Transpetro, a unit of Brazil's state-run oil firm Petroleo Brasileiro SA, signed contracts worth $866m for the construction of nine new oil tankers. The Rio Naval consortium will build five Aframax tankers for $517m, and four Panamax oil tankers for $349 million , Petrobras said. The vessels are to join Transpetro's fleet between 2009 and 2011, and are part of a $2.48b program to buy 26 new oil vessels in an initial phase. The first phase will create 11,000 direct jobs in Rio de Janeiro state alone, Petrobras said. The shipbuilding program is financed by Brazil's National Development Bank and aims to bring down Petrobras' costs for chartering ships and to revitalize Brazil's once-flourishing shipbuilding industry. Petrobras said it plans later to raise the number of new oil vessels to 42. Source: AP
M.Sc. (Econ.) Petri Pentti has been appointed CFO of Fortum's Oil Sector and of the new oil company to be listed on the Helsinki Exchanges. He assumes his new position in August 2004 and will be responsible for the whole economic function, including treasury and investor relations. He will report to Mr Risto Rinne, President of the Oil Sector. Petri Pentti is currently Senior Vice President and CFO of Finnair Oyj.
Libya Wednesday took delivery of three new oil tankers at its port hosting the Refining Company in Zaouia, as part of ceremonies marking the 37th anniversary of the country`s September 1969 Revolution. Baghdadi Mahmoudi, Secretary of the Libyan People`s General Committee took delivery of the three tankers - Ibn Batouta, Gardhabia and Intissar - new additions to the Libyan Maritime Transport Company`s fleet. The tankers built in South Korea by Samaho Hundai
A chronic shortage of rigs and workers has doubled the cost of producing oil and gas in the North Sea, threatening to make the UK’s domestic oil industry uncompetitive, warned UKOOA, the association of North Sea offshore operators, according to Times Online. Signs that costs are crimping investment emerge in the association’s survey of North Sea activity. Further evidence of the dramatic worldwide oil industry cost escalation emerged in a new index showing a 53 per cent increase in
According to a June 1 report from the Los Angeles Times, the State Lands Commission lashed out at Gov. Arnold Schwarzenegger's attempt to reverse its rejection of the first new oil drilling in California waters since 1969. At a contentious hearing in Santa Monica, the commission passed a resolution urging legislators not to go along with Schwarzenegger's plan, which would revive a drilling project off the Santa Barbara County coast that the commission killed in January.
Statoil has together with PL169 partners proved new oil resources in the D-structure in the vicinity of the Grane field in the North Sea. Well 25/8-18 S, drilled by the rig Transocean Leader, proved an oil column of 25 m in the Heimdal Formation. The estimated volume of the discovery is in the range of 30-80 million barrels of recoverable oil. "We are pleased with having proved new oil resources in the Grane area," said May-Liss Hauknes
Kvichak Marine Industries recently delivered two all-aluminum 32 ft. oil service vessels to Foss Environmental Vessel Services, of Seattle. With one boat stationed in Seattle and one in San Diego, the Foss vessels are available for hire to perform environmentally safe vessel-to-vessel lube and cleaning, directly at the moorage site of the customer. The main customer focus is privately owned yachts and light commercial vessels
China National Offshore Oil Corp. will set up a joint venture to make pipelines along with a local private company. The move represents CNOOC Ltd.'s first foray into the petroleum pipeline manufacturing business. It is expected to help meet its rising demand for pipelines following acquisitions of overseas oil and gas assets. The joint venture will have a pipeline output capacity of 300,000 tons a year. CNOOC has started operations at a new oil field in Bohai Bay off the coast of
According to reports, the Coast Guard has issued new rules governing the transportation of oil through Buzzards Bay that require single-hulled tankers and oil barges to be escorted by a second tugboat. The rules are designed to reduce the likelihood of a spill and apply to vessels carrying 5,000 or more barrels of oil. They also require the primary tugboat to have a federally licensed pilot on board, independent of the master and crew.
Konecranes contracted to supply a Goliath gantry crane to Kvaerner in Norway The Goliath gantry crane will be in operation at Kvaerner’s facilities at Stord on November 2013. The parties have agreed not to disclose the value of the order. The ordered Goliath gantry crane will more than double the lifting capacity, from 350 to 800 tons. The span will be 153 meters and the height 115 meters. With the new Goliath crane Kvaerner will be able to conduct two topside projects in parallel
Oil, gas and iron ore imports resume after disruptions; Strategic oil reserves in the region not affected. Many operations have resumed at China's Tianjin port, trade sources said, after explosions last week that killed more than 100 people and disrupted business at what is an important oil
The Brazilian government plans to hold a new oil bidding round for areas in the subsalt polygon by 2017, the secretary of oil and gas at the Mines and Energy Ministry, Marco Antonio Almeida, said on Monday. Almeida denied during a presentation in Rio that the current corruption scandal
When she came into the Fred Wahl shipyard in Reedsport, Oregon, the Miss Berdie was a fine looking boat with a bright red hull. When she left the yard this summer she was still a fine looking red vessel but bigger and better. After taking the 77 by 27.8 by 11
Western Canada Marine Response Corporation (WCMRC) launched their newest oil spill response vessel in Burrard Inlet. The boat, named after former employee George Penman, was christened at a private ceremony in Coal Harbour. The $4.5 million G.M
William Cho, Head of MatthewsDaniel Weather, a division of the Bureau Veritas Group, explains why improvements in drilling technologies and weather monitoring systems have made offshore shelf drilling operations in the Arctic Circle increasingly attractive to upstream oil and gas companies and
Statoil has chosen Maritime Communications Partner (MCP) to deploy and operate its high speed 4G-network on the Norwegian Continental Shelf (NCS). Statoil and MCP have signed a six-year contract with an option to extend for another four years
Petrobras’ Exploration and Production Director, Solange Guedes, received the OTC Distinguished Achievement Award for Companies, Organizations and Institutions, the highest recognition that an oil company can be given as an offshore operator
The presidents of Ivory Coast and Ghana held talks in Geneva on Monday on a maritime border dispute that has frozen new oil drilling in a contested area, a spokesman for mediator Kofi Annan said. An international tribunal ruled last month that Ghana could continue developing a $4
The presidents of Ivory Coast and Ghana reached a deal on Monday in talks on a maritime border dispute that had frozen new oil drilling in a contested area, mediator Kofi Annan told Reuters. "We have a deal," the former U.N. secretary general told Reuters
Maersk Drilling delivered a profit of USD 168m (USD 116m) in the first quarter of 2015. The result was positively impacted by fleet growth and continued good operational performance, but partly offset by two rigs being idle. The underlying profit for the quarter was USD 195m (USD 109m)
AAL, one of the world’s leading global breakbulk, project cargo and heavy lift shipping operators, has strengthened its foothold in the oil rich mining region of Northern Alberta, by expanding its popular ‘Pacific Service’ liner route to include the British Columbia Port
Billionaire investor Warren Buffett is set to be a chief beneficiary of a bid by Senate Republicans to weaken new regulations to improve train safety in the $2.8 billion crude-by-rail industry, a key cog in the development of the vast North American shale oil fields.
A small group of protesters and activists are gathering at the Cathedral Park boat ramp in Portland, preparing to stay for a 24-hour vigil as they wait for Royal Dutch Shell Oil's icebreaker ship, the MSV Fennica, to depart from Portland for the Arctic, reports Reuters.
Statoil has awarded Harding a contract for delivery of the nine free-fall lifeboats needed for the first phase of the Johan Sverdrup North Sea development. The contract comprises nine FF1200- lifeboats, with nine corresponding LA 1200 SU davits
A new report released today by Oil Change International and Greenpeace USA details a clear case against drilling for oil in the Arctic ocean based on climate science imperatives. The report, “Untouchable: The Climate Case Against Arctic Drilling,” shows U.S