Marine link
 

Big Oil

World's Biggest Oil Platform May Sink

The world's biggest oil platform, owned by Brazil's state oil giant Petrobras, may sink, sending the death toll to 10 after two powerful explosions rocked the rig earlier Thursday, Petrobras president said. Petrobras President Henri Philippe Reichstul also said the nine workers missing since the blasts have little chance of survival, which would bring the death toll to 10. "The platform is listing 30 degrees and could sink," Reichstul told a press conference in Macae, Rio de Janeiro in a statement reported by Petrobras press department. Early Thursday morning, two powerful blasts rocked the rig, which stood 40 storeys high some 78 miles (125 km) off the coast of Rio de Janeiro state in the Roncador oil field in the Campos Basin, which produces most of Brazil's oil. The platform has capacity to produce 180,000 barrels of crude per day, though it was so far only pumping out about 80,000 barrels per day, or 5 percent of Brazil's total. - (Reuters)


ONGC to Finalize Shipbuilding Contract

According to a June 25 report on livemint.com, India’s biggest oil exploration company, the state-owned Oil and Natural Gas Corp. Ltd (ONGC), is expected to name within a week the winner of a tender to build 12 ships that will support its oil drilling operations. It was reported that Pipavav Shipyard Ltd, India’s newest private sector shipbuilder, has submitted the lowest bid. However, the winner will not be named ahead of a formal announcement by ONGC.


A.P. Moeller Profits Fly Orange

A.P. Moeller, operator of the world's leading container line and a big oil producer, posted sharply higher first-half profits on Thursday and said full year profits would improve considerably on 1999. Consolidated operating profit before depreciation rose 54 percent to $910 million and net profit surged 92 percent to 2.63 billion crowns. The results were slightly below forecasts in a Reuters poll of analysts. Moeller's shares -- up some 28 percent in the past four weeks for a 2001 earnings


Single-Hull Tanker Traffic to Saudi Ports Dwindles

A Dec. 25, 2009 report from Gulf News, said the number of single-hull supertankers bound for Saudi Arabia, the world's biggest oil-producer, fell 50 percent over the past month, according to ship-tracking data compiled by Bloomberg. Trading of single-hull tankers will become more restricted next year under International Maritime Organization regulations. The vessels will require inspections to prove their seaworthiness. (Source: www.gulfnews.com)


Petrobras Sends 20 Ships To Monitor Oil Spill

Petrobras moved about 200 men and 20 ships to monitor oil spilled offshore after the world's biggest rig was rocked by blasts and sank earlier this month. On March 15, three blasts ripped through Petrobras' 40-storey platform, the world's biggest oil rig, killing 11 and spilling about 11,000 gallons of diesel oil. Petrobras has mobilized 11,000 m of retaining barriers, 21 oil collecting units, 18 suction pumps and 40


Royal Dutch/Shell Workers Held Hostage In Nigeria

It was reported that militant youths in Nigeria's Niger Delta are holding 12 Royal Dutch/Shell workers hostage, to press for compensation for an oil spill in their area. Shell officials in Lagos said they were not aware of the kidnapping, which the youths said was to forced the oil company pay $1.5 million compensation for a 1989 oil spillage. Sources said the oil workers, mainly Nigerians, were seized by youths from Arhavwarien community in Ugheli South Local Council in southern Delta


MISC Proposes $973m Deal for Ramunia

MISChas proposed a $973m deal to merge its shipbuilding business with Ramunia Holdings, an oil services company. The merger would expand MISC’s plans to create a regional business building oil rigs to compete against neighbouring Singapore, which is the world’s largest producer of offshore energy platforms. The deal would be a reverse takeover that could allow MISC to list its Malaysia Marine and Heavy Engineering unit under the Ramunia name in hopes of copying the success of Keppel Corp


Exxon Mobil Plans to Drill Wells in Indonesia

Exxon Mobil plans to drill three exploratory wells in an Indonesian offshore oil block over the next three years, a company official said on Wednesday. Exxon Mobil signed an oil contract with the Indonesian government last month 2,062 sq mile of the offshore Surumana block in the Makassar Straits. The government had said that in the case of Surumana, any oil find would be split 65:35 percent between government and contractor. Meanwhile, any gas find would be split 60:40 percent.


Shell Aims to Develop Arctic Oil Field

One of the world's biggest oil companies believes Arctic waters, including those north of Alaska, hold huge promise as an oil and gas frontier, according to a Petroleum News report. Facing depletion of its regular oil sources, Shell views the Arctic as a very tantalizing opportunity to develop new oil and gas resources. The company's views tend to support studies by academics and agencies that Arctic basins contain about 25 percent of the world's remaining undiscovered resources


Saudi Aramco To Turn Back Some Tankers

Saudi Arabia's state oil company has informed shipping agents at the Gulf state's ports that it will turn back tankers that are not prepared for the Y2K potential computer glitch, an industry source said. Experts on Gulf oil industries say Saudi Arabia -- the world's biggest oil producer -- is the best prepared in the Gulf for Y2K. Saudi Aramco is requiring ship captains to fill out questionnaires to determine if their vessel is Y2K compliant, the industry source said


Big Tankers' Need for Retrofit Slows Use of New Panama Canal

Photo: Panama Canal Authority

The promise that some oil traders and brokers saw for an expanded Panama Canal to become a new route for large tankers will take longer to realize than expected because many ships must first undergo inconvenient retrofits to transit through the new locks, shipping industry experts said.  


Oil Extends Rally on Possible Producer Action

Oil prices were up about 1 percent on Friday, on track for their biggest weekly gains since May, after a short covering rally was triggered by comments from Saudi Arabia's oil minister in the previous session about possible action to help stabilize the market.  


US Oil Drillers Add Rigs for 5th Week in 6

U.S. drillers this week added oil rigs for a fifth week in six, according to a closely followed report Friday, prompting analysts to predict the rig count has bottomed and production will start to edge up early next year.   Drillers added 10 oil rigs in the week to July 8


US Oil Drillers Add Rigs for 4th Week in 5

U.S. drillers this week added oil rigs for a fourth week in five, according to a closely followed report Friday, in the best month of producers returning to the well pad since August that signaled a near-two year rout in drilling may have ended.  


China's Robust Crude Oil Imports Mask Changing Fuel Dynamics

China is a bigger concern for crude oil and products markets than the current worries about the British vote to leave the European Union.   While the news media continues its relentless focus on Brexit, there is mounting evidence of a shift in the dynamics of China's crude and fuel markets


Three French Oil Refineries Prepare for Restart, Oil Ports Still Shut

Preliminary work got underway on Monday to restart three of Total's French oil refineries stopped as part of nationwide strikes against planned changes to employment laws, but workers were still on strike at the country's two main oil ports.  


Greece to Evaluate Deep-sea O&G Exploration Bids

Greece will conclude the evaluation of deep-sea oil and gas exploration bids in the coming weeks and will name the preferred bidders soon after, its energy minister said on Friday, as the country seeks to tap into its limited oil reserves.  


Oil-hungry Bacteria Could Clean Up Next Big Oil Spill

Deepwater Horizon - “Oil….contains thousands of different types of hydrocarbon chemicals, many of which are toxic and difficult to break down. But some of these bacteria can.” Dr Tony Gutierrez Photo Heriot-Watt University.

Heriot-Watt scientists have cracked the genetic code of the marine bacteria which helped ‘eat’ the oil spilled in the Deepwater Horizon disaster, information which could aid clean-up efforts for any future major spill. Dr Tony Gutierrez


Egypt to receive first LNG shipment from Rosneft in May

Egypt will receive the first of five agreed shipments of liquefied natural gas (LNG) from Russia's Rosneft this month, an official at the state gas board EGAS told Reuters on Thursday. Last year Egypt and Rosneft signed a memorandum of understanding for a slew of petroleum products as well as


Six Years after BP Spill, US Sets New Offshore Oil Safety Rules

Gas from the damaged Deepwater Horizon wellhead is burned by the drillship Discoverer Enterprise in May 2010, in a process known as flaring. (U.S. Coast Guard photo by Patrick Kelley)

The Obama administration on Thursday unveiled new oil well control rules to prevent the kind of blowout that happened six years ago on a BP Plc rig in the Gulf of Mexico.   The Interior Department's Bureau of Safety and Environmental Enforcement announced the finalized regulations


Boskalis to Transport Johan Sverdrup Platform Modules

Johan Sverdrup Photo Statoil

Royal Boskalis Westminster N.V. (Boskalis) has been awarded a contract by Samsung Heavy Industries for the transportation of the three topside modules of the riser platform and the topside of the processing platform for the Johan Sverdrup project offshore Norway


VLCC Segment Shows Modest Growth

Graph:  Poten & Partners.

 In the Very Large Crude Carriers (VLCC) segment, which showed modest growth in overall volume from 2014 to 2015, the main changes were concentrated in the eastern hemisphere, says a report by Tanker Research & Consulting department at Poten & Partners.  


Indian Firms Plan to Sign Oil Deals with Rosneft

India plans to sign energy deals with Russian oil major Rosneft next week to buy stakes in Siberian fields, two sources privy to the deal said, as New Delhi accelerates a push to secure overseas energy assets.   India, the world's third biggest oil importer


Iran Hopes to Raise March Oil Exports

Iran, OPEC's No. 3 producer, is expected to raise its oil exports in March to around 1.65 million barrels per day from 1.5 million bpd a month earlier on the back of higher crude shipments to Europe, two industry sources told Reuters on Thursday.  


Saudi's Rule Out Production Cuts, Oil Drops 4%

Oil prices fell 4 percent on Tuesday after Saudi Oil Minister Ali Al-Naimi ruled out any production cuts, restating the kingdom's rationale for maintaining output was that demand would pick up excess crude that has crushed prices over the past 20 months.  






 
rss feeds | archive | privacy | history | articles | contributors | top news | contact us | about us | copyright