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Wednesday, October 28, 2020

Oil And Gas News

Graphic representation of the exercise; met-ocean data collection operations running concurrently with simulated threats, detection and mitigation assets. Image from ION.

Port Security: Autonomous ANTX

Geophysical seismic surveys and port security may appear to have little in-common. However, it turns out that managing complex marine seismic operations, where 10km-long seismic streamers have to be deployed harmoniously alongside other offshore marine assets, isn’t that dissimilar to managing – and protecting – port facilities.It's an area that ION Geophysical, more known for seismic data acquisition technology, has recently been proving its expertise in, using its Marlin system for marine operations management.

© creativenature.nl/adobestock

Opinion: Legislative Loophole Could Keep U.S. Offshore Wind Jones Act Fleet at Dock

The U.S. House of Representatives has passed the Expanding Access to Sustainable Energy Act of 2019, which enforces Jones Act requirements for all offshore renewable energy production. However, the bill's current language has the potential to create a loophole that would leave the U.S. Jones Act fleet on the sidelines. The Jones Act and its applicability to the offshore wind sector has long been debated by politicians, activists, and industry professionals. The act requires components transported between points in the United States to be moved by U.S. built, owned, flagged and crewed vessels.

A Frontline tanker - Credit: Stanislas Subash/MarineTraffic.com

Frontline CEO Macleod Steps Down

Oil tanker company Frontline said Wednesday its CEO Robert Hvide Macleod had decided step down from his position. The oil and gas shipping firm said its board had appointed Lars H. Barstad, Frontline's commercial director, to take the role as interim chief executive officer of Frontline Management AS."With his solid background within the industry and his profound understanding of the company and its organization the board is confident that this new appointment will ensure a successful and seamless transition of the role…

Historical growth and prospects of gas investment for short-, medium- and long-term ($ billion). Source: GECF Secretariat, based on data from the GECF GGM

Rolling the Dice in Chaos: The Prospects of Investment in the Gas Industry

As stated in the Declaration of Malabo at the 5th Summit of Heads of State and Government of the GECF Member Countries, in order to sustain the security of demand and supply of natural gas, it is necessary to ensure sufficient investments through the entire gas value chain among all gas market stakeholders [1].Since the start of 2020, every aspect of the global economy, including investment projects in natural gas industry, have been strongly hit by the outbreak of the Covid-19 pandemic.

© Mariusz / Adobe Stock

China Outlines Policy for New Storage Bases for Energy, Agri Imports

China is directing authorities in East China’s Zhejiang province to start planning to build stockpiling bases for energy and agricultural products, part of a push to develop regional free-trade zones (FTZs), a government document said on Monday.The directives call for looking at building above-ground and underground facilities to stockpile oil, gas and chemicals in FTZs that encompass 120 square km (46 square miles), including in parts of provincial cities Ningbo, Hangzhou and Jinyi.“(The government will) support experiments to build oil and gas reserves, to undertake greater tasks of governme

Hurricane Sally (Photo: NOAA)

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%…

File photo (Credit: Andrew Kendrick, U.S. Coast Guard)

US Energy Exports Severely Disrupted by Hurricane Laura

Oil and gas exports from the United States have been severely disrupted by Hurricane Laura, with nearly a million barrels per day (bpd) of crude exports likely reduced this week by closures of U.S. Gulf Coast terminals and disruptions at ports.The hurricane also temporarily suspended operations at several liquefied natural gas (LNG) facilities in the world’s third largest exporter of the super-cooled gas, with shipments on track to fall to their lowest in 18 months.Laura made landfall early Thursday near the Texas-Louisiana border…

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US LNG Loading Delays Expected as Hurricane Slams Gulf Coast

Loadings of liquefied natural gas (LNG) cargoes from the United States likely will be delayed as a powerful storm strikes the heart of the U.S. oil and gas industry on the Gulf Coast, forcing several LNG plants to shut.Hurricane Laura made landfall early on Thursday in southwestern Louisiana as one of the most powerful storms ever to hit the state, with forecasters warning it could push a wall of water 40 miles (64 km) inland from the sea. Landfall came near Louisiana's border…

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Stored Crude, Condensate Could be Shipped from Shuttered Libyan Ports

A limited reopening of Libyan oil terminals could allow the export of some crude oil and condensate stored at Es Sider, Brega, Zueitina and Hariga, but leaves a months-long blockade of the ports in place, oil engineers say.East Libyan authorities said on Wednesday they would permit exports of the stored products in an effort to ease an electricity supply crisis that has resulted in increasingly lengthy power cuts.The ports have been blockaded since January by east Libyan factions as part a wider conflict…

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OCIMF Offering Remote Inspection Option

The Oil Companies International Marine Forum (OCIMF) said it is now providing a remote inspection option as an additional tool within its Ship Inspection Report (SIRE) program as a temporary measure to help guard against the spread of COVID-19.Rob Drysdale, Managing Director, OCIMF, explained, “In some circumstances, COVID-19 is limiting the ability of an OCIMF inspector to be physically present on board a vessel to carry out a vessel inspection. To ensure our inspection regimes continue…

© nevskyphoto / Adobe Stock

China Ramps up US Oil Purchases Ahead of Trade Deal Review

U.S. crude oil shipments to China will rise sharply in coming weeks, U.S. traders and shipbrokers and Chinese importers said, as the world’s top economies gear up to review a January deal after a prolonged trade war.Chinese state-owned oil firms have tentatively booked tankers to carry at least 20 million barrels of U.S. crude for August and September, the people said, moves that may ease U.S. concerns that China’s purchases are trending well short of purchase commitments under the Phase 1 of the trade deal.China had emerged as a top U.S.

Robert Socha (File photo)

Socha Joins Conrad Shipyard’s Senior Management Team

Conrad Shipyard announced it has hired Robert A. Socha to lead the company’s sales and marketing efforts as vice president of sales and marketing. He will work collaboratively with other Conrad business groups, including business development, engineering and product development, contracts, estimating and operations.Socha has served in numerous roles of increasing responsibility with various companies in the offshore and inland marine transportation, shipbuilding, oil and gas exploration, and offshore engineering/construction industries.

Tallaboa Terminal - ISS San Juan by Angel Colon

World of Ports V2.0 Released by Inchcape

Having redeveloped its World of Ports portal from the ground up over the last 18 months, Inchcape Shipping Services has rolled out the first release of Version 2.0 focusing on Port Data and ship-to-berth compatibility. VP of Sales & Product Development Jeff Clark says this and an abundance of new features in upcoming releases will provide customers with an unmatched level of market intelligence and transparency.World of Ports was launched in 2007 and has been available online since 2010.

Image Credit: Scorpio Bulkers

Scorpio Bulkers Plans to Buy Wind Turbine Installation Vessel

Dry bulk shipowner Scorpio Bulkers on Monday announced it has signed a letter of intent to purchase a newbuild wind turbine installation vessel (WTIV) as a “first step in a transition towards a sustainable business in renewable energy”.Scorpio said it expects to sign a $265-$290 million shipbuilding contract with South Korea's Daewoo Shipbuilding and Marine Engineering (DSME) in the fourth quarter of 2020. The deal would include options for up to three additional vessels to potentially be delivered within the following 18 months.The lead vessel…

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Congress Responds to COVID19 and Other Challenges for the Maritime Industry

In response to the worldwide COVID-19 pandemic, the Congressional Research Service released a report that stated global economic growth has declined by 3% to 6% in 2020 with a partial recovery predicted for 2021. Also, the GDP of the U.S. has fallen by 5% in the first quarter 2020. According to the International Maritime Organization (IMO), the maritime industry, and seafarers themselves, have not been able to escape the significant effects of this crisis.All sectors of the maritime industry have been adversely affected by the global pandemic.

Image Credit: Mammoet

New Mammoet Crane in Operation in Lagos Deep Offshore Logistic Base

Nigeria's Lagos Deep Offshore Logistic Base, LADOL, serving the country's offshore oil and gas industry, now has a new crane in operation - Mammoet Terminal Crane (MTC 15).LADOL and Mammoet had in January signed a partnership agreement aimed at growing LADOL’s capacity for project cargo handling and logistics for industrial sectors in West Africa. Mammoet then supplied LADOL with its heavy-lift terminal crane - MTC 15 - which has transformed LADOL’s quayside into a heavy lift terminal.

© Danial / Adobe Stock

Webinar: Floating Production Forecasts & Analysis

A free webinar will deliver latest forecasts and market intelligence for the global floating production industry, offering insider access to business and investment opportunities in the deepwater sector.Floating Production Systems: 2020 Forecasts & Analysis, presented by ABS and World Energy Reports, will be held July 29, 2020, 11 a.m. (EDT). REGISTER HERE.The effects of the COVID-19 crisis and oil supply glut continue to seriously dampen investment appetite in the oil and gas sector…

© sedsembak / Adobe Stock

Webinar: Floating Production Forecasts & Analysis

A free webinar will deliver latest forecasts and market intelligence for the global floating production industry, offering insider access to business and investment opportunities in the deepwater sector.Floating Production Systems: 2020 Forecasts & Analysis, presented by ABS and World Energy Reports, will be held July 29, 2020, 11 a.m. (EDT). REGISTER HERE.The effects of the COVID-19 crisis and oil supply glut continue to seriously dampen investment appetite in the oil and gas sector…

© aapsky / Adobe Stock

Maersk Acquires Customs Broker KGH

Maersk said on Monday it had agreed to buy Sweden-based customs broker KGH Customs Services for 2.6 billion Swedish crowns ($281 million), as the container shipping group seeks to expand its end-to-end logistics services.Maersk since 2016 has sold its oil and gas business and focussed on its container and logistics business for customers including Walmart and Nike.It handles about one in five containers shipped by sea worldwide and is seeking to speed up investments in in-land logistics services.Last year…

(Photo: Ørsted)

New Report Outlines Big Potential for Offshore Wind

Offshore wind currently represents just a small piece of the world’s energy supply. But that’s changing faster than ever before as new and existing players look to tap the huge resource potential—and market opportunities—being unlocked by shrinking costs and technological advances, as outlined in a recent comprehensive market report.In the coming two decades, the rapidly maturing offshore wind market is expected to become a trillion-dollar business as the pace of installed capacity growth accelerates…

Graphic representation of the exercise; met-ocean data collection operations running concurrently with simulated threats, detection and mitigation assets. Image from ION.

Autonomous ANTX: Seismic Survey Tech and Port Security

Geophysical seismic surveys and port security may appear to have little in-common. However, it turns out that managing complex marine seismic operations, where 10km-long seismic streamers have to be deployed harmoniously alongside other offshore marine assets, isn’t that dissimilar to managing – and protecting – port facilities.It's an area that ION Geophysical, more known for seismic data acquisition technology, has recently been proving its expertise in, using its Marlin system for marine operations management.

Join a webinar on June 17, 2020 for the global release of a major new market study on the depth, breadth and growth prospects of the Offshore Wind Market -- https://zoom.us/webinar/register/WN_UR5uY1boTOKdAAcAXDbR4g
© zozulinskyi/AdobeStock

The Emerging U.S. Offshore Wind Industry in a Post-COVID-19 World

Join a webinar on June 17, 2020 for the global release of a major new market study on the depth, breadth and growth prospects of the Offshore Wind Market --  https://zoom.us/webinar/register/WN_UR5uY1boTOKdAAcAXDbR4gJust when it was looking like the offshore wind industry was finally about to take off in the United States, the COVID-19 pandemic has introduced one more significant layer of uncertainty upon an already very complicated playing field. There are currently 15 active offshore wind projects in the planning stages which…

COVID-19 & the US Workboat Market: Business Continuity, Not Business as Usual

In today’s environment, the overarching challenge for the American tugboat, towboat and barge industry is to continue transporting the vital commodities that help keep our nation’s economy moving during a highly uncertain time, while taking all necessary measures to ensure the health and safety of our workforce as the COVID-19 pandemic continues to evolve – in other words, to ensure business continuity, while recognizing we are not, nor can we be, going about business as usual.

(Photo courtesy GAC)

Redoubling Our Resolve to Deliver Energy Transition

As momentum behind decarbonization accelerates, offshore service providers must accept the challenges ahead with great enthusiasm, harnessing key skills honed during many years working offshore, says William Hill, Executive Group Vice President, GAC Energy. The enforced shutdown of much of the industrialized world in response to the COVID-19 pandemic has thrown into sharp contrast the state of the environment before and after production, transportation and travel were dramatically cut back.

“I think we need to be bold in our thinking, but cautious in our applications. It doesn’t cost that much money to play around with ideas; and that small investment could turn up some great benefits. But if you’re afraid to make that initial investigation, things will pass you by.”
John Waterhouse, Elliott Bay Design Group

Interview: John Waterhouse, EBDG - “Be Bold in Thinking but Cautious in Application”

John Waterhouse is a ubiquitous character in the U.S. maritime industry, a deep-thinker, a signature bow tie and more than three decades of naval architecture and marine engineering experience and success as co-owner of the Seattle-based Elliott Bay Design Group (EBDG).While growing up, John Waterhouse spent some time in Vancouver, BC, Canada, and it was as a young boy standing on the shores of English Bay, watching ships come in from around the world to load and unload their cargos, when he realized that a maritime career could be his future.

Mark Whelan  (Photo: Roxtec)

Roxtec UK Appoints Whelan

Roxtec UK has moved to increase its presence in Britain’s maritime sector with the appointment of a new marine and offshore manager.Mark Whelan has joined the Swedish-owned company having spent 10 years at another international manufacturer, most recently as a project manager for naval and commercial shipbuilding sector contracts. At Roxtec, Whelan will have responsibility for business development in the south of England.Roxtec’s transits are used to seal cables and pipes aboard a wide variety of ships including naval vessels…