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Gas Offshore

OSV Sector Wary of Overcrowding

The offshore support vessel (OSV) segment – over-capacity driving down utlilization and charter rates THE offshore support vessel (OSV) segment - touted as the bright spot where other traditional shipping markets are suffering - may entice tanker and bulk-carrier operators to jump ship, according to a recent Singapore Business Times article. However, OSV operators and owners are wary of such a crossover, and warn that if the sector gets more crowded, it may derail a recovery in charter rates that is expected to come about in two to three years' time. There are about 3,000 OSVs that support oil and gas offshore exploration - a sliver of the 70,000 merchant ships - but it is a sector that gained attention at a time when oil companies are expected to spend about US$600 billion in exploration and production activities. It is in an overcapacity situation, which has driven utilisation rates and charter rates down in the past years.


Statoil Finds More Gas Offshore Tanzania

Statoils Tanzania Operations (image courtesy Statoil)

Norway's Statoil has found more gas offshore Tanzania, increasing its total for an eventual investment decision on a liquefaction plant with Britain's BG Group, which operates neighboring exploration blocks, it said on Tuesday. Statoil found another 1.2 trillion cubic feet of gas in its block, taking its total volume in-place to 21 trillion cubic feet, or about 3.8 billion barrels of oil equivalents. BG has also found about 15 trillion cubic feet of gross resources in nearby blocks.


Kværner Deliver Strong Q1 2014 Results

Topside construction: Image credit Kværner

Leading contractor for deliveries of complete upstream oil & gas offshore platforms and onshore plants, Norway's Kværner ASA, reports  operating revenues for the first quarter of 2014 wer NOK 3,489-million which is an increase of 31 percent compared to NOK 2 663 million in first quarter in 2013. The high activity and good utilisation of resources continued in first quarter 2014. The order intake in the first quarter of NOK 1


Europort Advanced Technology Conferences

Europort-subbrands-horizontal-red_website.jpg

Shipping’s need to squeeze maximum value out of available assets is finding sharp focus, as the global maritime and offshore industries gather at Europort 2013, Rotterdam (Ahoy Rotterdam, November 5-8). In line with its stated aim to showcase Pioneers in Maritime Technology, Europort has tapped into the maritime industry’s state-of-the-art for 2013. Its Advanced Technology Conferences (ATC), organized by Ahoy in close collaboration with HME


Wärtsilä 2012 Profits Stay Healthy

Björn Rosengren President & CEO of Wärtsilä delivers his year 2012 financial results message to shareholders. Extracts from the message follow: "During 2012, we closed our largest ever acquisition with the purchase of Hamworthy. This acquisition supports our growth strategy in the marine gas, offshore and environmental solutions markets, and Hamworthy has performed well while being integrated to our Ship Power business.


Product Tanker Hijackings

Fig. 1: 	Valle Di Cordoba is generally held to be the first victim of a successful attack against a  	product tanker with the intent to steal the cargo in the Gulf of Guinea in recent years.

Understanding Trends & Tendencies in the Gulf of Guinea Gulf of Guinea piracy presents a radically different picture compared with Somali piracy. Since decades it has been a kaleidoscopic mix of short duration hijackings, militant disruptions, kidnappings, robberies and thefts, depending on the location and the setting. It was not until recently, however, that piracy in the region attracted significant international media attention due to the increase in hijackings of product tankers in


ExxonMobil Announces Completion of $2-Billion Sable Gas Project

Exxon Mobil Corporation announced the completion of the $2-billion Sable Offshore Energy Project off the coast of Nova Scotia, Canada, with the delivery of the first sales gas into the Maritimes & Northeast Pipeline. The project consists of three offshore platforms, a 125-mile subsea pipeline, natural gas-processing and fractionation plants and a 650-mile gas sales pipeline to New England, and is consistent with ExxonMobil's strategy of increasing gas and liquids production and expanding


Russia Relying on Offshore for Future Production

Sakhalin Island currently is the oil and gas growth engine for Russia, which will rely on offshore regions for new production after 2010, the Oil & Gas Journal reported. By 2020, offshore fields could account for 20% of Russia's total oil and gas output. However, Russia must implement regulations and taxes before its offshore oil and gas assets can be developed since offshore royalty issues remain largely unaddressed


Bill Allowing Offshore Drilling Introduced in Congress

An effort to open Virginia's coast to offshore drilling gained new momentum in Congress when Virginia's senators introduced legislation giving states the option to drill for natural gas. The bill would give governors of coastal states the power to opt out of a federal moratorium that prohibits offshore drilling in most U.S. coastal waters. The new legislation comes one week after the Bush administration signaled its support for such proposals by calling for a study of potential gas and oil


US Gulf Offshore Energy Tap Being Turned On Again

BSEE Hurricane Response Team monitors offshore oil & gas operators' activities in Gulf of Mexico, post TS 'Isaac'. From operator reports, it is estimated that approximately 71.50 percent of the current daily oil production in the Gulf of Mexico has been shut-in. It is also estimated that approximately 55.62 percent of the current daily natural gas production in the Gulf of Mexico has been shut-in. The Bureau of Safety and Environmental Enforcement (BSEE) Hurricane Response Team


LTE Deployment Launched in the Gulf of Mexico

Industrial LTE wireless broadband services provider Infrastructure Networks, Inc. (INET) is deploying a pilot LTE system in the Gulf of Mexico.   INET said its pilot deployment will be used to demonstrate the capabilities of industrial LTE wireless broadband service and coverage when


Liebherr Reports Record Year for Offshore Cranes

Four Liebherr BOS 4200-85s Litronic at the drill ship Platinum Explorer / Vantage Drilling. (Photo courtesy of Liebherr)

With 87 units delivered in 2014, Liebherr offshore cranes achieved a new per year delivery record, more than doubling its delivery numbers from 2012. And according to Liebherr, well filled order books allow for an optimistic 2015 forecast despite a generally unstable world economic development.


1st lifejacket for Working at heights

A new Rope Access Jacket and enhanced Launch and Recovery Service are the latest developments from Survitec

  The first lifejacket custom-designed specifically for offshore personnel carrying out rope access or work at height has been developed by Survitec Group, the leading provider of survival and safety equipment to the offshore industry.


ClassNK Updates Guidelines for Floating Offshore Facilities

Photo: Excelerate Energy

ClassNK released a new version of its Guidelines for Floating Offshore Facilities for LNG/LPG Production, Storage, Offloading and Regasification.   Available on the ClassNK website, this second edition is an update to the initial guidelines released in February 2011 which aims to provide


Lithuania Looks to U.S. for Gas

Lithuanian liquefied natural gas (LNG) importer Litgas has signed a preliminary agreement with a U.S. supplier, looking to lessen the Baltic nation's dependence on Russia. Litgas said on Friday it had signed a memorandum of understanding (MOU) with Delfin LNG


Van Oord, Falck Ink Safety Training Deal

From left to right: Tjerk Suurenbroek, Commercial Director Falck Safety Services; and John Knoesten, Director Personnel & Organization Van Oord (Photo courtesy of Falck Safety Services)

Van Oord has signed a two year contract with Falck Safety Services for the provision of safety training.   Van Oord, a contractor for dredging, marine engineering and offshore energy projects, including oil, gas and wind, said it has invested in a trainee program for its employees for many


Atlantic Gas Swings Keep LNG Traders Guessing

MILAN, Feb 26 (Reuters) - Atlantic natural gas markets are seeing some of the biggest price swings in years as volatile European trade, freezing U.S. weather and Brazilian demand leave tankers torn over where to sail. The region's gas markets


Milaha Reports 32.8% Q4 Net Profit Increase

     Photo courtesy of Milaha

Qatar Navigation (Milaha) Q.S.C. increased fourth quarter net profit 32.8 percent, the company announced today in its 2014 financial results.  It will pay a 55% cash dividend for 2014, a value of 5.5 Qatari Rials ($1.51) per share. The company said it increased its net profit 10% in 2014


Latvia's Gas Utility Sales Volumes Fall in 2014

Latvia's gas utility Latvijas Gaze sold 10.9 percent less natural gas imported from Russia in 2014 than a year before, the company said on Wednesday.   Sales fell to 1.3 billion cubic metres (bcm) due to warmer weather and as more gas was switched for woodchips for heating


Russia to Stop Gas to Ukraine Absent Prepayments

The CEO of Russian gas company Gazprom said on Wednesday Russia would stop exporting natural gas to Ukraine unless it received prepayment from Kiev for energy supplies, Interfax reported. Gazprom also said that Ukraine had approximately three days left of prepaid gas deliveries from Russia


LNG Destination Clauses May End: IGU

Destination clauses on contracts for liquefied natural gas (LNG)shipments will soon be a thing of the past because of the shale revolution in the United States, the head of the International Gas Union said in an interview. Japan and other buyers of LNG have long complained that the destination


Southern France Gas Trading Hubs to Merge

The two gas trading hubs in the south of France will merge on April 1, power trading group Powernext said on Tuesday, marking a first step towards a unified French gas platform aimed at preventing the large price swings currently seen in the market.  


Petronas, HHI Novation Agreement with MISC

LNG Ship Puteri Firus (Image by MISC Bhd )

 Malaysia’s MISC Bhd and parent Petroliam Nasional Bhd (Petronas) have agreed to build new liquefied natural gas (LNG) carriers worth US$1.1 billion and charter them to another unit owned by the national oil and gas company for up to 20 years.   


Wikborg Rein & Co: Oil Prices Won't Impact Dual-Fuel LNG Carriers

   Joe McGladdery (Photo courtesy of Wikborg Rein & Co)

Joe McGladdery, a partner with the London law offices of Wikborg Rein & Co, says that, while falling oil prices have exerted pressure on the LNG charter markets, the new generation of low-speed, dual-fuel LNG carriers now in service and on order remain an attractive option for owners and


NOIA: Don’t Freeze US Opportunity with Arctic Regulations

National Ocean Industries Association (NOIA) President Randall Luthi issued a statement in response to the Obama Administration’s proposed Arctic Regulations on offshore oil and gas production, stating the U.S. must take steps to become a leader in Arctic Energy.  






 
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