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Tankering

Lack of Shuttle Tankers: Problem for GOM?

Shuttle tankers meeting rigorous federal safety and environmental standards will be ready to begin transporting crude oil to U.S. ports whenever the first Floating Production, Storage and Offloading (FPSO) vessel is deployed in the Gulf of Mexico, Houston-based American Shuttle Tankers L.L.C. (AST) said today. "In the weeks since the Minerals Management Service (MMS) approved the use of FPSOs in the Gulf of Mexico, companies evaluating development options for deepwater oil discoveries in the U.S. Gulf have been encouraged to move FPSOs and FSOs higher on their lists of potential field development solutions", said Oyvind Jordanger, president of AST. American Shuttle Tankers, which was formed last year by the top crude oil lightering company in the Gulf of Mexico and the leading shuttle tanker service provider in the North Sea, intends to become the preferred shuttle tanker company in the U.S. Gulf Coast. Jordanger said AST plans to build a fleet of shuttle tankers specially designed to meet the stringent design requirements of vessels authorized to operate in U.S. waters and in compliance with U.S. Coast Guard requirements. AST shuttle tankers will be built in U.S. shipyards and manned by U.S. crews. In addition, AST will draw on the technical and operating expertise of both of its owners to provide safe, reliable, flexible and cost-effective shuttle tankering services to operators of oil fields in the U.S


Philippine Govt Eyes Sale of PNOC Tankers Anew

According to reports, the Philippine government has revived plans to dispose its interest in the shipping and transport arm of Philippine National Oil Co. (PNOC) as part of aggressive privatization efforts. The government is inviting prospective financial advisors to submit their offers for the sale of PNOC Shipping and Transport Corp. (PSTC). Interested bidders have until Dec. 12 to submit their offers. The financial advisor will be tasked to advise, guide, and assist in the design


OPEC Set To Slash Production

OPEC's president said on Monday a likely cut in oil supply by the exporting cartel was no threat to global economic growth, but aimed at avoiding a price collapse in the second quarter of the year. Chakib Khelil, who is also Algerian Energy and Mining Minister, told Reuters Television that current OPEC exports were 1.5 million barrels per day (bpd) above forecast world demand this year, but that some members wanted to reduce by as much as two million to safeguard revenues.


OPEC Set To Slash Production

OPEC's president said on Monday a likely cut in oil supply by the exporting cartel was no threat to global economic growth, but aimed at avoiding a price collapse in the second quarter of the year. Chakib Khelil, who is also Algerian Energy and Mining Minister, told Reuters Television that current OPEC exports were 1.5 million barrels per day (bpd) above forecast world demand this year, but that some members wanted to reduce by as much as two million to safeguard revenues.






 
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