Reliance Industries Limited and BP today announced a historic partnership between the two companies. Mr. Mukesh Ambani, Chairman and Managing Director of Reliance Industries Limited, and Mr. Robert Dudley, BP Group Chief Executive, signed the relationship framework and transactional agreements in London. The partnership across the full value chain comprises BP taking a 30 per cent stake in 23 oil and gas production sharing contracts that Reliance operates in India, including the producing KG D6 block, and the formation of a 50:50 joint venture between the two companies for the sourcing and marketing of gas in India. The joint venture will also endeavour to accelerate the creation of infrastructure for receiving, transporting and marketing of natural gas in India. The partnership will combine BP’s world-class deepwater exploration and development capabilities with Reliance’s project management and operations expertise. See related downloads for more images Mukesh Ambani said: “We are delighted to partner with BP, one of the largest energy majors and one of the finest deep water exploration companies in the world. This partnership combines the skills of both companies and will be focused on finding more hydrocarbons in the deep water blocks of India and significantly contribute to India’s energy security.” For BP, Reliance is a natural partner in India, given its strong position in the Indian market.
OSL Offshore Systems & Deck Machinery has formed a business alliance to manufacture and supply turnkey ballast systems for offshore drilling and production rigs. The alliance partners of OSL Offshore Systems, Rotork Controls, FloTec and W&O forms a comprehensive organization that services the offshore industry with each group's strengths as leaders for process valves and value automation, integrated PLC controls and hydraulic power.
Linde has formed a Global Alliance with Single Buoying Mooring Inc. (SBM) to develop and market Floating Production, Storage and Offloading units (FPSO) for the growing Liquid Natural Gas (LNG) industry, based on Linde's proprietary natural gas liquefaction technology. After having finalized a generic concept for a LNG FPSO with a yearly capacity off app.2.5 million metric tons of LNG, global marketing efforts will start as of today
Jones Walker today announced the expansion of its government relations practice with the addition of John S. Doyle, Jr., Vice President of Government Relations for Waterways Work!, as special counsel in the firm’s Washington, D.C. office. In making the announcement, R. Christian Johnsen, head of Jones Walker’s Washington office, said, “Mr. Doyle will continue to represent Waterways Work!, a client since 2001, and other Jones Walker clients in the areas of government relations with a
The member lines of the Grand Alliance, Hapag-Lloyd, MISC Berhad, NYK and OOCL, have decided to suspend their EU5 Service between Europe and Asia with immediate effect. The weekly service has been operated by eight vessels with an average capacity of 3,300 TEU. Ports of call have been Shanghai, Ningbo, Xiamen, Singapore, Amsterdam, Hamburg, Southampton, Singapore and back to Shanghai with a round voyage time of 56 days. The suspension is preliminary fixed until June 2009.
Norwegian tanker operator Iver Ships will join forces with Japan's Mitsui O.S.K Lines to form the second biggest clean tanker alliance in the Asia Pacific region. Iver said the two companies would merge their medium-range (MR) tanker fleets over the next six months to form a pool of 12 45,000 tonners. "Our customers -- the oil majors and petrochemical companies -- are globalizing to form bigger units, and they're looking to concentrate on a few service providers capable of doing a bigger part
J. Ray McDermott, Inc., a subsidiary of McDermott International, Inc., and Bay Ltd. have formed a strategic alliance to pursue fabrication projects in the offshore oil and gas industry, using McDermott's Harbor Island facility near Corpus Christi, Texas. Under the alliance, J. Ray McDermott will provide overall project management, engineering and procurement services, as well as the assembly areas, lifting equipment dredged slip and bulkhead at Harbor Island.
Shipping and logistics company Eimskip, Lithuania's Kursiu Linija and Finnish shipping and container company Container Finance Ltd have joined forces to create a door-to-door logistics providers. The new joint-venture company Containerships Group will be based in Helsinki and will operate eleven ships on services linking east and west Europe, the Baltic States and Russia. It will be the cornerstone of a much larger alliance including the services of its parent companies.
PTC (Nasdaq:PMTC), The Product Development Company, and Sener announced plans to strengthen their alliance to deliver an integration between Sener’s FORAN system and PTC’s Windchill PLM software. The integration will enable Sener’s shipbuilding customers to leverage Windchill’s enterprise PLM capabilities while managing FORAN CAD data within the same PLM platform ideally suited for complex, distributed, and large-scale product development.
Bhd, an electronics company, has diversified into the shipbuilding business by partnering Pong Leung Swee to set up and operate a shipyard on Carey Island, Selangor, Malaysia Setron said the alliance entails designing and building ships and similar vessels to primarily serve the oil and gas industry. "The company is confident that the demand for new crew boats and other support vessels for oil and gas industry in the region is promising.
OneSubsea™, a Cameron and Schlumberger company, Helix Energy Solutions Group, Inc. and Schlumberger today announced that they have entered into a letter of intent to form an alliance to develop technologies and deliver services to optimize the cost and efficiency of subsea well
A huge section of HMS Prince of Wales has arrived in Rosyth as the dockyard prepares for final assembly of the second Queen Elizabeth Class aircraft carrier, shipbuilder BAE systems announced. The 8,000-metric-ton hull section, known as Lower Block 03
Altair, a US-based engineering company, recently acquired EM Software & Systems - S.A., makers of FEKO® electromagnetic field analysis software. FEKO is now becoming part of Altair’s computer-aided engineering (CAE) suite HyperWorks®
Fighters of the Islamic State militia took control Sunday of the largest dam in Iraq, a reservoir of oil and three cities after breaking the biggest defeat the Kurdish forces since they began operations in the region in June. Capturing the Mosul dam after just 24 hours' offense could give
A huge section of hull for HMS Prince of Wales, the second aircraft carrier being delivered to the Royal Navy, has today departed BAE Systems in Glasgow on a 600-mile journey to Rosyth where final assembly of the ship will take place. The 8,000-metric-ton section, known as Lower Block 03
The formation of 2M is only the conclusion of the latest round of mega-alliance negotiations. Much more lies ahead, considers Drewry Maritime Research in their latest 'Container Insight' analysis, excerpted here: Ocean carriers are clearly not yet done with mega-alliance expansion following
Maersk and MSC have just announced a mega vessel sharing agreement that will replace their failed P3 alliance early next year. It will be smaller, and compare well in size with the G6 and CKYH alliances – but what about CMA CGM? Drewry Maritime Research consider the question in their latest
In a July 10, 2014 opinion article headlined, "Congress must move on the Highway Trust Fund," Caterpillar Chairman and CEO Doug Oberhelman outlined the risks to U.S. competitiveness if Washington's leaders can't fix short and long term infrastructure funding issues.
The Trident Alliance, a shipping industry initiative for enforcement of maritime sulphur regulations, has today been formally launched. The Trident Alliance is a coalition of shipowners and operators who share a common interest in robust enforcement of maritime sulphur regulation and are
As freight rates keep declining, cost reductions are the top priority for box carriers, according to Drewry's 2Q14 'Container Forecaster', highlighting that there is a widening gap between the positive financials of the few carriers really focused on cutting costs and the rest of the top 20 lines
China's increasing regulatory influence over international mergers and acquisitions has helped to create the hottest new commodity in its legal industry: anti-trust lawyers. Six years ago, China did not even have a legal system for regulating the impact of M&A on competition
As freight rates keep declining, cost reductions are the top priority for box carriers. Drewry’s 2Q14 Container Forecaster highlights that there is a widening gap between the positive financials of the few carriers really focused on cutting costs and the rest of the top 20 lines
The proposed container ship P3 alliance between the 255-ship fleets of Maersk, Mediterranean Shipping Company S.A. and CMA CGM was turned down by China's Anti-monopoly Bureau at the Ministry of Commerce, because the P3 alliance intended to set up a joint operations centre unlike other traditional
The North European ports of Rotterdam and Hamburg are experiencing significant congestion, an echo of the issues last seen around the world during the boom of the early/mid 2000s – before the global financial crash took over. The causes of the current congestion are numerous
Over the past three years, DELO Group, a Russian private transport company, has implemented an investment program, including rail and other adjacent port infrastructure, construction of stevedoring and inland storage terminals for oil products, construction of the KSK grain terminal