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Hose-in-Hose Transfers Open a New Door to LNG
First of its kind Cryoline floating LNG hose-in-hose transfer system improves safety and lowers operator costs – improving access to LNG fuel Trelleborg’s fluid handling operation, supplier of flexible bonded hose solutions for the crude oil…
BP Exploration Boss Leaves in Reorganization
BP's head of exploration Richard Herbert is leaving the British oil major after slightly more than two years in the job, a period in which the company slashed spending on the search for new deposits. Herbert, a BP veteran and a long-time ally of Chief Executive Bob Dudley…
N-Sea, DOF Enter SAT Dive Cooperation
Subsea IMR provider N-Sea and Subsea Projects and engineering provider DOF Subsea have entered into a two-year cooperation agreement to provide an integrated saturation (SAT) dive service. The principles of the agreement are set out with DOF Subsea providing the dive support vessel Skandi Achiever…
HiLoad LNG Offloading Solution Presented at OTC
HiLoad LNG AS, a subsidiary of Sevan Marine ASA, and Technip presented together this year the HiLoad LNG Parallel Loading System (PLS) at OTC. This system utilizes the HiLoad LNG unit for station keeping and Technip’s cryogenic flexible aerial…
Oil-hungry Bacteria Could Clean Up Next Big Oil Spill
Heriot-Watt scientists have cracked the genetic code of the marine bacteria which helped ‘eat’ the oil spilled in the Deepwater Horizon disaster, information which could aid clean-up efforts for any future major spill. Dr Tony Gutierrez, Associate Professor of Microbiology at Heriot-Watt…
Petrobras Reports Net Loss of $358 Mln
Brazil's state-led oil company, Petroleo Brasileiro SA, reported a 1.25 billion real ($358 million) net loss in the first quarter, according to a company statement. Petrobras, as the company is known, reported net sales, or total sales minus sales taxes, of 70.3 billion reais in the quarter.
JFSE to Aid FSO Replacement at Bouri Pilfield
James Fisher Subsea Excavation (JFSE), part of James Fisher and Sons plc, will deploy its tools and expertise to support its client, EMAS-AMC, at the Bouri oilfield with post-lay trenching and backfilling services. Global offshore marine construction…
With Zero Orders in April, Korean Shipbuilding Goes Dark
Korean shipbuilders, who once dominated the global market, received zero orders in April, says Clarksons Research Services. A report in Korea JoongAng Daily says that out of the 31 orders placed in April worldwide, 18, or 48 percent of the total, went to Chinese shipyards.
MOL Clinches FSRU Charter Deal
Mitsui O.S.K. Lines, Ltd. (MOL; President & CEO: Junichiro Ikeda) today announced that Lakler S.A., 100% subsidiary of MOL has officially agreed to conclude a charter contract, with an eye toward reaching a final deal in June this year, with Gas Sayago…
Indonesian Approved $1.5 bln of O&G Projects from Jan-Apr
Indonesia's upstream oil and gas regulator, SKK Migas, approved development plans for 18 oil and gas projects from January to April, with a total investment of $1.496 billion, it said in a statement on Sunday. SKK Migas estimated the cumulative…
Petrobras' Oil Production Up
Petrobras informs that its total production of oil and natural gas in April was 2.69 million barrels of oil equivalent per day (boed), of which 2.50 million boed were produced in Brazil and 190,000 boed in Foreign coutries. The average oil production in April was 2.12 million barrels per day (bpd)…
Harkand North America Salvaged by MBO
Ethos Offshore Completes Harkand North America Management Buy Out A team led by AJ Jain, Harkand North America Managing Director, has agreed to a management buyout (MBO) of Harkand’s North American and African business. The new company, to be named ETHOS OFFSHORE LIMITED…
BMT Delivers CFD Study for FPSO
BMT Fluid Mechanics (BMT), a subsidiary of BMT Group Ltd., completed a Computational Fluid Dynamics (CFD) study for an oil major operating offshore Nigeria. BMT reports that its scope of work included an assessment of the current loading to which the FPSO hull is subjected to…
Transocean Posts Quarterly Profit on Cost Cutting
Offshore rig contractor Transocean Ltd posted a quarterly profit, compared with a year-earlier loss, as cost cutting helped counter a slump in crude oil prices. The company's net income attributable to controlling interest was $249 million, or 68 cents per share…
U.S. Energy CEOs Ready to Drill as Oil Rebounds
After cutting spending and staff levels to the bone, U.S. oil executives say they are getting ready for new drilling projects as a 50 percent increase in crude prices since February leads them to believe the worst of the downturn may be over.
CFD Study Calculates FPSO Current Coefficients
BMT Fluid Mechanics (BMT), a subsidiary of the international design, engineering and risk management consultancy BMT Group Ltd, has recently completed a Computational Fluid Dynamics (CFD) study for an oil major operating offshore Nigeria. BMT’s…
Oil Price Bottoming Depends on Global Growth - IEA chief
International Energy Agency (IEA) chief Fatih Birol said on Sunday that oil prices may have bottomed but that would depend on global economic growth. Asked if oil prices had reached a bottom, Birol told Reuters: "It may well be the case, but…
JPMorgan sees Sharp Rise in Precarious O&G Loans
JPMorgan Chase & Co disclosed on Friday that its "criticized" loans to the oil and gas industry more than doubled in the first three months of the year. Criticized oil and gas loans, which are defined by regulators as doubtful, substandard or deserving of special mention…
Golar and Schlumberger Reaffirm Partnership
Schlumberger's withdrawal from the Fortuna/Ophir development will not influence its framework agreement with Golar LNG to develop integrated solutions for stranded gas assets, the companies announced today. The two firms said significant effort has been put into the project over the last months…
Oil Rally is Not Just About Hedge Funds: Kemp
Oil prices are becoming dangerously overheated as speculators anticipate a rebalancing of supply and demand that has barely started, according to many oil analysts. "Even as oil rallies, analysts have barely nudged up their price forecasts as…
OPEC Oil Output Near Record High in April as Iran
OPEC's oil output rose in April to close to the highest level in recent history, a Reuters survey found on Friday, as production increases led by Iran and Iraq more than offset a strike in Kuwait and other outages. Top exporter Saudi Arabia…