Oil Industry News

13 Mar 2019

Norway Watchdog Turns Spotlight on Shipbreaking

© Deborah Benbrook / Adobe Stock

The ethics watchdog for Norway's $1-trillion wealth fund will focus this year on shipbreaking on India's beaches, which endangers workers and pollutes the sea and sand.The world's largest sovereign wealth fund, created from the proceeds of Norway's oil industry, operates under ethical guidelines set by parliament.The fund's Council of Ethics checks that companies the fund invests in meet these ethical standards. It set out its latest priorities in its annual report published on Wednesday.Johan H.

11 Mar 2019

US to Lead Oil Supply Growth to 2024

Dr Fatih Birol (center) and IEA Oil Analyst Toril Bosoni (right) present the findings from Oil 2019 in Houston at CERA Week on 11 March 2019 (Photograph: Getty Images)

The United States is set to drive the global oil supply growth over the next 5 years, thanks to the strength of its shale industry, triggering a rapid transformation of world oil markets, according to the International Energy Agency (IEA).IEA said that oil exports from the United States will overtake Russia and close in on Saudi Arabia, bringing greater diversity of supply, by the end of the forecast.While global oil demand growth is set to ease, in particular as China slows down, it still increases an annual average of 1.2 mb/d to 2024, according to the report, Oil 2019.

08 Mar 2019

Vigilance Essential In Indian Ocean "High Risk Area"

Photo: EUNAVFOR

The Round Table of international shipping associations plus the OCIMF representing the global shipping and oil industry have announced the geographic boundaries of the ‘High Risk Area’ for piracy in the Indian Ocean have been reduced, with new advice issued to merchant ship operators.The High Risk Area reflects the area where the threat from piracy exists, whilst recognizing the ongoing containment of pirate attacks in the Indian Ocean. The industry group of shipping and oil industry organisations BIMCO…

07 Mar 2019

Mossel Bay Port Ready to Serve Total

Pics: Transnet National Ports Authority

South Africa’s smallest commercial port, the Port of Mossel Bay is well equipped to provide value following global energy giant Total’s significant gas condensate discovery on the Brulpadda prospects, located on Block 11B/12B in the Outeniqua Basin, 175 kilometres off the southern coast of South Africa, announced Transnet National Ports Authority (TNPA).The authority has dispelled criticism that it may not be ready to answer the call for capacity necessitated by the recent discovery…

24 Jan 2019

DAVOS: Oil Majors Huddle in DAVOS to Mull Future

© Mike Mareen/Adobe Stock

When the global oil industry held its biggest annual gathering this week in the Swiss town of Davos, it invited banking bosses and fund managers to discuss two key topics - climate change and pressure from investors.The conclusion of the discussions was worrying for those present - pressure is rising and the industry is losing a battle not to be seen as one of the world's biggest evils.The answer? Lure investors with higher returns and raise the PR game."There is no doubt - and…

18 Jan 2019

EVAC Acquires Transvac Systems

“The acquisition of Transvac supports our future growth in the navy and offshore sectors where the company has developed excellent customer relationships and a number of important certifications”, said Tomi Gardemeister, Evac Group CEO.

Evac has acquired Transvac Systems, aUK business specializing in the distribution and servicing of wastewater treatment systems, sanitary systems and ballast water treatment systems for ships and offshore platforms.This is in step with Evac's global operations expansion, started with its acquisition of another UK company, Cathelco, in May 2018. Last year EVAC totaled sales of about $182 million.One of Transvac’s key strengths is a long history as a supplier to the Royal Navy in…

17 Jan 2019

Global Piracy Up in 2018, Gulf of Guinea Leads

Pic:  International Maritime Bureau’s (IMB)

Piracy increased on the world’s seas in 2018, with a marked rise in attacks against ships and crews around West Africa, the International Chamber of Commerce’s International Maritime Bureau’s (IMB) latest annual piracy report reveals.Worldwide, the IMB Piracy Reporting Centre (PRC) recorded 201 incidents of maritime piracy and armed robbery in 2018, up from 180 in 2017.The Gulf of Guinea remains increasingly dangerous for seafarers. Reports of attacks in waters between the Ivory Coast and the Democratic Republic of Congo more than doubled in 2018…

11 Jan 2019

US to Become Third Largest LNG Exporter in 2019

Pic: Center for Liquefied Natural Gas (CLNG)

The coming year is expected to make the U.S. the third largest exporter of liquefied natural gas (LNG) in the world, creating jobs stateside while reducing emissions and providing reliable energy to countries around the world, said American Petroleum Institute (API).API, Center for LNG, and LNG Allies, the three national trade associations specializing in U.S. LNG, today issued a first-of-its-kind joint statement on the extraordinary developments expected in U.S. LNG in 2019.Todd Snitchler…

11 Jan 2019

Evac Acquires Transvac Systems

Image: Evac

The cleantech solution company Evac has acquired the  provider of ballast water treatment systems for ships and offshore platforms Transvac Systems.This is another important step forward for Evac who expanded their global operations by acquiring Cathelco, the UK manufacturers of equipment for ships in May 2018.Evac continue to build their reputation on the supply of integrated water and waste management systems for ships, offshore platforms and buildings worldwide resulting in…

26 Dec 2018

Soldier-run PDVSA and AWOL Oil Output

© natanaelginting/Adobe Stock

Last July 6, Major General Manuel Quevedo joined his wife, a Catholic priest and a gathering of oil workers in prayer in a conference room at the headquarters of Petroleos de Venezuela SA, or PDVSA.The career military officer, who for the past year has been boss at the troubled state-owned oil company, was at no ordinary mass. The gathering, rather, was a ceremony at which he and other senior oil ministry officials asked God to boost oil output."This place of peace and spirituality…

19 Dec 2018

Laborde Marine Announces Management Changes

Pic: Laborde Marine Management

New Orleans-based offshore oil industry service provider Laborde Marine Management  announced that Ashton P. Laborde has been appointed as President of the Company effective January 1, 2019. Laborde joined the Company in 2007 and most recently served as Director of Marketing. Throughout his career at Laborde Marine, Ashton has held various positions of increasing importance in operations. The marine company which owns or operates a fleet of 25 vessels also annouced that  John Peter Laborde, III, has joined the Company as Director of Finance.

06 Dec 2018

The Top 10 Maritime Stories for 2018

The M/V Steve Golding transits  through the Olmsted Locks in late July. Called by some stakeholders, 'the Manhatten Project' of civil engineering, Olmsted is finally completed at an enormous cost. (CREDIT: USACE)

Choosing the ‘top stories of 2018’ was, this year, a difficult task. Many compelling story threads played out, dramatically impacting the North American waterfront, and in particular, the workboat sector – each in their own unique way. Read on to find out how and why.Autonomous Vessels: Ready or Not, Here They ComeFuturistic, remote-controlled autonomous marine vehicles aren’t coming. They are here. As the pace of change quickens, autonomous vessels are already providing service and value on the water.

13 Nov 2018

BY THE NUMBERS - Offshore Supply Vessels: Balanced Continued Pressure with Gradual Recovery

Credit: Alix Partners

Global consulting firm AlixPartners, in a new paper entitled, “Too many ships, too few rigs: why recovery is still a distant dream for the OSV sector,” warns that companies counting on a quick return to stability in the OSV sector are in for a rude awakening.The September report goes on to say that OSV companies continue to face pressure due to a radically changed oil industry and must take quick and decisive action in order to survive in what should be considered the ‘new normal.’Separately…

30 Oct 2018

IOPC Funds Is Now 40!

 The Secretariat is reporting on financial matters this morning. Pic: IOPC Funds

The International Oil Pollution Compensation Funds (IOPC) have provided help in 150 oil spill incidents since its inception in 1978. Denmark has been a member of these crucial organisations since the beginning.According to a release from Danish Maritime Authority (DMA), IOPC-funds began with the Torrey Canyon oil spill disaster in 1967, which clearly demonstrated the need for an effective international regime to pay for the massive damage caused by major oil spills.Director, Maritime Regulation and Legal Affairs in the DMA…

29 Oct 2018

Corpus Christi Port to Build Oil Export Terminal

Photo: Port of Corpus Christi

Port to build oil export terminalPrivate equity firm Carlyle Group will partner with the Port of Corpus Christi, the top oil export hub in the United States, to develop a major crude oil export terminal on Harbor Island.Carlyle's announcement comes as infrastructure in the U.S. oil industry struggles to keep up with record levels of production, driven by the Permian shale patch in West Texas. Both international buyers and American producers are waiting for export capacity to increase.Corpus Christi has its own plan to expand operations to handle larger export tankers.

25 Oct 2018

Maritime Rule Change Stirs Fears of Diesel Shortage: Kemp

© dbvirago / Adobe Stock

The International Maritime Organization (IMO) has so far resisted pressure to soften or postpone the implementation of new regulations requiring ships to use bunker fuels with a lower sulphur content from the start of 2020.That has prompted warnings from some analysts that the regulations will squeeze the availability of low-sulphur diesel and jet kerosene required by trucks, trains, aircraft, farmers and industry, resulting in big price increases.The regulations and any associated rise in fuel prices will occur in the run up to the next U.S.

23 Oct 2018

Kvaerner Eyes Growth, Mergers as Profits Decline

Kvaerner, a Norwegian builder of oil platforms, aims to increase its revenue by some 40 percent by 2022 by expanding abroad, the company said on Tuesday after reporting a sharp decline in third-quarter earnings that drove down its shares.Kvaerner's quarterly earnings before interest, tax, depreciation and amortization (EBITDA) fell to 76 million crowns ($9.19 million) from 245 million crowns a year ago."In a period where some recently awarded projects are not yet recognising margin and with less effects from milestones and incentives in other projects, this influences EBITDA and margins, as ex

17 Oct 2018

Wintershall CEO Meets Norwegian Prime Minister on Growth Plans

Photo: © Wintershall/Bernd Schoelzchen

Mario Mehren, CEO of Wintershall, Germany's largest crude oil and natural gas producer, has presented Wintershall’s growth plans in Norway during a visit by Norway's Prime Minister, Erna Solberg, to Berlin.Mehren announced a further increase in production during a discussion with the Prime Minister and representatives of German energy politics and the energy industry, which was held at the Norwegian Embassy."It has become clear during the last few weeks that Wintershall and DEA will become the company Wintershall DEA within the next year.

10 Oct 2018

Chevron becomes first oil major to exit Norway

© Marius Dobilas / Adobe Stock

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.

09 Oct 2018

New Book Release: Why Only Two FPSOs in the U.S. Gulf of Mexico?

The Late Start and Twenty Year Saga.More than 40 years have passed since the trailblazing Shell Castellon started operation as the first floating production storage and offloading (FPSO) unit in 1977. Ever since, hundreds of these vessels have operated worldwide, and the oil industry has reaped their benefits. Despite continued international popularity and dominance, compelling advantages, and technological advancements, the adoption of FPSOs has faced particular challenges in the U.S. Gulf of Mexico, where there have been only two FPSOs to date.

05 Oct 2018

INSIGHTS: Thomas S. Chance, Chief Executive Officer, ASV Global

Thomas S. Chance, Chief Executive Officer, ASV Global

Thomas Chance founded C & C Technologies in his home in 1992. Today C & C is a global oil field surveying and mapping company with more than 550 employees in ten offices worldwide. C & C was the first company in the world to offer autonomous underwater vehicle (AUV) survey services to the oil industry and remains a world leader in the field. In April of 2015, he sold C & C Technologies to Oceaneering International. Complementing the autonomous underwater vehicle business, Mr. Chance started Autonomous Surface Vehicles, Ltd., or ASV, in 2010.

28 Sep 2018

Dynamically Positioned for the Future

Texas A&M students training with Kongsberg DP simulation equipment. (CREDIT: TAMUG)

OSVDPA accredits Texas A&M Maritime Academy to provide dynamic positioning (DP) training to its cadets.In early September, the Offshore Service Vessel Dynamic Positioning Authority (OSVDPA) announced that the Texas A&M Maritime Academy at Texas A&M University at Galveston was now the first maritime academy in the nation accredited to provide OSVDPA courses to its cadets. For any U.S. maritime academy, most if not all of them traditionally focused on sending out graduates ready for blue water, deep water service, this represents a sea change in training.

25 Sep 2018

Guyana Puts Oil Auctions on Hold

(File photo: Hexx Corp)

Guyana has put planned oil auctions on hold as the impoverished South American country works to establish a Department of Energy to oversee the energy boom, Minister of State Joseph Harmon said on Monday.Since 1999, Guyana has awarded a group led by Exxon Mobil Corp hundreds of oil blocks along Guyana's maritime borders with Venezuela and Suriname. Their finds are turning Guyana, a country with no history of oil production and relaxed energy regulation, into one of Latin America's hottest prospects for oil investments.Exxon…

Maritime Reporter Magazine Cover Mar 2019 - Cruise Shipping

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