Offshore Oil Wells, Ports Shut as Hurricane Sally Advances on U.S. Gulf
Energy companies, ports and refiners raced on Monday to shut down as Hurricane Sally grew stronger while lumbering toward the central U.S. Gulf Coast, the second significant hurricane to shutter oil and gas activity over the last month.The hurricane is disrupting oil imports and exports as the nation's sole offshore terminal, the Louisiana Offshore Oil Port (LOOP), stopped loading tanker ships on Sunday, while the port of New Orleans closed on Monday.The U.S. government said 21%âŚ
IRS completes Well Stimulation Vessel Conversion
IRClass, a leading Classification Society and member of IACS, has recently completed the survey and certification of âGreatship Ramyaâ, during its conversion from an Offshore Supply Vessel (OSV) to a Well Stimulation Vessel for Schlumberger under its Single Class. The vessel is now deployed with an Indian Oil Major in the offshore sector. Well Stimulation Vessels are one of the most critical ship types in offshore segment with respect to complexity of processes and equipment reliability as they handle hazardous chemicals under very high pressures (close to 20,000 Psi) and supply/receive these fluids to& from offshore Oil Wells. The Classification for such vesselsâŚ
Creditors Approve Restructuring Of Batista's Oleo E Gas - Update
Creditors of Brazilian tycoon Eike Batista's Oleo e Gas Participacoes SA approved a restructuring plan for the oil company that could lead to a quick resolution of the largest bankruptcy in Latin America's history, lawyers said on Tuesday. The plan was approved by creditors holding 90 percent of the Rio de Janeiro-based company's nearly 12 billion reais ($5 billion) of unpaid obligations. If a judge approves, creditors will swap debts for about 90 percent of Oleo e Gas stock, said Ricardo Knoepfelmacher of Angra Partners, the consultancy that handled talks with creditors. The judge's approval is expected within days, he said. Creditors include Newport BeachâŚ
Hurricane Ida Emergency Marine Equipment Supply
Less than 24 hours after Hurricane Ida reached the coast of La., trucks were leaving Tideland Signalâs factory loaded with solar powered marine beacons and fog signals desperately needed to mark the Gulf Coastâs vital offshore oil wells. Emergency spares, sent to replace existing equipment damaged during the hurricane, arrived at coastal staging areas ready for immediate deployment well before the coastal helicopter and workboat fleets were set to depart offshore. Tideland SignalâŚ
$45M Oil Well Contract for Trinidad
Rowan Companies announced a $45m contract to drill four offshore oil wells in Trinidad and Tobago. The Rowan Gorilla III will soon relocate to Trinidad to begin a one-year term contract. The new contract is with another operator and should extend the rig's stay in the area by about six months to March 2008. The company expects the new contract will generate approximately $45m of drilling revenues. (Source: Caribbean360.com)
