Africa
Qatar Petroleum, Chevron in offshore Morocco deal
Qatar Petroleum has reached an agreement with the U.S. oil juggernaut Chevron to buy a 30% participating interest from Chevron’s 75% share in three deep-water offshore leases in Morocco. Under the agreement Qatar Petroleum will acquire an interest in the deep-water leases, while Chevron will retain
Greenpeace: Modern Express Carrying Controversial Cargo
The troubled car carrier Modern Express is carrying a controversial cargo of timber apparently destined for the French market, global environmental group Greenpeace claims. As disclosed, the controversy surrounds the origin and legality of the timber which was bound for Le Havre, France. Namely, the
Pirates Try to Hijack Maersk Line’s Containership
The Nigerian Navy has prevented a group of pirates from hijacking the 28,844 dwt containership Safmarine Kuramo carrying 25 crew members on February 5 off Nigeria, Maersk Line confirmed to World Maritime News. “In the morning of 5 February local time, the container vessel Safmarine Kuramo was attack
Soco starts drilling Mer Profonde Sud Block well (Congo)
Soco International, an oil and gas exploration and production company, has announced that the Baobab Marine-1 (BABM-1) commitment well started drilling on February 5, 2016 in the Mer Profonde Sud Block, located in the Lower Congo Basin, offshore Congo. Soco is the operator of the block with 60% inte
DW Monday: Offshore storage for excess barrels
Brent oil price reached lows of $27/bbl in mid-January, but has recovered over the past two weeks to above the $30/bbl mark. Nevertheless, volatility is expected to remain as the market is yet to find a new equilibrium. So far, only modest cuts in US shale production have been realised, and global o
Highlights of the Week
Subsea World News has put together a recap of the most interesting articles from the previous week (Febuary 01 – Febuary 07). A 22-year-old diver from Karmoy, Norway died on Friday after being critically injured during maintenance work underwater on a platform at Westcon’s shipyard in Ølensvåg. Acco
Top news of the week February 1-6, 2016
Shell delays LNG Canada FID The Hague-based energy giant Shell said it is postponing final investment decision on its multi-billion LNG Canada project in British Columbia to late 2016. Chevron CEO: Angola LNG to ship LNG cargo in 2nd quarter The Chevron-operated $10 billion Angola LNG project is exp
Popular news, February 1 – 7, 2016
Read the most popular news of the week.
Highlights of the Week
Dredging Today brings you an overview of the most popular stories from the past week (February 1-7, 2016). Sas van Vreeswijk Consortium Signs Beatrixsluis Contract The Sas van Vreeswijk consortium has won a contract for the construction of the 3rd chamber Beatrix lock and the widening of the Lekka
Baltic Dry Index Down in the Dumps
The Baltic Dry Index has fell below 300 points, plunging to a new low of 298 points on Thursday, February 4. The Cape Index was down by one point at 208, followed by Supramax index at 271 after a dip of 9 points. Only the Panamax index had a slight improvement with 5 points up […]
International offshore rig count down by 72 units YoY
The international offshore rig count for January 2016 was down both sequentially and year over year, according to a report by Baker Hughes, an oilfield services provider. The international offshore rig count for January 2016 was 242, down 8 from the 250 counted in December 2015, and down 72 from the
Fitch sees dayrates go further down for offshore drillers. Pushes recovery forecast further
Offshore drillers, companies providing drilling rigs for the oil and gas industry’s marine exploration efforts, continue to face murky market conditions, and according to Fitch ratings agency, the situation is nowhere nearly close to improvement. According to Fitch, a 70% drop in oil price, and the