Following a nearly complete shutdown of the oil and gas business in the Gulf of Mexico in the wake of Hurricane Katrina, signs indicate a comeback is starting, slow but steady. According to a Reuters report, oil and gas operations recovered slowly on Wednesday, with oil companies struggling to contact all of their workers and assess damage to rigs. Refinery progress was slow but steady. Three of eight refineries that Katrina completely shut have returned either full or partially, including Marathon Petroleum Co. LLC's large 245,000 barrels per day (bpd) plant in Garyville, Louisiana. Offshore, oil and gas production has also been on the rise after Katrina shut nearly all output. Government figures as of Tuesday showed 58 percent of the Gulf's crude production and 41 percent of its gas production remained shut down. The U.S. Coast Guard has said a total of 56 Gulf offshore platforms have been lost or damaged. Reuters reported that natural gas production this year will drop by about 1.5 percent, according to the U.S. Energy Information Administration.
Oil and natural gas production from the storm-battered Gulf of Mexico continues to recover, Reuters reports. Around 727,000 barrels per day, or 48.47 percent of the Gulf's 1.5 million bpd of crude production, remained shut, along with 3.742 billion cubic feet per day, or 37.42 percent of the region's natural gas output, the report said. The complete recovery of the region's energy operations will take until the middle of 2006, about three months longer than previously estimated
Novak says Russian oil output to rise 0.6 pct in 2014; Natural gas production seen down 4 pct this year. Russia's oil exports are expected to fall by 4.3 percent this year, Energy Minister Alexander Novak said on Tuesday, citing preliminary data. He said oil exports will be 229 million tonnes (4.6 million barrels per day), while natural gas production will fall by 4 percent to 641 billion cubic metres (bcm) and exports by 6.7 percent to 183.3 bcm.
ODS-Petrodata, a provider of market intelligence for and about the offshore oil and gas industry, commercially launched FPSbase, a web-based tool providing data on the world's floating oil and gas production systems. FPSbase is designed to track all forms of floating production systems, including FPSOs, FSOs, TLPs, spar-shaped and semisubmersible units; and to deliver analysis of upcoming project tenders, available FPS supply, and current and future demand
According to Thomson Financial, the Indonesian government launched a tender for 26 oil-and-gas blocks to boost the country's oil and gas production. The oil and gas blocks that were offered today include the Bawean II, East Bawean I, Situbondo, and the North East Madura blocks onshore and offshore East Java province, as well as the South Barito (onshore and offshore) and Mahakam Hilir (onshore) blocks on Kalimantan island. [Source: Thomson Financial]
Norsk Hydro ASA has reduced its oil and gas production target for 2007 by 3.3 percent, to 585,000 barrels of oil equivalents per day (boed) from 605,000 boed, due in large to revised production forecast for several non-Hydro-operated fields on the Norwegian Continental Shelf, including Kvitebjørn, Kristin and Volve.
Chevron Corporation today announced that its Bangladesh subsidiary has commenced natural gas production from the Bibiyana Expansion Project in the northeastern part of the country. The project included an expansion of the existing gas plant to process increased natural gas volumes from the Bibiyana Field, additional development wells and an enhanced gas liquids recovery unit. The project is expected to boost Chevron-operated natural gas production capacity in Bangladesh by more than
Announcing its “All-of-the-Above” energy strategy today, the Obama Administration rightfully celebrates the United States’ new position as the largest global producer of energy but fails to acknowledge Federal actions that could bring even more resources to market., National Ocean Industries Association (NOIA) said today in a press announcement. “NOIA shares the President’s conviction that domestic energy production, whether from wind, oil or natural gas
The Minerals Management Service (MMS) announced production of offshore oil and gas in the deepwater (greater than 1,000 ft deep) portion of the Gulf of Mexico (GOM) reached an all-time high in 1998 and continues to escalate rapidly. Production of oil from the deep water has risen 279 percent in the last five years, and deep water gas production rose 252 percent. According to MMS Director Walt Rosenbusch, "The 1998 increase is significant and of national importance
Northern Offshore Ltd., a Bermuda holding company which operates offshore oil and gas production and drilling vessels, said that the company's drillship Energy Searcher has resumed operations in under its drilling contract with Vietgazprom, according to a report on Trading Markets.com This follows repair work on the drillship, carried out in at an estimated cost of some $4.6m. (Source: Trading Markets.com)
Gulf Marine Services the provider of advanced self-propelled self-elevating support vessels (SESVs) serving the offshore oil, gas and renewable energy sectors, informed that the newly-built GMS Scirocco has been completed ahead of schedule and under budget and has been awarded its first
Qatar has retained the crown of the biggest exporters of natural gas and the biggest exporter of liquid gas or LNG in the world, reports The Peninsula. The country exported nearly 77 million tonnes (MT) of Liquefied Natural Gas (LNG) in 2014 which was approximately one-third of
Offshore contractor Subsea 7 has been awarded a $150 million subsea, umbilical, riser and flowline (SURF) contract by Maersk Oil for the development of the Culzean field in the UK North Sea. The ultra-high pressure, high temperature field
A U.S. government sale of oil and gas drilling leases in the western Gulf of Mexico attracted the lowest number of bids on record on Wednesday as slumping oil prices kept producers from plowing money into expensive offshore prospects.
Classification society ClassNK has opened a new exclusive survey office in Brunei with operations beginning today. Brunei is located in Borneo which faces the South China Sea. Together with its neighboring Malaysia, Brunei is a key port on the maritime transportation route due to its
National Ocean Industries Association (NOIA) president Randall Luthi today voiced his support for the U.S. Department of Interior’s (DOI) Western Gulf of Mexico Lease Sale scheduled for next week. “The call to delay next week’s Department of the Interior Western Gulf of
ACO Marine announced it has signed a contract to supply a bespoke version of its new Clarimar MF wastewater treatment plant to the CFT 623 wellhead platform under construction for Dubai’s Dragon Oil. The specially adapted Clarimar MF-2 has capacity to treat 3
Royal Dutch Shell's plans to build a strategic alliance with Russia's Gazprom could be in jeopardy after the United States added one of Gazprom's biggest gas fields to its list of Russian sanctions on Friday. Shell and Gazprom signed an agreement in June to develop a strategic alliance in
Russia, led by President Vladimir Putin, has re-submitted its petition to the United Nations claiming exclusive control over 1.2 million square kms (463,000 square miles) of the Arctic sea shelf, based this time on what its foreign ministry calls “ample scientific data”
NOIA President Randall Luthi issued the following statement on the Senate Energy and Natural Resources Committee’s passage of the OPENS Act, which will open new areas of the OCS to energy exploration and development, extend revenue sharing to participating coastal states
National Ocean Industries Association (NOIA) president Randall Luthi issued a statement congratulating “steel in the water” for Deep Water Wind’s Block Island Wind Farm, stating an all-of-the-above strategy combining offshore wind with offshore oil and gas off the U.S
Seabed Geosolutions will soon mobilise for the variation order that was signed today by Abu Dhabi National Oil Company (ADNOC) with CGG to conduct a shallow water seabed survey. The survey is over the Ghasha-Butini field, will take around 12 months and has a value of around USD 125
India's new LNG import terminals will face major challenges due to price sensitive demand, ICRA said in its latest update on gas utilities sector. "Crowding of regasification terminals could put pressure on utilization levels
IRClass Academy of the Indian Register of Shipping (IRS) signed a Memorandum of Understanding last month with Lloyd’s Maritime Academy (LMA) and IBC Academy (IBCA) that are part of Informa PLC in the UK. The objective of this collaboration is to deliver customised training solutions
Natural gas supply and trading company Litgas, part of Lithuania's state owned energy holding Lietuvos Energija, and Statoil, leading global energy company in oil and gas production, signed a memorandum of understanding (MoU) on July 2nd in Vilnius