Offshore Oil Wells, Ports Shut as Hurricane Sally Advances on U.S. Gulf
Energy companies, ports and refiners raced on Monday to shut down as Hurricane Sally grew stronger while lumbering toward the central U.S. Gulf Coast, the second significant hurricane to shutter oil and gas activity over the last month.The hurricane is disrupting oil imports and exports as the nation's sole offshore terminal, the Louisiana Offshore Oil Port (LOOP), stopped loading tanker ships on Sunday, while the port of New Orleans closed on Monday.The U.S. government said 21%…
Chevron Tanker Receives ABS SMART-MHM Notation
ABS and Chevron Shipping Company LLC have embarked on a digital fleet management journey.As a first step, the Suezmax lightering vessel Pegasus Voyager has become the first vessel in Chevron’s fleet to qualify for the ABS maintenance optimization notation SMART-MHM (Machinery Health Monitoring), with more vessels expected to follow. The ship is also the first ABS-classed to receive the notation.ABS says this is just the beginning of the journey to condition-based maintenance for the Chevron’s fleet of 28 vessels.
Chevron Marine Publishes New White Paper
Lubricating duel-fuel auxiliary engines: a practical approachChevron Marine has released the latest in a series of white papers focusing on innovations and developments impacting the fast-changing shipping industry.Click Here to Download the Whitepaper.‘Lubricating dual-fuel auxiliary engines: a practical approach’ explores the unique challenge of using engines that run regularly on either fuel oils or LNG. Around three quarters of ships using LNG as fuel have dual-fuel, four-stroke engines.
Australia Ship Sim Center Opens
The Western Australian Minister for Ports, the Hon. Alannah MacTiernan MLC opened the expanded facilities of HR Wallingford’s new Australia Ship Simulation Center.HR Wallingford has added two new purpose-built simulators to its center in Fremantle, bringing the total number of simulators that it owns and operates there to six. This makes it one of the largest ship simulation centers in Australia and allows a full maneuvering team (including pilots, tug masters and vessel traffic service (VTS) operators) to conduct integrated and immersive full port scenarios.In her speech…
Oil Majors to Raise $27Bln in Selling Spree
Global giants of the oil and gas industry – the so-called supermajors – are looking to sell assets that could fetch a total of $27.5 billion, according to Rystad Energy’s latest assessment.These companies are actively shedding mature assets on a massive scale in a bid to finance higher-yielding investments elsewhere, with the added benefit of pleasing shareholders who are calling for stricter capital discipline.“The expected transactions mean some of the majors are poised to exit certain regions…
Chevron Sets New Goals for Greenhouse Gas Reduction
American multinational energy giant Chevron Corporation unveils new goals to reduce oil production-related greenhouse gas (GHG) emissions by 5% to 10% over a seven-year period ending 2023 as part of an ongoing effort to combat global climate change.The GHG emission intensity reduction metrics apply to all upstream Chevron oil and natural gas, whether Chevron has operational control or not. Emission intensity is the emission rate of greenhouse gas per unit of energy produced.“Global demand for energy continues to grow…
Ardmore Appoints Dr. Tikka to Board of Directors
Ardmore Shipping Corporation (NYSE: ASC) (“Ardmore”) has announced the appointment of Dr. Kirsi Tikka to the company’s Board of Directors.Dr. Tikka has over 30 years of shipping experience having recently retired from the American Bureau of Shipping (“ABS”) in July 2019. She joined ABS in 2001 and held various specialist and leadership positions within ABS including as ABS Executive Vice President Global Marine, Europe Division President, and as Vice President and Chief Engineer, Global.
Brazil Okays BW Offshore's Oilfield Buy
Norwegean provider of floating production services to the oil and gas industry BW Offshore has won approval from Brazilian oil regulator ANP for the purchase of the Maromba oilfield, part of the Oslo-listed company's plan to become an operator and not just a supplier of oil services, platforms and ships.The purchase, from Chevron Corp and Petrobras, extends BW's operations in Brazil, where it already has two floating production, storage and offloading (FPSO) units.“We are proud to announce that our subsidiary BW Energy has been approved by the razilian National Agency of Petroleum…
GAC Denmark Opens in Kalundborg
GAC Denmark has opened a new branch in Kalundborg to better serve the needs of GAC’s global principals in the liquid bulk and other sectors.Located 100 km west of Copenhagen, Kalundborg is a key location for liquid and dry bulk cargo and larger projects for industry players such as Equinor, Yamal LNG and Chevron.The new Kalundborg office, following the opening of a branch office in Aarhus last year and another in Esbjerg in 2015, brings GAC Denmark’s total number of offices to four, enabling the company to meet client needs throughout the country.
Fuel Futures: Diesel Will Spike on IMO2020
New marine fuel rules to boost diesel prices for at least a year -analystsGlobal prices for diesel and marine fuels should rise by October ahead of a January switchover to new, very low-sulfur marine fuels, and remain higher for at least a year as refiners shift production to make more of the new fuels, analysts said.Marine fuels containing no more than 0.5% sulfur by weight, down from the 3.5% currently used, to power ocean-going vessels will be required for ships without exhaust scrubbers on Jan.
PDVSA Oil Port Paralyzed by Another Blackout
Venezuela's main oil export port of Jose and the country's four crude upgraders have been unable to resume operations following a massive power blackout on Monday, according to industry workers and a union leader close to the facilities.The most recent oil shipment for export, on the carrier Dragon chartered by Russia's Rosneft, left Jose, which is owned by state-run PDVSA, on March 24, according to Refinitiv Eikon vessel-tracking data and PDVSA's trade documents."There is no electricity…
Euronav to Deploy ULCC for LSFO Storage
Euronav, one of the largest tanker companies in the world, will deploy one of its two ultra large crude carriers (ULCC) to store cleaner marine fuel ahead of a major regulatory change in 2020, the Belgium-headquartered group said on Friday.From January 2020, the International Maritime Organization (IMO) will ban ships from using fuels with a sulphur content above 0.5 percent, compared with 3.5 percent now, in one of the biggest changes in the oil market in decades.Only ships fitted…
Oil, Gas Majors Join Blockchain Consortium
A group of seven major oil and gas companies, including ExxonMobil Corp., Chevron Corp. and ConocoPhillips, announced a partnership to establish the first industry blockchain consortium in the United States.With several use cases across the industry value chain, the consortium intends to conduct proofs of concept with this emerging technology in 2019, said a press release from OOC Oil & Gas Blockchain Consortium.The OOC Oil & Gas Blockchain Consortium was founded to advance industry blockchain technology learnings for the purpose of driving industry standards…
UAE, Greece, USA: Worst Vessel Dumpers
The United Arab Emirates (UAE), Greece and the United States of America (USA) top the list of country dumpers of ocean-going commercial vessels in 2018, according to new data released today by the NGO Shipbreaking Platform.UAE owners were responsible for the highest absolute number of ships sold to South Asian shipbreaking yards in 2018: there were 61 ships in total.Greek owners, beached 57 vessels out of a total of 66 sold for demolition. American owners closely followed with…
AsiaPac Oil and Gas Industry Looks Up
Confidence in the outlook for Asia Pacific’s oil and gas industry has more than doubled in the past two years, according to new research published by DNV GL, the technical advisor to the oil and gas industry.According to a new research from DNV GL, three quarters (76%) of senior oil and gas professionals in Asia Pacific are optimistic about the industry’s growth in 2019, compared with 58% in 2018 and 30% in 2017. The proportion of industry leaders who are confident in their own organizations’ prospects has also risen from 59% last year to 74% in 2019.
Zhenhua Buys First LNG Cargo from Chevron
China's state-run Zhenhua Oil purchased its first liquefied natural gas (LNG) cargo from Chevron Corp to supply a South China-receiving terminal that it won access to in a recent auction, according to Zhenhua officials on Thursday.The 100-million-cubic-meter cargo was purchased at about $0.30 per million British thermal unit discount to Japan Korea Marker (JKM) quotes on a delivered basis, the officials added.The cargo, discharged at CNOOC's Yuedong terminal in Shenzhen, was sourced from the Australian Gorgon project operated by Chevron.Zhenhua and its local partner Longkou agreed in September
Singapore Petroleum Builds New Oil Storage, Distribution Center
Singapore Petroleum Company, a subsidiary of PetroChina International, said in a statement on Friday it completed a new oil products storage and distribution terminal on Jurong Island, an artificial island off Singapore's southwest coast.The terminal "will allow us to develop our marketing network and to serve the growing needs of our customers in Singapore," Xia Hongwei, managing director of PetroChina International (Singapore) said in the statement.The terminal comprises 10 storage tanks with a total capacity of 50,000 cubic meters for gasoline and gasoil.The terminal is connected via pipeli
ENN Starts First Phase of Zhoushan LNG Import Terminal
Chinese gas distributor ENN Energy Holdings has begun operations at the first phase of its Zhoushan liquefied natural gas (LNG) import terminal, Vice President Ma Shenyuan said, speaking at a commencement ceremony for the terminal on Friday.As ENN aims to ramp up winter supplies in eastern China, the tanker 'Asia Integrity' docked at the Zhoushan terminal on the same day, bringing 145,000 cubic meters of LNG from Australia supplies to mark the launch of China's first privately…
Synergy Group Launches iCALL Help Line
Synergy Group has launched a new counselling service aimed at improving mental health support for sea- and shore-based maritime personnel.iCALL is a free psychological helpline for the worldwide maritime community available 24/7 in nine different languages via phone, email and the chat-based nULTA App.“Numerous studies into the psychological health of seafarers have shown that large numbers of seafarers suffer from obvious manifestations of impaired psychological well being such as social isolation and depression…
Chevron Eyes Houston Ship Channel for 2nd US Gulf Refinery
Chevron Corp wants to build or buy a refinery along the U.S. Gulf Coast to process crude oil from its rapidly growing Permian Basin operations, a senior executive said on Tuesday.The company would like to have refining operations on the Houston Ship Channel, in the western part of the U.S. Gulf, to complement an existing eastern Gulf refinery in Mississippi that makes lubricants and other materials, Pierre Breber, Chevron's head of downstream and chemicals, said."Something on the ship channel side could make a lot of sense for our company…
China LNG Tariff Casts Shadow Over New US Export Terminals
China set a 10 percent tariff on U.S. liquefied natural gas (LNG) imports, extending a trade dispute into energy and casting a shadow over U.S. export terminals that would propel the United States into the world's second-largest LNG seller.Beijing on Tuesday said it would tax U.S. products worth $60 billion effective Sept. 24 in retaliation for tariffs imposed by U.S. President Donald Trump in an escalating trade war.The rate was smaller than the 25 percent tariff China had touted earlier, which offered some relief and helped shares in listed U.S.
PDVSA to Reopen Damaged Port Dock by Month's End
PDVSA expects to reopen the south dock of Venezuela's main oil port Jose by the end of September, easing strains on crude exports delayed due to a tanker collision last month, according to internal trade documents from the state-run oil firm seen by Reuters.Last week, PDVSA began diverting tankers to Puerto la Cruz for loading, but the South American country's crude exports have remained slow in recent weeks as few customers have accepted the 500,000-barrel-per-cargo maximum neighboring terminals can handle.Besides Puerto la Cruz…
PDVSA to Divert Tankers to Nearby Port after Collision
Venezuela's state-run PDVSA is organizing a contingency plan to address its latest oil-export problem following a minor accident last week at the country's main crude terminal, two sources from the firm told Reuters on Friday.A tanker collision that damaged Jose port's South dock and forced its closure has added to delays in loading crude for export, especially to customers such as Russia's Rosneft and U.S.-based Valero Energy Corp and Chevron Corp.Oil tankers that were assigned…
Roll Group Awarded Contract for Shipment of Three Boilers
Roll Group has been awarded a contract by Fagioli and Macchi for the transportation of three large boilers for the Gulf Coast Growth Ventures project. Presently the voyage from Porto Marghera (Italy) to Corpus Christi (USA) is scheduled to take place between August and September 2019. Each of the three boilers weigh in excess of 1000 metric tons.The dimensions of the boilers to be transported in 2019 are all identical with a length of 30.30m, a width of 16.40m and a height of 22.70m.
Transocean Signs 11 Well Contract with Chevron Australia
The international provider of offshore contract drilling services for oil and gas wells Transocean announced that the ultra-deepwater semisubmersible GSF Development Driller I was awarded an 11-well contract (approximately 955 days) commencing offshore Australia in the first half of 2019 with Chevron Australia.The estimated firm contract backlog, excluding integrated services, is approximately USD 158 million. Additionally, the contract includes four one-well options.Two days ago…
China's Tariffs on US Oil Would Disrupt $1 Bln Monthly Business
China's threat to impose duties on U.S. oil imports will hit a business that has soared in the last two years, and which is now worth almost $1 billion per month.In an escalating spat over the United States' trade deficit with most of its major trading partners, including China, U.S. President Donald Trump said last week he was pushing ahead with hefty tariffs on $50 billion of Chinese imports, starting on July 6.China said Friday it would retaliate by slapping duties on several American commodities, including oil.Investors expect the spat to come at the expense of U.S.