Sound Oil nets Colle Ginestre exploration license onshore Italy

Sound Oil plc has been awarded a new exploration license onshore Italy, which holds a number of prospects and is located nearby a prolific gas province.  The Colle Ginestre license is located in Campobasso (Molise) and Chieti (Abruzzo) on the Adriatic coast of central Italy. The new permit lies...

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Japan regrets China's oil production in disputed field

Japan expressed regret Wednesday over China's reported oil production in a disputed gas field in the East China Sea, a feud that could aggravate the already strained relationship between the two Asian powers. [Read more] Source: Monsters and Critics....

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Small and Medium in crisis

While large shipbuilders have been watching new orders increasing in a steady pace since last year, small- and mid-size shipyards have been afflicted with new order drought more and more in Korea. [Read More] Source: Asia...

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STX Europe soars with $5bn orders

STX Europe has turned around a loss of NOK 875m for 2009 into a profit of NOK 241m ($43m) for 2010 in profit before tax. [Read More] Source: Asia...

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Woodside set to extend life of NW Shelf

Woodside Petroleum says it is on track to sanction development of the Greater Western Flank gas development, to extend the life of the North West Shelf, by early next year. [Read more] Source: theWest.com.a...

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Fraud probe at Beluga

Two Beluga top-ranking executives and several managers are being investigated for possible fraud and false accounting following filings made by the US investment firm Oaktree Capital, the public prosecutor in Bremen, Germany, has stated. [Read More] Source: Break...

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Bangladesh: Government Plans to Buy 17 Dredgers

The government is going to purchase 17 more dredgers at a cost of Tk 1,450 crore to restore navigability of the country’s river routes, said Shipping Minister Shahjahan Khan yesterday. [Read More] Source: Dredging To...

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Shell nears deals for Nigeria oil blocks

Royal Dutch Shell is close to completing the sale of its stake in four Nigerian onshore oil blocks after receiving bids from several foreign and local companies, industry sources close to the deals said. [Read more] Source: Reut...

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EXXONMOBIL TO SPEND $34 BILLION THIS YEAR AS IT RAISES OUTPUT

ExxonMobil, the largest U.S. oil company, said it plans to spend $100 million per day over the next five years to increase its oil output. ExxonMobil, currently the largest company in the world by market capitalization, said it will spend $34 billion this year...

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New study looks at effects of shipping containers lost at sea

Following up on MBARI’s discovery, sanctuary staff investigated the potential for recovering the other missing 14 containers. However, they soon discovered that it was unlikely that the additional containers would ever be located, and the cost and time involved...

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Lukoil's Alekperov Looking for Partners to Invest in U.S. Shale Gas Fields

OAO Lukoil, Russia’s largest non- state-controlled oil company, is scouting for oil and natural- gas investments in U.S. shale fields, President Vagit Alekperov said. “If we are lucky in identifying a good partner, we are ready to be actively involved in the U.S.,”...

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Hapag-Lloyd and RCL announce additional Asia service

Hapag-Lloyd and Regional Container Lines (RCL) will start a new weekly service from China and Korea to Sri Lanka, India and Pakistan to be operated under the name CIS (Hapag-Lloyd) and RCI (Regional Container Lines) respectively. Source: Cargotec [Read More] Source: Baird Marit...

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Exxon's Tillerson blames BP for Gulf oil spill

Exxon Mobil Corp Chief Executive Rex Tillerson said on Wednesday last year's Gulf of Mexico oil spill disaster was primarily the fault of BP Plc management. "It was a breakdown of management oversight," Tillerson said at a news conference following the company's...

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Libya's oil facilities bombed as sanctions begin to bite the regime

Oil facilities in eastern Libya came under heavy air attack Mar. 9, while the country’s leader Moammar Gadhafi taunted Western powers over their reported plans to establish a no-fly zone over the North African country. [Read more] Source: Penn Ene...

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Incat Crowther to design 42 m cat for Indonesia

Incat Crowther has secured a contract to design a 42 m wave piercing catamaran ferry for Indonesian operator Quicksilver Bali. Quicksilver runs day tours and dinner cruises out of Bali, using the Incat Crowther-designed wavepiercer Quicksilver 6. Source: Cargotec [Read...

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Cargotec has secured orders worth more than EUR 20 million for MacGregor cranes and hatch covers

Cargotec has confirmed new orders worth more than EUR 20 million to deliver fully electric driven MacGregor cargo handling cranes and design and key components for hatch covers. The equipment is for eight general cargo vessels to be built at Zhejiang Ouhua Shipbuilding...

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Pirate attack to "Maersk Alabama"

The "Maersk Alabama" was attacked by armed pirates on Mar 8, 2011, between Kenya and Madagascar. It is at least the third time that "Maersk Alabama" has been attacked by pirates. The "Maersk Alabama" was attacked by armed pirates on Mar 8, 2011, between Kenya...

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Topaz Energy aims to raise $500m in London IPO

Topaz Energy & Marine, a Dubai- based oil and gas contracting company, is seeking to raise as much as $500 million in an initial public offering in London, according to terms for the sale obtained by Bloomberg News. [Read more] Source: Gulfnews....

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Photos of MSC Patricia after collision

In the night of Mar 5, 2011, around 3 a.m. the "Zelada Desgagnes" was in collision with the Panama flagged cargo m/v "MSC Patricia" (IMO: 9000209), near the Antwerpse Noordzee-container terminal. [Read More] Source: Sea N...

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Ship owners successfully trial unique online ship supply catalogue

Trials of a unique online catalogue which transforms the way ship owners, ship managers and ship suppliers select and order their onboard and onshore stores are proving a great success with more than 3,000 vessels already taking part. [Read More] Source: One ...

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Maersk Oil Qatar signs pact with TNO

Maersk Oil yesterday announced that it has established a long term collaboration agreement with TNO to jointly develop new technologies for increased oil recovery (IOR). Focus will be on long horizontal wells and increasing oil recovery through integrated operations...

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Rongsheng Heavy Focuses on Offshore Engineering Business

China Rongsheng Heavy Industries Group Holdings is diversifying from its core shipbuilding business to offshore engineering, marine engines and machinery, after reporting double-digit growth last year. [Read more] Source: Offshore Energy To...

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Ransom pay to pirates rises 100%

There has been a hundred per cent increase in the ransom paid to pirates following hijackings in 2010, a senior industry official has said. Experts from the maritime and shipping industry who had gathered in Dubai for the Piracy Seminar on Tuesday were of the...

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Dry bulk market showing signs of stronger recovery

The dry bulk market jumped by 3.37% yesterday, with the industry’s benchmark, the Baltic Dry Index (BDI), moving up to 1,472 points, levels not seen in weeks. The recovery was led by the Capesize market, which burst forward by an impressive 6.52%, with the Baltic Capesize Index reaching 1,699 points,...

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Hyperdynamics Announces Addition of Curtis Jackson as Vice President-Drilling and Technology

Hyperdynamics Corporation announced today that Curtis Jackson has joined the Company as Vice President-Drilling and Technology, based in Houston. In this role, Jackson will be responsible for implementing the 2011-12 drilling program, introduction of engineering technology to the Company's exploration...

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Somali pirates release 11 Indians

NEW DELHI: Somali pirates on Wednesday freed all crew members of a hijacked ship m.v. Rak Afrikana including 11 Indians, who have since been shifted to a Spanish naval ship. [Read More] Source: The Hi...

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Tap Oil announces Zola-1 well drilling update

During the period from 06:00 hours WST on 2 March 2011 to 06:00 hours WST on 9 March 2011, the suspension plugs were drilled out to the previous well depth (4,374m MDRT) and 216m of new 216mm (81/2”) hole was drilled from 4,374m to the current depth of 4,593m....

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Apache Completes Interim Repair Work on North Sea Pipeline

Apache Corporation reported that interim repair work on the Forties Bravo to Charlie pipeline was completed on March 6, 2011, and production from Forties Bravo is ramping up to approximately 50 percent of the pre-outage rate of 11,600 barrels of oil per day. [Read...

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Statoil Gives Update On Dagny/Ermintrude Field Prospects

Norwegian oil and gas company Statoil ASA gave an update on its Dagny and Ermintrude discoveries in the North Sea Wednesday, saying the Dougal exploration well has been classified as dry, but that preliminary estimates of the Dagny/Ermintrude field in the North...

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Maersk Megaship Order Coincides With Capacity Sweet Spot: Freight Markets

Maersk Line, the world’s largest container shipper, may extend its market share and lift earnings by taking delivery of the 10 biggest cargo vessels ever built just as a global shortfall in capacity increases carriage rates. [Read More] Source: Bloomb...

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AGR Field Operations to provide services to Jabiru and Challis field abandonments

PTTEP Australasia has engaged AGR Field Operations’ Subsea Division for expert engineering, project management and support services for the subsea well abandonment of the subsea facilities for Challis and Jabiru fields in the Timor Sea, Australia. [Read more] Source:...

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Korea Eximbank Offers 110bil won to DSME Wind Farms

The Export-Import Bank of Korea (Korea Eximbank) decided to pour US$100 million (or 110 billion won) to Daewoo Shipbuilding and Marine Engineering (DSME)’s wind power development project. [Read More] Source: ETN...

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Nigeria ready to back any OPEC moves to stabilize oil market:NNPC

Nigeria is ready to support OPEC in stabilizing the international oil market following the turmoil in the Middle East and North Africa that has caused global crude prices to spiral upwards, state-owned Nigerian National Petroleum Corporation said Wednesday. [Read...

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Shippers build up fleets for Asia runs

Middle East shipowners are gearing up to cater for the rise of China in the world economy by taking delivery of new tankers and container ships. This summer United Arab Shipping Company (UASC), which is jointly owned by several Gulf states, will take delivery...

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Saipem wins mega EPIC contract on the Al Wasit gas development offshore Saudi Arabia

Saipem has been awarded new E&C Offshore contracts worth in excess of $2.2 billion.  In Saudi Arabia, Saudi Aramco awarded the EPIC contract, in the framework of the Al Wasit Gas Program, encompassing the offshore development of the Arabiyah and Hasbah...

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LUNDIN PETROLEUM ANNOUNCES CONDITIONAL LISTING ON THE TORONTO STOCK EXCHANGE

Lundin Petroleum AB (Lundin Petroleum) announced that its shares have been conditionally approved for listing on the Toronto Stock Exchange (“TSX”). Lundin Petroleum’s shares will trade on the TSX under the symbol “LUP”. The Company’s shares will also continue...

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SONGA OFFSHORE Provides February fleet update

Songa Offshore,  Cyprus-based offshore drilling company, provides fleet update for February 2011. Songa Venus achieved operating efficiency of 97% during the month. The rig continues to operate for Total E&P in Australia. [Read more] Source: Offshore...

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