OPEC Strives For $22-$28 Barrel

Friday, March 31, 2000
Venezuelan Energy and Mines Minister Ali Rodriguez said that OPEC had agreed to defend a price band of $22 to $28 per barrel for its basket of crudes in a bid to stabilize prices. Rodriguez reportedly said the oil cartel would automatically raise or cut production by 500,000 barrels per day (bpd) if prices move outside of the band for more than 20 days. Nine members of OPEC agreed this week in Vienna to increase output by 1.45 million bpd from April 1, to curb soaring prices.

Offshore

GoM Operators Evacuating Ahead of Storm

Offshore oil and gas operators in the Gulf of Mexico are evacuating platforms and rigs in the path of Tropical Depression No. 9.   The Bureau of Safety and Environmental

New Offshore Gangway Launched at ONS

The new Barge Master Gangway will be presented at the joint booth of Barge Master and Bosch Rexroth during the international offshore trade exhibition ONS (Offshore Northern Seas) in Stavanger.

Russian Shipbuilder Signs $1 bln Oil Rigs Contract with Iran

Russian shipbuilder Krasnye Barrikady and Iran's Tasdid Offshore Development Company (TODC)  have signed a deal worth $1 billion to build five offshore drilling

Ports

Five Vessels Delivered for Qatar’s New Port Project

Nakilat Damen Shipyards Qatar (NDSQ) has delivered five vessels as part of an 11-vessel order for New Port Project (NPP). Built entirely at the Erhama Bin Jaber

Samskip Acquires Euro Container Line AS

Samskip has completed the acquisition of Euro Container Lines AS, building on a strategy for growth in the Nordic area to make its largest ever acquisitive move in Norway.

Passenger Vessel Allides with Pier in Baltimore

Passenger vessel Spirit of Baltimore struck the pier at Henderson Wharf Marina in Baltimore, Sunday morning, causing 60 feet of damage to the pier and cosmetic damage to the vessel’s hull.

 
 
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