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08 May 2020

Oil rises 5% in second weekly gain on output cuts, demand hopes

© Pavel Ignatov / Adobe Stock

Oil prices settled 5% higher on Friday in their second consecutive week of gains as U.S. producers cut production with the number of drilling rigs falling to a record low, and as more states moved ahead with plans to relax lockdowns intended to halt the coronavirus pandemic.The number of operating oil and natural gas rigs fell by 34 to an all-time low of 374 this week - reflecting data going back 80 years - as the energy industry slashes output and spending to deal with the coronavirus…

08 May 2018

Poland Cuts Dependence on Russian Oil but at a Cost

© Nightman1965 / Adobe Stock

Poland's imports of Russian oil last year fell to their lowest level since 2005, a central bank report published on Tuesday showed, though Warsaw's bid to diversify its energy imports also meant paying higher prices.Russian oil accounted for 76 percent of all oil purchases, down from 96 percent in 2012, as state-run refiners PKN Orlen and Lotos increased their purchases of oil from sources other than Russia.PKN Orlen signed a long-term agreement on regular oil supplies with Saudi…

18 Nov 2016

Op/Ed: Obama’s Parting Salvo at US Energy Security

Randall Luthi (Photo: NOIA)

Randall Luthi, President of the National Ocean Industries Association (NOIA), does not pull any punches as he weighs in on the Obama administration’s release of the Final 2017-2022 Outer Continental Shelf (OCS) Oil and Gas Leasing Program. The good news is we now have an offshore leasing plan for the next five years that includes a schedule for regular oil and gas sales in the Gulf of Mexico. The bad news is it is only half a plan. Offshore energy development is a vital part of the U.S. economy, providing jobs, energy security and much needed government revenue.

05 Jul 2016

Refrigeration Plant Optimisation cuts Operational Cost for LSM

London Ship Managers (LSM) has made substantial savings across its fleet of 9000gt refrigerated cargo vessels following an extensive refrigerant plant optimisation programme carried out by Oceanic Technical Solutions. An engineering team from the Asia division of the UK-based refrigeration specialist carried out complete marine refrigeration inspections aboard the Cala Portese, Cala Piana, Cala Pevero and Cala Piccola. LSM Technical Fleet Manager Mike Seymour said: “We found we were spending substantial time and resources looking and checking for gas leaks which were still not being efficiently detected, in order to try and remove any environmental impact our vessels were making.

11 Apr 2014

Iran's Oil Exports Surge above Sanctions

Iran's crude oil exports have surged to their highest in 20 months, far exceeding a 1 million barrel-per-day limit set by the West under an interim deal on curbing Tehran's nuclear program. The International Energy Agency's monthly report revised February's global crude imports from Iran upwards by 240,000 bpd to 1.65 million barrels per day, the highest since June 2012. Under an interim deal signed in November between Iran and world powers - known as the P5+1 - that came into effect in January of this year, Iran's exports are supposed to be held at an average 1 million bpd for the six months to July 20. Tough international sanctions over the past two years have cut Iran's oil exports around a half.

30 Nov 2005

Shell Aims to Develop Arctic Oil Field

One of the world's biggest oil companies believes Arctic waters, including those north of Alaska, hold huge promise as an oil and gas frontier, according to a Petroleum News report. Facing depletion of its regular oil sources, Shell views the Arctic as a very tantalizing opportunity to develop new oil and gas resources. The company's views tend to support studies by academics and agencies that Arctic basins contain about 25 percent of the world's remaining undiscovered resources, according to the report. All of these basins are outside of the control of the Organization of Petroleum Exporting Countries, and most are unexplored and undeveloped.

29 Jul 1999

Chesapeake Marine Tours Adds Twelfth Boat

Ed Hartman started his maritime life with a row boat on summer vacations to Annapolis. After a "real life" as a lawyer he followed his maritime passion in 1980 to operate Chesapeake Marine Tours and Charters, Inc., which he had started with a single boat and a partner in 1972. Today, the company has a fleet of 11 boats ranging from 24-ft. water taxis to 65-ft. dinner cruisers. This June will see the addition of the fleet's twelfth boat and flag ship, 109 x 27-ft. 250 passenger Catherine Marie. Building at Freeport Shipbuilding in Florida, the boat is powered by a pair of Cummins C6TA M3 deliverning 350 hp @ 2,500 rpm and driving through Twin Disc MG5091 gears with a 2.95:1 ratio. The two 70 Kw gen sets on the new vessel are powered by Cummins 6BT 5.9 MG2 engines.

02 Nov 1999

Oil Consumption of Medium Speed Diesel Engines

Reliability and availability are of paramount importance to all users of internal combustion engines. Inherent engine design reliability must be complemented by a suitable periphery and the appropriate choice and treatment of working media such as lubricants and fuel. CIMAC Working Groups have a long tradition of preparing recommendations and guidelines for the internal combustion engine industry and its users. In performing this work, CIMAC takes advantage of its wide and competent international membership; Working Group -"Lubricant" is truly worldwide, with active members from Japan, U.S. and all round Europe/Scandinavia. Specialists from all relevant background - Equipment/Engine Manufacturers…