Fossil Energy
Chevron Profit Plunges on Refining
Chevron Corporation today reported earnings of $5.0 billion ($2.57 per share – diluted) for the third quarter 2013, compared with $5.3 billion ($2.69 per share – diluted) in the 2012 third quarter. Sales and other operating revenues in the third quarter 2013 were $57 billion, compared to $56 billion
Otto Sells ‘Deep Sea 1’ AHTS
Otto Marine Limited has entered into a Memorandum of Agreement (“ MOA ”) to sell an AHTS vessel “DEEP SEA 1” to PT GO Marine International. PT GO Marine International is a company incorporated in Indonesia in which Otto owns 49% share. The vessel, sold for $95 million, is built in Otto’s shipyard in
Statoil Appoints Tanzania Boss
Øystein Michelsen has been appointed Tanzania country manager in Development and Production International, Sub-Saharan Africa (DPI SAF) in Statoil. Michelsen will report to DPI SAF senior vice president Tove Stuhr Sjøblom, and will assume his new responsibilities on 1 January 2014. His office locati
New Offshore Shipping Player Buys Six PSVs
Newly-established offshore shipping company Nordic American Offshore ( NAO ) has agreed to acquire six platform supply vessels from Blue Ship Invest ( BSI ). The vessels are of the PX121 type, and were designed and constructed by ULSTEIN in 2012-13. NAO has its source from the international tanker c
Statoil Alters Sailing Routes to Platforms in North Sea
Statoil has decided to alter its sailing routes from the supply bases in Southern Norway to the platforms in the North Sea. The decision is a result of several years’ work aimed at optimising use of supply vessels and bases. The current sailing routes to the platforms in the North Sea from the bases
EXHEAT Nets FPSO Cidade de Paraty Job
EXHEAT has been awarded the contract to supply a 1365kW Ex e electric gas heater to FPSO Cidade de Paraty. The FPSO will operate under twenty year charter and operate contract on the Lula Nordeste development in the pre-salt area, offshore Brazil. The unit is owned and operated by the following cons
Wood Mackenzie: Danish Fiscal System Changes to Affect Bayerngas the Most
Wood Mackenzie’s analysis of the changes to the Danish fiscal system announced in September 2013, including the reduction in the rate of hydrocarbon tax and the size of hydrocarbon tax allowances, concludes that the changes would result in an increase in government take of US$ 1.15bn. The changes ar
BOEM Releases Activities Overview of the Five Year Program
The Bureau of Ocean Energy Management (BOEM) published the agency’s Annual Progress Report on the Outer Continental Shelf (OCS) Oil and Gas Leasing Program 2012-2017 (Five Year Program), which the Secretary of the Interior approved on August 27, 2012. BOEM prepared the report, which summarizes progr
Sonardyne: Marksman DP-INS Improves Rig Positioning Results
With the continued development of acoustically aided inertial navigation, Sonardyne International Ltd. announces that one of the world’s largest offshore drilling contractors has selected Marksman DP-INS for one of its semi-submersible drilling units. Installed alongside an incumbent Sonardyne dual
BP, UT Team Up in O&G Research Projects
BP announced it will commit $4 million to launch a new strategic partnership with The University of Texas at Austin to support several leading-edge oil and gas industry research projects, with the potential for increased contributions as new studies are identified in the future. The unique collabora
Bulgarian and Russian Sections of South Stream Pipeline Welded Together
The Rasovo compressor station site (Rasovo settlement, Medkovets Municipality, Montana Province) in Bulgaria hosted yesterday a ceremony of welding the first joint of the Bulgarian section of the South Stream gas pipeline. Taking part in the event via video link from the building of the Bulgarian Co
COSL Orders Three Offshore Drilling Rigs
China Oilfield Services Limited, announced that it has signed construction contracts with Dalian Shipbuilding Industry Offshore Co., Ltd. (“DSIC Offshore”) and China Merchants Heavy Industry (Shenzhen) Co., Ltd. for construction of three drilling rigs, namely HYSY982, HYSY 943 and HYSY944, respectiv
Ultrapetrol Expands PSV Fleet with Two Vessels
Ultrapetrol (Bahamas) Limited has taken delivery of two new Platform Supply Vessels (PSVs) of the 4,500 Class type powered by diesel electric engines, DP2, FiFi1, directly from the building yard in China which have cost about $32.0 million each. Ultrapetrol also exercised an option to purchase a sis
DOF Charters “Normand Reach” CSV
Reach Subsea AS announced today that the company has signed a Letter of Intent with DOF Subsea in Norway for the charter of the Normand Reach construction support vessel for a 2 year firm contract with 2 yearly options. Reach Subsea will provide subsea services including 2 Reach Subsea WorkROV syste