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 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 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) 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)
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.
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
Reported spot market activity from the Arabian Gulf remains on an upward trend since 2010 in spite of rising US crude production, reports Poten & Partners’ in their latest ‘Tanker Opinions’. Over the past few years US domestic crude oil production has supplanted foreign crude oil imports. To the extent that they possibly can, domestic refiners have shifted to local grades that have trended at an often significant price discount
Great Lakes Dredge & Dock Corporation (GLDD) the largest provider of dredging services in the United States and a major provider of environmental and remediation services, has reported financial results for the quarter ended June 30, 2014, excerpted as follows:
The U.S. Energy Information Administration plans to release two reports in September examining some of the issues surrounding a potential end to the nation's decades-old ban on most crude oil exports, the EIA's chief said on Monday. Some lawmakers have pressed the EIA
The United States has approved anti-dumping duties against South Korea and other producers of steel pipes for the energy sector, a victory for domestic producers hoping to benefit from a boom in the U.S. shale oil and gas industry. U.S. steel companies lodged a complaint in 2013 as foreign
Engineering, construction, technical, and professional services provider, Parsons, says it has been awarded a contract by the Roads and Transport Authority (RTA) to perform infrastructure design services for the Dubai Water Canal Project.
The head of the State Department's office in charge of energy diplomacy will step down in August after playing a key role in getting countries such as China, India and Japan to cooperate with Western sanctions on Iran, officials said on Friday.
Established in 2008 in Dubai, Vega Ships Management announces the global expansion of their all-encompassing vessel post fixture services into the world wide shipping market. Vega Ships Management offers Vessel Post Fixture Commercial Operation services, headquartered in Dubai
Egypt is receiving fuel shipments to cover its needs for this month, an energy official said on Friday, despite $6 billion of free fuel given by its Gulf allies after the army took power last year. Amr Mostafa, vice president of the state-run Petroleum Authority for Operations
OPEC is ready to pump extra oil in the event of any supply disruptions caused by Iraq and its biggest producer, Saudi Arabia, can ramp up to capacity if needed, oil officials said on Tuesday. For now the market is well-supplied and prices above $114 a barrel are the result of market nervousness
Foster Wheeler AG (Nasdaq:FWLT) announced today that BHI Co., Ltd., a licensee of its Global Power Group, has been awarded a contract by Samsung C&T for the design and supply of six heat recovery steam generators (HRSGs) for the 2
Imports of crude oil into Canada fell to a one-year low in May despite a continued climb in imports from the United States, Statistics Canada data showed on Thursday. Canada imported 16.6 million barrels in May, or around 535,000 barrels per day (bpd), from around the world
The Paris MoU published its report on 2013’s worldwide flag performance, “White, Grey and Black Lists.” The report indicates further improvements towards quality shipping. Last year Thailand and the United States of America were moved up to the White List
Brent crude prices will move higher after some first half July weakness predicts NYC-based PIRA Energy Group. Brent crude prices will move higher after some first half July weakness with tighter global crude markets and reduced OPEC spare capacity even as Saudi Arabia makes up for lower Iraqi
The Hydrocarbon SBU of Essar Projects, a global EPC (engineering, procurement, construction) contractor, has secured its maiden contract from Saudi Aramco, the national petroleum and natural gas Company of the Kingdom of Saudi Arabia.
Today in U.S. Naval History - August 6 1862 - CSS Arkansas destroyed by her commanding officer to prevent capture by USS Essex. 1943 - Battle of Vella Gulf begins. US destroyers sink three of four Japanese destroyers. 1945 - Atomic bomb detonated over Hiroshima, Japan
The 'West Alpha' platform, owned by North Atlantic Drilling, has begun drilling the Universitetskaya-1 well in the Kara Sea as part of a joint Rosneft and ExxonMobil project, reports Russian official news agency 'Arctic-info'. Russian President Vladimir Putin