Mont Belvieu Natural Gas Plant Explosion Causes Massive Fire

A natural gas plant in Mont Belvieu, Texas, suffered from an explosion on Tuesday causing a massive fire. According to Reuters, the fire was so huge, it could be visible from over 30 miles away. The explosion at the plant, run by Enterprise Products, caused a...

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Transocean wary of rig race, restarting off Egypt

Transocean Ltd, the world's largest rig contractor, is concerned that a recent rig-building trend could get out of hand as companies opt to build them simply because others are doing so. Chief Executive Steven Newman said there was a risk of "me too" behavior with contractors all trying to upgrade the...

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Chesapeake Energy to offer $1 billion in notes

Chesapeake Energy Corp. said Tuesday it will launch a public offering of $1 billion in senior notes due 2021. Chesapeake intends to use the net proceeds from the offering to repay debt under its revolving bank credit facility. This offering is a part of a larger plan to reduce shorter-term debt. [Read...

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Russian shipbuilders, military in conflict over Mistral deal

Russia's United Shipbuilding Corporation (USC) has been taken out of the contractual talks with France on the purchase of Mistral class amphibious assault ships, a Russian business daily said Tuesday. [Read More] Source: def...

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ConocoPhilips sells out of Russia

US oil major ConocoPhilips has sold its remaining stake in Lukoil, Russia's largest privately-owned producer said Tuesday, bringing a formal to its seven-year involvement in Russia. Lukoil said on September 26 that it would exercise an option to buy back the remaining...

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Heavy lift companies boost Liberian-flag

The actions of a number of leading heavy lift shipping lines, including Beluga, BBC, NSC and Rickmers, in registering their ships under the Liberian flag has helped the West Africa state to double the size of its flagged fleet in the ten years since the management of the Liberian Registry was assumed...

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USA: Interior department to speed up offshore wind development

Yesterday saw the Secretary of Energy, Steven Chu and his opposite number at the Department of the Interior, Ken Salazar jointly announce a series of measures designed to accelerate the growth of the offshore wind industry in the US. Under the scheme, US$50.5m...

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Has economic gloom created a sea safety boom?

The Lloyd’s List Intelligence Casualty service shows that there was a large fall in shipping casualties last year, with overall global incidents down by 8% and worldwide ship sinking incidents falling by more than 30% as compared with 2009 figures. [Read More] Source: Motors...

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Gran Tierra's yr-end total proved oil reserves up 7 pct

Gran Tierra Energy Inc, a Canadian oil and gas exploration company, said year-end total proved oil reserves rose 7 percent to about 23.6 million barrels of oil. Gran Tierra, which has assets in Colombia, Argentina and Peru, said total proved plus probable oil reserves were up 11 percent to about 31...

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BG raises gas production targets amid reports of 'glut'

BG, the fast-growing oil and gas exploration company, dismissed predictions of a "global gas glut" as the group raised its production targets, sending shares to an all time high. Chief executive Frank Chapman said that the International Energy Agency was "on its...

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Canadian prairie farmers get into ship owning

Canadian prairie farmers will become owners of two ships that move their wheat on the Great Lakes, under an agreement reached today between the Canadian Wheat Board (CWB) and shipping companies Algoma Central Corporation and Upper Lakes Group Inc. [Read More] Source:...

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Iran ups oil output at Darkhovin field

Iran's oil minister says the oil output from a southern field is expected to reach 250,000 barrels per day when the third development phase is completed. Massoud Mirkazemi made the remarks during the opening ceremony of the second phase of the Darkhovin oilfield...

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Enel sees Sicily LNG terminal operating in 2015

Enel SpA expects its 8 billion cubic metre liquefied natural gas (LNG) import terminal in Sicily to be operational in 2015, Italy's biggest utility said on Tuesday. The terminal, which will be located at Sicily's Porto Empedocle, will cost the company around 850 million euros ($1.2 billion), Enel said...

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Norwegian Parliament ratifies Barents Sea deal

Norway’s Parliament has voted unanimously in favour of the bilateral Norwegian-Russian maritime line of delineation in the Barents Sea. Today’s referendum comes as a result of the compromise struck bietween Prime Minister Jens Stoltenberg and Russian President...

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BG Group CEO: Staff Returning To Egypt, Drilling Resuming

BG Group PLC staff evacuated from Egypt during the early days of the street protests there are gradually returning to the country and the company is beginning to resume exploration drilling operations there, Chief Executive Frank Chapman said Tuesday. [Read more] Source: Automated Tra...

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Auction of TNK-BP's gas field is delayed

An auction due to end TNK-BP's ownership of one of Russia's biggest gas fields has been postponed for another two weeks. TNK-BP, which is half owned by BP and four Russian billionaires, has wrangled for a decade over the Kovykta field. The field was scheduled...

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Five hostages starved to death by Somali pirates

The successful apprehension of Somali pirates off Lakshadweep by Indian Navy and Coast Guard on Sunday has brought along a tragic story of hostages. At least five crew members of the three Thai trawlers hijacked by pirates have been reported to have died of hunger...

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Pirates hijack Italian tanker 'Savina Caylyn', crew abducted

Using rocket launchers and submachine guns, suspected Somali pirates today abducted 17 Indian and five Italian sailors after hijacking a large Italian-flagged oil tanker in the Indian Ocean. [Read More] Source: Outlook In...

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India, Iran may consider trade deal for oil imports: Envoy

Iran and India could consider a bilateral trade arrangement if a new mechanism to pay for Iranian oil imports does not work and discussions may have begun, Iran's ambassador to India, Seyed Mahdi Nabizadeh, said on Tuesday. [Read more] Source: Money Cont...

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Ship carrying 226 passengers catches fire on way to Bangka

A ship carrying 226 passengers heading from Tanjung Priok, Jakarta to Bangka Belitung caught fire at 3.30 a.m. on Tuesday, Jakarta Police aquatic division chief Adj. Sr. Comr. Edion said Tuesday. [Read More] Source: The Jakarta P...

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Santos increases 2P reserves to 1,445 million barrels

Santos today announced that proved and probable (2P) hydrocarbon reserves increased to 1,445 million barrels of oil equivalent (mmboe) as at the end of 2010. This represents a 2P reserves replacement ratio of 110% and is the company’s seventh successive annual...

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Indian ports reach a milestone

India’s ports have expanded to reach an annual capacity of over 1 billion tonnes, but the Minister of Shipping has called for more. [Read More] Source: IFW N...

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Traffic up at Marseilles Fos last year, despite strikes

Marseilles Fos saw cargo volumes rise 3% last year, despite strikes repeatedly bringing handling to a halt. Volumes at the port hit 86 million tonnes in 2010, driven by increases in container and dry bulk volumes, and it pointed out that this growth was ahead...

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Nord Stream Project: World's Biggist Submarine Pipeline Plough Arrives in the Baltic Sea

Today, the world’s biggest submarine pipeline plough, PL3, arrived in the Baltic Sea on the deck of mother ship Far Samson. The subsea plough will be used to entrench the Nord Stream Pipeline in Swedish and Danish waters. [Read more] Source: Dredging To...

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Rough seas for Shipping Corp

The outlook for the shipping business continues to be weak, with freight rates in the dry bulk and tanker segment expected to be muted, as more supply of vessels hits the market. [Read More] Source: live m...

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Report raises short sea shipping concerns

The environmental group Friends of the Earth (FOE) last week released a report detailing the environmental challenges associated with short sea shipping. [Read More] Source: American Shipp...

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SOCAR launches new high debit well in Guneshli field

The State Oil Company of Azerbaijan has completed drilling new well No 57 on Guneshli offshore field. According to sources in the company, the well is 3,920 meters in depth. It is drilled from offshore stationary platform No 11. The daily well output is 150,000...

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Nexans wins subsea umbilical contract from Subsea 7 for North Sea Laggan-Tormore gas project

A total length of 143km of electro-hydraulic control umbilicals will be manufactured and supplied to Subsea 7 including a single length of 126 km, which will be one of the longest umbilicals in the world. [Read more] Source: Nex...

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Eni Australia Limited to Move Drillship Away Gawain-1 Well Ahead of Tropical Cyclone

Octanex N.L. has been advised by Eni Australia Limited (“Eni”) that at 07:00 hours WST (Western Standard Time) on Tuesday, 8 February 2011, the Saipem 10000 drillship had reached the Gawain-1 well location but is preparing to move away due to a worsening weather...

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ClassNK First 2011 Meeting of Technical Committee

The first meeting of the ClassNK Technical Committee was held at the Industry Club of Japan in Tokyo Feb. 8. The Technical Committee, which includes top technical experts from throughout the maritime industry as well as leading maritime universities, is charged with reviewing and approving all amendments...

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EnCore Oil: Catcher North Oil & Gas Discovery

EnCore Oil plc is pleased to announce that the Catcher North appraisal well 28/9-3 located in UK Central North Sea block 28/9 was drilled to a Total Depth of 5,265 feet Measured Depth (M.D.) having successfully encountered hydrocarbons in both the Tay and Cromarty...

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Global Ship Lease to Offer $500 Million in Stock

Global Ship Lease filed a shelf registration statement with the Securities and Exchange Commission for the sale of up to $500 million in shares of its stock. [Read More] Source: Journal of Comme...

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EU offers IMO helping hand on GHG emissions

The European Union has held out a conciliatory hand to the International Maritime Organisation (IMO) over the regulation of maritime greenhouse emissions. [Read More] Source: Carbon Posit...

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Minor oil find for Statoil close to Sleipner

Statoil Petroleum has proven further oil near to its Sleipner complex in the Norwegian North Sea. The Transocean Leader drilled well 15/6-12 in 115 m (377 ft) of water, 12 km (7.4 mi) north of Sleipner Vest. [Read more] Source: Penn Ene...

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Improved market conditions to help ship acquisitions

With shipping bearing little to no impact from the recent turmoil in Egypt and the Baltic Dry Index (BDI) finally picking up some steam on improved market conditions, shipbrokers are expecting more ship acquistion deals to come through. [Read More] Source: Hellenic Shipping N...

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JJ Sietas sees light in special vessels

JJ Sietas in Hamburg, Germany’s oldest existing shipyard, ended building boxships with the delivery of the 1,425-teu Elysee in October 2009. [Read More] Source: Asia...

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STX wins wind vessel

STX Offshore & Shipbuilding has won an order for a wind turbine installation vessel from London-based Gaoh Offshore. The UK firm has signed the letter of intent (LOI) with the Korean yard group. [Read More] Source: Asia...

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Gas leak briefly halts Petrobras offshore platform

Brazilian state-run oil company Petrobras said on Monday it briefly halted operations at an offshore platform on Sunday following a natural gas leak. The P-50 platform operating the Albacora Leste field in the Campos Basin suspended production for three hours...

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Hyundai dominates newbuild orders

Korea's Hyundai Heavy Industries is seen to be leading the newbuilding market as it has been carrying out vigorous new order activities since the beginning of the year. [Read More] Source: Asia...

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Penspen Appoints New Managing Director of Engineering and Project Management in Response to 400% Growth

The Penspen Group today announced that Ernie Lamza, its Director of Offshore, has been appointed as Managing Director of the Engineering and Project Management (E&PM) side of the business, a new role which has been created in response to the company’s 400% growth in the past five years, in particular...

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DMHI wins bulkers on its own

Rumania-based Daewoo Mangalia Heavy Industries (DMHI), an affiliate of Korea's Daewoo Shipbuilding & Marine Engineering (DSME), has won some new orders on its own for the first time in two years since the global financial crisis in 2008, showing a sign of...

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Jan De Nul pens newbuildings

Belgium's Jan De Nul Group has ordered two dredgers and a mining vessel at two European yards. It has penned two 14,000-cbm trailing suction hopper dredgers at Croatia’s Uljanik Brodogradiliste for delivery by mid and late 2012. [Read More] Source: Asia...

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New orders to drop by 25%

The overall new orders of the global shipbuilding industry for this year are expected to decrease compared with last year while Korea's large shipbuilders are likely to still continue a favorable tone in new orders. [Read More] Source: Asia...

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Saratoga Resources Energy Executive Roundtable Succesful

Saratoga Resources, Inc.  thanked to all those who participated in its successful Energy Executive Roundtable, held at the Windsor Court Hotel in New Orleans on February 2, 2011. [Read more] Source: Offshore Energy To...

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Bharati Shipyard's Q3 net profit down 30 pc, to Rs 23.16 cr

Bharati Shipyard today reported a decline of 29.66 per cent in its net profit for the third quarter (Q3) ended December 31, to Rs 23.16 crore due to rise in interest payments. The company had reported a net profit of Rs 32.93 crore during the corresponding quarter of 2009-10. Net sales of the company...

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Govt looking to spur growth of domestic shipbuilding industry

With a view to encourage the domestic ship-building industry, the government is chalking out plans to provide Indian shipyards an edge over their international counterparts while bidding for lucrative tenders floated by PSUs like Shipping Corporation of India. [Read More] Source: msn N...

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Gulf Marine Services wins Saudi contract

Gulf Marine Services Saudi Arabia (GMSSA), a leading provider of self-propelled jackup barges to the offshore energy sector, has won a contract from J Ray McDermott (JRM) to supply offshore accommodation support services. [Read more] Source: Trade Ara...

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Greatship India bets big on subsea support services

Offshore player Greatship India is betting big on the subsea support services to drive its next leg of growth. Foraying to become a service provider in the specialised sector of underwater support services for the oil and gas exploration and production market,...

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Chevron building South Louisiana warehouse for Gulf Work

Oil giant Chevron Corp. plans to build a 100,000 square foot warehouse in Gray, La., southwest of New Orleans, to handle logistics and maintenance for projects in the Gulf of Mexico. According to a report in the Houma Courier, San Ramon-based Chevron has already...

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Repsol Best European Energy Company For Leadership

Repsol has been chosen as Best European Energy Company for Leadership according to a study carried out by the International consulting firm Hay Group. This study, entitled Europe’s Best Companies for Leadership, evaluates the best companies on the continent in...

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