Downstream Oil News

Shell Oman Marketing Company SAOG signed an agreement with Port of Duqm Company SAOC (PDC) to develop fuel bunkering facilities and services.The downstream oil marketing company in the Sultanate said in a press release that agreement was signed by Dr. Mohammed Mahmood Al Balushi, Chief Executive Officer of SOM, and Reggy Vermeulen, CEO of PDC.The agreement establishes bunkering terminal to provide different grades of quality fuels and lubricants as well as other ancillary facilities to marine liners calling at Port of Duqm, a 50:50 joint venture between the Oman Government and Port of Antwerp Consortium.Dr. Mohammed Mahmood Al Balushi…

Oil spills, trash, debris, sediment, chemicals: how do we keep our waterways clean? If an oil spill happens on water, the Oil Pollution Act of 1990 (OPA90) has very clear rules on who is responsible for paying for cleanup costs. Most oil spills can be traced to the spiller – a pipeline owner, oil tanker, shipper, railroad or trucking company. “Pointing a finger” at the alleged party may be why this type of pollution is referred to as “point source.” If the oil spill is ruled an accident and the polluter is not legally responsible…

Brazil stays in the spotlight - Tanker Research & Consulting department at Poten & Partners takes a look at the tanker market in the country. The Rio Olympics were successfully concluded on August 21. Ten days later, on Wednesday, August 31, Brazil’s Senate voted 61-20 to remove Dilma Rousseff as president of the most populous country in Latin America. Ms. Rousseff was accused of using illegal bookkeeping maneuvers to cover up a growing budget deficit. Interim president (and former vice president) Michel Temer will finish out her term, which runs through the end of 2018. Brazil remains the oil powerhouse of Latin America, but the problems facing Petrobras have already had a profound impact on both their upstream and downstream oil industry and could influence the tanker market as well.

Global Maritime Group has appointed Peder Sortland as its first CEO. Sortland comes from the post of CEO at Apply ASA, and knows part of the group well from holding the position as chair of Global Maritime AS since April 2014. Before joining Apply in 2012, Sortland was chief executive of Ross Offshore and Subsea Technology Group. He has also managed the Norwegian unit of Subsea 7, and held the position as chair in Ocean Installer. He held a number of leading posts in the Statoil group from 1992-2010, covering upstream and downstream oil and gas activities both in Norway and internationally.

Mr Rakesh Sarin (59), B.Sc. (Eng.), has been appointed President of Power Plants, Executive Vice President and member of the Board of Management of Wärtsilä Corporation, effective 1 September 2014. In this position, he is responsible for Wärtsilä's Power Plants business globally, and will report to President & CEO Mr Björn Rosengren. Mr Sarin joined Wärtsilä in 1998 with a background in downstream oil & gas sector. During the past 16 years he has held several managerial positions in Wärtsilä, including Vice President for sales & marketing of Power Plants globally based out of Helsinki. Since 2008 Mr Sarin has held a dual role as Vice President for Power Plants sales in Middle East, Asia and Australia, and Managing Director for Wärtsilä India. Mr Vesa Riihimäki (48), M.Sc.

Royal Dutch Shell plc has updated its expected 2013 results. Fourth quarter 2013 figures, which are expected to be published on January 30, 2014 , are expected to be significantly lower than recent levels of profitability, considering current oil and gas prices and the downstream oil products industry environment. Shell’s fourth quarter 2013 earnings on a current cost of supplies (CCS) basis excluding identified items are expected to be approximately $2.9 billion and were impacted by weak industry conditions in downstream oil products, higher exploration expenses and lower upstream volumes.

Premier Oil, the FTSE-250 oil and gas exploration and production company, has awarded a major asset integrity management contract to GL Noble Denton for the provision of asset integrity advice and inspection services across Premier Oil’s U.K. operated assets. The multimillion pound deal will include inspection management, risk analysis, examination support and nondestructive testing to a range of production and processing facilities. The contract, which was awarded following a competitive tender…

International law firm Pinsent Masons has appointed Bob Ruddiman as Global Head of Energy and Natural Resources, in a move which underlines the firm’s energy industry commitment. Mr Ruddiman was previously Head of Energy at McGrigors which merged with Pinsent Masons on 1 May to create the UK’s 12th largest legal firm. Pinsent Masons has a staff of 2500 spread throughout 15 international locations in the UK and major oil and gas hubs, including Aberdeen, Qatar, Dubai, Singapore, Beijing, Shanghai and Hong Kong.

Jan Arve Haugan has been appointed President and Chief Executive Officer (CEO) of Kvaerner. This new engineering, procurement and construction (EPC) company is being established through a demerger of Aker Solutions. Kvaerner will be separate and listed on the Oslo stock exchange, most likely in July this year. Jan Arve Haugan started his professional career in the Norwegian construction company F. Selmer (now part of Skanska), and in 1991 he joined the Norwegian industrial group Norsk Hydro as chief engineer for the Oseberg field development as a key task. Since then he has had leading positions in many of Hydro's oil and gas projects and operations.

ACE Winches has appointed Derek Penny as head of group sales and business development. With 18 years experience in the upstream and downstream oil and gas, marine and naval defence markets, Penny joins the company from subsea engineering company, SMD, where he was engaged in strategic business development. Derek gained his BSc at Glasgow University and his MBA at Dundee University. Penny has previously worked with Shell, Tyco, ABB and IMES.