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.
Top oil exporter Saudi Arabia told OPEC it raised its oil production in September by 100,000 barrels per day, adding to signs it has yet to respond to a drop in prices well below $100 a barrel by trimming output. In a monthly report issued on Friday, the Organization of the Petroleum Exporting Countries (OPEC) said Saudi Arabia reported September production of 9.704 million barrels per day (bpd), up from 9.597 million in August.
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 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 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 National Shipping Company of Saudi Arabia (Bahri) has named Ibrahim Abdulrahman al-Omar as its chief executive, effective on Oct. 1, a bourse filing said on Wednesday. Omar has worked in several senior positions at firms including Saudi Telecom and its affiliate Viva Bahrain, the statement added. He replaces Mohammad Omair al-Otaibi, who was appointed acting CEO last month after the departure of Saleh bin Nasser al-Jasser at the end of July.
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 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
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
Iran is using its sea power in the Gulf to show it will not be cowed by Washington's newly assertive Arab allies, prompting critics to accuse Tehran of destabilising the region. Iranian ships fired shots at a Singapore-flagged tanker which it said damaged an Iranian oil platform
An Iranian cargo ship heading to Yemen is expected to cross into the Red Sea on Thursday, state news agency IRNA reported, amid fears of a showdown with Saudi-led forces enforcing restrictions on Yemeni ports. The approaching vessel threatens to broaden a regional confrontation over Yemen --
An Iranian aid ship has reached the outskirts of Djibouti's port and is waiting for a permit to enter after Tehran agreed to an international inspection of the vessel with goods for Yemen, an activist on board said on Thursday. The Iran Shahed vessel, carrying 2
The World Food Programme will deliver a cargo of Iranian aid for Yemen once the ship carrying it reaches Djibouti's port, the U.N agency said on Friday. Earlier this week Tehran agreed to an international inspection of the vessel, the Iran Shahed
Maersk Line said on Monday it had met again with the Ports & Maritime Organization (PMO) in Iran regarding the seizure of the vessel Maersk Tigris but has yet to receive any official documents from Iranian authorities. The Maersk Tigris was seized last Tuesday by Iranian patrol boats in the
The Danish shipping giant Maersk Line is still trying to obtain details of the Iranian court ruling that resulted in seizing Maersk Tigris by the Iranian authorities over an alleged commercial dispute. While the Iranian claimant in the Maersk Tigris case warns vessel could be put
Merchant vessels are taking weeks to deliver vital food supplies to Yemen as Saudi-led coalition warships search for arms bound for Iran-allied Houthi fighters and heavy fighting disrupts shipments in a worsening humanitarian crisis. The conflict has hurt imports to Yemen
Iran released a Marshall-Islands flagged container ship Maersk Tigris and its crew has been released by Iranian authorities after the cargo company that owns it resolved a financial dispute which had been the subject of a court order.
An Iranian cargo ship will set sail for the rebel-held Yemeni port of Hodeida on Sunday evening, Iran's Tasnim news agency said, in a move likely to fan further tensions with Saudi-led forces blockading the country. Yemen's Iran-allied Houthi militia earlier on Sunday accepted a
The United States called on Iran on Tuesday to send humanitarian relief for Yemen to a U.N. distribution center in Djibouti and criticized plans, reported by Iranian state media, for Iranian warships to escort a cargo vessel directly to Yemen.
With Middle East giants Saudi Arabia and Iran squaring up on opposing sides in the Yemen war, the dangers to vital oil tanker and goods voyages are growing daily. Millions of barrels of oil pass through the Bab el-Mandeb and Strait of Hormuz everyday to Europe
Iran complained to the United Nations Security Council of the Saudi Arabia-led coalition's forces hindering its attempts to send aid to Yemen as a standoff loomed on Wednesday over an Iranian cargo ship bound for the Arabian Peninsula under military escort.
Yemen warned on Wednesday that if Iran did not allow a cargo ship bound for the Arabian peninsula with a military escort to be searched then it "bears complete responsibility for any incident that arises from their attempt to enter Yemeni waters."
Singapore Technologies Engineering Ltd (ST Engineering) today announced the appointment of Mr Lim Sim Seng as an independent non-executive Director of the Company with effect from 15 May 2015. Mr Lim, 56, is currently the Country Head
Iranian naval vessels fired what appeared to be warning shots over a Singapore-flagged ship in international waters in the Gulf on Thursday, prompting it to flee to United Arab Emirates waters, U.S. officials said. The Alpine Eternity, a 29,130 gross tonnes oil products tanker