Opportunities for Boat Building in Eastern Cape
Transnet National Ports Authority’s (TNPA) Port of Ngqura has hosted the testing and launch of the first ever locally manufactured aluminium vessels by PE-based boat builder, Legacy Marine. As the company’s ship yard is based in Perseverance, the low bridges blocked the route to the Port of PE in the past, restricting the building of larger vessels. When the new Port of Ngqura stepped up as an alternative port, it contributed to the expansion of boat building in the Eastern Cape.“Now that the port is available for new vessel launches…
Gazprom, Itochu Sign MoU on Baltic LNG
Russian oil and gas company Gazprom and Japanese trading house Itochu have signed a memorandum of understanding (MoU) on the proposed Baltic liquefied natural gas (LNG) export project."With this document, the parties confirmed their interest in potential cooperation in the framework of the project," said a press note from the Russian gas giant.A working meeting between Alexey Miller, Chairman of the Gazprom Management Committee, and Yoshihisa Suzuki, President and Chief Operating Officer of Itochu Corporation, took place in St.
US Exports to China to Rise amid Trade Talks, but Volumes are Capped
China has pledged to buy more U.S. goods to reduce America's huge trade deficit and help avoid exacerbating a trade war between the world's two biggest economies, with energy and commodities high on Washington's list of products for sale.The U.S. trade war with China is "on hold" after the governments agreed to drop tariff threats and work on a wider agreement, U.S. Treasury Secretary Steven Mnuchin said on Sunday. Washington is especially keen to sell more of the United States'…
Eidesvik Offshore, Wärtsilä Norway and DNV GL Celebrate FellowSHIP
Project partners Eidesvik Offshore, Wärtsilä Norway and DNV GL have announced the closure of the FellowSHIP research project. The cooperation has explored the use of battery, hybrid and fuel cell technology in the maritime industry for over 15 years.“FellowSHIP has been a flagship research project,” states Bjørn-Johan Vartdal, Maritime Programme Director for Technology and Research in DNV GL Group. “The results from FellowSHIP have shaped our knowledge of battery and hybrid power…
Caspian Littoral States Sign Environment Protocol for the Sea
Littoral countries to the Caspian Sea have made a groundbreaking commitment to evaluate the likely impact that development projects will have on the environment in each other’s states.High-level representatives from Azerbaijan, Iran, Kazakhstan, the Russian Federation and Turkmenistan today signed the Environment Impact Assessment Protocol under the Tehran Convention.Under the Protocol, countries must follow a set of harmonized practical procedures for assessing the impact that a project will have on the environment in another state.Impacts on human health…
Azerbaijani Vessels Completes Filanovsky Mission
The vessels of Azerbaijan Caspian Shipping Company (ACSC) have successfully completed their mission at the “Filanovski” oilfield in the Russian sector of the Caspian Sea.A press statement from ACSC said that the towing vessel “Yarnega”, owned by Azerbaijan Caspian Shipping Company and lift vessel “Gurban Abbasov” expolited by Shipping Company in alliance with Caspian Marine Services (CMS) successfully completed their missions in “Filanovski” oil field in the Russian sector of the Caspian Sea…
MOL Group Posts Almost USD 1 Billion Profit in 2016
MOL Group significantly outperformed its initial USD 2bn target for 2016 and delivered a clean EBITDA of USD 2.15bn, which is only moderately down compared with the previous year. Upstream has shown great resilience to the deteriorating external environment. A further 17% decline in Brent prices and a 23% decline in realized gas prices were offset by higher production and cost discipline. As a result, EBITDA remained nearly flat at USD 675mn and the business generated over USD 250mn free cash flow equalling USD 7 per barrel of oil equivalent.
Maersk Says It's Been Cyber Attacked
Shipping giant A.P. Moller-Maersk, which handles one out of seven containers shipped globally, said the Petya cyber attack had caused outages at its computer systems across the world on Tuesday. The attack came as computer servers across Europe and in India were hit by a major ransomware attack. "Global cyber-attack Petya is affecting multiple businesses," Maersk said on Twitter. The breakdown affected all business units at Maersk, including container shipping, port and tug boat operations, oil and gas production, drilling services, and oil tankers, the company said.
Norway Oil Service Firms, Unions Fail to Reach Wage Deal
Wage negotiations between Norwegian oil service workers and their employers failed early on Wednesday, the Industri Energi trade union said in a statement. The Norwegian Oil and Gas Association, which represents the employers, separately said the negotiations had been put on hold for the time being. The talks cover about 6,500 union members at around 60 companies that are suppliers to the oil industry. If the two sides fail to reach an agreement, the next move could be a round of mandatory negotiations hosted by a state-appointed mediator.
Dong Energy Changes Name to Orsted
Following the profound strategic transformation from black to green energy and the recent divestment of the upstream oil and gas production, the name DONG Energy does not fit the company anymore. Consequently, DONG Energy has today called an Extraordinary General Meeting to ask the shareholders of the company to approve a change of the company name to Ørsted. Thomas Thune Andersen, Chairman of the Board of Directors, says: “DONG was originally short for Danish Oil and Natural Gas.
IRClass Sets up Regional Office in Hong Kong
Indian Register of Shipping (IRClass) has set up a new regional office in Hong Kong to serve the dynamic East Asia region. The move to establish a new regional office in Hong Kong represents another significant step for IRClass in its efforts to become a global classification society. This office is located in Hong Kong’s central business district and its areas of responsibility include the southern provinces of The People’s Republic of China, Taiwan, the Philippines, Vietnam, Indonesia, Pacific Island Nations and the US Territory of Guam & Saipan.
Petrobras to join Oil and Gas Climate Initiative (OGCI)
Petróleo Brasileiro SA (Petrobras) has announced its intention to join the Oil and Gas Climate Initiative (OGCI). The company revealed that its CEO, Pedro Parente, has signed a letter of engagement so that the company can become an effective member of the voluntary initiative, which aims to lead the industry response to climate change. The OGCI is the CEO-led grouping of oil and gas companies that intends to lead the industry’s response to climate change, pooling knowledge and collaborating on action to reduce greenhouse emissions.
Azerbaijan Caspian Shipping Company Overhauls Towing, Supply Vessel
Major overhaul of the towing and supply vessel "Andoga" belonging to the Caspian Sea Oil Fleet of the Azerbaijan Caspian Shipping Company has been completed, said a press release. The main engines, main and reserve pumps, pipeline systems, power plants and control equipment, steering and auxiliary steering device were repaired. Two new diesel engines were installed, damaged parts of the hull and a wooden deck cover were replaced, and the lighting system was updated. Along with this…
FlexMoT for Monitoring & Detection of Offshore leaks
Leaks on offshore platforms present a hazard to the marine environment and human health. The monitoring system FlexMoT will detect irregularities and provide a warning system for disasters. The system was presented at this year’s OCEANS’16 in Monterey. (Rostock/Darmstadt/Graz) Accidents in offshore oil & gas drilling are dangerous. The damage caused by the Deepwater Horizon oil spill in the Gulf of Mexico five years ago shows how high the costs can be for nature and those responsible. Now, a solution was presented at this year’s OCEANS Conference.
Shell Names Top Exec to Head BG During Integration
Royal Dutch Shell's top executive planning the integration of BG Group will become transitional CEO of BG after expected completion of the $48 billion acquisition next month, company sources said. The appointment of Dutchman Huibert Vigeveno to oversee the complex merger of the two global businesses comes as no surprise. Vigeveno was appointed last August to spearhead the joint Shell-BG integration committee along with BG's Sinead Lynch, and had previously headed Shell's operations in China and had also worked for the Anglo-Dutch company in Brazil, two key markets for the combined group.
Italians Go to polls for Drilling Referendum
Italy went to the polls on Sunday for a referendum on off-shore oil and gas drilling rights, a complex issue that the government hopes voters will shun. For the ballot to be valid, more than 50 percent of the Italian electorate must vote and Prime Minister Matteo Renzi has urged people to stay away, saying that the referendum is unnecessary and might end up hurting the economy. It would be a blow to Renzi if substantial numbers did turn out, suggesting voters were ready to snub him just weeks before major local elections. But opinion polls have indicated that a quorum will not be reached.
Aker Solutions, ABB Form Subsea Alliance
Aker Solutions and ABB agreed to build on their combined strengths in subsea, power and automation technologies to develop solutions that will improve oil and gas production for the global energy industry. The cooperation will integrate Aker Solutions' pioneering subsea capabilities and ABB's subsea power and automation system expertise to bring customers more effective, reliable and flexible oil and gas production solutions. It will enhance how production equipment on the seafloor is powered and controlled by applications on shore or platforms…
InterMoor completes Chain Tensioning, Cutting on FPSO in GoM
InterMoor, an Acteon company, has successfully completed the final tensioning and chain cutting operations on the FPSO Turritella for the Shell Stones project, located in the Walker Ridge protraction area in the Gulf of Mexico (GoM). The FPSO Turritella will connect to subsea infrastructure located beneath approximately 9500 ft (2896 m) of water, breaking the existing water depth record for an oil and gas production facility. This ultra-deep water project marks the first FPSO for Shell in the GoM, and the second FPSO in the GoM.
Litgas, Statoil JV to Develop Baltic Sea LNG
Natural gas supply and trading company Litgas, part of Lithuania's state owned energy holding Lietuvos Energija, and Statoil, leading global energy company in oil and gas production, signed a memorandum of understanding (MoU) on July 2nd in Vilnius, Lithuania regarding establishment of a joint venture company in Lithuania to develop small scale LNG bunkering services. The new joint venture company is planned to be established in Lithuania later this year and would supply LNG as a fuel to ships, small terminals in the Baltic Sea, and transport LNG by trucks to on-shore customers.
Seabed Geosolutions Bags Two Contracts
Seabed Geosolutions will soon mobilise for the variation order that was signed today by Abu Dhabi National Oil Company (ADNOC) with CGG to conduct a shallow water seabed survey. The survey is over the Ghasha-Butini field, will take around 12 months and has a value of around USD 125 million. The recent successful completion of the Hail-Shuweihat survey has promoted this variation order, confirming ADNOC’s confidence in Seabed Geosolutions’ ability to operate safely and efficiently.
Russia Claims Ownership of the Arctic and North Pole
Russia, led by President Vladimir Putin, has re-submitted its petition to the United Nations claiming exclusive control over 1.2 million square kms (463,000 square miles) of the Arctic sea shelf, based this time on what its foreign ministry calls “ample scientific data”, reports CSM and Reuters. Rich in natural resources, the Arctic is a potential arena for the clash of geopolitical interests of the Arctic states. This is the second time Russia has staked its claim to what it sees as its territory. Earlier in 2002, the UN rejected the bid on lack of evidence.
Koryakin to Head Gazprom Dobycha Urengoy
Alexander Koryakin is appointed Director General of Gazprom Dobycha Urengoy. Alexander Koryakin was born in Chelyabinsk in 1968. He graduated from Perm Polytechnic Institute in 1992, majoring in Oil and Gas Field Development. Alexander Koryakin has an MBA degree. He has been employed at Gazprom for 22 years. Between 1992 and 1993 – oil and gas production operator of the 5th grade, oil and gas production foreman of the gas production operations and control service at the Nadymgazprom Production Association.
A Tough Reality for Industry - Statoil
Global challenges and new opportunities in the energy market will create a turning point for the industry, says Statoil CEO Eldar Sætre at the Statoil Autumn Conference. In his speech to the Norwegian Prime Minister and other guests at the annual Autumn Conference, Sætre emphasized the fact that the energy world is changing and the oil and gas industry is currently facing a tough reality, as global upstream investments are estimated to fall by 20% in 2015. But oil and gas will continue to play an important role in the future energy mix. "We know that energy demand is growing.
Energy Industry Faces a Tough Reality -Statoil CEO
Global challenges and new opportunities in the energy market will create a turning point for the industry, says Statoil CEO Eldar Sætre at the Statoil Autumn Conference. In his speech to the Norwegian Prime Minister and other guests at the annual Autumn Conference, Sætre emphasized that the energy world is changing and the oil and gas industry is currently facing a tough reality, as global upstream investments are estimated to fall by 20 percent in 2015. But oil and gas will continue to play an important role in the future energy mix. “We know that energy demand is growing.
New Charges in 2012 Fatal Platform Blast
Black Elk Energy Offshore Operations LLC, Grand Isle Shipyards Inc., Wood Group PSN Inc., as well as Don Moss, 46, of Groves, Texas, Curtis Dantin, 50, of Cut-Off, La., and Christopher Srubar, 40, of Destrehan, La., have been charged with crimes for a November 2012 explosion on an oil production platform that resulted in the death of three workers, the injury of others and an oil spill, announced the Department of Justice’s Environment and Natural Resources Division and the U.S. Attorney’s Office for the Eastern District of Louisiana.
Need to Cut Cost for Barent Sea Development - DNV GL Study
OG21 today received the DNV GL study of technologies that should be developed for year-round oil and gas production at 74 degrees North in the Norwegian Barents Sea. New licenses are due to be awarded in this area as part of the Norwegian 23rd licensing round. The report concludes that technology solutions are fairly mature, but need to be adopted for Norwegian waters. This would be possible within a 8-10 year time frame, which is also the earliest one can expect first oil or gas in the licenses.