Optimarin Gears Up for BWMS Retrofit Wave
Optimarin is growing its staff to effectively handle the growing wave of ballast water management system refit activity.The company, which expects to double its turnover this year, has employed Leiv Kallestad as its new CEO, allowing Tore Andersen, the incumbent, to spend his time enhancing market focus and customer service. In order to handle the expected surge in retrofit installations, expected to peak in 2022-23, Optimarin will now make plans for additional expansion, with growth in the technical and sales departments.Optimarin has now sold 750 of its simple…
PDVSA to Resume Use of Caribbean Oil Terminal
Venezuela's PDVSA and NuStar Energy LP have reached an agreement over outstanding storage fees, allowing the state-run company to resume use of a key storage terminal in the Caribbean, the U.S. energy firm said on Monday.NuStar had suspended PDVSA several times since 2017 from using its St. Eustatius facility over millions of dollars in missed payments.The terminal played a role in a legal dispute between PDVSA and ConocoPhillips, which earlier this year tried to enforce a $2…
BNSF: Crude Rail Service Could Resume Tuesday
BNSF Railway Co on Monday said it could resume service Tuesday on a stretch of northwestern Iowa track damaged when a train left the track and crude oil spilled from derailed cars. The crude oil train derailed near Doon, Iowa, on Friday sending 32 rail cars off the track and spilling an estimated 230,000 gallons of oil into flood waters and toward a nearby river. Crews are nearly finished removing oil from damaged cars and repairing tracks, BNSF said in a statement. Its crews are using booms to contain the oil and skimmers to remove it from the waters…
PDVSA Halts Caribbean Storage, Shipping; Diverts Oil Cargo
Venezuela's state-run PDVSA suspended oil storage and shipping from its Caribbean facilities following a move by ConocoPhillips to temporarily seize the firm's assets on four islands, according to a PDVSA source and Reuters data.PDVSA has begun concentrating most shipping in its main crude terminal of Jose on Venezuela's eastern coast and recalling tankers to Venezuelan waters to avoid seizures that would further cut its exports and worsen an economy on the verge of collapse.U.S.…
Tightening Noose: Venezuela's Crisis Deepens
The news that Venezuela's PDVSA has diverted a crude tanker from Curacao after ConocoPhillips moves to satisfy a $2 billion arbitration award signals that worst may be yet to come. Reuters is reporting that Venezuela's state-run PDVSA ordered a tanker waiting to discharge at its Curacao terminal to divert to Venezuelan waters after ConocoPhillips introduced an order in a Caribbean court to seize its inventories and other assets in the island, according to a shipper and Reuters data on Tuesday.
PDVSA Diverts Crude Tanker from Curacao
Venezuela's state-run PDVSA ordered a tanker carrying Russian oil that was waiting to discharge at its Curacao terminal to divert to Venezuelan waters after ConocoPhillips introduced an order in a Caribbean court to seize its inventories and other assets in the island, according to a shipper and Reuters data on Tuesday.The Aframax tanker British Cygnet loaded crude at Russia's Primorsk terminal in April. It arrived in Curacao's Bullenbay terminal, operated by PDVSA, on Sunday…
2016 and Two FPSOs in US GoM: The 20 Year Saga
Peter Lovie’s Chronology of the FPSO’s difficult struggle to viability in the U.S. Gulf of Mexico is a fascinating journey through time and the oil industry itself. 2016 saw the arrival of the second FPSO in the US Gulf of Mexico. Despite the long prominence of the US Gulf of Mexico in pioneering in the offshore world, FPSOs have been curiously slow in arriving despite being the most used floating production system in the rest of the world. Tracing what went on from securing regulatory approval in principle to be able to use FPSOs in GoM…
New CEO at GulfNav Leads Expansion Plans
Dubai-based shipping company Gulf Navigation Holding PJSC (GulfNav) has announced in a press conference at Rose Rayhaan by Rotana April 19 its expansion plans to increase its assets under management and service-based revenue. The shipping company also revealed the appointment of Khamis Juma Buamim as the new Board Member, Managing Director and Group CEO by the Board of Directors during the event. Chairman Abdulla Saeed Abdulla Brook Al Hemeiri, and Khamis Juma Buamim along with other high-level executives…
GulfNav Unveils Expansion Plans
Gulf Navigation Holding PJSC (GulfNav), the Dubai-based shipping company, has announced in a press conference at Rose Rayhaan by Rotana today (Tuesday, April 19, 2016), its key expansion plans to increase its assets under management and service-based revenue. The shipping company also revealed the appointment of Mr. Khamis Juma Buamim as the new Board Member, Managing Director and Group CEO by the Board of Directors during the event. The move forms part of the company’s intensified strategy to become one of the main industry leaders in the regional maritime and shipping industries.
U.S. Okays ConocoPhillips LNG Exports
The U.S. Department of Energy has renewed authorization for liquefied natural gas (LNG) exports from the North Kenai ConocoPhillips facility, reports Reuters. The approval is to export about 40 billion cubic feet of natural gas from its Kenai LNG export terminal in Alaska over the next two years starting Feb. 19. U.S. Senator Lisa Murkowski applauded the decision. Over the last year she has been urging Department of Energy officials to support ways to commercialize Alaska’s natural gas reserves like the current Conoco facility as well as the Alaska LNG project.
Conoco CEO: Lifting U.S. Oil Export Ban on Wish List
The head of U.S. The comments come amid intensifying debate in Washington on whether to reverse the 40-year-old ban, imposed after the Arab oil embargo. A Republican-sponsored bill to repeal it passed the House of Representatives last week, but faces an uncertain future after a veto threat by President Barack Obama. "Allowing exports would ... help save existing jobs and create new jobs," Conoco's CEO, Ryan Lance, told an audience at the Boston College Chief Executives Club Luncheon in Boston, adding he believed the move would also help the economy and produce increased tax revenue.
BP, Conoco Cutting North Sea Jobs
Oil majors BP and ConocoPhillips will cut over 500 jobs in the North Sea following similar moves by rivals to reduce costs in one of the world's most expensive exploration areas as oil prices tumble. Although the cuts are relatively small for companies with dozens of thousands of employees, they come at a politically sensitive time in Britain as the Scottish independence debate continues and a May parliamentary election looms. BP said the cuts of 200 onshore staff and 100 contractors…
Energy Shares; Slowing China Exports Drag Wall Street Down
U.S. stocks declined on Monday, dragged lower by a big drop in energy shares and global growth concerns following soft data out of China and Japan. Energy was easily the worst-performing S&P sector, down 3.6 percent, as Brent crude fell to a five-year low on predictions oversupply would keep building until next year. The index is down more than 10 percent for the year, making it the only one of the 10 major S&P sectors in negative territory for the year. "I think people are looking at the potential ripple effects from the slide in oil.
US Tankers Built on Spec Face Choppy Waters
U.S. shipbuilders are making a $500 million bet on robust domestic demand for crude oil from newly-tapped shale fields by building new tankers without having lined up customers to lease them. Philly Tankers AS, majority-owned by Aker Philadelphia Shipyard is building four ships on spec, and Seabulk Tankers Inc, an indirect wholly-owned subsidiary of SEACOR Holdings Inc, is building another two. The 330,000-barrel ships, which cost about $125 million each, conform to the 1920 Jones Act, which requires ships moving between U.S.
Conoco Exporting Shale Drilling Know-How
ConocoPhillips, the largest independent oil company, is using the knowledge it gained drilling in Texas' Eagle Ford rocks to fuel growth in less-developed shale formations in North American and even Poland. "The value associated with that learning curve has been pretty tremendous," Conoco Chief Executive Ryan Lance told the company's annual analyst meeting. Conoco and many other companies are spending ever higher amounts to coax more profitable and lower-risk crude oil and natural gas liquids from shale and other rocks in North America.
EDS Makes Two Senior Appointments
Environmental Drilling Solutions (EDS), a provider of drilling waste management, solids control and backyard management solutions to the oil and gas industry, announced two senior-level additions to its management team: John Meckert as chief executive officer (CEO) and John Marty III as business development manager. Meckert joins EDS with 23 years of experience in the oil and gas industry, primarily in oilfield services and drilling. He has spent most of his career at various divisions of Nabors Industries, the world’s largest land driller.
Salvage Response under OPA 90: Non-Tankers are Next
Maritime casualties have always been tackled by a relatively small, egotistical, passionate and intrepid group of mariners called “salvors.” Salvage as history knows it, however, may be taking a sharp turn as a result of the new game rules being injected by the Oil Pollution Act of 1990 (OPA 90). Back in 2008 the USCG issued the tanker final rule for salvage and marine firefighting (SMFF) under the Oil Pollution Act of 1990. This rule primarily requires tank ships and barges…
Crowley’s Solutions Group Appoints VP
VP brings experience in offshore oil & gas, LNG, engineering and other maritime related industries. Crowley Maritime Corporation’s solutions group recently named Farhad Rajabi vice president of its project management team. He will work out of the group’s Houston office and report to Craig Tornga, Crowley’s vice president of solutions. Rajabi’s new role will leverage his 30 years of experience in project management and other marine solutions fields to establish objectives, plans, policies and procedures for the project management department.
Mitchell Commercial Director at Cosalt Offshore
Cosalt Offshore, a provider of lifting, tooling and marine services to the oil and gas industry, has announced the appointment of Lisa Mitchell as commercial director. Mitchell has worked for the company since 2000, when it was GTC Group and then became Cosalt Offshore in 2007, following acquisition. Her previous roles included contracts manager and commercial manager. Mitchell, a Law and Management honors graduate from The Robert Gordon University and former pupil of Westhill Academy, worked at Conoco and Brown and Root before joining GTC Group.