Energy Treasure Chest Sea of Okhotsk is Russia's, UN Finds

MarineLink.com
Wednesday, March 19, 2014
Sea of Okhotsk area image courtesy of NOAA

A United Nations commission has officially recognized the Sea of Okhotsk enclave, off Russia’s southeastern coast, as part of the country’s continental shelf, informs Ria Novosti citing the Russian minister of natural resources.

Russia will get exclusive rights to the area of 52,000 square kilometers, considered by the government to be an Ali Baba’s cave containing reserves of valuable minerals and other natural resources.

The recession of Arctic sea ice in recent years due to global climate change has led to increased international legal maneuvering over the rights to exploit the region’s vast untapped hydrocarbon reserves.

Moscow sent a request in 2001 for the entire continental shelf, including the Arctic shelf, which the UN rejected demanding more data and evidence that the area is the natural continuation of the Russian territory.

Source: Ria Novosti

 

 

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter July 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Legal

Daewoo Shipbuilding: $1.4 bln order Cancelled

Cancelled order part of Statoil's Bressay project. South Korea's Daewoo Shipbuilding & Marine Engineering Co Ltd on Friday said a 1.58 trillion won ($1.41 billion)

Gener8 Maritime Net Income Up 91%

Announcing its financial results today for the three and six months ended June 30, 2016 Gener8 Maritime, Inc. reported net income of $38.0 million, or $0.46 basic and diluted earnings per share,

Navios Maritime Posts 2Q Profit

Navios Maritime Midstream Partners LP (NAP) has reported second-quarter earnings of $5.9 million.   It says revenue for three month period ended June 30, 2016 increased by $4.

Energy

Daewoo Shipbuilding: $1.4 bln order Cancelled

Cancelled order part of Statoil's Bressay project. South Korea's Daewoo Shipbuilding & Marine Engineering Co Ltd on Friday said a 1.58 trillion won ($1.41 billion)

Asia Tankers-VLCC Rates Falter on Oil, Tanker Supplies

MidEast, West Africa rates hit 11-month low. Freight rates for very large crude carriers (VLCCs), which hit an 11-month low this week, could slide further next

Gener8 Maritime Net Income Up 91%

Announcing its financial results today for the three and six months ended June 30, 2016 Gener8 Maritime, Inc. reported net income of $38.0 million, or $0.46 basic and diluted earnings per share,

Government Update

China, Russia Navies to hold S. China Sea Drills

China and Russia will hold "routine" naval drills in the South China Sea in September, China's defence ministry spokesman Yang Yujun told a news conference on Thursday.

India Govt, Cochin Shipyard Pact on FY17 Growth Targets

Cochin Shipyard Limited (CSL) has entered into a Memorandum of Understanding (MoU)  with the government of India for the ongoing fiscal under which targets agreed

Cambodia Urged ASEAN to Avoid Words That Escalate Tension

Cambodia advised a grouping of South East Asian nations to avoid using words that "would escalate tension between China and the Philippines" in a weekend statement,

Offshore Energy

Damen PSV for Wilson Sons Ultratug Offshore

Wilson Sons Ultratug Offshore, a joint venture between Wilson Sons and the Chilean maritime services provider Ultramar, has taken delivery of a Damen PSV 5000.

VARD Bags Three-vessel Contract

Vard Holdings Limited (“VARD”), one of the major global designers and shipbuilders of offshore and specialized vessels secured a contract for the design and construction

Det Norske to Restore Production at Alvheim after Leak

Norwegian oil firm Det norske said it expected to reach full production at its Alvheim FPSO (floating storage, offloading and producing unit) overnight after a leak,

 
 
Maritime Contracts Maritime Security Maritime Standards Naval Architecture Navigation Pipelines Salvage Ship Simulators Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0686 sec (15 req/sec)