Institute Of Petroleum News

The French Institute of Petroleum IFP Energies Nouvelles (IFPEN) and compatriot multinational integrated oil and gas company Total announced that they signed a strategic R&D partnership yesterday, that includes an agreement to endow a chair at the IFP School, on carbon capture, utilization and storage (CCUS) and technologies to curb CO2 emissions.According to a press note from the energy giant, the roughly EUR40 million partnership covers a period of five years.CCUS aims to reduce the cost of infrastructure and improve the CCUS chain’s energy efficiency to secure its large-scale deployment. The partnership steps up the long-standing collaboration between Total and IFPEN by marshaling additional resources.The research will focus on fields related to new materials…

Clean technology engineering company for the petroleum industry Genoil Inc has signed a tri-partite science, research and technical cooperation agreement with two leading Russian institutions. Genoil has joined forces with the UFA Scientific Research Institute of Petroleum Refining and Petrochemistry, located in Bashkortostan, Russia, and the OJS VNIIUS Institute, located in Tatarstan, Russia to establish a world class partnership. The scope of the agreement is to research, develop and market cutting-edge technologies and patents both in the Americas and globally. The partnership will focus on the petrochemistry, petroleum refining and gas chemistry industries where, through joint co-operation and a wide base of expertise, the parties саn add significant value to client proposals.

Gulf Petrochem has appointed John Phillips as Head of Credit Risk for the Group’s Bunkering division. With over 30 years experience in the Maritime sector, John is a well known expert in the industry and will focus on areas such as Credit Management (focused on Bunker business), Credit insurance & Bunker business development. Before joining Gulf Petrochem, he held the role of Global Head of Credit and Director at Soyuz Bunkering Group (Singapore) Pte Ltd, handling customer selection and promotion as well as liaising with legal departments and insurers on ship arrests and insurance claims. Prior to this, Phillips worked for Chemoil Energy Ltd, where he was responsible for the creation, implementation and management of global credit and counter party risk policy.

The recent crash in oil prices will cause the oil market to rebalance in ways that challenge traditional thinking about the responsiveness of supply and demand, the International Energy Agency (IEA) said in its annual Medium-Term Oil Market Report (MTOMR). The U.S. light, tight oil (LTO) revolution has made non-OPEC production more responsive to price swings than during previous market selloffs, the report said, adding that this would likely set the stage for a relatively swift recovery.

Keppel Corporation Limited (Keppel) is pleased to announce the appointment of Mr Tan Puay Chiang (陈培璋) as Independent Director on the Board with effect from June 20, 2012. Mr Tan, 65, is a veteran in the oil, gas and petrochemicals sector. During his 38-year career with Mobil Oil and later ExxonMobil, he held executive management roles in Australia, Singapore and the United States. These included the positions of Vice-President, Mobil Research & Technology Corp, USA and Chairman & Managing Director of Mobil Oil Australia. Mr Tan retired as Chairman, ExxonMobil (China) Investment Co in 2008. Dr Lee Boon Yang, Chairman, Keppel Corporation, said, "We welcome Puay Chiang to the Board. Mr Tan is a non-executive Independent Director of Singapore Power and Neptune Orient Line.

Tidewater (NYSE: TDW) announced the election of Joseph H. Netherland to its Board of Directors for a term expiring in July 2009. Mr. Netherland served as Chairman of the Board of FMC Technologies from December 2001 until his retirement in October 2008. Mr. Netherland also served as Chief Executive Officer of FMC Technologies from 2001 to March 2007, when he retired as an executive officer of the company. Mr. Netherland was President of FMC Technologies from 2001 to February 2006. Previously, Mr. Netherland served as a director of FMC Corporation from 1998 to 2001 and as Executive Vice President of FMC Corporation from 1998 until his appointment as President. Mr. Netherland was the General Manager of FMC Corporation’s Energy and Transportation Group from 1992 to 2001. Mr.

William J. Sember,ABS Vice President of Offshore Development recently told delegates at the Institute of Petroleum’s Annual Conference in London that the increased popularity of floating production systems for oil production has highlighted the absence of clear and internationally agreed-upon standards for the design, construction and operation of hull structure, process equipment and mooring systems. Source: ABS Offshore News

In contrast to people who may still be hoping to find space on a cruise ship, Dan Zivney knows exactly where he'll be on New Year's Eve. He'll be watching for "Y2K bugs." As project director for Mobil's Year 2000 project, Zivney will be in one of seven regional Mobil incident response centers that will follow the new millennium as it makes its entrance around the world. "Quite frankly, I'm optimistic that our preparedness will reduce or eliminate the work for the response centers," he says. "I want our program to be so successful that the end of 1999 and the beginning of the year 2000 will be remembered as nothing more than a big yawn.

North Sea crude markets held steady mid last week, as a combination of high freight rates and absences at industry functions subdued trade. Dated Brent was assessed near last deal done at April Brent +95 cts, with Brent CFD swaps for this week also in that area. Next weeks CFDs are seen around April Brent +90 cts. Institute of Petroleum week in London is keeping trade to a minimum, as are high freight rates caused by an exodus of older vessels out of Europe in the wake of the Erika spillage off France. Worldscale rate increases of up to 45 percent for North Sea trading Aframax tankers to W200 have been confirmed this week as big oil companies are not prepared to take the risk of chartering old ships. West African crude differentials were steady to lower amid very thin trade.

On October 23, the FBI issued an intelligence update warning state and local law enforcement of recent reporting that Al Qaeda is targeting the U.S. railway and petroleum sectors. Information from debriefings of Al Qaeda detainees as of mid-October indicates that the group has considered directly targeting U.S. passenger trains. The U.S. U.S. economic interests. containers. Recently captured Al Qaeda photographs of U.S. threat. against the global petroleum sector. including oil facilities and nuclear power plants. In addition, the U.S. financial sector and government facilities and installations. physical protections. enhanced rail security measures. well as Amtrak. implementation of enhanced security measures. measures. Administration have implemented additional security measures as well.