New gas discovery in Tal Block in KP

MOL Pakistan Monday announced successful test results in the Tolanj X-1 exploration well. Oil and gas have been encountered in the exploratory well, Tolanj X-1, which is being drilled in TAL Block, Khyber Pakhtunkhwa. Tolanj X-1 well was spudded on June 21 2010. In the Lumshiwal Formation, upper 48...

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A difficult balancing act for head of Gazprom

Alexei Miller will have to perform a careful balancing act when he goes into European energy policy negotiations later this week. The chief executive of Gazprom – the state-owned Russian giant that supplies more than a fifth of Europe's gas – will be called upon...

Posted on 2/21/2011 / 0 comments / Read More

Australian environment minister poised to make decision on APLNG

Australian environment minister Tony Burke is scheduled to hand down his decision Tuesday on Australia Pacific LNG'S proposed A$35 billion ($35.5 billion) LNG project on Curtis Island in Gladstone. Burke was originally scheduled to announce his ruling on the proposal...

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Chesapeake Energy Sells Assets to BHP for $4.75B

Chesapeake Energy Corp. says it's agreed to sell all of its assets in a massive natural gas field to BHP Billiton Ltd. for $4.75 billion in cash. [Read more] Source: ABC N...

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Iraq to initial Akkas gas deal Feb 24

Iraq's oil ministry will this week sign an initial deal with South Korea's KOGAS and Kazakhstan's KazMunaiGas to develop the western Akkas gas field, an oil ministry official said on Monday. Akkas has estimated reserves of 5.6 trillion cubic feet. [Read more] Source:...

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Beach To Complete Acquisition Of Impress After Senex Accepts Beach’s Offer

Beach Energy Limited  announces it has acquired Senex Energy Limited’s (formerly Victoria Petroleum NL) 20% stake in Impress Energy Limited, allowing Beach to commence procedures for the compulsory acquisition of all remaining Impress shares. [Read more] Source: Your Oil & Gas N...

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Maersk, OGX discover oil with Carambola B offshore Brazil

Maersk Oil and partner OGX have reported finding oil in the ongoing Carambola B exploration well offshore Brazil. The well is located in the BM-C-37 license in the Campos Basin in 130 meters water depth, some 80 kilometers off the coast of the state of Rio de Janeiro. Maersk Oil is the operator and...

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Rosneft sees offshore, overseas as key to growth

Russian oil major Rosneft will outline offshore development and expansion abroad as two of its key areas of growth when it publishes its new strategy later this year, a top executive said on Monday. [Read more] Source: The Baltimore ...

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Statoil D-day for Asian yards

Norway’s Statoil has issued a tender for at least two new specialised drilling rigs for use on mature Norwegian fields, with four South-East Asian yard heavyweights reported to be in the running. [Read More] Source: Upstrea...

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New orders & prices all down

The total of new orders worldwide during January of 2011 came to 64 ships of 4.2m DWT, 2.8m GT and 1.5m CGT, decreasing by 59% in dwt terms compared with the same period of the previous year. [Read More] Source: Asiasi...

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Statoil invites tenders for two specially built offshore drilling rigs for long-term contracts

Statoil is sending out an invitation to tender for a new type of drilling rig. It is specially-designed by the industry on behalf of Statoil for use on mature fields on the Norwegian continental shelf (NCS).  [Read more] Source: Penn Ene...

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Opportunities Beckon

Filipino seafarers will find greater opportunity as tens of thousands of seafarer jobs will be available in the next few years. [Read More] Source: Shiptal...

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Aker orders Two Ultra-Deepwater drillships from DSME

Following the successful share issue and with reference to the Letter of Intent announced 20 January 2011, Aker Drilling has through its subsidiary Aker Drilling Offshore Services Public Ltd. confirmed the turn key, EPC contract for construction of two ultra-deepwater...

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Year of the Pirate

With Somali piracy reaching hitherto unimagined peaks it could be that 2011 is the Year of the Pirate. According to Peter Hinchliffe, secretary general of the International Chamber of Shipping, “It is getting worse on a weekly basis.” [Read More] Source: Ship...

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Fredriksen's Golden Ocean issues warning to Korea Line

John Fredriksen’s Golden Ocean has issued a warning to Korea Line Corp that it pursue any unpaid charter hire. Golden Ocean has two bulk carriers on charter to Korea Line, which went into debt rehabilitation last week. [Read More] Source: Seatrade A...

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BP signs up to $20bn oil and gas deal in India

BP is poised to become a major player in the Indian gas business after signing a $20bn (£12.3bn) deal with Reliance Industries covering exploration and development . [Read more] Source: The Telegr...

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DNV recommends LNG fuel shipping for North America

Houston: “Domestic ships in North America have three options to meet new emissions control regulations; install CO2 scrubbers, burn low sulphur fuel or switch to LNG fuel for the ship’s propulsion,” says Kenneth Vareide, director of operations for DNV North America...

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Chevron grants offshore Thailand contract to Seadrill

Deepwater drilling company Seadrill Ltd. has agreed to a new three-year contract with Chevron Thailand Exploration and Production offshore Thailand for the tender rig T-12 with a two-year option period. [Read more] Source: Penn Energy&nb...

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Container Shipping Lines See Profits Rise As Freight Revenues Recover

As bankers hide behind their profit reports in the face of widespread criticism the container shipping industry seems to be breathing a subdued sigh of relief as profit figures for box traffic in 2010 are reported. [Read More] Source: Handy Shipping Guid...

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Marine fund to boost Shanghai’s shipping hub credentials

The local government of Shanghai has launched an RMB50 billion (US$7.6 billion) fund that will invest in ports, shipping, shipbuilding and related services, in a bid to establish the city as an international shipping hub by 2020. [Read More] Source: Baird Mar...

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Vinalines predicts good year for Vietnamese

Vietnam National Shipping Line (Vinalines) is predicting a strong recovery in the local maritime transport sector in 2011, but said that this would require local shippers to invest in fleet upgrades and establish a name for themselves in global trades. [Read More] Source: Baird Maritim...

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Shell To Shut Down Nigeria Oil Field For Maintenance

Shell's Bonga deepwater oil field in Nigeria is to be shut this month for maintenance, a company spokesman said Monday. The field is located 120 kilometers offshore Nigeria and has a production capacity of 225,000 barrels a day. [Read more] Source: Automated Tra...

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Greek: Shipping revenues up 13 pct in 2010; another bad tourism year

Revenues from the shipping sector, a crucial source of income for the Greek economy, rebounded in 2010, while the tourism sector had another bad year, according to data from the Bank of Greece released on Friday. [Read More] Source: ekathlmerlnl.co...

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Gas demand lifts Woodside Petroleum profit

AUSTRALIA'S premier independent oil and gas producer, Woodside Petroleum, overcame lower production in 2010 to lift net profit almost 7 per cent to $1.57 billion and said it remains bullish about medium term demand for liquefied natural gas. [Read more] Source:...

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Norway's GTB Invest Acquires Two 13,100-TEU Ships

Norway's GTB Invest purchased for $310 million two 13,100 20-foot equivalent unit vessels on order from Hyundai Heavy Industries, less than three months after taking delivery of its first box ship. [Read More] Source: Marine New...

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Deep Sea Supply divests two AHTS ships for USD40.4m

Oslo-listed oil service provider Deep Sea Supply said today it has sold two of its anchor-handling tug and supply (AHTS) vessels, worth USD20.2m each, to an international offshore supply company. The oil services provider will book the gain in the fourth quarter...

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French Ports Cut Deal to Avert Strike

French dockworkers called off their six-week campaign of rolling strikes Feb. 18 after reaching an agreement with port employers over early retirement. [Read More] Source: Journal of Commerc...

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'Dirty bomb' fears over radioactive container at Italian port

‘Dirty bomb’ fears are increasing at the Italian port of Genoa as the authorities try to establish the contents of a highly radioactive container, and work out how to deal with it. [Read More] Source: IF...

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BG Norge Receives Go-ahead for Drilling on Blocks 15/12 and 6/3

BG Norge AS has received consent to use the mobile facility West Alpha for drilling of wells 15/12-E1H and 6/3-A1H in the southern part of the North Sea. The wells (the Gaupe field) belong to production licence 292 and are located approx. 240 kilometres southwest...

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Krasnoye Sormovo launches tanker, built for VF Tanker

Official naming and launching and naming ceremony was held at yards of Krasnoyer Sormovo Plant on Saturday, February 19, 2011. The shipbuilder launched oil tanker, built for Volga Fleet Tanker (VF Tanker), said the press service of MNP, the shipyard owner. The vessel was christened the Mechanic Belov. [Read...

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Repsol-YPF contract UK flagged vessels for Malvinas basin exploration

Repsol-YPF planned exploration for hydrocarbons in the Malvinas basin, off Tierra del Fuego has suffered a major public relations setback following on the Buenos Aires press revelation that the two vessels contracted for the job not only are UK flagged but also...

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GAC extends global agency network to Bahamas

GAC’s global shipping network has been further strengthened with the signing of an alliance agreement with Bahamian agency Elnet Maritime Co. Ltd., to form GAC-Elnet, effective 1 March 2011. Elnet Maritime Co. Ltd. was founded by shipping veteran Elbert ‘Ellie’...

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Falkland Islands: Rockhopper Exploration plc 14/10-4 Appraisal Well Spud

14/10-4 is the first appraisal well to be drilled on the Sea Lion feature situated on Licence PL032, which is 100% owned and operated by Rockhopper. The appraisal well (14/10-4) is located 2.3km away from the Sea Lion 14/10-2 discovery well, in the southern lobe...

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Iran has 20-25 mil barrels crude stored on tankers: sources

Iran, OPEC's second biggest producer after Saudi Arabia, has over 20 million barrels of unsold crude oil stored on tankers in the Persian Gulf, shipping sources said this week. [Read More] Source: Pla...

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Asia handysize freight soft despite costlier bunkers

The freight market outlook was soft for alumina and other dry bulk cargoes on handysize ships within the Asia Pacific region, shipping sources said Monday, due to a high number of spot and prompt vessels in the region. [Read More] Source: Pla...

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Hellas: Ship owners absent from ship investing in the past week

Despite the positve comeback of dry bulk freight rates, as evidenced by the course of the Baltic Dry Index, Hellenic ship owners have been absent from the new building, as well as the secondhand vessel markets this past week. still, the week ended with 20 sales reported in the secondhand, as well as...

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Greenpeace raises ship financing, one fork at a time

Want to help Greenpeace fund the construction of the new Rainbow Warrior? Buy a fork for EURO 1 or a washing machine for EURO 750 or a GPS for EURO 4,000. [Read More] Source: Marine ...

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DOF ASA Takes Delivery of Skandi Gamma PSV

DOF ASA informed that they have taken a delivery of Skandi Gamma, hull no 738 from STX OSV Søviknes, on Thursday, February 17 , at at 12:40. DOF ASA thanked to Project Manager Ørjan Tenden-Vie and his team of dedicated site personnel. [Read more] Source: Offshore...

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AMEC acquires qedi, a market-leading oil and gas completions and commissioning services company

AMEC, the international engineering and project management company, announces today that it has acquired qedi, a market-leading project delivery company, focused on delivering specialist completion and commissioning services for major projects in the oil and gas...

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Violence in Libya forces operators to evacuate staff, curtail oil production

Various oil and gas operators in Libya are shutting in production and removing international staff due to heightened violence and protests in the North African country, reports Reuters.  [Read more] Source: Penn Ene...

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Israel navy draws up plans to secure offshore drilling in east Mediterranean

Israeli navy is drawing up plans to secure facilities of several offshore gas drilling sites in the eastern Mediterranean and future exploration projects as those drilling sites near completion, local media reported Sunday. [Read more] Source: istockanalyst....

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Hamworthy Improves on Separator Performance

Hamworthy  signed a contract with FPSO Owner OSX 1 Leasing B.V., a subsidiary of OSX Brasil S.A., for delivery of its newest generation Vessel Internal Electrostatic Coalescer (VIEC) technology to the FPSO OSX-1. [Read more] Source: Marinelink....

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Less gas from Shah Deniz for SOCAR

Azerbaijan's state oil company SOCAR received 7.7m cubic metres of gas from the Shah Deniz project in January. This was less than half the 15.9m cubic metres the company received in January 2010, according to figures from SOCAR. [Read more] Source: News...

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AGR Petroleum Services Awarded Major Software Contract With Petronas

AGR Petroleum Services has secured a contract worth more than £450,000 to provide its risk management software to Petronas, Malaysia's National Oil Company (NOC). [Read more] Source: Industry To...

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John Wood Group reports drop in year-end profits

ENERGY services firm John Wood Group is increasing its dividend to shareholders despite reporting a drop in profits for the 2010 financial year. Pre-tax profits dropped four per cent to $254.6 million (£156.9 million) for the year to December 31, 2010compared...

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Frontline to net $6m from VLCC charter termination

TANKER giant Frontline will earn an early termination pay-out of $5.8m on two very large crude carriers it will return to John Fredriksen-affiliated Ship Finance International. [Read More] Sorce: Lloyd's L...

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