Oil And Gas Supplies News

President Joe Biden's administration on Friday unveiled a five-year proposal for offshore oil and gas development in areas of existing production, and said the final plan may have anywhere from zero to 11 lease sales.The range of options, between two auctions a year and none at all, sought to balance the administration's efforts to fight climate change with its calls to increase oil and gas supplies in the face of soaring fuel prices.The proposed plan includes no more than 10 possible sales in the Gulf of Mexico and one in the Cook Inlet off the coast of Alaska…

The U.S. ban on Russian oil and gas imports is likely to leave more cargoes at sea with no buyers, and the European Union's decision to continue imports was unlikely to make much difference to disarray in Russian oil trade, analysts said on Tuesday.U.S. President Joe Biden on Tuesday imposed an immediate ban on Russian oil and other energy imports in retaliation for the invasion of Ukraine and Britain said it would phase out imports through the end of 2022.The European Union did not join the ban because it is more dependent on Russian oil and gas supplies.

Global shipping is still feeling the effects of a cyber attack that hit A.P. Moller-Maersk two days ago, showing the scale of the damage a computer virus can unleash on the technology dependent and inter-connected industry. About 90 percent of world trade is transported by sea, with ships and ports acting as the arteries of the global economy. Ports increasingly rely on communications systems to keep operations running smoothly, and any IT glitches can create major disruptions for complex logistic supply chains. The cyber attack was among the biggest-ever disruptions to hit global shipping.

U.S. energy firms are scrambling to finish a slew of pipelines that will unleash rich reserves of shale gas in Pennsylvania, West Virginia and Ohio as the nation prepares to become one of the world’s top natural gas exporters. The pipelines are expected to boost output from shale fields in the three states by giving producers access to new domestic and international markets. Those states could supply about a third of all U.S. natural gas once the pipeline expansion is complete, up from about 25 percent now, according to projections from the U.S. Energy Information Administration (EIA).

The X-STERN solution from Ulstein was awarded the Next Generation Ship Award at the Nor-Shipping opening conference on June 2. Innovative ship design is the main criteria in the awarding of this prize. “Innovation is at the core of what we do, and we are truly delighted to receive this recognition,” comments Gunvor Ulstein, CEO of Ulstein Group. “The offshore industry is experiencing a downturn and eventually oil and gas supplies will come to an end. Tore Ulstein, Deputy CEO and Head of Market and Innovation, comments further, “Thinking outside the box and challenging accepted ideas is at the heart of innovation. When we introduced the X-BOW ten years ago, many people commented on the unusual look of the bow and questioned its improved seakeeping characteristics.

Leaders at the G20 Summit are seeking to lay the foundations for a new global energy trade regime to help ensure open markets and prevent oil and gas supplies being used as tools of foreign policy, the Australian newspaper reported on Saturday. A central part of the plan, which has the backing of Saudi Arabia and Russia, would be an institution to sit above OPEC and the International Energy Agency, the newspaper said in an unsourced report. The talks on energy security have not been concluded and could be influenced by the growing debate over climate change, it added. The G20 agreement is expected to include commitments on security of energy supply, which would preclude embargoes of any sort, and transparency of pricing, according to the Australian.

3rd U.S. condensate export cargo heading to Singapore; Pioneer expects exports to rise to 50,000 bpd next year. Eyes exports of bigger cargoes to reduce freight costs. Pioneer Natural Resources plans to double its U.S. exports of condensate, an ultra-light oil, to 50,000 barrels per day (bpd) next year, its chief executive said on Monday. The U.S. shale resources explorer, along with Enterprise Product Partners LP, received the green light from the U.S. government in March to ship the ultra-light crude as the country softened a 40-year ban on oil exports. "We operate 50,000 bpd and we're selling probably about 20-25,000 bpd, but eventually we'll get up to 50,000 bpd," Scott Sheffield told Reuters, saying this would happen next year.

Reflex Marine has been granted approval by the Mexican Merchant Marines to sell its crane transfer device, the FROG-6, in Mexico. The certification is a result of Reflex Marine working with the Mexican government’s testing agency, the Centro de Normalizacion y Certificacion de Productos (CNCP) for over a year, as well as the national oil operator PEMEX with the help of its local partner GINEMEX. The FROG-6 was also exhibited at the Petroleum Exhibition and Conference of Mexico (PECOM) where it received a huge amount of attention from operators, crew and the media.

Combined production of crude oil, gas and condensates in the United States is on course to a hit a record this year, passing the previous peak set in 1972. The rise in output has confounded the famous forecast made by Shell geologist M King Hubbert who predicted that U.S. oil and gas production would peak in the 1970s and then decline. Hubbert's prediction was contained in a paper entitled "Nuclear Energy and the Fossil Fuels," published in 1956, in which he argued the coming decline of oil and gas output would make the development of nuclear energy essential. Hubbert's prediction of peaking oil and gas production came to be known as "Hubbert's peak" and spawned the popular and influential theory known as "peak oil".

CaytransBBC has introduced regular sailings of its breakbulk vessels from the Port of Houston Authority's Care Terminal in Houston to Venezuela and Trinidad and Tobago twice a month. The service will load oil and gas supplies out of Care Terminal and discharge in Point Lisas in Trinidad. Trinidad and Tobago is the largest oil producer in the Caribbean, and its natural gas production has increased dramatically in recent years, according to the U.S. Energy Information Administration.

Secretary of the Interior Ken Salazar announced that the next federal oil and gas lease sale in the Gulf of Mexico will occur in New Orleans on August 18, 2010. The Secretary made the Western Gulf of Mexico Lease Sale 215 announcement during a tour of Superior Energy Services. The available blocks in Sale 215 are located from 9 to about 250 miles offshore in water depths of 16 to more than 10,975 feet (5 to 3,346 meters). The Department of the Interior’s Minerals Management Service (MMS) estimates the proposed lease sale could result in the production of 242 to 423 million barrels of oil and 1.64 to 2.64 trillion cubic feet of natural gas.

Secretary of the Interior Ken Salazar announced that, as part of a comprehensive strategy for strengthening the nation’s energy security and reducing America’s dependence on foreign oil, the Obama Administration will expand oil and gas development and exploration on the U.S. Outer Continental Shelf, while protecting fisheries, tourism and places off U.S. coasts that are not appropriate for development. “By responsibly expanding conventional energy development and exploration here at home we can strengthen our energy security, create jobs, and help rebuild our economy,” said Salazar, who joined President Obama at Andrews Air Force Base to make the announcement.

The 2003 workboat construction market had its ups and downs and at best has given mixed signals about 2004 and beyond. Among the various workboat vessel segments, passenger vessels, excluding ferries and inland waterway vessels such as tugs and push boats, are in a static mode. Vessels will be built in 2004, but at a pace constant with years past. Some markets such as the building of patrol boats and other vessels with national security implications appear are sure bet winners for 2004 with several shipyards with large contracts that have deliveries stretched out for two years or more in some cases. Another market that continues to grow is high-speed aluminum passenger ferry and the slower passenger/vehicle ferries.

The Offshore Marine Service Association (OMSA) applauds Congress for its passage of the Security and Accountability for Every (SAFE) Port Act. The legislation contains a key provision that will help reduce the risk of terrorist activity in America’s offshore oil and gas sector. Offshore drilling and production facilities have been vulnerable because there was not requirement for foreign vessels to report security information to the Coast guard when they go to work in offshore areas, according to OMSA. Currently, foreign vessels that call on U.S. ports are required to report information on crewmembers, vessel owners, cargo and the extent of their security plans.