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World's Biggest Oil Platform May Sink

The world's biggest oil platform, owned by Brazil's state oil giant Petrobras, may sink, sending the death toll to 10 after two powerful explosions rocked the rig earlier Thursday, Petrobras president said. Petrobras President Henri Philippe Reichstul also said the nine workers missing since the blasts have little chance of survival, which would bring the death toll to 10. "The platform is listing 30 degrees and could sink," Reichstul told a press conference in Macae, Rio de Janeiro in a statement reported by Petrobras press department. Early Thursday morning, two powerful blasts rocked the rig, which stood 40 storeys high some 78 miles (125 km) off the coast of Rio de Janeiro state in the Roncador oil field in the Campos Basin, which produces most of Brazil's oil. The platform has capacity to produce 180,000 barrels of crude per day, though it was so far only pumping out about 80,000 barrels per day, or 5 percent of Brazil's total. - (Reuters)


ONGC to Finalize Shipbuilding Contract

According to a June 25 report on livemint.com, India’s biggest oil exploration company, the state-owned Oil and Natural Gas Corp. Ltd (ONGC), is expected to name within a week the winner of a tender to build 12 ships that will support its oil drilling operations. It was reported that Pipavav Shipyard Ltd, India’s newest private sector shipbuilder, has submitted the lowest bid. However, the winner will not be named ahead of a formal announcement by ONGC.


A.P. Moeller Profits Fly Orange

A.P. Moeller, operator of the world's leading container line and a big oil producer, posted sharply higher first-half profits on Thursday and said full year profits would improve considerably on 1999. Consolidated operating profit before depreciation rose 54 percent to $910 million and net profit surged 92 percent to 2.63 billion crowns. The results were slightly below forecasts in a Reuters poll of analysts. Moeller's shares -- up some 28 percent in the past four weeks for a 2001 earnings


Single-Hull Tanker Traffic to Saudi Ports Dwindles

A Dec. 25, 2009 report from Gulf News, said the number of single-hull supertankers bound for Saudi Arabia, the world's biggest oil-producer, fell 50 percent over the past month, according to ship-tracking data compiled by Bloomberg. Trading of single-hull tankers will become more restricted next year under International Maritime Organization regulations. The vessels will require inspections to prove their seaworthiness. (Source: www.gulfnews.com)


Petrobras Sends 20 Ships To Monitor Oil Spill

Petrobras moved about 200 men and 20 ships to monitor oil spilled offshore after the world's biggest rig was rocked by blasts and sank earlier this month. On March 15, three blasts ripped through Petrobras' 40-storey platform, the world's biggest oil rig, killing 11 and spilling about 11,000 gallons of diesel oil. Petrobras has mobilized 11,000 m of retaining barriers, 21 oil collecting units, 18 suction pumps and 40


Royal Dutch/Shell Workers Held Hostage In Nigeria

It was reported that militant youths in Nigeria's Niger Delta are holding 12 Royal Dutch/Shell workers hostage, to press for compensation for an oil spill in their area. Shell officials in Lagos said they were not aware of the kidnapping, which the youths said was to forced the oil company pay $1.5 million compensation for a 1989 oil spillage. Sources said the oil workers, mainly Nigerians, were seized by youths from Arhavwarien community in Ugheli South Local Council in southern Delta


MISC Proposes $973m Deal for Ramunia

MISChas proposed a $973m deal to merge its shipbuilding business with Ramunia Holdings, an oil services company. The merger would expand MISC’s plans to create a regional business building oil rigs to compete against neighbouring Singapore, which is the world’s largest producer of offshore energy platforms. The deal would be a reverse takeover that could allow MISC to list its Malaysia Marine and Heavy Engineering unit under the Ramunia name in hopes of copying the success of Keppel Corp


Exxon Mobil Plans to Drill Wells in Indonesia

Exxon Mobil plans to drill three exploratory wells in an Indonesian offshore oil block over the next three years, a company official said on Wednesday. Exxon Mobil signed an oil contract with the Indonesian government last month 2,062 sq mile of the offshore Surumana block in the Makassar Straits. The government had said that in the case of Surumana, any oil find would be split 65:35 percent between government and contractor. Meanwhile, any gas find would be split 60:40 percent.


Saudi Aramco To Turn Back Some Tankers

Saudi Arabia's state oil company has informed shipping agents at the Gulf state's ports that it will turn back tankers that are not prepared for the Y2K potential computer glitch, an industry source said. Experts on Gulf oil industries say Saudi Arabia -- the world's biggest oil producer -- is the best prepared in the Gulf for Y2K. Saudi Aramco is requiring ship captains to fill out questionnaires to determine if their vessel is Y2K compliant, the industry source said


Shell Aims to Develop Arctic Oil Field

One of the world's biggest oil companies believes Arctic waters, including those north of Alaska, hold huge promise as an oil and gas frontier, according to a Petroleum News report. Facing depletion of its regular oil sources, Shell views the Arctic as a very tantalizing opportunity to develop new oil and gas resources. The company's views tend to support studies by academics and agencies that Arctic basins contain about 25 percent of the world's remaining undiscovered resources


Russia Has No Plan to Cut Oil Output

Russian Energy Minister Alexander Novak

  Russia, the world's biggest energy exporter, does not plan to cut oil production to shore up prices, Rossiya 24 television quoted Energy Minister Alexander Novak as saying on Saturday. Russia, which relies on oil and gas exports for about half its federal budget


Transneft Cites Weather, Suspends Some Liftings

Russian pipeline monopoly Transneft has suspended oil loadings through all Russian ports except for Makhachkala due to bad weather conditions, RIA news agency said on Monday. Russia is the world's second biggest oil exporter behind Saudi Arabia, shipping around 4 million barrels of oil per day


Pirates Launch Renewed Attacks in Nigeria's Oil Delta

Pirates have launched a spate of attacks in the creeks of Nigeria's oil-producing Niger Delta region since last Thursday, killing three policemen and abducting at least nine people, security officials said. Most of those kidnapped were local workers in Africa's biggest oil industry


Multiple Pirate Attacks in Nigeria's Oil Delta

Pirates have launched a spate of attacks in the creeks of Nigeria's oil-producing Niger Delta region since last Thursday, killing three policemen and abducting at least nine people, security officials said. Most of those kidnapped were local workers in Africa's biggest oil industry


Oil Drillers Group to Fight U.S. Export Ban

More than a dozen U.S. oil producers have joined to lobby the federal government to reverse the 40-year-old ban on U.S. crude exports, a move that supporters hope would create jobs and boost national security, a spokesman for one of the companies and a lobbyist for another one said on Friday.


Rosneft Will Continue Arctic Drilling

The Kara-Winter-2014 Ice Expedition. (Photo Courtesy Rosneft)

Russia's biggest oil producer Rosneft will continue drilling in the Arctic Kara Sea on its own after the departure of its partner, U.S. oil major ExxonMobil, due to sanctions, the company's head Igor Sechin said on Friday.  


Total Names Refining Boss to Replace de Margerie

Patrick Pouyanne (Photo: Total)

French oil company Total has appointed refining boss Patrick Pouyanne as chief executive to succeed Christophe de Margerie who was killed in a plane crash in Moscow this week. Pouyanne, 51, head of refining, had been considered as possible candidate to succeed de Margerie in the past and has a


Total CEO Killed in Moscow Runway Accident

Christophe de Margerie

Private jet collided with snow plow during takeoff; Total's CEO a defender of Moscow policies. Insiders Boisseau and Pouyanne long seen as potential successors. The chief executive of French oil major Total, Christophe de Margerie, was killed when his private jet collided with a snow plough as


Lundin Petroleum Hits More Oil, Shares Surge

Norwegian Arctic discovery could be game changer; Lundin Petroleum shares rise 7 percent. Noreco, Det Norske shares also rise on news. Swedish oil firm Lundin Petroleum has made a big oil and gas discovery in the Norwegian Arctic, sending its shares more than 7 percent higher and raising hopes


'Fantasy Fuel': Novozymes Looks to the Future

When Denmark's Novozymes first wondered in 2000 how its mass-produced enzymes could be used to make advanced biofuel, the industry did not exist and only now is the fruit of its labour emerging after years of being lampooned as a "fantasy fuel".


Total Refinery Plans Revealed by Next Spring

La Mede/Lavera plant merger project failed; Total may invest 300 mln euros in La Mede near Marseille. Total, Europe's biggest oil refiner, is giving itself until the spring of 2015 to review its options for the French refining sector, which could include capacity cuts but no site closures


Maersk to Invest Billions, Reap Savings, but No Cash for Shareholders

Photo: Maersk

Denmark's A.P. Moller-Maersk said on Wednesday it would invest billions of dollars in new ships, reap hundreds of millions in savings and announced valuable contracts for its drilling rigs. But shares of the world's largest container shipping company fell more than 3 percent


Rosneft says Exxon Still Continues to Work With it in Arctic

Russia's biggest oil producer Rosneft said on Saturday that Exxon Mobil was still continuing exploration drilling at their joint project in the Arctic Kara Sea. "The work on the University well is continuing according to plan. We are satisfied with the decision of the U.S


Keep it Clean & Green

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When dealing with oil and other hazardous contaminants on vessels and in marine facilities, there are some common misconceptions about the way hydrocarbons biodegrade. “The words biodegrade and bioremediate are not interchangeable,” said Jay H


Oil Falls As Weak U.S. Jobs Data Adds to Demand Worries

  Crude oil futures fell on Friday and ended the week more than 2 percent lower as disappointing jobs data from the United States cast doubt about the strength of economic growth in the world's biggest oil-consuming economy. U.S. jobs figures showed nonfarm payrolls increased by just 142






 
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