Business & Finance
Russia: Summa Group Acquires Far Eastern Shipping Company
Summa Group is purchasing a 56% stake in Far Eastern Shipping Company, OJSC (part of the FESCO Group) from the Industrial Investors Company. The acquisition of FESCO will enable Summa Group to expand the geographic area in which it operates and will provide an entrance to three major marine basins t
India: CNPC, ONGC Sign MoU
A landmark MoU for hydrocarbon cooperation was signed between ONGC and CNPC (China National Petroleum Corporation), the global energy giants with strong international presence, by Mr. Sudhir Vasudeva, CMD, ONGC and Mr. Jiang Jiemin, Chairman, CNPC, on June 18, 2012 at New Delhi. This MoU will be a c
USA: API Upstream Director Calls for Expanded Five-Year Offshore Plan
API’s Group Director of Upstream and Industry Operations Erik Milito told reporters yesterday that today’s Central Gulf of Mexico lease sale would help the nation develop its offshore oil and natural gas resources but that there was also a need for a expanded five-year offshore plan if the U.S. goal
Improved LRSSS Sonar Successfully Tested in Puget Sound (USA)
Scientists in the Habitat Research Group (HRG) are conducting studies to identify the essential habitats of eastern Bering Sea species. This includes work to identify suitable predictor variables for quantitative habitat models and to develop tools to map the variables over very large areas. Abundan
Statoil Replaces Navion Saga with Europa (Norway)
Statoil Petroleum AS (Statoil) has received consent to use Navion Europa Floating Storage & Offloading Unit as a replacement for Navion Saga on the Volve field while Navion Saga undergoes main classification along shore. The Volve oil field was developed using a jack-up process and drilling facility
Cargotec Secures Order for Siwertell Ship Unloader from Denmark
Cargotec has secured an order for a Siwertell ship unloader from Denmark’s leading power company, Dong Energy; it will ensure a high-capacity unloading of wood pellets and coal for one of the most efficient power stations of its kind. The order is booked into the first quarter order intake. Dong Ene
Rolls-Royce Strengthens Its Position in the Mediterranean Market
Rolls-Royce, the global power systems company, has signed an £18 million contract with Italian shipyard Rosetti Marino S.p.A for the design and delivery of an integrated power & propulsion and equipment system for an anchor handling vessel. The vessel will be built for Augusta Offshore S.p.A and is
Tritech Expands Global Reach with New Office in North America
Underwater technology specialist Tritech is expanding its global reach with a new office in Houston, Texas. Tritech North America will focus on developing new opportunities in the North American region and establishing closer working relationships with its OEM partners and customers. Opening in the
USA: South Carolina Ports Authority Board Approves Investment Plan
South Carolina Ports Authority (SCPA) Board approved the most aggressive investment plan in the agency’s history, reports abcnews4.com. The Board approved the SCPA’s budget for the 2013 fiscal year, which starts July 1. “This aggressive investment plan for our ports mirrors the significant investmen
USA: FMT Industries to Build Six Tank Barges
FMT Industries, LLC—one of the several companies within the Florida Marine Group (Florida Marine)—has signed a contract with Trinity Offshore, LLC (now known as TY Offshore) to build an additional six 297’6” x 54’ x 12’, 30,000 barrel tank barges. FMT placed its original order for four 30,000 barrel
Rolls-Royce to Equip Anchor Handler for Augusta Offshore (Italy)
Rolls-Royce, the global power systems company, has signed an £18 million (USD 28.3 million) contract with Italian shipyard Rosetti Marino S.p.A for the design and delivery of an integrated power & propulsion and equipment system for an anchor handling vessel. The vessel will be built for Augusta Off
Greece: Paragon Shipping Charters Out MV Precious Seas
Paragon Shipping Inc. announced yesterday that it has taken delivery of the M/V Precious Seas, a 37,205 dwt Handysize vessel, from the Zhejiang Ouhua Shipbuilding Co. in China. The vessel has been chartered out to Cargill International S.A. for a period of 23 to 26 months at a gross daily rate of $1
Norway: Statoil Deputy Chair and Board Member Resigns
Marit Arnstad has informed that she will resign from her position as deputy chair and member of the board of directors in Statoil ASA with immediate effect. The nomination committee in Statoil will start its search for a new board member, and the corporate assembly will make a by-election when the n
Rialto Encounters Oil and Gas Zones at Gazelle ST-2 Well, Offshore Ivory Coast
Rialto Energy Limited has provided an update on drilling operations at the Gazelle-P3 ST2 Well, offshore Côte D’Ivoire as at 06:00hrs, 19 June 2012 (GMT). “Since the last report we are pleased to announce that the well was successfully drilled into the planned Albian target to a total depth of 2959m