Saudi Arabia's stands ready to step in and replace any oil supplies that may be disrupted because of Y2K computer problems. " Saudi Arabia's unused oil production capacity is reportedly about three million bpd.
Rowan Companies, Inc. was awarded term drilling contracts by the Saudi Arabian Oil Company (Saudi ARAMCO) for two Tarzan Class jack-up drilling rigs to begin operating offshore Saudi Arabia in 2007. Each contract is for a four-year term. The relocation of the two rigs from the Gulf of Mexico will begin in January 2007 and the rigs should be operational in Saudi Arabia by the end of the first quarter. Rowan estimates that revenues from the contracts will be in excess of $550m
The supply of crude oil cargoes for the largest tankers rose 32 percent so far this year, as Saudi Arabia boosted exports to compensate for the possibility of fewer Iranian cargoes, Arctic Securities ASA said. Very large crude carriers hauled 97 million metric tons of oil in the first 11 weeks of the year, up from 73.7 million tons during the same period of 2011, Oslo-based analyst Erik Nikolai Stavseth said by phone
The Kingdom of Saudi Arabia welcomed the delivery of its two Austal-built 289 ft high speed vehicle-passenger catamarans, “Riyadh” and “Cairo” during a handover ceremony in Jeddah attended by King Abdullah bin Abdulaziz Al Saud and the Egyptian President Mohammed Hosni Mubarak. Ordered by the Saudi Arabian Ministry of Finance in 2007, the vessels are a gift to the Egyptian Government, and will assist in improving the standard of ferry services across the Red Sea.
The U.S. Department of the Treasury issued the current list of countries which may require participation in, or cooperation with, an international boycott that is inconsistent with U.S. law. The current list consists of: Bahrain, Kuwait, Lebanon, Libya, Oman, Qatar, Saudi Arabia, Syria, United Arab Emirates, and the Republic of Yemen. 69 Fed. Reg. 42085 (HK Law).
The National Shipping Company of Saudi Arabia (Bahri) receives the 'Bahri Abha' from South Korea's Hyundai Mipo shipyard. The new ship, of 26,000 dwt, was built especially for the general cargo trade and is the first to be delivered of six vessels that were contracted by the Company with Hyundai Mipo shipyard in 2011 for a total value of SAR 1,543 million. The remaining five general cargo vessels ordered by Bahri are under construction at Hyundai Mipo in South Korea with delivery expected
SMIT has reached an agreement with Damen Shipyards from the Netherlands for constructing 11 newly built vessels. Two of these vessels (type ASD 3211, 65 tons bp) have been awarded with a long-term contract for the Terminals Division in Equatorial Guinea and will be delivered in respectively September and December 2007. Four vessels (type ASD 2810) are replacements for the Harbor Towage fleet in Rotterdam. These vessels will be equipped with a substantially higher bollard pull (60 tons bp)
The National Shipping Company of Saudi Arabia (Bahri) sells 'Saudi Diriyah' for recycling. The sale of the general purpose cargo vessel raised the sum of SAR. 30,257,136 generating a net gain of SAR 19,523,391 after deducting its book value and all expenses associated with the sale. Bahri mention that they had previously announced the signing of six ship building contracts to acquire six new general cargo vessels to replace the older fleet in this sector which have completed their useful life
Rolls-Royce won contracts to supply Syncrolift ship lifts to two shipyards in the Middle East. One order, from Damen Shipyards Sharjah FZE (DSS) will see a Syncrolift designed and installed at Hamriyah Free Zone shipyard at Sharjah, in the United Arab Emirates. This installation, with a docking platform of 120 metres in length and a width of 26.5 metres will be the sixth Rolls-Royce Syncrolift installed in the UAE and it will be operational by the end of 2012.
Ray Mabus, former Mississippi governor and U.S. ambassador to the Kingdom of Saudi Arabia, was sworn in today as the 75th Secretary of the Navy. Leading the Navy and Marine Corps, Secretary Mabus will be responsible for an annual budget in excess of $150 billion and almost 900,000 people. The Secretary of the Navy is responsible for conducting all the affairs of the Department of the Navy, including recruiting, organizing, supplying, equipping, training, and mobilizing
Kanoo Shipping – an offshore and marine services provider in the Middle East, operating throughout Saudi Arabia, Bahrain, UAE, Oman, Qatar, Yemen, Iraq and Sudan – will be present at the Saudi International Marine Services Show -2013 to demonstrate various services provided by the
The National Shipping Company of Saudi Arabia (Bahri) receive the 'Bahri Hofuf' from the South Korean shipyard Hyundai Mipo. The new 26,000 dwt general cargo ship is the second vessel delivered from the six vessels that were contracted by the Company with this shipyard in 2011 for a total value
Officials from NACE International & ministries of defense convene to compare best practices in combatting material degradation. The U.S. and its allies are serious about battling corrosion on aging aircraft, ships, submarines, and ground vehicles
MAN Diesel & Turbo makes the 500th sale of its 48/60 medium-speed engine to Huta Marine of Jeddah, Saudi Arabia who ordered a pair for its new dredger. The milestone was reached with the order of two common-rail variants of the engine by Huta Marine of Jeddah
Exxon Mobil Corp. booked two tankers to haul oil to the U.S. Gulf Coast via the Suez Canal in May at what may be this year’s lowest rates, a shipbroker told Bloomberg.com. “The very large crude carriers, each able to haul 2 million barrels of oil
Following the launch of the IHC Beaver 65 DDSP in February, the first vessel has been sold to Advanced Construction Company, a member of the Al Geithy Group, based in Saudi Arabia. Testing was successful completed at IHC Merwede’s shipyard in Sliedrecht, The Netherlands
Singapore to chair the Aids to Navigation Fund (ANF) Committee from 2013 to 2015, & hosts the 10th Meeting of the ANF Committee. The ANF, one of the three pillars under the Co-operative Mechanism on Safety of Navigation and Environmental Protection in the Straits of Malacca and Singapore
China reached this milestone in December 2012, as its net petroleum imports surpassed those of the U.S. In a recent press release NYC-based PIRA Energy Group reports that weak reported oil demand in the U.S. reduced the commercial stock draw
Asia Offshore Drilling Ltd (AOD) has signed drilling contracts whereby AOD's jack-up drilling rigs AOD II and AOD III will be leased to Saudi Aramco for operations offshore Saudi Arabia. The drilling contracts have been entered into and will be managed by Seadrill Management, on behalf of AOD.
Conservative estimates put the size of recoverable crude oil and natural gas offshore USA the equivalent of nearly 35 years of Saudi Arabia's production. Excerpts from Chevron's case for the need of development of offshore resources follow:
Keppel FELS complete two rigs early for Transocean and Asia Offshore Drilling, earning a combined US$1.5-milliion bonus. Over two consecutive days Keppel FELS held naming ceremonies for twin jackup rigs built for Transocean, and another jackup rig built for Asia Offshore Drilling (AOD)
UAE to generate logistics revenues in excess of USD 9.4 billion by 2014 to lead growth of regional logistics and supply chain sector. International cargo demand in Middle East to expand 4.9 per cent by 2016 Barloworld unveils growth plans focusing on strengthening
Bahri announce the Interim Consolidated Financial Results for the 12-month period ended 31st December, 2012. The National Shipping Company of Saudi Arabia (Bahri) report that Net profit, for the 12-months totaled SAR 500.4 million compared to SAR 287
Still no Arctic offshore oil from the Prirazlomnaya platform, but Russia keeps the position as the world’s largest oil producer. Prirazlomnaya field in the eastern Barents Sea was supposed to be the first operating offshore oil production on Russia’s Arctic continental shelf when
Bahri subsidiary, National Chemical Carriers Ltd., cancels contract for chemical tanker (NCC Bader) due to the delay in terms of delivery. The National Shipping Company of Saudi Arabia (Bahri) announces that its 80% owned subsidiary company National Chemical Carriers Ltd. Co