Oxy News

As oil exploration and production goes, so goes the market for Offshore Service Vessels (OSVs) and Platform Supply Vessels (PSVs). Throughout 2025, the prices of oil- which drives exploration and production (E & P), have softened, moving down towards $60/barrel amidst economic uncertainty and a wider than anticipated opening of the taps by major oil producers. In the past year, the Baker Hughes overall count of U.S. rigs working has declined. September 2025’s U.S. Rig count of…

Esgian provides an update on the second round of jackup suspensions in Saudi Arabia in its Week 32 Rig Analytics Market Roundup.Report SummaryContractsArabian Drilling has confirmed that Saudi Aramco has initiated discussions with the drilling contractor over the suspension of an additional leased offshore rig, following an initial round of contract suspensions that began earlier this year. Arabian Drilling has not stated which of its jackups is the target of the current suspension discussions.ADES does not expect new contract suspensions for its fleet by Saudi Aramco this year.

Esgian provides an update on exploration drilling in its Week 25 Rig Analytics Market Roundup.Report SummaryDrilling Activity and DiscoveriesOslo-listed BlueNord announced on Monday the start-up of drilling operations on the Harald East Middle Jurassic well (HEMJ) in the Danish North Sea.Occidental Petroleum (Oxy) encountered non-commercial hydrocarbons at the Orange #1 exploration well on Mississippi Canyon Block 216 in the US GOM and the well has been plugged and abandoned.

Esgian reports another busy week filled with a variety of updates, including new offshore acreage offered in the UK, Norway and Nigeria, in its Week 19 Rig Analytics Market Roundup.Report SummaryContractsADES Holding Company has received a direct award of a contract from Suez Oil Company (SUCO) in Egypt. The SUCO award in Egypt’s Gulf of Suez is for a firm 21-month term expected to start in the coming weeks.Noble 492-ft jackup Noble Innovator has been awarded a one-well extension with bp in UK waters at a dayrate of $145…

Carbon capture and storage has emerged as flashpoint at the UN climate conference in Dubai about how big a role it is destined to play in reaching the target of net zero emissions.It has also prompted an unusual and bad-tempered confrontation between senior officials at the International Energy Agency (IEA) and the Organization of the Petroleum Exporting Countries (OPEC).In the run up to the conference, the IEA called on oil and gas producers to let go of "the illusion that implausibly…

Offshore drilling rig reactivations have begun as utilization and dayrates continue their rapid recovery, Esgian's Teresa Wilkie writes.We expected it to happen just not necessarily this soon. But now it’s official, several cold-stacked rigs are about to be reactivated for new jobs in the Golden Triangle, and Valaris is taking the lead. Just last week, the driller confirmed that it will reactivate 6th generation, ultra-deepwater drillship Valaris DS-4 for a minimum 580-day deal with Petrobras Brazil.

With much of North America still reeling from the pandemic, HGG Profiling Equipment continues to grow, responding to immediate and anticipated customer demand for profile-cutting machinery. Since opening its new 6,500-square-foot facility in Houston in this spring 2020, HGG has added an area manager to its sales and support team, three new customer service and support specialists, and two new service technicians.HGG recently expanded its North American sales coverage by adding Todd Wellens as Area Manager for eastern and midwestern US and Canada…

The Ship Recycling project at the Turku Repair Yard in Naantali in Finland has been completed.In the three-year project, funded by Tekes, six vessels were dismantled and recycled on an experimental basis. The background of the project is the EU Ship Recycling Regulation, which states that after 2018, EU-flagged or European-owned vessels can only be recycled on shipyards approved for that purpose.In the past, majority of the world’s fleet has ended up being scrapped in Asia under conditions that do not meet European safety and environmental standards. There is a growing need for sustainable ship recycling in Europe due to tighter requirements…

Occidental Petroleum Corp provisionally chartered a supertanker to ship U.S. crude to South Korea for a new record of $13.25 million in November, three shipping sources familiar with the matter said on Monday.The Very Large Crude Carrier (VLCC) Maran Andromeda was chartered by Occidental on Friday for an estimated November 20 departure, according to one shipbroker and Refinitiv Eikon shipping data.Global shipping rates, and in particular U.S. Gulf Coast to Asia, have skyrocketed after the United States in late September imposed sanctions on two units of China's COSCO, alleging involvement in ferrying crude out of Iran.U.S. Gulf Coast exporters have held back on chartering COSCO-linked vessels and scrambled to replace those already on charter over the past two weeks…

The Port of Corpus Christi lives up to its moniker ‘Energy Port of the Americas,’ as the movement of energy in and out dominates the port’s history and future. John P. LaRue, Executive Director, Port Corpus Christi recently visited Maritime Reporter’s headquarters in New York to discuss the nearly $50 billion in investment projects driving the port forward. “Let’s just start with what we are and what we are not,” said LaRue. “We are not a container port. Up until a few years ago we were an oil import port (serving) three refineries: Citgo, Valero and Flint Hills Resources.

In 1940, Jack Walters, Sr. started manufacturing oxy-fuel cutting tips in a makeshift workshop in his home. As the demand for materials and manufacturing brought on by World War II increased, Walters started American Torch Tip Co. (ATTC) in a small, rented garage in Pittsburgh, Pa. Seventy-five years later, ATTC’s manufacturing plant and headquarters now occupy approximately 72,000 sq. ft., spanning three buildings in Bradenton, Fla. There, the company produces about 20,000 parts, encompassing five welding technologies including Plasma, MIG, TIG, Oxy-Fuel and Laser.

ESAB Cutting Systems introduces Crossbow, a compact oxy-fuel/plasma CNC cutting system that is portable and economical. According to ESAB , the machine’s size and weight make it easy to transport as the application requires. Automated functions and a user friendly CNC provide powerful, versatile, oxy-fuel or plasma processing in a value-minded package. Crossbow is suited for trade schools, small fabrication shops, maintenance and repair shops, or for portable use within large facilities or at construction sites.

ESAB Welding & Cutting Products announces the release of Columbus III version 1.2, a powerful CAD/CAM programming and nesting software optimized for plasma, oxy-fuel, laser and waterjet cutting. This latest version of Columbus III offers many new features and updates to make programming easier and more efficient, improve material utilization, increase productivity, and streamline workflow. The new release provides improved CAD functionality with a standard shape library that makes it easier and faster to create part programs using an extensive collection of predefined part geometries.

Inventive steel processing companies provide the backbone for infrastructure, transport, shipping and consumer goods sectors. One such company, Ferrocut Australia, was called on by the Royal Australian Navy’s Australian Submarine Corporation (ASC) Air Warfare Destroyer (AWD) Shipbuilder program, to provide steel plate cutting services and support for the life of the warship-building project. Ferrocut, a South Australian plate profiling business, specializes in offering oxy, plasma and laser cutting…

Miller Electric Mfg. Co. announced that it has consolidated the Smith Equipment oxy-fuel cutting equipment product line under the Miller brand. The consolidation expands the current Miller metal cutting offering, which includes a variety of portable plasma cutting packages. The oxy-fuel product line will continue to be manufactured in Watertown, S.D., to the same high quality standards. The only difference is that the name on the product will change to Miller, the company said.

The American Club has issued an urgent alert to its members about the operation of oxy-acetylene equipment without flashback arrestors. This results from a recent casualty leading to a claim and through recent survey inspections, and the club’s managers describe the use of such equipment without fitment of flashback arrestors as “extremely dangerous.” Members are encouraged to check that all such equipment on their vessels is being kept in good condition and operated safely. In particular…

ESAB Cutting Systems introduces the Vision T5c Control for retrofit onto cutting gantries. This updated version of ESAB’s Vision T5 CNC is re-packaged for quick and easy installation in place of existing Vision controls on ESAB cutting gantries. Designed for ease of use and improved productivity, the Vision T5c features an ergonomic, wide-screen layout and an advanced touch-screen interface that offers twice the display area of other CNC controls, as well as unique process control features designed to simplify operation and boost productivity.

The Ports of Los Angeles and Long Beach have selected seven local maritime and cargo companies as this year’s recipients of the Clean Air Action Plan Air Quality Awards, an honor presented to those taking extraordinary measures to cut air emissions, modernize facilities and implement innovative operations to reduce air pollution. “These partners have shown a real commitment to cleaner and greener port operations, going above and beyond what is required,” said Port of Los Angeles Executive Director Geraldine Knatz, Ph.D. “The Clean Air Action Plan awards are a fantastic way to put a spotlight on the oftentimes unheralded efforts of the goods movement industry to meet and exceed air quality goals…

Titan Salvage has safely removed the partially submerged Washington Gantry crane and other navigational hazards from Port-au-Prince, Haiti for the U.S. Transportation Command (USTRANSCOM). The company's work helped to re-establish port infrastructure and significantly increase the volume of marine cargo into Haiti following the devastating earthquake in January. The largest and most hazardous obstruction removed was a 300-metric ton gantry crane, which was partially submerged and listing towards the harbor at approximately 15 degrees, blocking access to the northern dock.

Exploration of the offshore blocks in Bahrain are part of Occidental Oil & Gas's (Oxy) goal of expanding its position in the Middle East and North Africa, according to the Oxford Business Group’s (OBG) report: Bahrain 2008. This report is the latest of the firm's annual business publications. Exploration of Blocks 3 and 4 is a joint venture between Occidental Oil & Gas and the Bahrain Petroleum Company (Bapco)Bahrain Petroleum Company (Bapco). The Bahrain 2008 report is a guide to the many facets of country, including its macroeconomics, infrastructure, political landscape, banking and sectoral developments. The publication, with an international distribution of 73…

Nichols Brothers Boatbuilders are building a highspeed catamaran ferry for San Francisco's Golden Gate Bridge, Highway and Transportation district. Designed by International Catamaran Designs (INCAT) of Sydney Australia, this will be Nichols Brothers 27th U.S. built highspeed catamaran. The vessel will be 139 ft. overall with a 34-ft. beam and draft of 9 ft. The individual hulls will have a beam of 9 ft.. A 37-knot speed is predicted with four 16-cylinder Cummins KTA50-M2 main engines delivering 1,600 hp each at 1800 rpm. Each IMO emission certified engine will drive a Hamilton model 571 water jet through a ZF Marine BU 460D marine gear. Electrical service will be provided by a 125 kW generator set powered by a Cummins Marine 6CT8.3DM engine.

Subsequent to the departure of Holland America's Statendam in April, Cascade General took in Crystal Cruises' Crystal Harmony for a 10-day stopover in May. The 10-year-old ship underwent maintenance and overhaul work below its waterline, extensive interior remodeling and steel replacement for pool areas on Deck 11. With maximization of work in mind, Cascade normally sends advanced crews to join cruise ships on their way to the yard's Portland, Ore. locale. This time though, the first mobile crew met the ship in Los Angeles, where work commenced immediately on an overhaul of one of Harmony's auxiliary boilers. A second team was then summoned to San Francisco to clean ballast tanks before undertaking structural repairs and preservation work. easuring 790 ft.

Oil is the key corner of the development process of Yemeni economy. The Ministry of Oil and Minerals headed by the Minister Khalid M. Bahah and the Petroleum Exploration Production Authority (PEPA) have launched a massive campaign promoting Yemens offshore oil blocks. Recently, the Ministry held a promotional conference to highlight the features of investing in Yemen and to call on investors to place their bids for the new 11 Offshore Oil blocks that are up for grabs. The blocks are located in the Red Sea, blocks 55, 22 and 23; Gulf of Aden, blocks 46, 61, 62 and 63 and Socotra basin, blocks 93, 94, 95, and 96. The conference was a success with more than 40 big oil firms attending including Shell, British Petroleum, Exxon Mobil, Oxy, Nexen, Oil Search and CCC.