tcf) of gas from Norway to terminals in Europe during 2010. This represents an increase of 700 000 cu m (24.7 MMcf) over the total for 2009. The gas was piped from fields on Norway’s continental shelf...

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Coal Ships Head for Atlantic on Flood Disruption

Ships that haul coal and iron ore are heading for the Atlantic Ocean as flooding in Australia disrupts cargo volumes and activity in Pacific contracts, RS Platou Markets AS said. The Australian state of Queensland’s worst floods in 50 years have inundated an area...

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OMV set to withdraw from Rockall license

OMV (Ireland) Killala Exploration has agreed to pay San Leon Energy £3 million ($4.7 million) to be allowed to exit a permit offshore western Ireland. The transaction is subject to approval from the Irish government. Currently OMV and San Leon each hold an undivided...

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Crews call off search for missing fisherman

A man who fell from a fishing ship into frigid seas south of Prince Rupert Tuesday is now assumed dead. An unidentified man went overboard from the 110-metre Northern Victor at 5 p.m. Tuesday, officials from the Joint Rescue Co-ordination Centre in Victoria said....

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Delek Group proposes LNG plant in Cyprus to process massive natural gas finds offshore Israel

According to a report from Reuters, Israeli energy investment firm Delek Group has proposed the construction of a liquefied natural gas (LNG) processing facility in Cyprus. The LNG facility could support the recent natural gas finds offshore Israel, including...

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French Port Strike Closes Le Havre Terminals

All dockworkers and a large number of port staff in Le Havre joined a national strike Wednesday shutting down shipping terminals at France's largest container port. France’s FNPD-CGT union called the strike to press demands for early retirement for those who carry...

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Dry bulk rates hit new multi-month lows on Australia’s floods

Floods in Australia’s Queensland has seriously disrupted coal shipments and together with a flood of vessels has pushed freight rates for dry bulk carriers to new multi-month lows. As a result, the Baltic Dry Index fell further yesterday to just 1,453 points, losing 1.82% on the day, while the suffering...

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Sevan serves ONGC arbitration notice

Sevan Marine has sent a Notice of Arbitration to ONGC concerning a firm order both parties signed in June 2008 for the charter hire of an ultra-deepwater drilling platform rig. The letter informs ONGC of Sevan’s intention to resolve certain disputes with ONGC...

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Cyclone brews off Australia's oil & gas, iron ore region

Tropical cyclone Vince is headed toward Australia's northwest coast, home to some of Australia's biggest oil and gas facilities and the region's largest iron ore export port, the weather bureau said on Wednesday. [Read more] Source: Reut...

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Carriers are shipbuilding renaissance

British shipbuilding is looking forward to a renaissance tonight after the Government placed a multi-billion-pound order for two new aircraft carriers which will bring a jobs bonanza to the beleaguered manufacturing sector. In a highly unusual arrangement, the project will be spilt between the two rival...

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Repsol Buys a share in Tyrona Block, Offshore Colombia

Repsol has signed an agreement with Colombian company Ecopetrol and Brazil’s Petrobras to buy a stake in the offshore Tayrona exploration block in the Colombian Caribbean Sea. Following the agreement, Repsol owns a 30% stake in the block, while Ecopetrol owns...

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Daewoo Shipbuilding Targets 18% Jump in Offshore Orders on Oil-Price Rise

Daewoo Shipbuilding & Marine Engineering Co., the world’s third-largest shipyard, expects orders for drilling vessels and offshore platforms to increase 18 percent this year, helped by higher fuel prices. Contracts for drill ships, semi-submersibles and offshore...

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Bharati Shipyard faces Rs.90 cr order cancellation

In October 2007, state-owned Shipping Corp. ordered four anchor handling, towing and supply vessels (AHTSVs), each with a pulling power of 80 tonnes, at Bharati Shipyard,India's second biggest shipbuilder outside state control. [Read More] Source: I...

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Russia to build new shipyards for Mistral construction

Russia will construct new shipyards near St. Petersburg designed specifically for the building of Mistral class amphibious assault ships under a French license, a defense industry source said Wednesday. Moscow announced in December last year that two Mistral class...

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Yangzijiang bags $536m worth of shipbuilding contracts from Sept 1 to Dec 31

Yangzijiang Shipbuilding (Holdings) says the group has entered into 15 shipbuilding contracts between Sept 1 and Dec 31 2010 with a total contract value of US$415.30 million ($536.4 million). The new contracts secured comprise three 47,500 dwt bulk carriers, four 49,500 dwt bulk carriers, two 7,600...

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Russia's USC shipbuilder, Italy's Saipem in joint venture talks

Russia's United Shipbuilding Corporation intends to create a joint venture with Italy's Saipem to design ships for offshore oil and gas production, Kommersant business daily said on Wednesday, quoting a source close to the corporation. The USC board is expected...

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OGX discovers more oil, natural gas with Waikiki well in the Campos Basin offshore Brazil

Brazilian independent OGX Petróleo e Gás Participações S.A. (OGX) announced Wednesday the presence of hydrocarbons in the Eocene section of well 1-OGX-25-RJS, which was previously identified as drilling the Waikiki prospect located on BM-C-39 Block in the shallow...

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Saudi Aramco's Vela Adds Double-Hulled Crude Tanker to its VLCC Fleet

Saudi Aramco, the world’s largest state-owned oil company, said a new very large crude carrier entered service with its tanker-operating subsidiary Vela International Marine Ltd. The Homam Star is Vela’s fourth double-hulled VLCC to be built by South Korea’s Daewoo Shipbuilding and Marine Engineering...

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China overtakes Korea as world's top shipbuilder in 2010

South Korea lost its status as the world's leading shipbuilding nation to China in 2010 for the second straight year as it lagged far behind the neighboring country in key indicators, data showed Wednesday. According to London-based market researcher Clarkson Research, South Korean shipbuilders won...

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DAEWOO SHIPBUILDING BUILDS WORLD'S LARGEST OFFSHORE FACILITY

Daewoo Shipbuilding & Marine Engineering Co. (KSE:042660), South Korea's No. 2 shipbuilder, said Wednesday it has completed construction of the world's largest offshore platform. The so-called floating production storage and offloading unit (FPSO) is designed...

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Vantage Drilling Company Announces Updates for Jackup Fleet

Vantage Drilling Company announced today that it has entered into a letter of intent for the Sapphire Driller, subject to final customer approval for a three well drilling program in West Africa, with an option for a fourth well. The anticipated duration of the...

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Dragon Oil plc Drilling Update: Dzheitune (Lam) B/150 well tested at initial combined rate of 1,622 bopd

Dragon Oil plc, an international oil and gas exploration and production company, announces the completion and initial testing of the Dzheitune (Lam) B/150 development well. The Dzheitune (Lam) B/150 was drilled to a depth of 3,980 metres and completed as a dual...

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Ithaca Energy Inc. Athena Field Development Operations & FPSO Modifications Progress as Planned

    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 the Sedco 704 drilling...

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Nido defers development of Yakal oil block

MANILA, Philippines - Australia-based Nido Petroleum Ltd. said on Wednesday it has deferred the development of the Yakal oil field to further study the said oil field. In a disclosure to the Australian Stock Exchange, Nido deputy managing director Joan Williams...

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Statoil considering a new LNG plant

The partners in the Snøhvit licence have decided to perform studies of possible concepts for building a new LNG plant at Melkøya in Hammerfest (Train II). The licence has conducted a feasibility study of processing capacity expansion of Hammerfest LNG plant, Melkøya...

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Tunisia: 7th November well tests gas-condensate

Sonde Resources Corp., Calgary, reported “robust test results” from an appraisal well on the Tunisian side of the 7th of November block in the Gulf of Gabes off Tunisia and Libya. Zarat North-1, in which Sonde owns 100% working interest alongside the Tunisian-Libyan...

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Polarcus Presents at SEB Enskilda Nordic Seminar in Copenhagen, Denmark

Polarcus Limited  announces that Chief Executive Officer, Rolf Ronningen, will present at the 13th SEB Enskilda Nordic Seminar in Copenhagen on Wednesday, 12 January 2011, at 11:50 a.m. CET (Central European Time). [Read more] Source: Offshore Energy Tod...

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