US House to Hold Hearing on Oil Export Ban
A House of Representatives panel will hold a hearing on Dec. 11 to explore whether a decades-old law that prohibits the export of crude oil makes sense in an era of domestic energy abundance. The House subcommittee on energy and power, chaired by Representative Ed Whitfield, will hone in on the 1975 Energy Policy and Conservation Act, drafted in response to the 1973 oil crisis. The law prohibited the export of most crude oil…
Strategy Can Maximize UKCS potential
Companies operating in the North Sea require a cultural shift to make the most of the its potential, according to a new report from Deloitte, the business advisory firm. The report, which gauges the oil and gas industry’s reaction to Sir Ian Wood’s Maximising Recovery Review, calls on the new regulator – the Oil and Gas Authority (OGA), the Government and companies operating in the North Sea to adapt to a new reality in the basin.
UniMarine Opens Office in Pireaus
UniMarine announced the opening of its new office UniMarine South Europe & Mediterranean. Located in Piraeus (Greece), the office will be servicing the Southern European and Mediterranean region. The office will be headed up by Mr Spiros Stamou who has been active in the marine lubricants market for many years and brings with him a wealth of experience in this key area of the world for the marine industry .
Jetty Construction near Lorong Halus Jetty, Singapore
From 28 November 2014 to 28 May 2015, work will be carried out for the construction of a jetty near Lorong Halus Jetty. Construction of the jetty will be carried out by piling barge, crane barges and work barges with the support of tug boats. Test piles will be installed by using testing method. This is followed by the permanent marine pile which will be installed by the piling barge or crane barges.
MacGregor's Deck Equipment For Chinese Shipyard
MacGregor, part of Cargotec, has secured a comprehensive deck equipment contract from New Times Shipyard, in China, for Intership Navigation Co Ltd's three new 36,500 dwt Laker-class bulk carriers. The vessels will each feature an optimised MacGregor cargo-handling system comprising MacGregor cranes and hatch covers as well as Hatlapa steering gear and electrically-driven variable frequency drive (VFD) Hatlapa deck equipment.
Rolls-Royce Wins US Marine Corps Contract
Rolls-Royce has been awarded a new, two-year contract to provide aftermarket engine support for the US Marine Corps and Air Force V-22 fleets, which provides a more than 30 percent reduction in support costs. The contract, through the company's innovative MissionCare™ model, is valued at up to $287 million and will cover all V-22 aircraft across the Marine and Air Force fleets. Rolls-Royce is the sole engine provider for V-22 aircraft and has delivered 750 AE 1107C engines to the program.
Zargon Oil & Gas Sells Hamilton Lake Assets
Zargon Oil & Gas Ltd. announces that it has entered into a definitive purchase and sale agreement to sell its Hamilton Lake property for $25 million. Zargon has entered into an agreement to sell its petroleum and natural gas assets in Hamilton Lake for a total consideration of $25 million that is comprised of $22.5 million in cash (before adjustments) and $2.5 million in marketable securities. This transaction is scheduled to close prior to December 31…
PGS Moves Asia Pacific HQ to Malaysia
As a part of the plan to restructure PGS business activities in Asia Pacific the Company has decided to relocate its regional headquarters from Singapore to Kuala Lumpur ("KL"). The move will result in consolidation and centralization of resources and lead to improved competitive advantage and reduced costs, all of which are important in the current challenging market. KL is the hub of the vibrant and active domestic Malaysian exploration and production market.
Gazprom & Eni Close Rank
Sochi hosted today a working meeting between Alexey Miller, Chairman of the Gazprom Management Committee and Claudio Descalzi, Chief Operating Officer of Eni. The parties addressed the main areas of and prospects for enhancing the bilateral cooperation in the energy sector, in particular, the partnership within the South Stream project. It was pointed out that new supply routes would provide European consumers with the required gas volumes over the long run.
Petrobras to Appoint Director
Petrobras’ Board of Directors approved at a meeting today (25 Nov.) the appointment of a director of Governance, Risk Management and Compliance, charged with ensuring process compliance and risk mitigation, including the risk of fraud and corruption, and therefore guaranteeing compliance with laws, norms, standards and regulations, including the rules of the Comissão de Valores Mobiliários (CVM - Brazilian Securities and Exchange Commission) and U.S. Securities and Exchange Commission (SEC).
Woodside to Pick up Moroccan Acreage
Kingdom of Morocco, to explore a block offshore Morocco. depths ranging from 1700m to 4400m. acquired, subject to Ministerial approval, a 25% interest. Commitments under the RL work program include a 2D seismic survey and studies. duration is for 12 months. The grant of the RL is subject to Ministerial approval.
Hoegh Sees Tough Market until 2016-2017
Oslo-listed liquefied natural gas (LNG) shipper Hoegh LNG reported third-quarter earnings below expectations on Wednesday and said its market could remain challenging…
Melbourne Box Pot Lining Up Bidders
Three of Australia's largest infrastructure funds plan to bid for the country's largest container terminal in a sale expected to fetch about A$5 billion ($4.27 billion) for Victoria state, a source with knowledge of the process said on Wednesday. The prospect of three bidders suggests Victoria, Australia's second most populous state, will reap a hefty price for the asset and encourage other Australian states looking to sell a combined A$130 billion of assets in the next 18 months.
Matson Raises 2015 Westbound Hawaii Box Rates
Matson, Inc., a U.S. carrier in the Pacific, announced that Matson Navigation Company, Inc. (Matson) will raise its rates for the company's Hawaii service by $225…
EU: Ships Will Measure CO2 Emissions
Shippers to begin monitoring from 2018; Environmental groups say law is weak, shippers favorable. The shipping sector will for the first time have to monitor its…
Massive LNG Absorber Shipped to Malaysia
Successful transport of 1,480t absorber for biggest LNG plant worldwide in Malaysia. 1,480 tons and a high center of gravity made the transport of an absorber from the Malysian Bintulu port to the Petronas LNG production site a challenging task. Due to the unprecedented tilting stability of the Scheuerle SPMT, the load was transported to the production site safely, despite difficult road conditions and turns.
Glosten Designing Vigor’s Alaska Class Ferries
Seattle-based naval architecture consultancy Glosten has joined the list of North American companies utilizing Nupas-Cadmatic, a CAD/CAM engineering software system…
BMT Supports Samalaju Port Development
BMT subsidiaries in the Asia-Pacific region have been awarded a contract to provide design expertise for an advanced bulk-material handling system for the emerging port of Samalaju in East Malaysia. Samalaju Port is being developed by Bintulu Port Holdings Bhd as part of the Sarawak Corridor of Renewable Energy at an investment of approximately $550 million. Companies involved in silicon, manganese…
Sunken WWII Landing Craft Refloated
LCT 7074, the last known landing craft to survive the D-Day invasion in 1944, has been refloated as part of a project to lift and save the vessel which began in March 2014, almost exactly four years to the day after she had sunk. The vessel, which came out of service at the end of the WWII after numerous deployments to the Normandy beaches, was converted to a naval repair facility for a short while, and then became a floating nightclub berthed in Liverpool from around 1950.
CMA CGM Acquires OPDR
The CMA CGM Group has acquired the German shipping company Oldenburg-Portugiesische Dampfschiffs-Rhederei GmbH & Co. KG (OPDR), CMA CGM founder, chairman and CEO Jacques R. Saadé announced during his visit in Hamburg, Germany on November 25. The closing of the transaction remains subject to the approval of the relevant regulatory authorities. OPDR, a shipping company owned by the Bernhard Schulte Group…