Oil News

25 Mar 2019

Exxon, Chevron Accelerate Shale Production

Graph: Rystad Energy

The two biggest U.S. oil companies Chevron and ExxonMobil plan to significantly ramp up production in the US shale heartland as the oil behemoths are seeking to go from shale to scale in the Permian.Rystad Energy’s shale team analysed as to which operator holds the best potential in the prolific basin spanning parts of Texas and New Mexico and announced that Chevron has the better opportunity to continue to grow post 2030.ExxonMobil will have to drill about twice as many new wells as Chevron to reach the communicated production goal.

24 Mar 2019

Hydrogen Fuel for Zero Emission Cruise Ships

Pic: GE Power Conversion

General Electric’s (GE) Power Conversion business and Nedstack, Dutch fuel cell manufacturer, have entered into a partnership to develop hydrogen fuel cell systems for powering zero-emission cruise vessels.The two companies envisage using this technology on passenger ships, replacing traditional diesel engines with fuel cells, and heavy fuel oil (HFO) with hydrogen."This partnership brings together GE’s recognized expertise in cruise electrical power and propulsion solutions plus system integration capability…

24 Mar 2019

DSGC Joins Forces with Maersk for Biofuel Project

Pic: Maersk

A group of Dutch multinationals including FrieslandCampina, Heineken, Philips, DSM, Shell and Unilever, all members of the Dutch Sustainable Growth Coalition (DSGC), will join forces with A.P. Moller - Maersk on a pilot testing the use of second-generation biofuel.The test is part of an effort by Maersk to reach its net zero CO2 target by 2050 as a tangible step towards the decarbonization of ocean shipping.A pilot, using up to 20% sustainable second-generation biofuels on a large triple-E ocean vessel will sail 25.000 nautical miles from Rotterdam to Shanghai and back on biofuel blends alone…

22 Mar 2019

d’Amico Bullish on Product Tanker Market

Image: d'Amico International Shipping

The outlook on the product tanker market is very positive, said Paolo d’Amico, Chairman and Chief Executive Officer of d’Amico International Shipping .On the demand side, the world product seaborne trade is expected to grow by 3% already in 2019 supported by an expected strong underlying oil consumption growth and by forecasted global refinery capacity additions of 4.9 million barrels a day between 2019 and 2021, he pointed out.In particular, 2019 is expected to be characterized by one of the largest annual increases in refinery capacity in years…

21 Mar 2019

Africa's Preparedness in Oil Spill

Pic:  International Maritime Organization (IMO)

Increased maritime traffic as well as offshore oil and gas industries in west and central Africa means more risks of oil spill in the region, pointed out International Maritime Organization (IMO).To strengthen the capability for preparedness and response of a potential oil spill, a workshop underwent in Abidjan, Côte d'Ivoire (18-21 March).The event aimed to help participants with to ratify and effectively implement IMO conventions relating to oil pollution and liability and compensation, said the UN Body.Participants were trained on how to best transpose IMO treaties into domestic laws.

21 Mar 2019

HMM Intros Scrubber Installation Fund

Photo: From left to right: Young-Jun Yoon (CEO of PANASIA), Jun-Sup Shin (CEO of DSEC), Myeong-Ho Ha (CEO of Hyundai Corporation), Ho-Seon Hwang (KOBC), C.K. Yoo (President & CEO of HMM), Seok-Won Seo (President & CEO of SKTI), Kwang-Hun Ahn (CEO of Hyundai Global Service), and Ki-Cheon Nam (CEO of Multi Asset Global Investments)

South Korean shipping company Hyundai Merchant Marine (HMM) announced that it has signed a memorandum of understanding (MOU) to establish a win-win fund for scrubber installation in preparation for IMO 2020 and to seek cooperation in the shipping-related industries.The total investment amount will be KRW 153.3 billion (USD 135.8 million) which consists of HMM’s investment of KRW 46 billion and the rest of the amount of KRW 107.3 billion (including Korea Ocean Business Corporation’s…

21 Mar 2019

Guyana Build-up Oil Spill Response Capacity

Pic:  International Maritime Organization (IMO)

Guyana is the latest country to benefit from International Maritime Organization (IMO)’s continuing work to strengthen oil spill response capacity in the Wider Caribbean Region.According to the UN body, Guyanese officials from 28 different government agencies, environmental stakeholders, and local industry representatives took part in the Regional Marine Pollution Emergency, Information and Training Centre for the Caribbean (REMPEITC)-Caribe training workshop (18-20 March) funded…

21 Mar 2019

MOSI Anti-Fouling Coatings for Barnacles and Zebra Mussels

Test Articles Before Rinsing. Bio-film development is reduced in both D2 MOSI coating (second from right) and II PVDF (right).
Photo: Courtesy APV Engineered Coatings

Marine organisms such as barnacles and zebra mussels have been a long-standing nuisance to ship hulls, causing exterior damage, increased power and fuel consumption and environmental concerns. While anti-fouling coatings help to prevent biofouling,  a new research study suggests that an innovative approach to marine coatings may solve the problem of barnacle and zebra mussel fouling, an approach stems from the MOSI (Marine Organism Sensory Interference) concept. MOSI uses a unique coating tech to interfere with the sensory ability of juvenile barnacles…

21 Mar 2019

Marine Coatings: Moving with the Tide

Andreas Glud, Group Segment Manager, Marine, Dry Dock, Hempel A/S

The maritime industry has always followed a path of gradual improvement, albeit with many opting to travel the route of least resistance. In some ways, this is a good thing. A cautious approach to navigating change brings stability, assurance and predictability. This measured attitude toward managing change has been fundamental to ensuring that the commercial shipping industry remains the most financially viable transportation solution for moving most goods around the world. But…

21 Mar 2019

The Decommissioning, Marine Life Connection

A common ling, Molva molva, swims amongst an almost coral reef-like habitat created by oil and gas infrastructure. Image from Insite.

Data sharing and better understanding of how marine life interacts with manmade structures is the target for the next phase of the Insite program.What to do with offshore structures is a sticky problem for oil companies, regulators and policy makers alike, as many structures are starting to cease production in the North Sea, where some fields have been producing oil and gas since the early 1970s.Regulations, which include the OSPAR (Oslo Paris convention) state that a clear seabed should be left behind, once production has ceased, with some exceptions (platforms over a certain age and weight).

21 Mar 2019

Wintershall: Expanding Offshore Brazil

BASF's oil and gas subsidiary Wintershall  said it would build up its presence in the Brazilian offshore oil sector this year where it won exploration licences in 2018."It is part of our growth course that we are also active in new regions, and Brazil offers great potential," said chief executive Mario Mehren at the company's annual news conference.First results of seismic measurements in three blocks of the Potiguar basin to be operated by Wintershall are expected by mid-2020, he said.Wintershall, which is due to merge with rival DEA in the first half of this year, would also invest in the expansion of gas and oil in its core regions Russia, Norway, Argentina, the Middle East and Germany, he said. (Reuters reporting by Vera Eckert, editing by Riham Alkousaa)

21 Mar 2019

OP/ED: Smoother Sailing

Jennifer Carpenter, EVP and COO of The American Waterways Operators

Consistent Regulations Critical to Maritime Commerce, American Prosperity.“The ease of moving people and cargo on America’s waterways is a competitive advantage and wellspring for economic prosperity and national security,” states the U.S. Coast Guard’s Maritime Commerce Strategic Outlook, released last fall by ADM Karl Schultz, Commandant. The owners and mariners of the vessels that ply our nation’s waterways, transporting the commodities that power the American economy, are a vital component of that prosperity and security.

21 Mar 2019

Norway Cautious on Indian shipbreaking

Image: NGO Shipbreaking Platform

The Council on Ethics of the Government Pension Fund Global (Oil Fund), Norway's $1 trillion sovereign wealth fund (SWF), said that it will turn its attention towards Indian shipbreaking practices.The SWF cautioned that this may well result in further divestments from shipping companies with poor shipbreaking records.In 2018, the Council on Ethics had already advised the fund to divest from companies, including container line Evergreen, selling their end-of-life vessels to shipbreaking…

20 Mar 2019

Ekofisk Shut Down: North Sea Output to Drop

Image: Rystad Energy

Oil production in the North Sea will drop by 330,000 barrels per day (bpd) month-on-month in June 2019 as Ekofisk closes for planned work, according to Rystad Energy’s latest forecast.“Production is expected to remain stable through April 2019, before dropping 80,000 bpd month on month in May 2019. The decrease will continue in June 2019 with an additional 330,000 barrels per day month-on-month drop, as we expect maintenance at Ekofisk feeding fields to impact output by 220,000 bpd…

20 Mar 2019

Høglund to Supply FGSS for Hurtigruten

Pic: Hurtigruten

Høglund, the marine solutions and system integration company, has been awarded a contract to deliver biogas-ready fuel-gas supply systems (FGSS) for six Hurtigruten passenger ship retrofits.Høglund will work together with HB Hunte Engineering to design and engineer fully customized tank and FGSS solutions for each of the six vessels, optimized to run on both liquefied natural gas (LNG) and liquefied biogas (LBG), according to a press release.Hurtigruten will use Høglund and HB Hunte’s FGSS solutions in tandem with large battery packs onboard its vessels…

20 Mar 2019

INSIGHTS: Peter Stephaich

Peter Stephaich, Chairman & CEO, Campbell Transportation Company

Chairman & CEO, Campbell Transportation Company.Peter H. Stephaich is Chairman and CEO of Blue Danube Incorporated and Campbell Transportation Company. Currently, he is also Chairman of the Board of the Waterways Council, Inc. (WCI). Peter also serves on the Board of Directors of Blue Danube, a position that he has held since 1982. Serving the barge industry for over 30 years in a number of key roles, he also counts among his many qualifications his tenure(s) as Past Chairman and Past Treasurer of the American Waterways Operators (AWO)…

20 Mar 2019

Shearwater Bags Turkey Seismic Contract

Image: Shearwater GeoServices

The global provider of geophysical marine seismic acquisition Shearwater GeoServices has been awarded a seismic acquisition and depth processing contract by Turkish national oil and gas company Türkiye Petrolleri Anonim Ortakligi (TPAO).The survey contract covers an area of 2200 sqkm and includes fast track processing, followed by full time and depth processing, but location not revealed.Work will commence in Q2 2019 and will be conducted by the Polar Empress, said a press release.“We are very pleased to see the Polar Empress contracted by TPAO for this 14-streamer survey…

20 Mar 2019

Maersk Sells Total's Shares

Image: Maersk

Danish business conglomerate  A.P. Møller - Mærsk said it is putting up for sale its shares in the French oil company Total S.A, which Mærsk got in exchange for its oil business Maersk Oil in early 2018.Maersk Oil Trading and Investments (MOTI) is offering its entire stake of 17,272,593 ordinary shares in Total, which represents approximately 0.65% of capital of the French oil giant.The result of this placement with institutional investors will be announced at the end of the transaction…

19 Mar 2019

Neptune Contracts CIMC Raffles, Odfjell Drilling

Pic: CIMC Raffles

Neptune Energy Norge AS has hired the newly built Beacon Atlantic semi-submersible drilling rig for up to 16 wells offshore Norway.The oil and gas producer said in a press release that it has chartered the rig from China’s rig builder CIMC Raffles, and the rig will be managed by the Norwegian offshore drilling specialist Odfjell Drilling.The commencement of the drilling operations is expected to be in Q4 2019 and the estimated duration of the firm program is 400 days. CIMC Raffles…

19 Mar 2019

Mercury Marine Wins iF Design Award

Photo: Mercury Marine

Mercury Marine won an International Forum Design (iF) award in the Discipline Product category, presented to the company for its V-6 outboard lineup. iF International Forum Design organizes the iF Design Awards each year and has thousands of entries from close to 60 countries compete for the prize. Mercury’s 3.4L, V-6 FourStroke outboard lineup was officially launched at the 2018 Miami International Boat Show and has been praised for performance and design. According to its website…

19 Mar 2019

Inert Gas Production for Alfa Laval Training Center

Photo: Alfa Laval

An Alfa Laval Smit Combustion system (FU type) is now installed at the Alfa Laval Test & Training Center in Aalborg, Denmark. The system, which adds inert gas production to the center’s already comprehensive range of full-scale vessel applications, will ensure that Alfa Laval remains at the forefront of developing and optimizing inert gas systems.Inaugurated in 2014, the Alfa Laval Test & Training Center is essentially a full-sized machine room on land, with equipment from all of Alfa Laval’s marine product groups installed in process lines as they would be on a commercial vessel.

20 Mar 2019

Marine Hybrid quietly arrives … positioned to explode

The Harbor Harvest under construction (CREDIT: Robert Kunkel)

Hybrid is not only here, it is growing, and with that growth it will soon reach far beyond coastal applications.For those who were around for the arrival of Y2K, you will remember the anticipation, preparation and perspiration as the maritime world waited for the failure of communications, navigation, security and machinery associated with the digital change of the clock. The forecasts, now historical urban legend, left the world without a digital catastrophe.We wait now for 2020 and the advent of the IMO maritime emissions regulations.

19 Mar 2019

Euronav planning LSFO STS at Malta

File Image: A EuroNav VLCC underway at sea (CREDIT: EuroNav)

Euronav has chartered a tanker to bring a 30,000 tonne cargo of low-sulphur fuel oil from northwest Europe to Malta, where its megatanker, Oceania, has been parked offshore since Jan.

Maritime Reporter Magazine Cover Mar 2019 - Cruise Shipping

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