North Sea Oil Production May Go Down
On top of production declines in Iran and Venezuela, ongoing OPEC cuts, Urals contamination outages in Russia and maintenance in Kazakhstan, North Sea production is also struggling, Rystad Energy said."Currently we see unplanned outages at Oseberg and Flotta with combined impact of 160,000 bpd. Furthermore, the North Sea is heading into maintenance season," said the energy research and business intelligence company."We forecast North Sea oil production to drop next month to the lowest level since August 2014 as Ekofisk goes into maintenance…
Oil Price Risks Rise
Supply disruptions in the Middle East on top of an already tight crude market could send oil prices violently upward, said the energy research firm Rystad Energy.Two Saudi Arabian oil tankers were reportedly attacked off the coast of the United Arab Emirates this weekend, sending crude futures up sharply May 13.Bjørnar Tonhaugen, Head of Oil Market Research at Rystad Energy, says: “In the short term, the perceived risk of supply disruptions from the area will only add to the premium of short-dated oil contracts compared to deferred contracts on the futures curve…
Oil Shipments from Georgia's Batumi Port Drop
Oil and oil-related shipments from Georgia's Black Sea port of Batumi dropped 24 percent in the first four months of 2019 from a year earlier, an official at a KazMunaiGas-operated terminal at the port said on Wednesday.Shipments of crude oil and refined oil products from Batumi have fallen in recent years, partly because Azerbaijan prefers to send its oil through the Baku-Tbilisi-Ceyhan pipeline or via its own terminal at the Georgian port of Kulevi, rather than from Batumi, which is operated by a Kazakh company.There were no shipments of crude oil, naphtha, jet fuel or vacuum gasoil from Batumi in January-April, the official, who did not want to be identified…
DP World to Invest in Kazakhstan Ports
The global port operator are in discussions with Kazakhstan government to invest in new infrastructure in the country’s ports and logistics sectors.The potential of DP World investing in new infrastructure in Kazakhstan’s ports and logistics sectors was the focus of discussions between global trade enabler DP World’s Chairman and CEO Sultan Ahmed Bin Sulayem and Kazakhstan’s Prime Minister H.E. Askar Mamin in Astana today.This follows the signing of two framework agreements with…
Oil Shipments from Georgia's Batumi Port Drop 51 pct in 2018
Oil and oil-related shipments from Georgia's Black Sea port of Batumi fell 51.2 percent in 2018 from a year earlier, an official at a KazMunaiGas-operated terminal at the port said on Thursday.Some crude oil was re-routed to the Baku-Tbilisi-Ceyhan pipeline and to the Caspian Pipeline Consortium last year, the official added, while some fuel oil was sent to the port of Taman in Russia and Georgia's other Black Sea port of Kulevi.The fall in shipments is partly because Azerbaijan prefers to send its oil through the Baku-Tbilisi-Ceyhan pipeline or via its own terminal in Kulevi, rather than from
CPC Marine Terminal Loads 500 MT of Kazakh Oil
Half a billion tones of oil delivered by Kazakhstani Shippers to the Tengiz-Novorossiysk crude pipeline since the commencement of operation of CPC pipeline system was lifted from the Marine Terminal of Caspian Pipeline Consortium on November 17, 2018.The “milestone” ton was loaded on the ALEKSEY KOSYGIN tanker, said a press release from the CPC pipeline system, which mainly collects crude oil from large oil fields of West Kazakhstan, as well as crude oil from Russian producers.The first tanker was loaded at CPC Marine Terminal near Novorossiysk (near Yuzhnaya Ozereevka.
LNG Investment Set to Grow
Following years in the pricing doldrums, LNG is hot again, with business prospects for floating production and regasification looking strong through 2023. We talk to Jim McCaul of International Maritime Associates (IMA) for his insights, as he is fresh off of a 12-month stint investigating the market in depth."We wanted to take a fresh look at the market, to identify opportunities both in the production and regassification of LNG" is how McCaul, founder of IMA, best describes his team’s 12-month effort to study and report on the industry.
Port of Hamburg, Metrans Group Join for Intermodal
The Port of Hamburg and Metrans Group are intensifying their links with Lithuanian Railways. Axel Mattern, Joint CEO of Port of Hamburg Marketing, and Egidijus Lazauskas, Deputy Director-General and Director Freight Traffic for Lithuanian Railways, have signed a Memorandum of Understanding in Vilnius to strengthen cooperation on the routes to and from the Port of Hamburg.In addition, Hamburger Hafen und Logistik AG - HHLA’s intermodal subsidiary Metrans, and Lithuanian Railways signed a Letter of Intent to promote and improve cross-border freight flows.For years…
LNG Report: Floating Liquefaction & Regasification
International Maritime Associates has completed a 12-month study of the global market for floating gas liquefaction plants and floating LNG regasification terminals. The 150+ page study, published by World Energy Reports, is the most detailed analysis yet made of this growing business sector. Project Success EvaluationThe IMA study is the first professional effort to systematically look at the universe of FLNG and FSRU projects in the planning stage – and categorize the likelihood of each making the development investment hurdle.
Chevron becomes first oil major to exit Norway
U.S. oil firm Chevron will become the first oil major to formally exit the Norwegian continental shelf (NCS) as it transfers its last stake in an exploration license, according to a government letter.Oil majors, including Exxon Mobil, BP and Shell, have scaled down their presence in Norway by selling or merging their assets in the mature region to focus on new growth opportunities elsewhere.Chevron is also seeking to sell assets in the British North Sea in order to focus on growing U.S.
IMA Completes 12-month Study of the Floating Liquefaction and Regasification Market
International Maritime Associates has just completed a 12-month study of the global market for floating gas liquefaction plants and floating LNG regasification terminals. The 150+ page study, published by World Energy Reports, is the most detailed analysis yet made of this growing business sector.Project Success EvaluationThe IMA study is the first professional effort to systematically look at the universe of FLNG and FSRU projects in the planning stage – and categorize the likelihood of each making the development investment hurdle.
Sovcomflot and ABB Open Training Center in Russia
The new Vessel Electric Propulsion Training Center at the Admiral Nevelskoy Maritime State University in Russia will help to prepare seafarers for work on vessels equipped with Azipod propulsion systemsThe center will be used to train MSUN cadets, as well as to provide advanced training to commissioned officers of the merchant fleet. It is also planned to conduct research, including scientific and experimental activities, in the area of automation of electric propulsion and vessel power supply.The establishment of the center follows the trilateral research…
Japan, Russia Join for Trans-Siberian Rail Transportation
Japan and Russia plan to officially develop a freight transport route between the two countries via the Trans-Siberian Railway, the Yomiuri newspaper reported.The report said that the two governments aim to foster mutual economic cooperation by energizing the “third distribution channel,” after sea and air routes.Now cargo between Japan and Russia are delivered mainly either by air or by sea. According to the Japanese Ministry of transport, terms of delivery of goods by sea ranged from 53 to 62 days.
Kuryk Port Opens New Ferry Complex
Kuryk port, located in the Mangystau region of Kazakhstan, has opened its new ferry complex.Officials of relevant government agencies and representatives of private companies from Georgia, Turkey, Turkmenistan, Iran, China, Russia, Uzbekistan, Tajikistan, Kyrgyzstan and Azerbaijan attended the event with the participation of the President of Kazakhstan Nursultan Nazarbayev.The Kuryk port is located on the Trans-Caspian International Transport Route and plays an exceptional role in increasing freight traffic in this direction.
Beele Engineering Develops Fire Safe Plastic Transit System
Beele Engineering has developed a new range of HE plastic transit sleeves and frames to provide for the reliable and comfortable transit of cables and pipes and to provide for a fire-resistant, gas, smoke and watertight seal. The new transit sleeves and frames form part of the NOFIRNO system technology and can be used in various ways, including in sandwich panels.The HE plastic version enables Beele Engineering to offer solutions that are not only fire safe, but also light-weight.
Caspian Littoral States Sign Environment Protocol for the Sea
Littoral countries to the Caspian Sea have made a groundbreaking commitment to evaluate the likely impact that development projects will have on the environment in each other’s states.High-level representatives from Azerbaijan, Iran, Kazakhstan, the Russian Federation and Turkmenistan today signed the Environment Impact Assessment Protocol under the Tehran Convention.Under the Protocol, countries must follow a set of harmonized practical procedures for assessing the impact that a project will have on the environment in another state.Impacts on human health…
Event on Oil Spill Preparedness in Caspian Sea
How to implement the Aktau Protocol on regional preparedness, response and cooperation in combating oil pollution incidents was the subject of a workshop in Baku, Azerbaijan this week (18-20 June). The event brought together the five littoral states (Azerbaijan, Islamic Republic of Iran, Kazakhstan, Russian Federation and Turkmenistan) of the Caspian Sea to test the Caspian Sea Plan concerning regional cooperation in dealing with oil pollution in cases of emergency, and guidelines on future regional oil spill exercises were developed.
HEECO Eyes New Markets for Expansion
The Humber Electrical Engineering Company (HEECO) in the United Kingdom has consolidated its marine presence and developed into new oil and gas markets.The Hull-based electrical manufacturing business is known for the design and build of switchboards, motor control centers (MCCs) and control panels for the marine and energy sectors as well as the programming of Programmable Logic Controllers (PLCs) and the provision of electrical design solutions.Celebrating its 110th anniversary this year…
Monitoring and Enforcement of Ballast Water Convention
Identifying organisms and microbes in ballast water, as well as monitoring port marine life where ballast water may be released, are key for countries preparing to enforce International Maritime Organization (IMO)'s Ballast Water Management Convention. The treaty entered into force globally on 8 September 2017 and aims to counter the threat to marine ecosystems by potentially invasive species transported in ships' ballast water. A regional workshop in Batumi, Georgia (3-5 July)…
ABB Ability Lands Deal for Nine Heavy Lift Vessels
ABB Ability Marine Advisory System – OCTOPUS marine software will map the safest and most efficient routes for a fleet of heavy lift vessels servicing the expansion of a giant oil field in Kazakhstan.ABB has secured a series of contracts for nine heavy lift vessels transporting modules for the Tengiz oil field expansion by Tengizchevroil (TCO). OCTOPUS will enhance the safety and efficiency of the heavy-lift vessels carrying out the transportation work by indicating the optimal route based on weather and forecasted vessel motions.TCO has contracted China’s biggest shipping company…
Shipping Traffic on Turkey's Bosphorus Suspended Due to Fog
Traffic on Turkey's Bosphorus Strait, an important international shipping lane for oil and grain, was suspended on Wednesday due to poor visibility from dense fog, shipping agent GAC said. Vessel traffic was suspended at 3:52 p.m. (1252 GMT). The Bosphorus is one of world's most important choke points for the maritime transit of oil, with more than 3 percent of global supply - mainly from Russia and the Caspian Sea - passing through the 17-mile waterway connecting the Black Sea to the Mediterranean. It is also used by vessels carrying grain from Russia and Kazakhstan to world markets.
Jan-March Oil Shipments from Georgia's Batumi Down 54 pct
Oil and oil-related shipments from Georgia's Black Sea port of Batumi fell 53.7 percent between January and March from a year earlier, an official at the KazMunaiGas-operated terminal said on Wednesday. The official said some volumes of crude oil had been rerouted to the Baku-Tbilisi-Ceyhan pipeline and to the Caspian Pipeline Consortium this year, while some fuel oil had been sent to the port of Taman in Russia and Georgia's other Black Sea port of Kulevi. About ten Batumi terminal…
Turkmenistan Seeks to Tap into East-West Cargo Flows with New Seaport
Turkmenistan on Wednesday opened a new $1.5 billion cargo and passenger seaport on the Caspian Sea aiming to boost its export revenues by handling shipping traffic between Asia and Europe.The Central Asian country's main source of hard currency is its gas exports, which took a hit when Russia, once its main customer, stopped all purchases in 2016 after a pricing dispute.The port, in the city of Turkmenbashi, will more than triple Turkmenistan's cargo handling capacity to 25-26 million tonnes a year…