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Business & Finance, Equipment
GE and Lufkin Industries Inc. announced today a joint agreement whereby GE will acquire Lufkin Industries Inc., a leading provider of artificial lift technologies for the oil and gas industry and a manufacturer of industrial gears, for approximately $3.3 billion. Lufkin shareholders will receive $88.50 per share in cash for each of their Lufkin shares. […]
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Faroe Petroleum, an independent oil and gas company focusing principally on exploration, appraisal and production opportunities in the Atlantic margin, the North Sea and Norway, has announced the results of the North Uist exploration prospect west of Shetland (Faroe 6.25%). The 213/25c-1V exploration well, operated by BP, targeted several reservoir objectives, the most significant of […]
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Overall confidence levels in the shipping industry recovered to their highest level for two years in the three months ended February 2013, according to the latest Shipping Confidence Survey from international accountant and shipping adviser Moore Stephens. There was improved expectation of freight rate increases over the next twelve months, particularly in the dry bulk […]
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International renewable energy consultancy, SgurrEnergy, has received independent validation of its Galion Lidar wind scanning device from wind energy experts, Deutsche WindGuard. With a 4 year track record of acquiring project critical wind data at wind energy projects around the world, and a series of recent high profile offshore measurement campaigns, Galion Lidar has generated […]
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At the annual Fosnavåg Shippingklubb Cod Dinner, held on March 20, the Foreign Minister of Iceland, Dr. Össur Skarphéðinsson announced that Fafnir Offshore, an Icelandic oil service company, had contracted Havyard Group to build and deliver Iceland’s first platform supply vessel. The Foreign Minister stated that Iceland is ready to embrace the opportunities and meet […]
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The Canadian Association of Petroleum Producers yesterday presented recognition awards to five oil and natural gas companies for innovative environmental, safety and social projects that demonstrate responsible resource development. “Canada’s oil and natural gas industry delivers energy to Canada and the world in a responsible way every day,” said CAPP president Dave Collyer. “These annual […]
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Yesterday at the Fosnavåg Shippingklubb Cod Dinner the Foreign Minister of Iceland, Dr. Össur Skarphéðinsson announced that Fafnir Offshore, an Icelandic oil service company, had contracted HAVYARD GROUP to build and deliver Iceland’s first platform supply vessel. The Foreign Minister stated that Iceland is ready to embrace the opportunities and meet the challenges being brought […]
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Yesterday, at the annual Fosnavåg Shippingklubb Cod Dinner, the Foreign Minister of Iceland, Dr. Össur Skarphéðinsson announced that FAFNIR OFFSHORE, an Icelandic oil service company, had contracted HAVYARD GROUP to build and deliver Iceland’s first platform supply vessel. The Foreign Minister stated that Iceland is ready to embrace the opportunities and meet the challenges being […]
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Business & Finance, Operations & Maintenance
Faroe Petroleum, the independent oil and gas company focusing principally on exploration, appraisal and production opportunities in the Atlantic margin, the North Sea and Norway, provides an operational update. The Company currently has two exploration wells Rodriguez South (Faroe 30%), Norwegian Sea and North Uist (Faroe 6.25%), West of Shetland. Planned near term exploration wells […]
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The Port of Tyne is stepping up the pace in the race to provide clean, green renewable fuels for the future with £180m investment plans for its south bank estate in South Tyneside. On the back of several years of record growth, the Port has focussed its business strategy for further growth on renewable energy […]
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Business & Finance, Equipment, Operations & Maintenance
Benin announced plans to install a second submarine broadband cable in order to increase Internet capacity, African Manager informs. The first phase worth around US$35 million will be funded through the credit from the International Development Association (IDA), repayable over 40 years with 10 years grace period. The funding agreement was signed in 2012 between […]
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Dominion and Caiman Energy have announced they are forming a $1.5 billion joint venture to provide midstream services to natural gas producers operating in the Utica shale in Ohio and portions of Pennsylvania. The companies expect to close on the joint venture by the end of the year. The joint venture, Blue Racer Midstream, LLC, […]
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Underwater turbines are ready for commercial use. Tocardo has developed a turbine that runs in the tidal stream at the locks of the Afsluitdijk in the Netherlands, which is in use and connected to the power grid for four years already. The company is on the threshold of creating a new renewable energy market segment: […]
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Northport (M) Bhd, one of the main maritime gateways in the country, believes that its port capacity-expansion plans will be the catalyst to ride over the expected headwinds that may hit the industry going forward. This is because as a seasoned player, the wholly-owned subsidiary of NCB Holdings Bhd has survived and withstood quite a […]
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Back on the calm waters of the Clyde is Britain’s newest destroyer, which has successfully completed a month being thrown around off Scotland on her first series of trials. The sixth and final Type 45 destroyer HMS Duncan returned to Scotstoun on the north bank of Glasgow’s great artery after four weeks of manoeuvring, gunnery […]
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According to The Hindu, the Merolyn Engineering Works Pvt Ltd is in the race to supply six dredgers worth $600 million (nearly Rs 3,300 crore) to Bangladesh. Kakoli Mitra, the Managing Director of Merolyn, a Kolkata-based company, stated that along with Dutch shipbuilder IHC Merwede and infrastructure major Royal Infraconstru Ltd, Merolyn already bid for […]
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Manson Construction Co. of Seattle announced the sale of the Company to an Employee Stock Ownership Plan (ESOP) owned S-Corp. Verit Advisors, a Chicago-based investment banking firm, was engaged by Manson and its shareholders to provide expertise in structuring a solution that optimized the company’s and shareholders’ objectives. In 1905, Peter Manson began Manson Construction […]
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Manson Construction Co. of Seattle, at the forefront of the marine construction and dredging industry with a presence on all three coasts, announced the sale of the Company to an Employee Stock Ownership Plan (ESOP) owned S-Corp. Verit Advisors, a Chicago-based investment banking firm, was engaged by Manson and its shareholders to provide expertise in structuring […]
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One of the UK’s newest and most versatile ‘marine renewables support vessels’ showed off some of her capabilities at Gills Harbour on the Pentland Firth this week. The one-year-old ‘multi-cat’ vessel Orcadia, which was reported to have cost £3.5 million when she was delivered last year from Damen Shipyards in the Netherlands, was making her […]
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OSX Construção Naval entered into contracts with lending agents BNDES – National Development Bank and CEF – Caixa Econômica Federal for financing with resources from the FMM – Merchant Marine Fund, in the approximate amount of R$ 1.35 billion each, totaling approximately R$ 2.7 billion (USD 1.32 billion) . This R$ 2.7 billion financing is […]
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OSX Brasil S.A., a Brazilian publicly held corporation, focused in the provision of equipment and services to the offshore oil and gas industry, by means of integrated operations in shipbuilding, leasing of exploration and production (E&P) units, and operation and maintenance (O&M) services, hereby informs its shareholders and the market that its subsidiary OSX Construção […]
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Great Lakes Dredge & Dock Corporation, the largest provider of dredging services in the United States and a major provider of commercial and industrial demolition and remediation services, today announced it has closed on a $175 million five year revolving credit facility. Wells Fargo Bank, National Association, (“Wells”) acted as Administrative Agent, Swingline Lender and […]
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Cabinet liaison officer in the Ministry of Works and Transport Grace Mubonenwa said the Ministry of Works and Transport plans to dredge the Zambezi River from Katima Mulilo to Impalila Island to enable the barge to operate through out the year, and that the tender to purchase the dredger has already been awarded. The ministry […]
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The drilling operation will be undertaken by BP Exploration Operating Company Limited using the Stena Carron drilling rig. The other joint venture partners are CIECO Exploration and Production (UK) Limited, Idemitsu Petroleum UK Ltd, Nexen Petroleum U.K. Limited and Faroe Petroleum
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From the Irish town of Wicklow, to the countries of Nigeria, Oman, Dubai, Australia, Ghana and the U.S., people around the world gathered Feb. 2, 2012 to celebrate the importance wetlands play in sustaining the environment. The day marked the 15th anniversary of the signing of the Convention on Wetlands (Ramsar Convention) in Ramsar, Iran, […]
