AUSTEX OIL LIMITED DRILLING COMMENCES ON PRATT NO.1 WELL OF COOPER PROJECT IN KANSAS

AusTex Oil Limited is pleased to announce that Castle Resources Inc., as operator, advises that drilling operations on the Pratt #1 well commenced on Sunday 23 January (Kansas Time). Surface casing has been set to 216 feet and the rig is drilling ahead at 2,400...

Posted on 1/24/2011 / 0 comments / Read More

WestSide Corporation Limited Updates On Expansion Exploration Drilling Of Meridian Reserves in The Bowen Basin

As Operator of the Meridian SeamGas CSG gas fields, WestSide Corporation Ltd is pleased to advise that drilling of the MER08V pilot production well in PL 94 near Moura in the Bowen Basin has commenced. The MER08V well is the fourth in a an exploration program...

Posted on 1/24/2011 / 0 comments / Read More

Somali pirates threaten to kill Korean hostages

Somali pirates threatened on Sunday to kill any South Korean seamen they take hostage in future in revenge for the killing of eight pirates by South Korean troops who stormed a hijacked vessel. [Read More] Source: Reut...

Posted on 1/24/2011 / 0 comments / Read More

Bangladesh: 5.0pc cash incentive to shipbuilding industry likely

The government is likely to offer five per cent cash incentives to the Bangladesh's booming shipbuilding industry on their export earnings to encourage the newly emerged foreign exchange earning sector, officials said. [Read More] Source: The Financial Expr...

Posted on 1/24/2011 / 0 comments / Read More

FMC Technologies Awarded $85 Million Order for CNOOC's Liuhua 4-1 Development

FMC Technologies, Inc. announced today that it has signed an agreement with China National Offshore Oil Corporation (CNOOC) for the manufacture and supply of subsea production equipment for the Liuhua 4-1 development project. The award has a value of approximately...

Posted on 1/24/2011 / 0 comments / Read More

Reliance Is Eighth-Largest Hirer of Aframax Ships for Fuels, Poten Says

Reliance Industries Ltd., owner of the world’s largest oil refining complex, was the eighth-biggest charterer of Aframax vessels used to transport petroleum products last year, according to a ship broker. [Read More] Source: Bloomb...

Posted on 1/24/2011 / 0 comments / Read More

SAL launches world's largest heavy lift ship, opens Singapore office

Germany-based Schiffahrtskontor Altes Land (SAL) has into service the world's largest heavy lift vessel and opened a new office in Singapore. Svenja, which boosts lifting capacity of 2,000 tonnes and speed of 20 knots, was built in six months at Siestas shipyard...

Posted on 1/24/2011 / 0 comments / Read More

Transocean Ltd. Files Appeal With Swiss Supreme Court

Transocean Ltd. today announced it has filed an appeal with the Swiss Federal Supreme Court against a December 2010 decision of the Administrative Court of the Canton of Zug. The Administrative Court last December rejected Transocean's appeal of the decree of...

Posted on 1/24/2011 / 0 comments / Read More

Bunker smuggling attempt caught in Manila

The Bureau of Customs (BOC) seized on Monday two cargo ships caught allegedly smuggling bunker oil worth P60 million at North Harbor, Manila. [Read More] Source: Seatrade A...

Posted on 1/24/2011 / 0 comments / Read More

FX Energy's Lisewo Well Shows Gas

FX Energy reported excellent gas shows during coring of the top level of Rotliegend sandstones in the Company's Lisewo well. The gas shows were observed on the mudlogging unit during coring of the interval from 3810 to 3846 meters. The remaining schedule is to...

Posted on 1/24/2011 / 0 comments / Read More

Laredo Petroleum Announces Sale of $350 Million of Senior Note

Laredo Petroleum, Inc. announced today the sale of $350 million of senior unsecured notes to eligible purchasers in the private placement market. The notes, which carry a coupon rate of 9.5%, will mature on February 15, 2019, with interest payable on a semi-annual basis.  Bank of America Merrill...

Posted on 1/24/2011 / 0 comments / Read More

Dutch launch Belgian dredger

The launch ceremony for the 30,000m3 trailing suction hopper dredger ‘Congo River’ took place recently at the IHC Merwede shipyard in Krimpen aan den IJssel, The Netherlands. [Read More] Source: The Motors...

Posted on 1/24/2011 / 0 comments / Read More

US Interior accepting nominations for offshore safety advisory group

The US Department of the Interior on Monday said it is accepting nominations for a 13-person committee that will advise the agency on offshore drilling technology, oil spill containment and cleanup, and other issues. The Ocean Energy Safety Advisory Committee...

Posted on 1/24/2011 / 0 comments / Read More

Somali Pirates Hijack MV Beluga Nomination

The Somali pirates have hijacked the MV Beluga Nomination ship (the flag of Antigua and Barbuda, operator Beluga Fleet Management GmbH based in Germany) with Ukrainians on board near the Seychelles. [Read More] Source: Ukrainian News Age...

Posted on 1/24/2011 / 1 comments / Read More

DNO says no exports until Iraqi deal clarified

Norwegian oil company DNO said on Monday it will not start exports from its Kurdish Tawke field until the regional and central government provide details about their agreement to resume exports by February. [Read more] Source: Reut...

Posted on 1/24/2011 / 0 comments / Read More

Shippers Examine Advantages of Fuel Change

The push for shipping companies to reduce emissions and improve the energy efficiency of their fleets is coming in part from stricter environmental regulations, at both the national and international levels. [Read More] Source: New York Ti...

Posted on 1/24/2011 / 0 comments / Read More

Fairstar Heavy Transport awarded new contract for the FJORD

Fairstar Heavy Transport NV (FAIR) has been awarded a contract by Grinaker - LTA Construction Nigeria Ltd., Nigeria, a member of the Worley Parsons Group. The Fairstar semi-submersible vessel FJORD departed from its home port in Rotterdam on January 21 and is...

Posted on 1/24/2011 / 0 comments / Read More

Shippers question carriers’ ‘silly’ demands to meet new EU security regulations

How smoothly is the introduction going of the European Union’s requirement for an Entry Summary Declaration?  It’s early days yet in the operation of the EU’s new requirement  for submitting data about the freight being imported into the EU (or moving via the EU) prior to loading for export....

Posted on 1/24/2011 / 0 comments / Read More

ONGC works to repair offshore pipeline leak

Oil & Natural Gas Corp. said it expected short-term repairs to be completed in a week on an offshore pipeline leak that briefly cut production from the Mumbai High area 80 km off Mumbai. ONGC detected the leak on its Mumbai Uran Trunk oil pipeline about 2 km from the BPB platform on Bassein oil...

Posted on 1/24/2011 / 0 comments / Read More

Charter Rates Rise on Strong Cargo Demand

Container ship charter rates are edging higher as ocean carriers compete for a limited volume of available tonnage to keep pace with strong cargo demand on key trade routes. Carriers are boosting their overall capacity with charter ships even as spot freight rates...

Posted on 1/24/2011 / 0 comments / Read More

BG Group to invest $10bn in Brazilian deepwater oil fields

BG Group is to invest $10bn (£6.26bn) in Brazil over the next decade as it seeks to accelerate the development of the country’s deepwater oil fields. The company is aiming for an output of 400,000 barrels of oil a day by 2020, which would make it Brazil’s second...

Posted on 1/24/2011 / 0 comments / Read More

‘Vessel supply will outpace cargo demand through 2011’

Ocean container carriers face overcapacity for at least another 12 months as the supply of new ships outpaces slowing cargo demand, an industry analyst forecast. The global container ship fleet will expand by an average annual rate of 8.7% over the next two years, with 1.2 million 20-foot equivalent...

Posted on 1/24/2011 / 0 comments / Read More

OGX hits hydrocarbons with Illimani prospect in Brazil's Campos Basin

OGX Petróleo e Gás Participações S.A. (OGX) has discovered hydrocarbons in the Albian section of well 1-OGX-28D-RJS, which is located in the BM-C-41 block, in the shallow waters of the Campos Basin. OGX holds a 100% working interest in this block.  “This...

Posted on 1/24/2011 / 0 comments / Read More

Baltic index down, but steel demand may lift rates

The Baltic Exchange's main sea freight index fell to its lowest level since early 2009 on Monday as the market struggled with oversupply, but record steel production is lifting the outlook, traders said. The Baltic Dry Index (BDI), which gauges...

Posted on 1/24/2011 / 0 comments / Read More

Norway: Det norske CFO Wins NPF Award

Erik Haugane, CFO og Det norske, has been awarded one of the oil industry’s highest awards, the NPF award. The award is a recognition of the effort made, and a stimulus for further work. The jury’s arguments for giving Haugane the price is that he is "one of few...

Posted on 1/24/2011 / 0 comments / Read More

Costamare Inc. Announces Completion of Financing for Three Newbuild Containership Vessels

Costamare Inc., one of the world's leading owners and providers of containerships for charter, announced yesterday that it has finalized the financing arrangements for the three newbuilding contracts which were identified in its initial public offering ("IPO") prospectus in November 2010. The containerships,...

Posted on 1/24/2011 / 0 comments / Read More

McDermott wins subsea engineering, installation contract with Petrobras offshore Brazil

McDermott International, Inc., announced today that its subsea construction vessel "Agile" has been contracted by Petrobras to install subsea flexible pipelines and umbilicals in up to 2,000 meters of water offshore Brazil. The company will also provide subsea installation engineering for the duration...

Posted on 1/24/2011 / 0 comments / Read More

Newbuilding orders waning as ship owners wonder about shipping’s prospects

With the beginning of 2011 proving to be rather challenging for ship owners in the dry bulk industry, it seems only reasonable that most ship owners have scaled back their investment programme, delaying or postponing deals, in order to evaluate the current state of the market. [Read More] Source: Hellenic...

Posted on 1/24/2011 / 0 comments / Read More

Halliburton doubles profits

President Dick Cheney, doubled its profits in the last quarter of 2010, even as the US government tarred it with "systemic failures" in the BP Deepwater Horizon drilling disaster.Higher crude prices and demand for drilling equipment boosted net income to $605m...

Posted on 1/24/2011 / 0 comments / Read More

Samsung eyes Offshore & Green

With the beginning of the new year proving to be rather challenging in the dry bulk industry, most shipowners have scaled back their investment program in order to evaluate the current state of the market. Korea's Samsung Heavy Industries will intensively engage in the offshore plant market this year. That...

Posted on 1/24/2011 / 0 comments / Read More

Award for $160 million Montara Development Project to SapuraAcergy joint venture

Subsea 7 S.A. confirmed today the award of a contract valued at approximately $160 million to SapuraAcergy Sdn Bhd from PTTEP Australasia (Ashmore Cartier) Pty Ltd ("PTTEPAA") for the development of the Montara Development Project located in the southern Timor...

Posted on 1/24/2011 / 0 comments / Read More

Petrobras may lower local supply purchases

Brazilian state-controlled oil company Petrobras  wants to buy less equipment from local companies because prices are not competitive, newspaper Folha de S.Paulo said on Monday, without saying how it got the information. Petrobras wants to slash the share...

Posted on 1/24/2011 / 0 comments / Read More

Sinopacific Shipbuilding Group secures first order in 2011

Sinopacific Shipbuilding Group has managed to win its first order of 2011 from new Turkish client DENSAN SHIPPING. The order is for two 58,000 DWT Crown 58 bulk carriers, which are scheduled to be delivered by the end of 2012. On Jan 24th, 2011, Mr. Simon Liang,...

Posted on 1/24/2011 / 0 comments / Read More

Cameron to supply subsea production equipment for deepwater development in the South China Sea

Cameron has received an order for the supply of subsea production systems for a deepwater and offshore gas processing and pipeline project in the South China Sea.  The project will include subsea equipment, as well as an agreement to provide additional services...

Posted on 1/24/2011 / 0 comments / Read More

Louis Dreyfus orders Tianjin capes

North China's Tianjin Xingang Shipbuilding Heavy Industry has completed a deal with France's Louis Dreyfus Armateurs (LDA) to build four 180,000 dwt capesize bulkers. The ships are thought to cost $52m each with delivery from 2012 to mid-2013. LDA is aiming to boost its owned fleet while newbuild prices...

Posted on 1/24/2011 / 0 comments / Read More

Gazprom and SOCAR agree not to limit Azeri gas purchases in long-term prospect

Chairman of board of Gazprom OJSC Alexei Miller and president of the State Oil Company of Azerbaijan (SOCAR) Rovnag Abdullayev have reached a series of principal arrangements on volumes of Azeri gas supplies to Russia. Gazprom reports that at their meeting it...

Posted on 1/24/2011 / 0 comments / Read More

Incat Crowther reports successes in China

Chinese shipbuilder Afai Ships, which builds aluminum vessels up to 120 m at its shipyard in Panzu, has recently awarded two design contracts to Australia's Incat Crowther. One covers two 35 m catamaran ferries for Zhuhai High Speed Ferry Co. The other covers...

Posted on 1/24/2011 / 0 comments / Read More

PaxOcean orders two Rolls-Royce designed offshore vessels

Rolls-Royce, the global power systems company, today announced an order from Singapore-based offshore company, PaxOcean, to provide the ship design, propulsion systems and deck machinery for two platform supply vessels. The order is worth over £12 million to Rolls-Royce...

Posted on 1/24/2011 / 0 comments / Read More

Dry dock collapses causing $5,000 of damage

The dry dock at the Grand Bahama Shipyard collapsed early Saturday morning, resulting in the loss of equipment estimated at some $5,000. The Tribune received reports that sometime around 5am, Dry Dock One had sunk into the water, however, a shipyard official said it did not sink. [Read More] Source:...

Posted on 1/24/2011 / 0 comments / Read More

Catcher North appraisal well spudded, says Encore

EnCore Oil plc  announces that the Catcher North appraisal well 28/9-3 in Central North Sea Block 28/9 was spudded at 08.00 hours on Monday 24 January 2011.The EnCore operated well is being drilled using the Transocean Galaxy II heavy duty jack-up rig and...

Posted on 1/24/2011 / 0 comments / Read More

Aries Marine fleet now totals 30 vessels

Lafayette, La., based Aries Marine Corporation is set to celebrate its 30th anniversary on February 11 with the addition of two new platform supply vessels from Eastern Shipbuilding. Both are 292 ft  Tiger Shark Class vessels of STX US Marine Design. [Read...

Posted on 1/24/2011 / 0 comments / Read More

BP, Total among winners of Angola deepwater blocks

BP, Total, Eni and other international majors were awarded concessions to explore in Angola's ultra-deep water blocks known as pre-salt blocks, Angola's state-owned oil firm Sonangol said on Monday.Other successful bidders included ConocoPhillips, Statoil, Repsol...

Posted on 1/24/2011 / 0 comments / Read More

Germans reveal more newbuild orders

Two of Germany’s most prominent shipyard groups - P&S Yards and Meyer Werft - have announced new orders for ship types seen as crucial for the future survival of specialist European shipbuilding, writes Tom Todd. [Read More] Source: Motors...

Posted on 1/24/2011 / 0 comments / Read More

Keppel to build two jackups for Clearwater

Keppel FELS Ltd. reports new orders from Clearwater Capital Partners to build two KFELS B jackup rigs for $360 million. The high-specification rigs are to be delivered 1Q 2013 and 2Q 2013. Clearwater also has options to build two more similar jackup units with...

Posted on 1/24/2011 / 0 comments / Read More

Atwood Oceanics Announces Names for New Jack-Up Drilling Units

Atwood Oceanics., a Houston-based international drilling contractor , today announced names for its three high-specification Pacific Class 400 jack-up rigs being constructed at PPL Shipyard PTE LTD in Singapore. The Atwood Mako, Atwood Manta and Atwood Orca are...

Posted on 1/24/2011 / 0 comments / Read More

Aker Drilling Contemplating new bond issue

Aker Drilling ASA is contemplating the issue of up to NOK 1,500 million in a new senior, unsecured bond in the Norwegian bond market with maturity in February 2016. The proceeds will be used to refinance the outstanding bond issue AKD02 with ISIN NO001057171.4,...

Posted on 1/24/2011 / 0 comments / Read More

Reliance May Need More Oil Assets to Boost Stock Trailing Valero, Sinopec

Reliance Industries Ltd., India’s biggest company by market value, must increase its oil and gas reserves to help boost shares that have lagged behind their global peers and benchmark indexes, investors said. The Mumbai-based energy explorer and oil refiner has...

Posted on 1/24/2011 / 0 comments / Read More

Expro introduces new reliable power relief valve system

Leading international oilfield services company Expro announces today the introduction of a new Power Relief Valve (PRV) system which reduces the man hours and rig down-time historically associated with operating and maintaining traditional mud pump relief valves...

Posted on 1/24/2011 / 0 comments / Read More

GAC and TransAtlantic sign agency agreement to support Arctic exploration

GAC Norway has welcomed the TransAtlantic ice-breaking Anchor Handling Tug Supply (AHTS) 'Tor Viking II' to Hammerfest after its transit of the ice-bound North East Passage, under a new agency agreement that brings together two companies with plans for Arctic...

Posted on 1/24/2011 / 0 comments / Read More

Australia: Nexus in Talks for FPSO Provision

Nexus Energy Limited (“Nexus”) refers to the article published today in The Australian Financial Review newspaper regarding speculation on the Crux liquids project. Nexus advises that it is in discussions with a contractor for the provision of an FPSO as well...

Posted on 1/24/2011 / 0 comments / Read More

Chevron and Kyushu Electric Sign LNG Deal

Chevron Corporation today announced that its Australian subsidiary has signed a Sales and Purchase Agreement (SPA)with Kyushu Electric Power Co. for a portion of Chevron's offtake of liquefied natural gas (LNG) from the Gorgon Project. Under the binding agreement,...

Posted on 1/24/2011 / 0 comments / Read More

Northern Offshore Appoints New Senior Vice President

Northern Offshore, Ltd. announced today that Mr. Gary L. Bauer has joined the company as Senior Vice President, Operations.  Gary W. Casswell, Northern Offshore’s president and CEO, said “Gary is a welcome addition to Northern Offshore, and we are very pleased...

Posted on 1/24/2011 / 0 comments / Read More

MesoCoat Inks Cooperation Agreement with Petrobras

Abakan Inc. announced that MesoCoat, Inc., a portfolio company, has signed a Cooperation Agreement with Petroleo Brasileiro S.A. (Petrobras), to develop and qualify MesoCoat's CermaClad process for the application of CRA (corrosion resistant alloys) to the internal...

Posted on 1/24/2011 / 0 comments / Read More