Protesters demanding jobs closed off the eastern Libyan port of Zueitina for a sixth day, extending a halt in oil exports, according to a senior oil industry source and to one of the demonstrators, as cited by Reuters. Roughly a dozen men last Tuesday evening forced their way into the port, just hours after Zueitina Oil Company workers had temporarily suspended a strike and resumed production at oilfields that pump to the terminal. Zueitina Oil Company pumps between 60,000 and 70,000 barrels but its terminal has the capacity to handle about 20 per cent of Libya’s crude oil exports. Protests and strikes at various facilities have repeatedly lowered Libya’s oil output, which had returned faster than expected to pre-war levels of around 1.6 million barrels per day, adds Reuters. Source: Reuters
Iraqi crude oil exports were flowing again at the Turkish port of Ceyhan, where the second vessel this year was finishing lifting and three new cargoes were expected to turn up soon, industry sources said. The sources said the Marina M, which recently replaced the earlier chartered Seadancer, has just about finished lifting one million barrels of Kirkuk crude and the two million barrel Amazon Falcon is already berthed and waiting
Lehman on Monday started coverage of oil tanker charterer Maritime with a strong buy rating and a 12-month price target of $25. "We expect charter hire rates to remain firm and recover through the remainder of the year as oil production volumes from Iraq and OPEC increase requiring transportation service," said a research note. Iraq, which in June cut oil exports to protest the U.N. administered oil-for-food program put into place after the invasion of Kuwait in 1990
There is no chance of the United Nations turning a blind eye to any oil companies that pay a surcharge that Iraq is continuing to demand for its oil exports, United Nations diplomats said. "No way are we going to be turning a blind eye to this," one diplomat said when asked if the United Nations could overlook such payments."Industry sources said that Iraq is insisting that customers for its crude under the United Nations oil-for-food program pay a 40 cents per barrel surcharge direct to an
A grounded Norwegian oil tanker carrying 450,000 barrels of crude oil was re-floated near the Venezuelan coast and left for the U.S. Tuesday night, authorities said. The SKS Tagus, bound for the U.S. port of Delaware, reportedly ran aground on in the Maracaibo shipping channel in western Venezuela after a problem with the steering, Reuters reported. "She was successfully re-floated and left last night," a shipping source said
The Russian Register of Shipping's seminar on Maritime Safety and Security in St. Petersburg this week attracted an array of international speakers, including INTERTANKO MD Peter Swift. The seminar was opened by the Russian Minister of Transport, Sergei Frank, who was joined by IMO Secretary General elect, Thimio Mitropoulos; USCG Assistant Commandant, Tom Gilmour; IMO MEPC Chairman, Andreas Chrysostomou; EC Director of Maritime Transport, Fotis
Friday's dirty tanker fixture lists revealed the full extent of this week's blood-bath on VLCC trades from the Mideast Gulf. Rates collapsed by 15 percent overnight on Wednesday as shipowners scrambled to book voyages out of the Gulf before September 1 when OPEC cuts are expected to hit tanker demand, brokers said. Exxon mobil fixed the Starlight Jewel for a 275,000 ton cargo to Singapore loading July 24 at W43.5 (about $0
A Nigerian oil worker was killed and another injured on Tuesday in an armed attack on a supply ship operated by a U Edison Chouest Offshore, Reuters reported. "Armed men came alongside the vessel at 0300 hours (O200 GMT) and got on board to look for things to take. They executed one of the crew when they didn't find anything," an unnamed source told the news agency. The supply ship was operated by Edison Chouest Offshore, a Louisiana-based oil services company, a security source said
Norwegian union members went back to work Tuesday, ending a six-day strike that hit everything from oil exports to hotels in the nation's most serious labor dispute since the 1980s. The strike ended after employers raised a 2000 pay offer to 4.6 percent from 3.5-4, averting a threatened escalation of the stoppages to 102,000 workers from 86,000. An expansion would have made it the biggest labor conflict in 70 years.
World seaborne trade rebounded in 2002 to 5.89 billion tons, exceeding the previous record set in 2000, reports UNCTAD´s Review of Maritime Transport 2003, released recently. The recovery in seaborne trade reflects the improved growth in world output and is expected to continue this year, amidst concern about the increased costs involved in implementing tougher security measures. The measures, which are being taken by the United States and by the International Maritime Organization (IMO)
Wärtsilä is to supply inert gas systems for a Floating Storage Unit (FSU) on Norway's Heidrun offshore oil & gas field, and for two supporting shuttle tankers. The FSU is owned by Statoil, the Norwegian state owned energy company, and the tankers by AET Tanker Holdings
With Western Sanctions increasingly tightening on Iran, the country has taken delivery of several new oil tankers as it must rely on its own fleet capacity to help sustain crude export shipments, Reuters reported. Sanctions by the U.S. and Europe have severely reduced Iran’s oil Exports
Petrobras’ P-55 Floating Production Unit (FPU), the largest and the first of this kind entirely built in Brazil, is on its way to the Roncador Field, Campos Basin, where it will be installed in a water depth of 1,790 metres. The column stabilized semi-submersible has a capacity of 180
Work is now well underway to build a new North Sea headquarters in Aberdeen for the U.K. independent oil producer EnQuest. Aberdeen’s Lord Provost yesterday, Tuesday, November 12, gave his seal of approval to what is set to become a new landmark building in the city.
Iran's finance minister believes sanctions against his country could cause the oil price to reach US$ 160 per barrel "We must pay close attention when we speak of oil revenues and sanctions against oil sales, who are the winners and the losers of such sanctions?" Shamseddin Hosseini
Classification society Germanischer Lloyd pledges UANI that it will stop certifying IRISL and NITC Vessels United Against Nuclear Iran (UANI) applauded the German shipping service Germanischer Lloyd (GL) for pledging to end its certification of Iranian shipping vessels
United Against Nuclear Iran (UANI) CEO, Ambassador Mark D. Wallace, applauds ClassNK's decision to end Iran ties Last week, UANI called on ClassNK, to close its Tehran office and stop certifying Iranian entities. Ambassador Wallace's statement reads:
Ithaca Energy (UK) awards Technip an EPIC subsea Greater Stella Area (at depth of 90 meters) development contract The Greater Stella Area (GSA) development is located in the North Sea, 280 kilometers East-Southeast of Aberdeen, Scotland at a water depth of approximately 90 meters.
Oil Search awards Kumul Marine Terminal pipeline IRM contract to Fugro-TSM Fugro-TSM, a division of Fugro Subsea Services, has been awarded the Kumul Marine Terminal Pipeline IRM (Inspection Repair Maintenance) contract by Oil Search Limited.
Royal Boskalis Westminster N.V. (Boskalis) associate company Smit Lamnalco wins Single Point Moorings (SPM) support contract from Petrofac. The contract is to support Single Point Mooring operations 20 km off the Al Fao Peninsula for the Iraq Crude Oil Export Expansion Project (ICOEEP)
Smit Lamnalco secures major O&M Contract in Iraq Smit Lamnalco has secured the turnkey contract to support Single Point Mooring operations for The Iraq Crude Oil Export Expansion Project (ICOEEP). The scheme, 20 km off the Al Fao Peninsula, looks to triple oil exports from Iraq.
Statoil, on behalf of the licence owners, issued a Letter of Intent (LOI) to Samsung Heavy Industries for a permanent floating oil storage unit (FSU). The contract is worth an estimated US$ 230-million and includes options to buy two additional units
North America is at the forefront of a game-changing transformation in oil and gas production claims International Energy Agency publication. This year’s World Energy Outlook published by IEA finds that the extraordinary growth in oil and natural gas output in the United States will mean
Smit Lamnalco recognised for services to the oil & gas terminal industries at the annual Seatrade Middle East & Indian Subcontinent Awards in Dubai, U.A.E. The company, which operates over 50 terminal contracts, operates and crews over 190 vessels in 31 countries and employs close to 3
Ocean Installer has been awarded an Engineering, Procurement, Construction, Installation (EPCI) contract for subsea installations and tie-in operations at the Statoil operated fields Gina Krog (former Dagny) and Eirin. The total contract value is approximately $85 million (U.S.), including options