Processed Oil News

Apache Corp was not in breach of contract in a lawsuit brought by Houston-based oil and gas producer W&T Offshore Inc in 2011, a federal jury found on Monday, according to a court filing. The U.S. District Court for the Southern District of Texas has accepted the jury verdict and W&T can file any post-verdict motions by Jan. W&T filed a claim against Apache in 2011, accusing the energy company of breaking the terms of a processing contract and inaccurately recording how much processed oil W&T was owed. Apache on Monday also filed a $31.5 million counter lawsuit, accusing W&T Offshore of breaching the parties' joint operating agreement by refusing to pay its 49 percent share of plugging and abandonment costs for three offshore wells in the Gulf of Mexico.

McDermott International, Inc. has successfully concluded the transportation and installation of a Yoke-type Single Point Mooring tower and hook up to a Floating Storage Offloading (“FSO”) vessel for PT Rekayasa Industri offshore Indonesia in the Banyu Urip field. PT Rekayasa Industri was appointed by Mobil Cepu Limited, an ExxonMobil subsidiary, as one of the engineering, procurement, construction and installation contractors for the field. “PT Rekayasa Industri awarded the contract to McDermott earlier this year,” said Hugh Cuthbertson, Vice President and General Manager, Asia Pacific. The Yoke-type Single Point Mooring Tower is a critical component which enables mooring of the FSO unit at the site.

M3nergy Berhad celebrated the completion of their latest FPSO vessel, Ratu Nusantara, at a launch ceremony at the Keppel Shipyard in Singapore. Under the auspices of SKK Migas and PC Ketapang II Ltd (PCK2L), the newly named vessel will embark on its inaugural voyage for the Bukit Tua oil and gas field in Indonesia operated by PETRONAS. Ratu Nusantara, a converted FPSO, has been constructed from a 1994-built Aframax tanker, 'Scorpius' which was meted out in the last quarter of 2013.

The U.S. Commerce Department has taken a small step toward resolving some two-dozen pending requests to export lightly processed oil this summer, asking energy companies to fill out a one-page questionnaire about their plans, sources familiar with the document told Reuters. The nine questions may help the department map out a further easing of the four-decade old ban on crude exports. In August, the Commerce Department's Bureau of Industry and Security (BIS) sent a standard set of nine questions to companies that had requested rulings on whether they could export an ultra-light oil called condensate, people who had seen the questionaire told Reuters. Those requests have been "held without action" since July, effectively removing any time frame for a decision, Reuters has reported.

Industries Co., Ltd. For many years now, contracts for ships and floating units to operate in an offshore environment have been much-prized value-added goals at Samsung. These include not only shuttle but drill ships, floating storage and offloading units (FSOs), with their derivative production types (FPSOs), crane ships, and various types of floating and fixed platforms. Some of the more interesting ships that have been created here have included a trio of deepwater drill ships for Reading & Bates capable of working in water depths down to 3000m, the 312,500 dwt FPSO Bonga for operating off Nigeria, and the Saibos FDS, a pipelayer/crane vessel with a jib capacity of 600tonnes.