Samsung C&T wins S$200 mln order to build Singapore's 3rd LNG tank

South Korea's Samsung C&T Corporation has won a S$200 million contract to build a third storage tank at Singapore's upcoming liquefied natural gas (LNG) terminal, the company said on Friday. It won the contract from Singapore LNG Corporation (SLNG), and expects to complete the project by early 2014....

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S. Korean Navy frees hijacked cargo ship, kills Somali pirates

 South Korean naval special forces successfully rescued 21 seamen and their South Korean-operated cargo ship that was hijacked last week by Somali pirates in an operation that left eight Somali pirates dead, Seoul's military officials said Friday.    "Our special forces stormed the hijacked...

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South Korea rescues Samho Jewelry crew from pirates

South Korean navy commandos have stormed a ship which had been seized by pirates in the Arabian Sea. All the crew of the South Korean-owned Samho Jewelry were rescued, said Col Lee Bung-woo, a spokesman for the Joint Chiefs of Staff.Col Lee said eight pirates had been killed during the operation. South...

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RF hopes Belarus to follow gas contracts 2011, may offer support

Russia hopes the gas contracts with Belarus for 2011 will be observed, but it is prepared to offer state support, Russia’s Prime Minister Vladimir Putin said on Wednesday. “The Russian side has worded its position once again: the gas will be supplied under the...

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Mexican Oil Chief Expects 2011 Production Increase

Walking into Jose Suarez Coppel's office overlooking Mexico City, one sees all the trappings of an oil CEO: glass bottles filled with oil samples, financial screens flashing the price of oil, production charts for oil fields. And then there's the bright red phone...

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China North East Petroleum Holdings Ltd. Announces Purchase of Oil Field

China North East Petroleum Holdings Ltd(NEP). announced the purchase of an exploration and production company with the drilling rights on oil properties in Inner Mongolia. The deal is expected to close during the first quarter of 2011. China North East Petroleum...

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Samsung in talks for 4,600TEU's

Korea's Samsung Heavy Industries is progressing new order talks for four 4,600-teu boxships with Hanjin Shipping. [Read More] Source: Asia...

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Cameron Receives US$90 Million Order From Statoil

Cameron has received a contract valued at approximately $90 million from Statoil for the provision of high temperature, high pressure (HPHT) surface wellhead and Christmas trees for the Norwegian Gudrun platform with further options for the Valemon and Brynhild platform developments. The seven-year...

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Xun Energy to Participate in Oil and Natural Gas Drilling Program

Xun Energy, Inc. announces the Company will participate in a planned 15 well drilling program with Global Energy Acquisitions, LLC and its affiliates ("GEA"). GEA is a Florida limited liability company. GEA intends to drill 15 oil and gas wells on a 416 acre parcel...

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Minister to decide within weeks on final section of Corrib gas pipeline

Minister for Energy Eamon Ryan is expected to issue a decision in “the coming weeks” on Shell E&P Ireland’s application to construct the last section of the Corrib gas pipeline. But it could still be two years or more before the gas starts coming ashore. Mr...

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Gassco Says Kollsnes Gas Plant Starting, Will Export 98 MCM

Gassco AS, Norway’s natural-gas pipeline operator, said its preparing to start its Kollsnes gas processing plant after an unplanned halt earlier today. Kollsnes is estimated to export 98 million cubic meters of gas, Lisbet Kallevik, a Bygnes-based company spokeswoman,...

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Wind-farm mother ship concept launched

Anglo-Dutch naval architect company Offshore Ship Designers has launched a new offshore wind farm maintenance (WFM) vessel concept. It aims to improve the uptime of deepwater wind turbines and reduce maintenance costs and carbon emissions while offering a solution...

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Pertamina 2011 Profit May Rise on Higher Crude Price

PT Pertamina’s net income may gain 14 percent this year from a year earlier as higher crude price would boost revenue, said Djaelani Sutomo, marketing director at the Indonesia’s state oil and gas company. Profit may increase to 17.7 trillion rupiah ($1.9 billion)...

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Viking Moorings, Seaweld Engineering partnership provides mooring for Kosmos at Teak offshore Ghana

Viking Moorings continues the expansion of its global presence through an exclusive international agency agreement with Seaweld Engineering of Ghana. The partnership will see Viking Moorings have a strategic, operational presence along the entire coast of West...

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Oxy joins ADNOC in $10B development of Shah natural gas field in the UAE

Occidental Petroleum Corporation has been selected by the Government of Abu Dhabi to participate in the development of Abu Dhabi’s Shah gas field, one of the largest gas fields in the Middle East. Under the terms of the new agreement in principle, Oxy will hold...

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Shipowners Increase Payments to Get Their Vessels to Atlantic

Shipowners facing a lack of business in the Pacific Ocean covered more of their customers’ costs to get their vessels to the Atlantic. Costs on the C11 journey for shipments to Europe from Asia fell to minus $1,046 a day today from $958 on Jan. 14,  according to the Baltic Exchange in London. The...

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Commander regrets not freeing ship's crew

The navy's anti-piracy mission in the Gulf of Aden was only partly successful after it failed to rescue the Thai crew members of a ship held hostage by Somali pirates, says the commander of the counter-piracy task unit. [Read More] Source: Bangkok ...

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Wintershall wins ten new licenses in Norway

Company secures highest number of production licenses on the Norwegian Shelf after Statoil Stavanger/Kassel. Wintershall is continuing to steadily expand its activities in Norway: the subsidiary Wintershall Norge ASA has just been awarded ten new production licenses...

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Germany’s Asian Gate Threatened by River Elbe: Freight Markets

Germany’s largest container port may lose the world’s biggest freight ships to Belgium and Holland unless it can push through plans to deepen the River Elbe. Environmental groups and a neighboring state opposed to the 385 million-euro ($516 million) project have delayed it for three years, preventing...

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Bangladesh: Stop scrapping ships

The High Court yesterday issued a suo moto rule directing the government to stop all kinds of scrapping of ships in the country until further order. The HC order came against the backdrop of another explosion on a ship at a ship-breaking yard in Sitakunda that...

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Kosmos says corruption investigation into MODEC may increase costs at Ghana’s Jubilee field

Texas-based closely held oil company, Kosmos Energy says an investigation of MODEC, for alleged corruption could lead to extra cost at the Jubilee oil field. A report by the Dow Jones news service citing Kosmos Energy’s initial public offering (IPO) prospectus...

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Somali pirates seize Mongolian-flagged bulk carrier

Somali pirates have seized a Mongolian-flagged bulk carrier off the coast of Oman, the European Union Naval Force for Somalia (EU Navfor) said on Thursday. [Read More] Source: Reut...

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West Delta Deep Marine Phase 7 Enters Operations

BG Egypt today announced the start of incremental gas production on 19 January 2011 through the first part of Phase 7 of the West Delta Deep Marine (WDDM) Concession (BG Group 50%, PETRONAS 50%). This represents another successful milestone in the phased development...

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Somali pirates closer to India; premiums up

Somalian pirates appear to have expanded their reach to Indian maritime waters and insurers are responding by increasing premiums, resulting in higher costs for shipping firms. On 9 January, Somalian pirates hijacked Indian ship MSV Al Musa near New Mangalore...

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Fleet supply to overshadow dry bulk sector in 2011

An oversupply of ships will continue to weigh on overall prospects for the dry bulk industry in 2011 despite an expected pick-up in rates for smaller vessels later this year, ship industry officials said on Thursday. The dry freight market has been pressured by growing deliveries ordered before the...

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Feature: The dry bulk market and my part in its downfall

The dry bulk paper and physical market freight markets have been busy since the turn of the New Year. Not, sadly with fixtures, but with one bad news story after another concerning tonnage oversupply, doom-laden freight rate forecasts and the additional short term impact of the floods in Australia. [Read...

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BHP Billiton Approves Revised Costs For Kipper And Turrum Petroleum Projects

BHP Billiton today announced the approval of increased capital expenditure for the Esso Australia operated Kipper and Turrum projects in the Gippsland Basin, offshore Victoria. Kipper's capital expenditure has increased to US$900 million (BHP Billiton share) and...

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Dry-Bulk Shipping Falls to Two-Year Low on Lack of Coal Cargoes

The Baltic Dry Index, a measure of commodity-shipping costs, fell to the lowest level in almost two years after floods in Australia curbed coal shipments. The index fell 18 points, or 1.3 percent, to 1,393 points, according to data from the Baltic Exchange in London. [Read More] Source: Bloomb...

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Aker Drilling orders two ultra-deepwater drillships for $1.2B from Daewoo Shipbuilding in South Korea

Aker Drilling has signed a Letter of Intent (LOI) with Daewoo Shipbuilding & Marine Engineering Co. Ltd (DSME) for the delivery of two advanced ultra-deepwater drillships, and the option for delivery of two additional drillships. The price per drillship, including...

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Shipowners pondering on placing more new building orders or adopting “wait-and-see” approach

With the Dry Bulk Index (BDI) losing more than 20% of its value from the start of 2011, it only seems reasonable, that the once bullish stance that many ship owners had for the dry bulk market’s prospects at least from 2012 onwards, seems to be losing faithful supporters. The industry’s benchmark closed...

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French DCNS unveils concept for submerged nuclear power plant

France's naval construction firm DCNS has agreed with Areva, EDF and the CEA R&D organization on a joint study of DCNS' concept for a submerged nuclear power plant unit that its promoters say could provide energy for millions of people in coastal locations...

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Atwood Oceanics Announces Exercise of Option to Construct Additional Jack-Up Drilling Unit

ATWOOD OCEANICS, INC., a Houston-based international drilling contractor, announced today that on January 14, 2011, Atwood Oceanics Pacific Limited ("AOPL"), a wholly-owned subsidiary of Atwood Oceanics, Inc. (the "Company"), exercised the first of three options...

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Big wind turbine order is a breeze for the shipyard

BELFAST's Harland and Wolff shipyard has started work on a multi- million pound project assembling 30 massive wind turbines that will operate off the English coast. [Read More] Source: istockAnalyst....

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Croatia Rejects Crown Investment Offer to Buy Shipyard

The Croatian government rejected an offer by Crown Investment of Germany, representing Austria’s A- Tec, to buy a shipyard in Rijeka on the Adriatic Sea coast, Croatian Economy Minister Djuro Popijac said today in Zagreb. [Read More] Source: Bloomb...

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Kleven to build MT 6009 L for Olympic

Olympic Shipping has entered into a contract with Myklebust Verft, part of the Kleven Maritime group, for the delivery of a MT 6009 L offshore support vessel. The vessel is to be built at the yard Myklebust Verft in Gursken, Norway, with delivery set for September...

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Four STX Ships Named Best of 2010

STX Offshore and Shipbuilding announced on Wednesday three vessels and a drillship it built last year were named the best ships of 2010 by U.K. magazine Naval Architect and U.S. monthly Marine Log. [Read More] Source: Chosuni...

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Shipping Haisheng orders 76000 tonnes crude oil carrier

It is reported that China Shipping Haisheng wholly controlled subsidiary, Shenzhen Sanding Oil Trading ordered a 76,000-ton crude oil carrier for CNY 384 million. [Read More] Source: Steel G...

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Japex, M'bishi Kick Off Oil Output In Indonesia

An Indonesian energy company backed by Japan Petroleum Exploration Co. (1662) and Mitsubishi Corp. (8058) has begun churning out crude oil at a field off East Java. Output has started at 6,000 barrels a day at the Pagerungan Utara oil field, which is located in...

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China overtakes S Korea as world''s largest shipbuilder: Report

BEIJING: China has surpassed South Korea to become the world''s largest shipbuilder in 2010 in terms of shipbuilding capacity and new orders, media reports here have said. [Read More] Source: The Economic Ti...

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Det norske reasonably pleased with awarded licenses

The results for the awards in predefined areas (APA) 2010 are now published by the government. 50 production licenses are offered to 39 companies. 22 companies are offered operatorships. In all, 41 companies applyed for production licenses on the Norwegian Continental...

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Tap increases its interest in WA-351-P

Tap Oil Limited has exercised its pre-emptive right to acquire an additional 20% interest in the highly prospective WA-351-P exploration permit in Western Australia’s Carnarvon Basin. This unique opportunity for Tap to increase its interest in this strategic permit...

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Songa Mercur BOP problems cut China drilling campaign short

The Songa Mercur semisubmersible drilling rig is currently off-hire in China resulting from structural failure of the telescopic joint, causing an uncontrolled descent of the BOP and Marine riser a short distance to sea bed on January 16, 2011. The Songa Mercur...

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Statoil taps FMC for Gygrid subsea production equipment

FMC Technologies, Inc. has signed a contract with Statoil  for the manufacture and supply of subsea production equipment to support the Gygrid offshore development. The award has a value of approximately $54 million in revenue to FMC Technologies.  Gygrid...

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Roc Oil announces sale of WA-351-P, Carnarvon Basin, Australia

Roc Oil (WA) Pty Limited, a wholly owned subsidiary of ROC, announced on 20 December 2010 that it had agreed to sell its 20% interest in WA-351-P, offshore Carnarvon Basin, Western Australia, to Woodside Energy Ltd for US$15.75 million subject to working capital...

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Kongsberg Maritime and Vestfold University College sign R&D agreement

Kongsberg Maritime's simulation division and Vestfold University College have signed a framework agreement to explore activities and projects of joint interest in the area of research and development of maritime simulators from an innovation and human factor perspective. [Read...

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SOCAR prepares for drilling new exploration well at Umid offshore field

The State Oil Company of Azerbaijan is working to drill new exploration well at the Umid offshore field.According to a statement in the company, the projected depth of the new well will make up 6,500 meters. The drilling is to complete in late 2011-early 2012.[Read...

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Panel hears from public on offshore energy options

A panel exploring North Carolina's energy options asked for the community to voice its concerns about drilling for oil or natural gas off of the coast on Wednesday night. The Scientific Advisory Panel on Offshore Energy is tasked with reporting back to Governor...

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Cyprus: Deep Sea Supply Takes Delivery of Newbuilding AHTS

Deep Sea Supply recently informed that it has taken delivery of “Sea Fox”, a newbuilding AHTS from ABG Shipyard, India. “Sea Fox” is the 5th delivery in a series of 9 newbuilding AHTS vessels from ABG. The Deep Sea Supply fleet now consists of 16 AHTS and 8 PSVs,...

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Buccaneer Energy Limited Positive AIDEA Due Diligence And Jack-Up Rig Update

Buccaneer Energy Limited is pleased to update on the progress of the acquisition of a jack-up rig for operations in the Cook Inlet, Alaska. Buccaneer is in the process of negotiating and financing the acquisition of a jack-up rig that will have the capacity to...

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Dragon Oil output higher in December, reserves rise

Dragon Oil said oil production from its fields in Turkmenistan ramped up in December on the completion of new facilities as it lifted its oil reserves by 3.6 percent. The company, which in October cut its production growth guidance, said on Thursday that average...

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Suncor executive Neil Camarta to retire

Suncor Energy Inc. has restructured itself, and announced Wednesday that Neil Camarta, a former Petro-Canada executive who came to Suncor when it absorbed the former Crown corporation, will retire Jan. 31.  [Read more] Source: Financial P...

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AWE’s announces Otway Basin reserves update

Santos, as operator of the offshore Otway Basin producing fields Casino, Netherby and Henry), in which AWE has a 25% equity, has completed a reassessment of reserves in those fields.  As a result the initial proven plus probable (2P) recoverable reserves...

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