News
Schlumberger Revenue Rises to $42.15 Bln
The world’s largest oilfield services provider, Schlumberger, today reported full-year 2012 revenue of $42.15 billion versus $36.96 billion in 2011. Full-year 2012 income from continuing operations attributable to Schlumberger, excluding charges and credits, was $5.58 billion, representing diluted e
Portugal: CCDR Intends to Dredge Guadiana River
Vila Real de Santo António (VRSA) mayor has revealed the regional development office’s (CCDR) intention to dredge the Guadiana River, making it navigable for larger ships up to Alcoutim. CCDR President David Santos announced the intention last week during the signing ceremony for a protocol to creat
Russia: Gazprom Export Appeals against RWE Transgas Court Decision
Gazprom Export appealed to the Vienna Commercial Court on 8th January 2013 against the arbitration decision made on October 4th 2012 concerning the dispute with RWE Transgas. The dispute arose from the non-fulfillment of the take-or-pay clause in the contract on gas supply to the Czech Republic. The
Drewry: Capesize Difficulties Countered by Smaller Vessel Gains
Drewry Maritime Research’s latest Dry Bulk Insight report published in January highlights the changing fortunes of the market. December saw a large drop in the Drewry Hire Index. The dip occurred mainly due to a massive decline in Capesize segment freight rates. A lack of cargo and an oversupply of
France: Sodranord Sarl Bags Important Dredging Contract
Port Atlantique de La Rochelle has awarded a dredging contract to Sodranord S.A.R.L. This contract includes the deepening works to -10.0 for Naval access to the Grand Port Maritime de La Rochelle and the creation of a foundation to -14.50 cm for the future of the Anse St. Mark 2 quay producing about
Wedel Introduces Harbor Redesign Plans (Germany)
The city of Wedel has introduced a plan for the harbor construction works. This plan includes redesign of the Schulauer harbour in Wedel with: – Planned shortening and backfilling to part of the harbour creating a new Port Gate Square; – Widening of the existing harbour basin; – Redesign the harbour
Iv-Groep Wins InfraTech Innovation Prize (The Netherlands)
On the opening day of InfraTech on the 15th of January, it was announced that Iv-Groep won the InfraTech Innovation Prize in the ‘Toegepaste Innovatie’ (Applied Innovation) category for the project ‘Lock Gates Panama Canal’. This year, InfraTech received fifty entries for the InfraTech Innovation Pr
UK and Australia to Pen Defence Treaty
The UK and Australia will strengthen their long-standing relationship today with a new defence treaty to provide a framework for the many strands of co-operation between the two countries. The treaty, to be signed in Perth today, Friday 18 January, with the Australian Defence Minister Stephen Smith,
Transocean Pens Another Sedco 714 Deal with Total (UK)
Transocean, a Switzerland-based offshore drilling contractor, has secured a new contract for its Sedco 714 semi-submersible rig. The drilling company announced in its Fleet Status Report yesterday, that the oil company Total E&P UK, a subsidiary of the French oil major Total, is extending the rig co
Gazprom to Form Joint Company for South Stream in Croatia
Led by the Company’s Management Committee Chairman Alexey Miller, a Gazprom delegation made a business trip to the Republic of Croatia. As part of the visit, working meetings were held with Ivo Josipovic, President of the Republic of Croatia and Vesna Pusic, First Deputy Prime Minister – Foreign Min
DECC Approves Nexen’s Solitaire Development Plan (UK)
Nexen Petroleum U.K. Ltd. announced today that it has received approval from the UK Department of Energy and Climate Change (DECC) to proceed with the Solitaire field development, a project that’s expected to produce eight million barrels of oil. The Solitaire field is located in central North Sea b
UK: North Devon MP Applauds Huge Cash Boost for Marine Energy Projects
Nick Harvey, MP for North Devon, has welcomed a huge cash boost for marine energy projects. The Crown Estate, who own the UK’s seabeds, have announced they will invest £20million in the expansion of wave and tidal projects around the UK. The funding will come as a huge benefit to the growth of the m
UK: North Devon MP Applauds Huge Cash Boost for Marine Energy Projects
Nick Harvey, MP for North Devon, has welcomed a huge cash boost for marine energy projects. The Crown Estate, who own the UK’s seabeds, have announced they will invest £20million in the expansion of wave and tidal projects around the UK. The funding will come as a huge benefit to the growth of the m
Oil Flows Through Brent Pipeline. Cormorant Alpha Rig Remains Shut (UK)
Abu Dhabi National Energy Company PJSC (TAQA) has confirmed that initial flows of crude oil have resumed in the Brent pipeline system following a precautionary shutdown on Monday. The pipeline system, which is operated by TAQA and runs through the Cormorant Alpha platform, was halted after hydrocarb