U.S. crude oil imports January to June 2001 were above the 2000 level in each month. However, crude oil imports during 3rd quarter were below the 2000-year level for each month. Crude oil imports in August 2001 were about 1.0 mbd below the August 2000 level and the September 2001 level was 0.3 mbd below that of September 2000. Crude oil imports Jan-Sept. 2001 were record high, 0.10 mbd above the Jan-Sep. 2000 level. The highest U.S crude oil imports ever - 9.484 mbd - were recorded in August 2000. U.S. product imports declined dramatically from 3.33 mbd in January 2001 to 2.12 mbd in August, increasing slightly to 2.24 mbd in September 2001. Products imports Jan-Sept. 2001 were also record high, 0.21 mbd above the Jan-Sep. 2000 level. (Source: INTERTANKO News)
According to a report from the Offshore Magazine, Gulf of Mexico oil production is forecast to increase substantially over the next few years, possibly reaching 1.9 MMb/d in 2013 which would be a record high. This is MMS’ best-case scenario, which factors in industry-announced discoveries and undiscovered resources. (Source: Offshore Magazine)
Dutch dredging & marine specialists, Royal Boskalis Westminster N.V. (Boskalis) report revenue & profit higher than in the first half of 2012. The order book increased in recent months and stood at a new record high of EUR 4 billion at the end of the third quarter. Based on current insights, the second half of the year is expected to be strong with a high workload and good results anticipated on a number of dredging projects in progress and close-out results
South Korean shipbuilders were overtaken by their Chinese rivals in new orders acquired in the first four months of the year, a London-based market researcher said on Wednesday. South Korean shipbuilders such as Hyundai Heavy Industries Co and Samsung Heavy Industries Co received a combined 6.9 million compensated gross tons (CGTs) in new orders in the January-April period, up 6.9% from a year ago, Clarkson Research Studies said.
The U.S. oil industry locked horns with environmental regulators last week over a new proposal to make diesel burn cleaner. The Environmental Protection Agency (EPA) proposed this spring to reduce the sulfur content in diesel by 97 percent, starting in 2007, as a way of cutting back on toxic emissions. But at a hearing on the green diesel proposal, oil industry representatives said the EPA was going "too far too fast" and that the rule could cause fuel shortages and surging prices similar to
Wilhelmsen Ships Service has opened a new full service office in Ningbo, providing a comprehensive range of ships agency and maritime logistics services. The company now has five offices in mainland China. “Our strategy has been to strengthen our network across China in order to be present where our customers are operating,” said Captain Bi Yuping – General Manager of WSS Ships Agency & Maritime Logistics China.
Already one of the most aggressive spenders on future supplies, ConocoPhillips CEO James J. Mulva is now poised to make another huge deal: a $30-billion plus acquisition of Burlington Resources (BR), according to a Business Week report. Buying BR would be a giant bet on a red-hot U.S. natural gas market. While Burlington has international operations in Algeria, China, and Latin America, 84% of its reserves are in North America. With U.S
While the international ferver for all things maritime continues to sweep the globe, with record high markets in the construction of ships, boats, and offshore structures, a recent report could serve as the proverbial “shot across the bow” that the market could be starting to cool. With a record number of ships set to enter the market, a recent Bloomberg report said that he cost of shipping coal and iron ore is about to decline as the supply of cargo vessels overwhelms demand.
This world record is established when MES completes the construction of Mitsui-MAN B&W 6S50MC-C Mark 7 at its Tamano Works (Tamano City, Okayama Prefecture) for Sanoyasu Hishino Meisho Corporation (with president Mr. Shinich Kimura), who will install such engine to a chip carrier of 4.35 million cubic feet (shipyard No. 1260) to her owner, Mitsui OSK Lines. In the wake of growing demand for new shipbuilding boosted by active ocean cargo transport
According to reports, South Korean shipbuilders are profiting more from selling high-value units such as offshore plants and liquid gas carriers than ever. Daewoo Shipbuilding and Marine Engineering, already has won a record-high $7 billion in building orders this year, which exceeds last year's record of $6.6 billion. Such high performance was largely affected by the sales of four offshore oilrig units, which amounted to $1.9 billion in total.
Singapore's Swiber Holdings, a construction and support services provider to the offshore oil and gas industry, reported that it has achieved record revenue and net profit for the second consecutive year-running for the full year ended December 31, 2013.
By Ayesha Rascoe, Reuters The Obama administration on Thursday laid out a framework for assessing the amount of crude off the Atlantic coast, another step toward possibly allowing oil production in an area that has been out of reach for decades.
By Jacob Gronholt-Pedersen and Florence Tan, Reuters The Asia-Pacific crude market weakened on Monday with differentials for Russian Sokol depressed by slow demand during peak maintenance season, but a recovery in the naphtha market offset some of the losses.
Statoil's fourth quarter 2013 net operating income was NOK 43.9 billion. In 2013, net operating income was NOK 155.5 billion. At today's Capital Markets Update, Statoil presents its plan for reduced capital expenditure by more than $5 billion (USD) from 2014-16 compared to previous plans
Norway-based TGS, report record high late sales in the fourth quarter of 2013, and inform of four new multi-client surveys: a 3D survey in offshore Northwest Australia, two 2D surveys offshore Madagascar and a 3D survey onshore Alberta, Canada. Net revenues
Great Lakes Dredge and Dock Corp. reports third quarter 2013 results. Dredging delivers a strong quarter with the backlog at a record high of $606-Million. The company says it is evaluating strategic alternatives for its demolition business. Q3 Company highlights in total
World oil reserves increased in 2012 (+2% vs 2011), gas reserves remained almost flat (+0.4% vs 2011) World production of oil and gas is rising (+2.9% and +1.8% vs 2011) World oil consumption is growing (+1% vs 2011), but not in Europe
Anadarko Petroleum Corp (APC.N) reports a quarterly profit compared with a year-earlier loss, as the U.S. oil and gas company's results were helped by higher natural gas prices, according to Reuters. Anadarko has big offshore oil and gas prospects
Total Cruise Industry Spending Topped $399 Million in Louisiana, Employment Up 37 Percent. A 32 percent increase in cruise passengers at the Port of New Orleans in 2012 resulted in huge gains in employment and cruise spending in Louisiana
Korean shipbuilders have dominated the global market, raking in many billions of dollars to help fuel growth in the country, but now a severe slump in the industry is making them a major cause for woes of the economy., reports Arirang News.
Warning that the world is not on track to limit the global temperature increase to 2°C, the International Energy Agency (IEA) urged governments to swiftly enact four energy policies that would keep climate goals alive without harming economic growth.
The landing has been cushioned by a shift in orders from mainstream-type merchant ships towards specialised offshore segment support vessels. According to the BIMCO analysis the shipyard industry seemed to head straight for the output-abyss just 15 months ago
At the end of Q1 2013 the Norwegian company's backlog totalled a record-high NOK 31.6 billion, including incorporated joint ventures. Kvaerner, a specialised provider of engineering, procurement and construction (EPC) services for offshore platforms and onshore plants
Hempel Group reported that its revenues grew by 15% in 2012, despite facing a challenging world market, and the Group is still on track to achieve its long-term goals. The Hempel Group delivered an all-time high revenue of EUR 1,242 million in 2012
China Rongsheng Heavy Industries release financial results for the twelve months ended 31, December 2012. In 2012, the Group recorded approximately RMB 7.96 billion in revenue, a year-over-year decrease of 50% from RMB 15.9 billion. Losses attributable to equity holders of the Company were RMB