China's Green Dragon to spin off Greka Drilling

Green Dragon Gas said it would spin off Greka Drilling, the holding company of its Chinese drilling business, and unveiled plans to list on the main board of the Hong Kong stock exchange later this year. The company on Wednesday said trading in the drilling unit,...

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Ascent Resources finds gas in Slovenian field

UK oil and gas explorer Ascent Resources has discovered natural gas at the Petisovci field in Slovenia. The company has completed the first phase of operations on the Pg-11 well in the Petisovci project and encountered gas in all of the six Middle Miocene Badenian...

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Cold weather cools Devon Energy production

Devon Energy Corp. said oil and gas production was lower than expected in the fourth quarter and cold weather has hurt output in the current quarter. [Read more] Source: The Globe and M...

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Alberta gives boost to plan for new upgrader

The Alberta government is directing a chunk of the province’s oil sands production to a proposed $5-billion upgrader, giving the long-awaited project the capacity necessary to ignite construction plans. [Read more] Source: The Globe and M...

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India's Petronet looks to Australia, Qatar for LNG-CEO

India's Petronet LNG is looking to buy liquefied natural gas (LNG) from Australia and Qatar for a new terminal, its head said on Wednesday, adding it would cost $70 million to double target capacity of the site. Petronet, which already operates a 10-million-tonne-a-year...

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Ecuadorean Groups Appeal to Increase $8.6 Billion Chevron Fine

Ecuadorian plaintiffs who won a US$8.6 billion dollar judgment against oil giant Chevron earlier this week for pollution of their Amazon homeland plan to appeal the ruling. They say the amount awarded is too low to compensate for the damages they suffered from...

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General Electric to minimize gas flaring at world's largest LNG complex in Qatar

In the first large-scale application of its type, GE Oil & Gas advanced compressor technology is minimizing liquefied natural gas (LNG) boil-off gas flaring at LNG berths at the Ras Laffan Port, Ras Laffan Industrial City in Qatar, by making productive use...

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China's CNOOC wins Australia nod to invest in shale gas acreage

State-owned China National Offshore Oil Corp has won approval from Australia's Treasurer to invest in a coal seam gas and shale gas exploration prospect in Queensland, its partner Exoma Energy said on Thursday. [Read more] Source: Reut...

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Transocean orders two jack-up rigs at Keppel FELS

Transocean Ltd. reports that a subsidiary has been awarded five-year drilling contracts for two newbuild high-specification jack-up rigs for operations in Thailand for a subsidiary of Chevron Corporation.[Read more]Source: Marine...

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Extrem Energy Announces Aegean Sea Farm-In Opportunity

Extrem Energy Inc., a Turkish exploration and production joint venture, is inviting companies to join them to explore their high potential asset in Aegean Sea.  The Candarli block, license AR/EXT/4219, is located in the prolific Western Anatolian Region, off the western coast of Turkey in water...

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Trend: Small scale LNG sees bright future ahead

Small scale LNG has been experiencing considerable growth in the past years and will be gaining even more popularity and importance in the upcoming years. Many organizations are now investigating the business case and are considering investing in the new technology.  [Read...

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Ipic offers €4bn for rest of Spanish refiner Cepsa

Abu Dhabi is showing a renewed appetite for European oil refining assets as international companies seeks to shed them.The International Petroleum Investment Company (Ipic), owned by the Abu Dhabi Government, yesterday said it would offer about €4 billion (Dh19.9bn)...

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Shell Predicts Energy Use Will Triple by 2050 Because of China, India

The Shell global energy report, called Signals and Signposts, said emerging nations like China and India are going through materially intensive development and a tighter market will continue to put pressure on prices and generate volatility. Shell also says there...

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Gazprom Agrees to Join Eni’s Oil Project in Libya

OAO Gazprom Neft, the oil arm of Russia’s natural-gas exporter, OAO Gazprom, today signed an agreement to take a stake in Eni SpA’s Elephant oil project in Libya. Gazprom Chief Executive Officer Alexei Miller signed the agreement in Rome following talks between...

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Nigeria: Oyo Well - Camac Completes Intervention Operation

CAMAC Energy has announced the successful completion of well intervention operation on its Oyo 5 oil well, located in the Oyo Field offshore Nigeria . The operation commenced in December 2010 to reduce the gas production from the well. [Read more] Source: All...

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Total Joins BP, Exxon in Rush for Offshore Oil Riches

Total is in talks with Rosneft about joint development of fields in the Barents Sea inside the Arctic Circle and in the Black Sea, Pierre Nerguararian, head of the Paris-based company's Russian office, told reporters Wednesday. Total, Europe's third-largest oil producer, is joining bigger rivals ExxonMobil...

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Mitsubishi gets Ramform orders

Norwegian-based Petroleum Geo-Services ASA (PGS) has signed a ‘letter of award’ with Mitsubishi Heavy Industries for the delivery of two Ramform W-class vessels, with the option for another two ships. The 104.2m long, 70m wide vessels are the first in the new,...

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SEADRILL: Private placement in North Atlantic Drilling Ltd completed

North Atlantic Drilling Ltd. has completed the first tranche and closed the order book in the private placement of 250,000,000 new ordinary shares of US$1.00 par value at a subscription price of US$1.70, raising US$425,000,000 in gross proceeds to the Company...

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Seaspan waiting to order 10,000TEU's

Seaspan is close to placing an order for a series of 10,000 teu boxships. But prices would have to fall by another 5% or so first before the shipowner is ready to go ahead, said chief executive Gerry Wang. [Read More] Source: Asia...

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Statoil completes investigation into natural gas leak at Gullfaks B in the Norwegian North Sea

Statoil’s  internal investigation into the gas leakage on the Gullfaks B platform in the North Sea on December 4, 2010, has been concluded and the report presented to the Petroleum Safety Authority Norway.  [Read more] Source: Penn Ene...

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Reseach vessel order to Rauma shipyard

STX Finland Oy and Ministry of Fisheries and Marine Resources of the Republic of Namibia recently signed a contract for the construction of a fisheries research vessel at a cost of approximately EUR 35 million. [Read More] Source: motors...

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Rolls-Royce wins US $32m contract for Chinese seismic research vessel

Rolls-Royce has won a £20 million (US $32 million) order from Chinese conglomerate Sinopec to design and equip a specialist seismic research vessel.  When operational it will carry out detailed surveys of the seabed to identify oil and gas reserves.  The...

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Cyprus: Gas drilling could start by end of the year

EXPLORATORY drilling to determine whether there are hydrocarbon reserves in Cyprus’ territorial waters could start by the end of this year, officials said yesterday. Trade and Industry Minister Antonis Paschalides said the plan was to drill by the end of the year or early in 2012. [Read more] Source:...

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Det norske oljeselskap ASA Q4: Good progress on development projects

Det norske oljeselskap ASA is working actively on three potential development projects. In the fourth quarter, Det norske recorded high operating revenues.  In 2010, Det norske oljeselskap ASA confirmed its position as one of the most active exploration companies...

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Somali Pirate Sentenced to Nearly 34 Years

A Somali man who pleaded guilty to hijacking an American-flagged cargo ship off the coast of Africa in 2009 was sentenced on Wednesday in Federal District Court in Manhattan to 33 years and 9 months in prison. [Read More] Source: The New York Ti...

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PGS orders seismic ships from Mitsubishi Heavy

Norwegian seismic surveyor Petroleum Geo-Services (PGS.OL) has ordered two Ramform W-class vessels from Mitsubishi Heavy Industries (7011.T) at a cost of $250 million apiece with an option for two additional ships. [Read More] Source: Reut...

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Origin Energy announces conditional divestment of interest in Production Sharing Contract, Block L8, Lamu Basin, Kenya

Origin Energy Limited, on behalf of its wholly owned subsidiary Origin Energy Kenya Pty Ltd advises that it has reached agreement with a subsidiary of US independent Apache Corporation, to divest a 50% undivided interest in a Production Sharing Contract (PSC)...

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Shanghai to launch new marine fund

Shanghai has launched a 50 billion yuan ($7.6 billion) fund to invest in its shipping industry, as part of the city's plan to become an international shipping center by 2020, the local government said on Friday. [Read More] Source: People's Da...

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Tullow Oil slips on Ugandan deal concerns, while Mauritanian well is abandoned

The exploration group is down 31p to £13.96 after Total said it was renegotiating part of a deal to buy a stake in Tullow's Ugandan oil fields. The French company said the move was related to delays in gaining approval for the proposals. Tullow is waiting for...

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SGS to Attend Gastech 2011 in Amsterdam, the Netherlands

SGS will be participating in Gastech 2011 from March 21 to 24 in Amsterdam, the Netherlands. The 25th Gastech Conference and Exhibition, one of the world’s leading gas industry exhibitions, is being hosted by Shell and is an important meeting place for experts...

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ABB, Canyon Offshore Sign Cable Co-Operation Agreement

ABB, the leading power and automation technology group, has signed a cooperation agreement with Canyon Offshore for trenching services to support ABB’s subsea high-voltage cable installation projects. [Read more] Source: Dredging To...

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ION Announces Opening of New Seismic Data Processing Center in Brazil

GX Technology Subsidiary to Provide Advanced Data Processing Services ION Geophysical Corporation today announced that its GX Technology (GXT) Imaging Solutions group has established a new seismic data processing center in Rio de Janeiro.  A joint venture...

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LLOG Exploration Provides Update on 5 Deepwater Projects, Launches Website

LLOG Exploration Company, L.L.C. (and affiliate, LLOG Exploration Offshore, L.L.C.) today provided an update on five discoveries being developed in the Deepwater Gulf of Mexico and announced the launch of the company's website. The five development projects are...

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Dockwise and Amarcon celebrate ongoing relationship

Recently, members of the management of the Oil and gas service provider Dockwise, met an Amarcon delegation, to celebrate their ongoing relationship. Reason for this celebration is the completion of OCTOPUS-Onboard installations on all fifteen Dockwise vessels....

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Polarcus Recieves Lol for 3D Seismic Acquisition

Polarcus Limited  announces that the Company has received a Letter of Award for a 3D seismic acquisition project to be acquired by POLARCUS ALIMA, the fifth and latest vessel to join the Polarcus fleet and the second of the ULSTEIN SX134 design.The project...

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FLAGSHIP-DSS reduces on-board risk of fire and flooding

FLAGSHIP, a part EU-funded maritime transport project, has successfully delivered the first advanced emergency situation management tool for fire and flooding with integrated ship to shore real time reporting. [Read More] Source: Motors...

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Carbon reduction agenda goes global

A significant step forward in reducing carbon emissions in the global maritime supply chain was taken recently when the Freight Transport Association (FTA) joined forces with Heriot-Watt University (HWU) to begin developing definitive best-practice guidance on reducing cargo emissions in global maritime...

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China awards seismic research vessel contract

Rolls-Royce has won a £20 million order from Chinese conglomerate Sinopec to design and equip a specialist seismic research vessel. [Read More] Source: Motors...

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US shipyard secures car truck carrier contract

Singapore-based ST Engineering announced that its US shipyard, VT Halter Marine, has been awarded a shipbuilding contract worth about $144 million from Honolulu-based Pasha Hawaii (Pasha). [Read More] Source: Motors...

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Government to release Navy sex ring report

FINDINGS from an independent inquiry into an alleged sex ring aboard a Navy ship will be made public next week. [Read More] Source: news.com...

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Vessel and crew abandoned by Vietnam government

State-owned Vietnamese general cargo Bien Nam is abandoned by owner and manager, vessel staying in outer roard Chennai for already 6 months. 18 crew is asking for assistance. [Read More] Source: Sea N...

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"Barrington Island" Lost containers

The "Barrington Island" reached Antwerp on Feb 14, 2011. The vessel had lost 20-30 containers at sea during bad weather before. Side rails and gangway were damaged. [Read More] Source: Sea N...

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Container ship runs aground during storms in Almayate

A fully laden container ship has run aground on the Almayate beach near Torre del Mar, in the storms. The 133 m long German owned vessel, ‘K Wave’ is flying a British flag, and has suffered no structural damage, and there are no reports of her taking on water. [Read...

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Norwegian ship owner: ‘Hang the pirates’

Shipping magnate Jacob Stolt-Nielsen advocates stronger measures to deal with the spate of hijackings by Somali pirates. [Read More] Source: The Foreig...

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Shipping ministry comes to 18 stranded sailors' help

CHENNAI: Union shipping ministry on Tuesday asked the Chennai Port Trust to immediately provide food for 18 starving sailors on board MV Bien Nam, a Vietnamese vessel. The 'dead vessel' has been stranded outside Chennai port since August 2010.The instruction comes a day after TOI reported the plight...

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SBM OFFSHORE AND MITSUBISHI CORPORATION SIGN LONG-TERM COOPERATION AGREEMENT

SBM Offshore is pleased to announce it has signed a long-term cooperation agreement with Mitsubishi Corporation (Mitsubishi) to jointly pursue FPSO lease and operate projects worldwide, subject to pre-existing agreements of each of the companies.Mitsubishi will be an equity partner with SBM Offshore...

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Hyundai Heavy Launches 30 Billion Won Fund for SMEs

Hyundai Heavy Industries, the world’s biggest shipyard, launched a 30 billion won (USD 26.8 million) R&D fund to support domestic SMEs (small and medium enterprises) in cooperation with the Small & Medium Business Administration on February 15.  The...

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Isle of Man Steam Packet ferry Snaefell goes on sale

One of the Isle of Man Steam Packet's catamaran ferries has been put up for sale. [Read More] Source: BBC N...

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Ferry Chetzemoka Runs Aground In High Winds

The ferry Chetzemoka went aground in high winds and strong currents, and ferry runs between Port Townsend and Coupeville were canceled for the night on Tuesday, Washington State Ferries told KIRO 7 Eyewitness News. [Read More] Source: kirotv....

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Singapore's NOL says Q4 net profit $177 mln, beating consensus

Neptune Orient Lines (NOL) , the world's seventh largest container shipping firm, reported on Wednesday better-than-expected fourth-quarter net profit, reversing from a loss the previous year as freight rates and cargo volumes soared. [Read More] Source: Reut...

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Barge grounded in S.F. Bay, leaks fuel

Fuel and hydraulic fluid leaked from a sinking barge Tuesday near the St. Francis Yacht Club, prompting an emergency cleanup operation. [Read More] Source: SFG...

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Lisco Gloria sold for scrapping

SHIPPING: The former DFDS Lisco ferry, Lisco Gloria, that was declared a constructive total loss on 3 January, following the extensive fire on the ship last October, has been sold for scrapping [Read More] Source: Maritime Denm...

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Wilhelmsen stronger

Jan Eyvin Wang-led WWASA turns in better than expected numbers as shipping performance improves. [Read More] Source: TradeWi...

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Oil and gas shipping through Suez in focus

Over the past three weeks, as civil unrest spread through the streets of Cairo and other major Egyptian cities, the role of the Suez Canal as a key conduit for world trade came sharply into focus. Of particular concern was the importance of the waterway in funnelling Middle East energy to the US, Europe...

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One person died in cargo ship fire in Baku

One person died and two injured during the strong fire occurred on a board of "Shirvan" cargo ship docked in the water area of Baku, a law enforcement source told Trend. [Read More] Source: Trend N...

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Tongan ferry unsuitable, court told

THE HEAD of the Shipping Corp of Polynesia was told that ferry Princess Ashika was unsuited to Tongan waters before it was purchased, a court has heard. Viliami Vaka’uta Pola Vi, a maritime expert who worked for SCP for three years before becoming a lecturer at...

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Yard fire victim dies

WELDER injured in a ship repair yard fire in Azerbaijan was reported today to have died. Officials have begun an investigation into yesterday’s blaze aboard the crane ship Shirvan, owned by Caspian Shipping, the local news portal 1News.az also reported. [Read More] Source: Safety at ...

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Vinashin targets high growth at 100% in 2011

Vietnam Shipbuilding Industry Group (Vinashin), one of the largest state-owned enterprises in Vietnam targets to double its 2010 revenue in 2011 [Read More] Source: Vietnam Business N...

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Pasha building second ship to serve Hawaii

Pasha Hawaii announced Tuesday that it will build a second ship and add it to its Hawaii service, allowing the company to provide weekly service between the West Coast and the Islands. [Read More] Source: Pacific Business N...

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Bangladesh: 2 lighterage vessels sink at Ctg Port, 7 crew missing

Two cement clinker laden lighterage vessels capsized at the outer berth in Kutubdia channel on midnight of Monday after collision with mother vessel MV Ramshir. [Read More] Source: The New Nat...

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New crane in Portsmouth damaged as ship leaves

One of two towering container cranes delivered last week to APM Terminals in Portsmouth was damaged Monday morning as the vessel that carried the cranes from China was pulling away from the pier. [Read More] Source: Pilot Onl...

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SCI takes delivery of Aframax crude oil tanker

The Shipping Corporation of India last week took delivery of mt Desh Suraksha an Aframax crude oil tanker. The vessel is the third of four Aframax crude oil tankers ordered from Hyundai Heavy Industries Co Ltd of Korea, the largest shipyard in the world. [Read More] Source: Steel G...

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Mounting protest

Korean Metal Workers’ Union (KMWU) Busan Yangsan branch head Mun Cheol-sang and KMWU Hanjin Heavy Industries and Construction chapter head Chae Gil-yong stage a sit-in demonstration at a 47-meter-high tower crane, Hanjin’s Yeongdo Shipyard. [Read More] Source:...

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Drug-smuggling submarine seized in Colombia

Colombian soldiers have seized a fully submersible drug-smuggling submarine capable of reaching the coast of Mexico. [Read More] Source: CBC N...

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Korea Lags Behind China in Global Shipbuilding Orders

Korea took second place behind China in shipbuilding orders in the first half of this year, according to the South Korean Ministry of Knowledge Economy and the Korea Shipbuilders' Association. Korean shipbuilders won a total of 4.62 million compensated gross tons (CGT) in orders between January and...

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Bharati exports two new vessels to Europe

Ship building and operating group Bharati Shipyard on Tuesday announced export of two vessels to Europe for carrying forest products, containers and long cargoes. [Read More] Source: India Blo...

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Guangzhou Shipyard To Purchase Ship Interior Installation Assets

Guangzho0u Shipyard International will purchase a 24-percent stake in Wanda for 1.99 million yuan from CSSC Guangzhou Shipbuilding, reports Shanghai Securities News, citing a company filing. The purchase includes ship interior installation works. [Read More] Source: Capital ...

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S. Korean shipbuilders fall far behind Chinese rivals in Jan.

South Korea failed to regain its status as the world's leading shipbuilding nation in January as it lagged behind China in key indicators, data showed on Wednesday. [Read More] Source: Yonhan N...

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