Total to cut Angolan crude output in April

French oil major Total said on Thursday it will conduct maintenance work on its Angolan offshore crude ship Dalia in April, which oil traders said will reduce crude exports from the west African country. Total said on Thursday maintenance will start in April,...

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EOG Resources Profit Plummets

EOG Resources, Inc., reported Thursday a sharply lower profit for the fourth quarter, reflecting higher operating expenses, as well as lower gains from property dispositions. Earnings for the quarter, excluding special items, came in well ahead of analysts' estimates,...

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BP could have prevented blowout: investigator

BP's oil well in the Gulf of Mexico might never have blown last year if the company's engineers had been consulted about a key test that pointed to a defective cement job, investigators reported Thursday. [Read more] Source: ...

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BP and TNK close to Rosneft accord

BP and Russian joint venture TNK-BP are days away from a compromise agreement to form a three-way partnership with Kremlin-backed Rosneft, after the British firm agreed to talks aimed at heading off arbitration. [Read more]Source: Daily M...

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BP, after delays, eyes start of Libyan drilling

BP Plc, recovering from last year's Gulf of Mexico oil spill, plans to begin offshore exploration drilling in Libya by the end of June, later than previously expected. Spokesman Robert Wine said on Thursday that BP expected to drill offshore in Libya in the first...

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Offshore oil rig worker dies in fall from platform south of Lake Charles

The Bureau of Ocean Energy Management says it is looking into an incident on Apache Corporation's natural gas production platform WC 575A, about 150 miles south of Lake Charles that led to the death of an offshore worker. [Read more] Source: Nola....

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Exxon-Led Consortium: Oil Spill Response System Ready To Deploy

A consortium of oil giants led by Exxon Mobil Corp.  said Thursday that an early version of its containment system for deepwater oil spills is ready for deployment, potentially paving the way for resumption of deepwater drilling in the U.S. Gulf of Mexico. [Read...

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Judge Gives US 30 Days to Act on Gulf Drill Permits

U.S. offshore energy regulators have 30 days to act on five Gulf of Mexico drilling permits that the Obama administration’s offshore drill bans have delayed unreasonably, a New Orleans judge ruled today. “The government is under a duty to act by either granting or denying a permit application within...

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Chinese Change Course

Chinese shipbuilders overwhelmed Korean counterparts in 2010 in the aspects of new orders and deliveries, turning into the world's first shipbuilding powerhouse. [Read More] Source: Asia...

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Seven Havila wins Support Vessel of the Year 2011

The DSV Seven Havila was awarded the prestigious Support Vessel of the Year 2011 award at the OSJ Conference. Seven Havila is owned by JV between Havila Shipping and Subsea 7. Seven Havila got most votes in a worldwide poll in competition with three other nominated...

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Difficult ice conditions off St. Petersburg

The ice conditions in the easternmost part of Gulf of Finland have turned out to be so difficult that the Russian icebreakers are not capable of assisting all vessels. On the morning of February 17, 33 eastbound vessels were waiting for icebreaker assistance. [Read...

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Shtokman AG says no delays, govt still has doubts

The operator of Russia's giant Shtokman gas project in the Arctic said on Thursday it has no plans to delay the project, but Russia's Subsoil Ministry said the government is still discussing pushing it back to 2018. "There are no current plans to change the Shtokman...

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HHI chairman Min Keh-sik steps down

Dr. Min Keh-sik, chairman of Korea-based Hyundai Heavy Industries (HHI) steps down from the representative director position, who has been chief executive of the company for ten years. [Read More] Source: Seatrade A...

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MSC to deploy 18 new 8,800-9,000-TEU wide-beam ships by 2014

SOUTH KOREAN shipbuilder Hyundai Heavy Industries has secured an order for six 8,800-TEU, wide beam ships to join the Mediterranean Shipping Company's fleet on long-term charters. [Read More] Source: Sea N...

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Energean Oil & Gas announces the successful completion of the PA-35 production well on Prinos Field

Energean Oil & Gas is pleased to announce the successful completion, testing and placement on production of the PA-35 infill well on Prinos Field.  Reaching a total depth of 2,975 meters, ahead of budget in terms of both time and cost, the well is the...

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Maersk cancels Panama Canal transits fee

DANISH shipping giant Maersk Line is to cancel a fee due to start March 1 on all shipments transiting the Panama Canal. [Read More] Source: Sea N...

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Idemitsu-led firms find oil, gas offshore Vietnam

Three Japanese firms led by project operator Idemitsu Kosan Co  said on Thursday they have found oil and gas in an offshore exploration well in southern Vietnam, as Japan's energy sector steps up exploration activity in Southeast Asia. [Read more] Source:...

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Russian tanker was too tough for the Somali pirates

Somali pirates have not been able to seize Russian tanker NS Century. The crew of a ship belonging to "STSF Novoship (Novorossiysk Shipping Company) has shown that he intends to defend himself, and was able to escape from attacks in the Arabian Sea near Porbandar...

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Sterling Resources Commences 2011 Operated Drilling Program

Sterling Resources Ltd. is pleased to announce that drilling is expected to commence within the next few days at both Cladhan (Blocks 210/29a & 210/30a) and Grian (Block 48/28b) in the UK North Sea, as drill rigs are currently being towed to the respective sites. At the Cladhan discovery, at least...

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Welding work led to explosion of Azerbaijani vessel Shirvan and casualties

Violation of safety rules during welding operations caused a fire in Azerbaijani vessel ‘Shirvan’ in the Baku Bay. [Read More] Source: ABC...

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Buccaneer makes headway on Cook Inlet jackup

Buccaneer Energy Ltd. says the Alaska Industrial Development & Export Authority has approved spending to further develop agreements to allow investing $30 million to acquire, modify, and mobilize a jackup rig to Cook Inlet, Alaska. If acquired, the rig is...

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Technip Posts Profit In Q4

Oil and gas services provider Technip SA on Thursday reported a profit for the fourth quarter, compared to a loss last year, helped by a revenue growth of over 22 percent on strong order intake. The France-based company reported net income of 112.2 million euros...

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Bengal Shipyard to start construction from July

Bengal Shipyard Limited, a 50:50 joint venture between Bharati Shipyard and the Apeejay Group, will start construction work on its proposed shipyard project in South Bengal in July. [Read More] Source: Steel G...

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Marathon, Nexen get nod for Norway wells

The Norwegian Petroleum Directorate (NPD) has approved applications to drill two exploration wells in the Norwegian and North seas.  Nexen Exploration Norge is cleared to drill well 6507/8-8 in Norwegian Sea license PL 434, using the semisubmersible Songa...

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Grenland Group awarded FEED contract for Gullfaks B

Grenland Group has entered contract with Statoil for delivery of Front End Engineering and Design (FEED) in connection with upgrade of drilling facilities on Gullfaks B (GFB DU FEED).  The value of the contract is around NOK 25 million, and the work starting...

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Aminex Provides Oil & Gas Reserves and Resources Update

Aminex PLC provides the following announcement regarding its reserves in the USA and volumetric calculations in connection with its 'Nyuni' project, offshore Tanzania. • USA: Proved reserves (1P) of 2.5 million barrels oil equivalent net to Aminex, valued at $49 million. • Tanzania: Nyuni PSA - 278...

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Sevan Marine to Pay a Fine for Breach of Information Obligation

The board of Oslo Børs has today imposed a fine on Sevan Marine ASA (the “Company”) in the amount of NOK 411.600- USD 71.664 (equal to two times the annual listing fee) as a sanction for breach of information obligation towards the market. [Read more] Source:...

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Aker Solutions: 4th quarter and preliminary annual results 2010

Aker Solutions' operating revenues in the fourth quarter of 2010 were NOK 15 billion and earnings before interest tax depreciation and amortisation (EBITDA) was NOK 1 191 million. The preliminary results for full year 2010 show revenues of NOK 50.8 billion and...

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India to issue $11 Billion tender for six more submarines

New Delhi: To shore up its depleting submarine fleet, India will this year issue a $11 billion global tender for building six more next generation vessels, navy chief Admiral Nirmal Verma said here Wednesday. [Read More] Source: siliconin...

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Pennsylvania to pump $42 million into Aker Philadelphia Shipyard

Aker Philadelphia Shipyard, Inc. (APSI), the sole operating subsidiary of Aker Philadelphia Shipyard ASA (Oslo: AKPS), announced today that the Commonwealth of Pennsylvania has agreed to partner with the shipyard and to fund the purchase of certain fixed assets from APSI for a purchase price of $42...

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Northrop Grumman and Pipavav Shipyard sign Memorandum of Understanding

Bangalore: Pipavav Shipyard Ltd has signed a Memorandum of Understanding with Northrop Grumman Overseas Service Corporation, Delaware, USA at Aero India 2011. [Read More] Source: MACHIN...

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Second ferry newbuild launched at Rauma

The launch of the second ro-pax ferry, ‘Spirit of France’, which STX Rauma is building for P&O Ferries, took place on 17 February 2011. She is a sister ship to ‘Spirit of Britain’, which was handed over in January 2011. [Read More] Source: Motors...

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First QE Class hull sections joined

Construction of the first of the two new aircraft carriers for the British Royal Navy, HMS Queen Elizabeth, took a big step forward in Glasgow on Sunday. [Read More] Source: Maritime Jour...

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ShipConstructor showcases new software at Seatec Italy

ShipConstructor Software Inc. will showcase the latest version of its popular shipbuilding CAD/CAM application at Seatec Italy, February 16-18, Carrara Italy, Stand D28 857, and also will highlight the new features available in the next version scheduled to be released in March. [Read More] Source:...

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Drydocks World sees a ‘fruitful year’ ahead

Drydocks World, Dubai World’s shipbuilding unit, sees a ‘fruitful year’ ahead after a tough 2010 and will deliver good results amid signs of positive indicators and stable environment globally, its top official said on Wednesday. [Read More] Source: Khaleej T...

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Guangzhou Shipyard to purchase stake in Wanda

It is reported that Guangzhou Shipyard International will purchase a 24% stake in Wanda for CNY 1.99 million from CSSC Guangzhou Shipbuilding. The purchase includes ship interior installation works. [Read More] Source: Steel G...

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Full steam ahead for shipbuilders' plans to retain market position

China plans to maintain its current global market share of 40 percent in the shipbuilding industry during the next five years, further consolidating its dominant position in the field, said Zhang Guangqin, head of the China Association of the National Shipbuilding...

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Two more charged in Vinashin case

The investigation agency has taken legal proceeding against two former executives of a Vinashin affiliate on charge of “intentionally breaking State regulations on economic management, causing serious consequences”. [Read More] Source: VOV N...

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Argentine grain ports workers, exporters reach deal

Argentine labor unions representing workers at key grain ports have reached a wage agreement with export companies and called off plans to launch a damaging new strike, a union leader said on Wednesday. [Read More] Source: Reut...

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12 dead in tour boat accident, victims' names identified

QUANG NINH – The bodies of twelve victims have been recovered following a tour boat accident in Ha Long Bay. Name of the victims in the tour ship accident this morning has been officially confirmed. [Read More] Source: Viet Nam N...

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LNG-Tanker Rates Doubling as Ship Glut Erodes: Freight Markets

Record demand for liquefied natural- gas is causing the decade-long glut of vessels that carry the fuel to disappear, doubling freight rates and at least tripling profit for shipping lines Golar LNG Ltd. and Exmar NV. [Read More] Source: Bloomb...

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Panama Canal chief unfazed by Colombia rail rival

The administrator of the Panama Canal dismissed Wednesday the notion the key waterway could be under threat from a Chinese-backed project to build a new rail link across northern Colombia. [Read More] Source: MSN Philippines ...

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Royal Navy sailors rescue five hostages held captive aboard pirate ship

THIS is the moment Royal Navy sailors seize a pirate boat in ­the Indian Ocean freeing five hostages who had been held captive for 92 days. [Read More] Source: Mir...

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The K Wave successfully refloated off Almayate

The ‘K Wave’, the German container ship which ran aground off the coast of Almayate, Vélez Málaga, in Tuesday’s storms, was sailing towards the port in Málaga on Wednesday afternoon after a successful refloating operation to take it out to deeper waters. [Read...

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Fred Olsen Windcarrier orders crewboats

Fred. Olsen Windcarrier AS, Oslo, Norway, recently entered into a contract with Norwegian shipyard Båtservice Mandal AS for the construction of four crewboats for transport of service technicians to and from offshore wind turbine installations. [Read More] Source:...

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S. KOREA'S STX PAN OCEAN SWINGS TO PROFIT IN 2010

STX Pan Ocean Co., South Korea's largest bulk shipping line, said Thursday that it returned to the black last year on increased shipping demand and decreased costs. [Read More] Source: Trading Mark...

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Chinese navy rescued Korean ship from pirates

A South Korean cargo vessel, which was being chased by pirates in the Gulf of Aden, was rescued by the Chinese navy, China’s state media said. [Read More] Source: The Korean Ti...

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Cape Town Fire-Fighters Battle Blaze on A.P. Moeller Ship

Cape Town fire-fighters are battling a blaze on a board a British vessel owned by A.P. Moeller-Maersk A/S’s Safmarine unit that was ferrying charcoal to Rotterdam, Safmarine said. [Read More] Source: Bloomb...

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Oil Spilled near NE China Port

Four Chinese oil recovery vessels are clearing oil spill left by a Sierra Leone cargo ship after it tilted near Dalian Port, northeast China's Liaoning Province. [Read More] Source: CRIENGL...

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