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Oil And Gas Extraction News

04 Feb 2021

Denmark to Build Giant Wind Energy Hub In the North Sea

Illustration: Danish Energy Agency

Denmark has reached a deal on the construction of the first of its kind wind energy hub in the North Sea that promises to produce yet unseen amounts of green electricity, in what has been described as the largest construction project in Danish history.The energy hub - an artificial island - will serve as an offshore power plant gathering and distributing green electricity from hundreds of wind turbines surrounding the island directly to consumers in countries surrounding the North Sea.

12 Jan 2021

Norway Eyes Sea Change in Deep Dive for Metals Instead of Oil

An offshore platform in Norway - Credit:Jone Gundersen/AdobeStock

Norway's oil and gas reserves have made it one of the world's wealthiest countries but its dreams for deep-sea discovery now center on something different.This time, Oslo is looking for a leading role in mining copper, zinc, and other metals found on the seabed and in hot demand in green technologies.Norway could license companies for deep-sea mining as early as 2023, its oil and energy ministry told Reuters, potentially placing it among the first countries to harvest seabed metals for electric vehicle batteries…

16 Dec 2020

Bucher Named CEO at Victaulic

Victaulic appointed Rick Bucher as Chief Executive Officer.

Victaulic appointed Rick Bucher as Chief Executive Officer, succeeding John F. Malloy, effective January 31, 2021. Dr. Bucher was named President of Victaulic in April of 2020, following a June 2019 appointment as Chief Operating Officer. Prior to joining Victaulic in 2009 as Vice President of Engineering, Dr. Bucher worked for 15 years for W.L. Gore, a manufacturer of technologically advanced composite materials. Dr. Bucher received a B.S. and M.S. in engineering from Rice University and a Ph.D. in material science from Virginia Tech.Dr.

22 Oct 2019

ORCA Hub Readies Drones for Offshore Energy

A consortium of five universities, including Heriot-Watt University, working with 35 industrial and innovation partners, has unveiled the latest results from its research collaboration.The largest academic center in the world for research into robotics technology for offshore energy infrastructure, the ORCA Hub’s aim is to advance robotics and Artificial Intelligence technologies for the inspection, repair, maintenance and certification of offshore energy platforms and assets.Creating solutions to some of the most challenging, hard to reach and hazardous real-world problems in the energy sector, ORCA Hub was launched in October 2017.

31 May 2019

UKCS Investments On the Rise

North Sea operators and contractors are investing across people, R&D, technology and new markets to support continued growth, said a new report.The 30th Oil and Gas survey, conducted by Aberdeen & Grampian Chamber of Commerce in partnership with the Fraser of Allander Institute and KPMG UK, pointed out that around 45% of contractors have increased investment spend in the UK Continental Shelf (UKCS) in the past 12 months.Almost half (47%) report they have either started to use artificial intelligence or will do so in the next five years.The survey highlights a welcome trend in R&D investment with the highest proportion of firms reporting…

26 Nov 2018

IMO Launches Global Project to Protect Marine Biodiversity

The GloFouling Partnerships project - a collaboration between the Global Environment Facility (GEF), the United Nations Development Programme (UNDP) and the International Maritime Organization (IMO) -  has been launched.The new international effort to combat the negative environmental impacts of the transfer of aquatic species through ships  will address the build-up of aquatic organisms on a ship’s underwater hull and on other marine mobile infrastructure.The introduction of invasive aquatic organisms into new marine environments not only affects biodiversity and ecosystem health, but also has measurable impacts on a number of economic sectors such as fisheries, aquaculture and ocean energy.

16 Sep 2018

Oil and Gas Fuel Australian Exports

New Australian Bureau of Statistics (ABS) data highlights the important contribution the oil and gas industry and liquefied natural gas (LNG) exports are playing in supporting the ongoing growth of Australia’s economy.According to a press statement from Australian Petroleum Production & Exploration Association (APPEA), oil and gas extraction value-added figures increased by 10.8 per cent in 2017-18 compared with 2016-17, to reach a record $30 billion.APPEA Chief Executive Dr Malcolm Roberts said: “The latest ABS data reaffirms how significant LNG exports are for sustaining Australia’s economic growth and prosperity – these exports are a vital source of strength for the economy.”Data released last month found LNG exports increased by 39 per cent in 2017-18…

09 Apr 2018

Woodward Buys L’Orange from Rolls-Royce

(Photo: L’Orange)

Britain's Rolls-Royce said it had agreed to sell its Germany-based diesel parts maker L'Orange to U.S.-based engineering company Woodward Inc for 700 million euros ($859 million), as part of a plan to simplify its business. Rolls CEO Warren East has been trying to streamline the company during his nearly three years in charge as part of a turnaround plan to counter declines in some of its older aero-engine programmes and plunging demand for oil equipment. The company said on Monday that L'Orange would continue as a key supplier to its power systems business…

16 Mar 2017

EU Lawmakers Reject Call for Ban on Arctic Oil Exploration

© ggw / Adobe stock

The European Parliament rejected a call to ban Arctic oil and gas exploration on Thursday, in a symbolic vote seen as a barometer for future moves by Brussels to regulate to protect the region. Lawmakers who back the ban, which had drawn the ire of Norway, say the European Union needs a strategy for future developments in a region being transformed by climate change. Lawmakers voted 414-180 to reject the non-binding motion calling for the European Commission and member states to work with international forums towards "a future total ban on the extraction of Arctic oil and gas".

30 Nov 2016

ROBA-DS Shaft Couplings Certified by DNV GL for Offshore

The compact and high performance ROBA-DS disk pack couplings by mayr power transmission have been certified by DNV GL. They ensure maximum possible operational and functional safety for users on the high seas. Whether in the drives of ship propellers, mobile platforms such as drilling platforms for oil and gas extraction, or also in tidal power plants – the areas of application for disk pack couplings in the maritime industry are diverse. For example, if the main drive of a ship propeller is an electric motor, then spring steel disk pack couplings such as the ROBA-DS by mayr power transmission provide decisive advantages. These couplings are robust, reliable and temperature-resistant: They are therefore particularly suitable for use in extreme environmental conditions at sea.

25 Jul 2016

Port of Rotterdam Throughput Dips in 2016

Photo: Port of Rotterdam Authority

Compared to the first half of 2015, which saw throughput increased by 6.8 percent, the Port of Rotterdam handled 3 percent less cargo in the first six months of 2016, according to the Port of Rotterdam Authority. The most pronounced decrease could be observed in the dry bulk segment, which slid 9.9 percent. Although the port handled a slightly lower volume of liquid bulk (down 1.1 percent), the volume of crude oil and oil products put through so far in 2016 is still at a historical high. The port’s container throughput (in TEU) decreased by 2.3 percent.

15 Jan 2016

U.S. Freight Volume Dips: Kemp

File image: Barge fleeting operations on the U.S. inland river system (WCI)

Freight volumes in the United States have fallen year on year for the first time since 2012 and before that the recession of 2009, according to the Bureau of Transportation Statistics. The total volume of freight moved by road, rail, pipeline, inland waterways and as air cargo in November 2015 was 1.1 percent lower than in the corresponding month a year earlier. Freight demand growth has been slowing since the start of last year but the slowdown intensified in the second half and November marked the first time that year-on-year growth turned negative.

21 Nov 2015

Second Quake hits North Oklahoma

A magnitude 4.1 quake hit near the north Oklahoma town of Medford on Friday, the second temblor in two days to hit the area where energy extraction takes place. The U.S. Geological Survey said the quake, initially reported as a magnitude 4.6, struck at 4:40 p.m. at a shallow depth of 4.9 miles (8 km) with the epicenter 9 miles (15 km), north-northwest of Medford. There were no immediate reports of major damage or injuries. A magnitude 4.7 earthquake struck northern Oklahoma early on Thursday, rattling residents out of their beds and shaking the ground across a 100-mile (160-km) radius that included the city of Tulsa and the state of Kansas.

26 Jun 2015

UK Seeks Maritime Dominance of Yore

“Britannia rules the waves” paid a glowing tribute to the maritime past of the United Kingdom. Over the past three centuries as the sun began to set on the British power, resilient U.K. with its pioneering characteristics began its voyage of transformation to become a world-class maritime services center, with one of the largest clusters of marine insurance, ship finance, law, classification societies, ship broking, education and consultancy organizations. Significantly, two factors were responsible for this change. The first being marine transport, since it was the only point of access to the British Isles, and the second was the maritime trade and naval power that have had a great impact on the maritime sector influencing the country’s economy for several centuries.

24 Apr 2015

The German Shipbuilding Rebound

Tamsen Shipyard, Rostock: Minehunting vessels  “Herten” and “Homburg” at Tamsen Shipyard.

German shipbuilding has made a significant turnaround. The country’s shipbuilding industry has seen increases in the number of employees, orders and deliveries compared to 2013, according to the German Shipbuilding and Ocean Industries Association (VSM). The special shipbuilding sector drove this growth, as 20 of the 34 delivered new builds could be classified as high-quality special vessels or naval units. Although VSM announces its annual balance officially in May of each year, MR was able to obtain some early insights into the results.

26 Feb 2015

Britain Should Appoint Ambassador to the Arctic

The House of Lords Arctic Committee urged that UK should follow the example set by France, Singapore and Japan and appoint an Ambassador for the Arctic. The committee of lawmakers from Britain's upper house blamed UK's feeble approach to promoting country's interests and warned about the UK risks being outmaneuvered by other countries. The UK – the northernmost country below the Arctic Circle - has been "too hesitant and cautious", the report said. The Committee’s report, responding to a changing Arctic, concludes that momentous and unprecedented change is underway in the Arctic, with temperatures there rising twice as fast as the world average. This will have a massive impact on the region’s environment, ecosystems and people and presents both huge challenges and opportunities.

06 Jun 2014

China's Nine Dash Line and the Law of the Sea: Kemp

Territorial disputes over tiny islands and reefs in the South China Sea are poisoning relations between China and its neighbours in Southeast Asia. "In recent months, China has undertaken destabilising, unilateral actions asserting its claims in the South China Sea," U.S. Defense Secretary Chuck Hagel told an audience in Singapore last month. "(China) has restricted access to Scarborough Reef, put pressure on the long-standing Philippine presence at the Second Thomas Shoal, begun land reclamation activities at multiple locations, and moved an oil rig into disputed waters near the Paracel Islands," Hagel complained at the Shangri-La Dialogue.

04 Jun 2014

RS Holds Offshore O&G Field Development Seminar

On May 27-29, 2014 in Astrakhan, Russia, Russian Maritime Register of Shipping (RS) held a seminar on shipbuilding and offshore oil and gas field development for experts representing RS offices in Russia and abroad. The seminar covered latest amendments to the procedural requirements of the International Association of Classification Societies (IACS) and European Maritime Safety Agency (EMSA) concerning survey procedure, survey of ships, offshore structures and subsea pipelines under construction as well as documentation control. The event took place on the eve of the new phase of the V. Filanovsky field development, RS taking an active part in this project.

15 Feb 2013

Fincantieri Italian Flair Continues to Dominate Cruise Sector

Giuseppe Bono, Fincantieri CEO: “We won basically all the new prototype cruise ships projects in 2012. We have the determination to maintain this excellent result”

In the cruise ship sector, the Fincantieri name is no stranger, having since the early 1900s built some of the most appreciated liners, including the legendary transatlantic Rex, built in Genoa, winner of the Blue Riband in 1933. Nowadays, cruise remains its core and Fincantieri is famous for its gigantic cruise ships; in 2013 the company delivering three. But it has diversified in recent years to ensure its future. Recent studies calculate that the European shipbuilding industry can count approximately on the 7% of new global orders…

23 Jan 2013

Finacantieri STX OSV Acquisition Completed

Fincantieri subsidiary Fincantieri Oil & Gas S.p.A., completes acquisition, intend to buy more shares. This acquisition marks Fincantieri's entry into a market segment complementary to its current ones. With 21 shipyards in 3 different continents, nearly 20,000 employees and revenues of Euro 4 billion, Fincantieri Group will double its size to become the fifth largest shipbuilder worldwide behind four Korean peers, and the only Western producer capable of competing with the Asian giants thanks to its diversification and presence in all of the high value added segments. STX OSV, listed on the Singapore Stock Exchange and world leader in the construction of offshore support vessels for oil and gas extraction and production…

13 May 2013

Power Below the Waves: ABB Subsea Transformers

Subsea Transformer Located in Ă…sgard Compressor Station: Schematic credit ABB

ABB has delivered subsea transformers for fields in the North & Norwegian seas & the Gulf of Mexico for operation at depths of up to 2,000 m. Subsea transformers are an ABB innovation. Deployed in extreme conditions in ultra-deepwater, these high-tech workhorses provide the power for heavy-duty equipment on the sea floor - enabling declining oil and gas fields to be more productive and making new deepwater fields accessible. ABB delivered the world’s first commercial subsea transformers…

17 Mar 2014

Arctic Taskings for the Coast Guard

DNV GL

On January 30, 2014, the White House released the Implementation Plan for the National Strategy for the Arctic Region. The purpose of the Implementation Plan is to put flesh on the bones of the May 10, 2013 National Strategy for the Arctic Region. The National Strategy had identified three lines of effort to address challenges posed by the changing Arctic environment. The Implementation Plan sets forth the methodology, process, and approach for executing the Strategy. Most importantly…

17 Apr 2014

US 2014 Petroleum Production: Why Hubbert was Wrong

Combined production of crude oil, gas and condensates in the United States is on course to a hit a record this year, passing the previous peak set in 1972. The rise in output has confounded the famous forecast made by Shell geologist M King Hubbert who predicted that U.S. oil and gas production would peak in the 1970s and then decline. Hubbert's prediction was contained in a paper entitled "Nuclear Energy and the Fossil Fuels," published in 1956, in which he argued the coming decline of oil and gas output would make the development of nuclear energy essential. Hubbert's prediction of peaking oil and gas production came to be known as "Hubbert's peak" and spawned the popular and influential theory known as "peak oil".