Cougar Oil and Gas Canada Inc. Announces Farm In on Heavy Oil Project

Cougar Oil and Gas Canada Inc. is pleased to announce a Farm-in agreement has been finalized with a public company regarding the development of a heavy oil prospect in the Manning area of northern Alberta. [Read more] Source: Stockho...

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Woodside confirms gas strike at Martin-1

WOODSIDE PETROLEUM is on track to order long-lead items for the much-anticipated expansion of its flagship Pluto LNG project by mid-year after confirming it had struck gas with the Martin well. [Read More] Source: ...

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Algeria awards only 2 energy permits in bid round

Algeria awarded only two out of 10 oil and gas permits on offer in a licensing round on Thursday, raising new questions about whether it has enough new projects coming on stream to maintain output levels. [Read more] Source: Reut...

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Nexen To Reduce Up To $1 Bln. Debt

Canadian energy company Nexen, Inc., Thursday listed out actions to reduce up to $1 billion of its debt from cash on hand, with a view to improve its credit rating. [Read more] Source: RTT N...

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Japan Asks for More LNG, Oil Supply From Indonesia

Japan asked Indonesia on Thursday to supply it more liquefied natural gas (LNG) and oil after a devastating earthquake crippled a nuclear power plant. [Read more] Source: The Jakarta Gl...

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Pacific Rubiales sees no significant gas resources at Quifa

Canada's oil and gas company Pacific Rubiales Energy Corp said it does not expect the Quifa block in the Llanos Basin in Colombia to yield significant gas resources, but is planning a reserves update after it gets the necessary environmental clearances. [Read...

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BP's contracts in Libya 'still valid' despite turmoil

"At the moment we just have to wait and see," a BP spokesman said. "We're monitoring the situation. We have a contract with NOC and as far as we know it is still in place." [Read more] Source:The Telegr...

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PetroChina Plans to Add Gas Assets as Japan Quake Boosts Demand

PetroChina Co. pledged to accelerate acquisitions of energy assets and develop the country’s domestic natural gas resources as nuclear plant closures following last week’s Japan earthquake boost demand. [Read more] Source: Bloomb...

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Thy Ferries bankrupt

Thy Ferries Cargo A/S has filed for bankruptcy and the activity continues in a newly formed company called TF Cargo. The old company Thy Ferries Cargo was unable to pay their bills after the first months of trading. [Read More] Source: ship...

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Heritage Oil up after report it rejected a £1.2bn takeove

Shares of Heritage Oil, a Canadian company with a big gas discovery in Iraqi Kurdistan, have risen sharply on reports that the company rejected a £1.2 billion (Dh7.11bn) takeover offer as too low. [Read more] Source: The Natio...

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Vessel captured by Somali pirates used as mothership for additional attack By gCaptain Staff

According to anti-piracy task force EU NAVFOR, the bulk carrier M/V Sinar Kudus was hijacked by pirates approximately 320 nautical miles North Eas of the island of Socotra in the Somali Basin.  Just hours after her capture, the vessel was boarded by 30 to...

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Week of 10 March: Maritime Crime and Piracy Update

Weekly Maritime Crime and Piracy Summary (source: Office of Naval Intelligence) [Read More] Source: gCapt...

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Saudi Aramco teams with Sinopec for Red Sea Refining Co. Yanbu refinery project

Saudi Aramco and China Petrochemical Corporation (Sinopec) signed a Memorandum of Understanding (MOU) related to the ongoing development of the Red Sea Refining Company (RSRC), a world-class, full-conversion refinery in Yanbu’, on the west coast of Saudi Arabia....

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Asian Container Freight Trade Set To Boom

A sea change in the buying habits and economic circumstances of the region has resulted in a shift in freight levels throughout the continent and threatens to further diminish the ocean shipping trade with the West. Transhipment container levels are growing annually...

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DNV Reports: Large potential for LNG in regional shipping and power generation

The Joint Industry Project (JIP), which was initiated by DNV during Singapore Maritime Week in 2010, mobilised a consortium of 16 participants from all parts of the LNG value chain. Among the members are Gazprom, Rolls-Royce, Wartsila, Hanjin Shipping, I.M. Skaugen, Keppel, The Linde Group, Trans LNG,...

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China Shipping shows strong 2010 profit

China Shipping Development posted a 61.2% jump in net profit for 2010 over the previous year from higher shipment volumes. Net profit rose to RMB1.72bn ($261.76m) last year compared to RMB1.06bn in 2009. Revenue also improved to RMB11.28bn as against RMB8.73bn the previous year. [Read More] Source:...

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Big turnaround for OOIL/OOCL

Orient Overseas (International) (OOIL) has announced a profit attributable to shareholders from the OOCL container transportation and logistics business of US$841.6 million, compared to a loss of US$376.9 million for the equivalent activities in 2009. [Read More] Source:...

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BOEMRE approves Gulf’s first deepwater FPSO facility

The Bureau of Ocean Energy Management, Regulation and Enforcement (BOEMRE) today provided the final approval necessary for Petrobras America, Inc. to begin oil and natural gas production at its Cascade-Chinook project using a Floating Production Storage Offloading...

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Ghana taps Trinidad for natural gas joint venture

Trinidad and Tobago's state-run natural gas company is teaming up with Ghana's state-owned oil company in a joint venture to transport, process and distribute natural gas in the West African country. [Read more] Source: Reut...

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Armed guards repel pirate attack from ship hijacked previous day

A general cargo carrier that did not have armed guards on board was pirated yesterday. It was almost immediately used as a mother ship to launch an attack on another bulk carrier. That ship did have armed guards on board and the attack was repelled. [Read More] Source:...

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Maersk vessels to slow no more - despite surging fuel costs

MAERSK Line will pass on higher fuel expenses to customers through bunker surcharges to avoid slowing the speed of its vessels down further in spite of bunker fuel prices being at a 30-month high. [Read More] Source: Sea N...

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Woodside boosted by big Carnarvon Basin gas discovery

WOODSIDE Petroleum's urgent bid to find enough gas to underpin a fast-tracked expansion its $14 billion Pluto gas project in Western Australia has been boosted by a major discovery in the Carnarvon Basin. [Read more] Source: The Austral...

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Bharati Shipyard Delays Fundraising, New Units

Bharati Shipyard Ltd. has put on hold plans to build two manufacturing facilities, and delayed plans to raise $200 million to expand a partly owned units. [Read More] Source: The Wall Street Jour...

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Maersk says ships to avoid Japan reactor area

Danish shipping and oil group A.P. Moller-Maersk (MAERSKb.CO: Quote) said on Thursday its vessels would not enter or pass through an offshore area close to an overheating nuclear plant in Japan. [Read More] Source: Reut...

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Shippers see Japan ports able to keep cargo flowing

Shipping companies are confident of keeping goods moving through Japan's ports, using spare capacity at the largest to deal with cargo displaced from those devastated in last week's earthquake and tsunami. [Read More] Source: Reut...

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Tankers still in demand despite bleak outlook, Hellenic ship owners dominate ordering activity

As the tanker market’s current orderbook has been decreased by 11% over the last year to 118 million dwt, against 132 million dwt, things are starting to pick up for ship owners, with BIMCO’s shipping analyst Peter Sand, reporting that the current pace of new contracts signed (albeit steady) is now...

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Siemens is helping the victims of the disaster in Japan

Siemens is conducting an international fundraising campaign to help the victims of the earthquake and its aftermath in Japan. Through March 31, 2011, Siemens will match every euro that employees around the world donate to a special bank account opened for that purpose. The company itself will set aside...

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Uncertainty prevails in newbuilding

In the wake of the unprecedented disaster in Japan, global shipowners are bound to pause newbuilding order plans and reflect on their future strategies, as current market conditions are much too unstable to even foresee what’s to occur in a few weeks time, let...

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Naming Ceremony for Vroon’s New Tanker Held at Hyundai Mipo Dockyard in South Korea

Vroon  reports that the namegiving ceremony for the MT Iver Beauty took place on Wednesday 16 March 2011, at the Hyundai Mipo Dockyard, Ulsan, South Korea. The vessel was christened by Maaike Steinebach, Managing Director of Energy, Commodities and Transportation...

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Germany: Offshore Installation Vessels Owned by RWE Officially Launched

At the beginning of March, the first of two offshore installation vessels owned by RWE was officially launched after only seven months of construction. The works are thus already a month ahead of the original time schedule. The final large-scale components, the...

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Brother of dead Deepwater Horizon worker begs Congress for stronger safety measures

Fighting back tears as he spoke, the brother of one of 11 workers killed on the Deepwater Horizon rig begged lawmakers Wednesday to toughen worker safety laws and increase oil company liability for such accidents. [Read more] Source: al....

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Strong take-up for anti-piracy jets

Swedish company Scanjet reports an encouraging industry response for its anti-piracy solution, based on high pressure jets as used in the company’s tank cleaning systems. [Read More] Source: Motors...

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Hyundai Heavy Industries Sends Donation for Disaster Relief Efforts in Japan

Hyundai Heavy Industries group is giving ￥50 million via its Japanese branch office to the Japanese Red Cross for disaster relief efforts in Japan today. [Read more] Source: Offshore Energy To...

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Pipe-layer conversion for Brazil contract

Dutch company Alewijnse says that it is playing a major role in the conversion of the 8,250 dwt construction vessel ‘Agile’ into a deep-water pipe-laying ship. [Read More] Source: Motors...

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Sinopacific begins two newbuild projects

Yangzhou Dayang Shipyard, an affiliate of Sinopacific Shipbuilding Group, has started building two new vessels – a bulk carrier and an LPG tanker. [Read More] Source: Motors...

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Aker Solutions Enters Into an Agreement with Intergraph® Smart 3D Technology

Aker Solutions has entered into a contract with Intergraph using Intergraph's Smart 3D technology.  A multiyear contract, which includes SmartMarine® 3D, was signed in Oslo, Norway, this month with the first project deployment expected during the second half of 2011. "Intergraph's Smart 3D Technology...

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Kitanihon damaged seriously

Japan's Kitanihon Shipbuilding located in the city of Hachinohe, Aomori, is said to have been damaged by the latest devastating earthquake and tsunami. There is no personal injury found, but some ships under construction and its Kugi ship-block factory located...

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Norway: Statoil Secures Songa Delta Rig for Fast Track Development

Statoil has awarded Songa Offshore a contract for hire of the semi-submersible rig Songa Delta, for use in the fast-track portfolio on the Norwegian continental shelf (NCS). The contract value is approximately USD 400 million. [Read More] Source: Offshore Energy...

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Transocean sells second jackup rig in two months

Transocean Ltd (RIGN.VX: Quote) (RIG.N: Quote) , the world's largest offshore drilling contractor, has sold its second shallow-water rig in less than two months. [Read More] Source: Reut...

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Bharati Shipyard Delays Fundraising, New Units

Bharati Shipyard Ltd. has put on hold plans to build two manufacturing facilities, and delayed plans to raise $200 million to expand a partly owned units. The shipyards in eastern India, part of an equal joint venture with Apeejay Shipping Ltd., won't be built for the next two to three years due to...

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Finland: TTS Marine, STX Finland Together on Viking Line’s Passenger Ferry Project

TTS has further strengthened its position as a top supplier of access equipment for RoRo and cruise vessels with the agreement of a new contract with STX Finland Turku Shipyard for the new environmental friendly passenger ferry for Viking Line. [Read More] Source:...

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