Global Petroleum News

An Israeli-owned ship, the MV HELIOS RAY, was hit by an explosion in the Gulf of Oman overnight Thursday and a U.S. defense official said the blast left holes in both sides of the vessel's hull. The cause was not immediately clear.The vehicle-carrier ship is owned by a Tel-Aviv based company called Ray Shipping through a company registered in the Isle of Man, according to a U.N. shipping database."Investigations are ongoing. Vessel and crew are safe," the United Kingdom Maritime Trade Operations (UKMTO) said in an advisory notice on Friday. It urged vessels in the area to exercise caution.The U.S. defense official told Reuters in Washington…

The U.S. Energy Information Administration released its Short-Term Energy Outlook. • North Sea Brent crude oil spot prices averaged $52 per barrel (b) in April, $1/b higher than the March average and the fifth consecutive month that Brent crude oil spot prices averaged between $50/b and $55/b. EIA forecasts Brent prices to average $53/b in 2017 and $57/b in 2018. West Texas Intermediate (WTI) crude oil prices are forecast to average $2/b less than Brent prices in both 2017 and 2018.

In trying to make sense of the global, mobile maritime industry, there is no better ‘go to’ than Shashi N. Kumar, Ph.D., Master Mariner, Fulbright Senior Specialist Fellow, Emeritus Professor of International Business & Logistics, Academic Dean, United States Merchant Marine Academy (USMMA). Last month we met with Dr. Kumar in his office to put emerging global maritime trends in perspective. “The views expressed in this article are Dr. Kumar’s own and not those of the U.S. The World: When you look at the global shipping market, what do you see and why?

Caterpillar Global Petroleum to supply diesel generator sets for the drillships to be built in Brazil. The contract has been awarded by Estaleiro Enseada do Paraguaçu (EEP) for six drillships to be built at Estaleiro Enseada do Paraguaçu shipyard in the state of Bahia, Brazil, which has charter contracts with Petrobras for these vessels. Each of the six drillships will be powered by 6 x 16CM32 main diesel generator sets and the emergency power will be provided by 1 x 3516B generator set. Antti Ekqvist, Caterpillar global business development manager for offshore oil and gas commented, “We are pleased to be selected as the preferred power solutions provider by EEP for these new drillships.

Cat® 16CM32C generator sets selected to provide main power for a fixed platform & FPSO slated to operate in the Enping Oilfield. Four 16CM32C generator sets will be installed on the fixed drilling production platform; the remaining four will be installed on the FPSO, with the option to purchase another 2 generator sets at a future date. Each of the 16CM32C generator sets offers 7,680 kWe (9,600 kVA) and 60 Hz @ 720 rpm. CNOOC China Ltd. placed the order with delivery of the units, including auxiliary systems, to be provided in the summer of 2013.

Caterpillar's new 16-cylinder, 78 liter engine will be revealed for the first time at the 2013 CIPPE Show in Beijing. Manufactured in Lafayette, Indiana, the new Cat 3516C (HD) engine builds on the established track record of the 3512C (HD) engine, which has logged millions of hours in oilfields around the globe, including in China. The engine will be available in three ratings: 2,461 bkW (3,300 bhp), 2,349 bkW (3150 bhp) and 2,237 bkW (3000 bhp) @ 1900 rpm. The engine meets U.S. EPA Tier 2 Emissions for North America as well as  Tier 1 Emissions for international markets.

Caterpillar Inc. will have a number of technologies demonstrating its expertise in petroleum applications on display at the 2012 Global Petroleum Show. Among the products on display will be the company’s new Dynamic Gas Blending retrofit kit and the Cat® CX48-2300 transmission. In addition, the company will showcase the Cat G3520 engine and G3306 generator set as well as the C15 hazardous location solutions. The new Dynamic Gas Blending retrofit kit provides customers with a cost-effective dual fuel option. The Dynamic Gas Blending kit allows customers to reduce fuel costs and meet changing emissions regulations by utilizing a wide range of gaseous fuels in their existing diesel generator sets. Also on view is the enhanced G3520B engine.

Caterpillar is  to provide engine and transmission packages to SJ Petroleum Machinery, Co., for its newest model fracturing truck. Founded in 1941, SJ Petroleum is one of China’s largest manufacturers of petroleum drilling and production equipment. Cat® will be supplying 3512C HD engines and TH55 transmission packages to serve as the power modules for the company’s Model 2500 fracturing trucks for well service applications. These fracturing rigs are the first produced by the Chinese OEM for the China market. The Cat 3512C HD petroleum engine for hydraulic fracturing, rated from 1678 bkW (2250 bhp) to 1864 bkW (2500 bhp) at 1900 rpm…

An estimated 513 billion barrels of technically recoverable heavy oil are in Venezuela’s Orinoco Oil Belt. This area contains one of the world's largest recoverable oil accumulations, and this assessment is the first to identify how much is technically recoverable (producible using currently available technology and industry practices). Worldwide consumption of petroleum was 85.4 million barrels per day in 2008. The three largest consuming countries were United States with 19.5 million barrels per day, China with 7.9 million barrels per day, and Japan with 4.8 million barrels per day. “Knowing the potential for extractable resources from this tremendous oil accumulation…

Caterpillar Marine Power Systems appointed Alan Naisby as MaK Asia Managing Director based in Shanghai, China. Naisby brings 30 years of business development, sales, marketing, and management experience in the diesel engine industry. Prior to joining Caterpillar, he was with Rostra Precision Controls and Lucas Industries, including management experiences in the UK, USA, and Korea. After joining Caterpillar in 1998, Naisby managed a variety of marketing teams in the USA and Germany for Caterpillar Fuel Systems.

Caterpillar announces the appointment of Jim Bielenberg as Global Petroleum Manager to lead Power Systems Petroleum Business worldwide. Bielenberg will be based in Houston, Texas, reporting to John Phipps, Director Marine, Rail and Petroleum. Historically, Power Systems Petroleum Business has maintained a leadership position within North America and in certain niche markets internationally. Caterpillar's expanded products and services offerings, combined with growing global opportunities, requires a new approach which capitalizes on existing relationships, unique local presence and global strengths. This new organization will represent the global enterprise focus. Bob Tyson has been named as Regional Manager for North and Latin America.

El Paso Global LNG, a subsidiary of El Paso Corporation, announced today that the definitive liquefied natural gas (LNG) purchase and sale agreement signed in October 2001 with a consortium of natural gas production companies led by Statoil ASA received final Norwegian and United States government approvals on May 31, 2002. The consortium will develop the Snohvit Project in northern Norway and provide El Paso with an annual delivery of approximately 1.8 million tons of LNG during the 17-year primary term of the agreement. This agreement will account for more than 40 percent of the total capacity to be produced at the Snohvit Project's LNG liquefaction facility, which will be located on Melkoya Island, just north of Hammerfest, Norway.

Amidst fears of a tanker glut, MISC Bhd sees growth opportunities in the tanker business. President and chief executive officer Datuk Shamsul Azhar Abbas said shipping was a cyclical business and industry players recognized that there would be opportunities to expand during a downturn. An increase in oil prices, a number of new tankers transporting crude oil and increasing size of oil tankers fleet worldwide had raised concerns among the shipping fraternity of a potential tanker glut. It was reported that the size of the oil tanker fleet expanded 3.8% this year, overwhelming the 1.7% growth in in crude oil demand estimated by the International Energy Agency.

E-business means doing business on the Internet. This can include any business process - to include buying and selling, which is known as E-commerce. The arranging for transport by sea or the buying and selling of things needed for ships that sail from port to port are among the world's oldest professions. Many ship owners, operators or managers still conduct business the old-fashioned way, building and maintaining close and longstanding relationships with suppliers or customers. While the dot-com craze of a few years ago has passed, E-business is revolutionizing several important business processes in the maritime industry. Computers can aid in the design and construction of vessels, and the Internet can be used to transmit design information and changes instantaneously.

On October 23, the FBI issued an intelligence update warning state and local law enforcement of recent reporting that Al Qaeda is targeting the U.S. railway and petroleum sectors. Information from debriefings of Al Qaeda detainees as of mid-October indicates that the group has considered directly targeting U.S. passenger trains. The U.S. U.S. economic interests. containers. Recently captured Al Qaeda photographs of U.S. threat. against the global petroleum sector. including oil facilities and nuclear power plants. In addition, the U.S. financial sector and government facilities and installations. physical protections. enhanced rail security measures. well as Amtrak. implementation of enhanced security measures. measures. Administration have implemented additional security measures as well.