Oil News

Warehouse Technician at FMC Technologies

FMC Technologies, Inc. is a leading global provider of technology solutions for the energy industry. Named by FORTUNE® Magazine as the World’s Most Admired Oil and Gas Equipment, Service Company in 2012, the Company has approximately 19,300 employees and operates 30 production facilities in 17 countries. FMC Technologies designs…

Luso – Ultra-reliable compact 5W digital power converter for tough environments

Mar 6 2015 - Power [More Power Articles]Luso Electronics, the sole UK and Ireland representative for SynQor, has announced availability of the MilQor Series Hi-Rel DC-DC converters. In addition to defence and aerospace applications, the high-reliability products are suited to the extremely demanding environmental electrical conditions of oil…

Lloyds completes safety work on Vette FPSO

Lloyd’s Register Consulting completed safety work packages for Aibel regarding an engineering and design contract for the Vette floating productions storage and offloading (FPSO) project. The safety contracts cover quantitative risk assessments, human factors, layers of protection analysis, functional safety, emergency preparedness…

General Electric Company CEO Jeff Immelt Under Scrutiny Amidst Falling Crude Oil Prices

Investors have been scrutinizing the tenure of General Electric Company (NYSE:GE) CEO Jeff Immelt, amidst falling crude oil prices. They fear that the Oil & Gas segment at GE would underperform expectations in lieu of the current state of the global crude oil market.Under Mr. Immelt’s tenure, the company was turning its focus on to high margin and high growth divisions under GE.

Honeywell Bags Project Management, Engineering Deal for Te Giac Trang Field

Honeywell Process Solutions (HPS) announced Thursday it has been selected to handle critical project management and engineering for a third oil and natural gas platform that will tap energy reserves off the coast of Vietnam.Hoang Long Joint Operating Co. (HLJOC) will operate the TGT-H5 wellhead platform located in the Te Giac Trang (TGT) Field off the southern coast of Vietnam.

Fast-track umbilicals for Visund - OE Digital

Statoil's Visund oil and gas field is to benefit from standardized fast-track umbilicals developed by Nexans. The field in the Tampen area of the Norwegian North Sea will be the fifth project to use these standard umbilicals. The standardized umbilicals are made up of electrical and fibre optic cables as well as hydraulic and chemical lines.

Oil Price Volatility - Risks And Opportunities In 2015 - Update 5 - Energy and Natural Resources

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DOI Proposes Additional Regulations For Exploratory Drilling Offshore Alaska « Breaking Energy

Despite the existence of an OCS oil and gas regulatory program, DOI noted that stakeholder engagement revealed the need for new and revised measures for activities involving mobile offshore drilling units (MODUs), such as jack-ups and anchored drillships. The proposed rule focuses on exploratory drilling that uses MODUs…

Royal IHC Merges Four Units into IHC IQIP

Posted by Michelle HowardMarch 6, 2015Royal IHC (IHC) has integrated four of its business units – IHC Hydrohammer, IHC Handling Systems, IHC Sea Steel and IHC Fundex Equipment – into one new organization, which will operate under the name IHC IQIP.IHC said the merger aims to offer a fully integrated solution for on- and offshore installation…

Possibly radioactive ship sent to zmir scrapyard

A team of 150 workers is scheduled to dismantle the ship within a year in the Aliaa shipyard in the Aegean coast.The countrys union of chambers and environmentalists objected to the dismantling decision on the grounds that the ship was loaded with radioactive material. The ship, anchored in Aliaa on Feb. 4, came ashore on Feb.

UN Recommends Libyan Maritime Monitoring Force

By Emmanuel KendemehThe United Nations Organisation (UNO) has requested the creation of a maritime monitoring force to help Libya's government prevent both the flow of weapons into the country and the illegal export of its oil, Associated Press reported.The monitoring force that has to be created by the U.N. Security Council would…

New DVD releases: 'The Hunger Games: Mockingjay Part 1'

THE HUNGER GAMES: MOCKINGJAY PART 1 (Lionsgate) Katniss Everdeen, the "girl on fire," is recruited to be the symbolic leader of the revolt against the Capitol, which has gone on the offensive, has destroyed her home district and is holding her Games-mate Peeta hostage. Third movie in the blockbuster series, based on Suzanne Collins' books, is the first part of the two-part finale.

Petrobras Has a $13.7 Billion Yard Sale

Staggered by $135 billion in debt and scandal, Brazilian state-run oil giant Petroleo Brasileiro SA has announced plans to offload some $13.7 billion in assets. Officials claim this is not a plan to raffle the jewel of the government crown. Instead think fire sale, a maneuver to raise cash and keep creditors at bay. The move plays like a scene in a script coming full circle.

Tanker Operator Markets - Newbuildings at a premium

South Korea’s Dong-A Tanker is reported to have converted its 180,000 dwt Capesize bulker orders at Hyundai Samho Heavy Industries to four 115,000 dwt  LR2s. These vessels are scheduled to be delivered through 2016 and 2017. This move follows Sinokor Merchant Marine decision to convert an order for four 180,000 dwt Capesize bulkers at Daehan Shipbuilding to 114…

Maersk Oil selects Ampelmann walk to work motion compensation gangway

After having performed a walk to work (W2W) campaign in the summer of 2014, motion compensation gangways (MCG) developer Ampelmann has again been awarded a contract from Maersk Oil North Sea UK Limited (MOUK) covering the time charter of its A-Type.MOUK will use the Ampelmann system for a shutdown campaign in the UK sector…

New Timeline for Johan Castberg, Snorre 2040

by Joseph R. FonsecaMarch 6, 2015The licensees in the Johan Castberg and Snorre 2040 licences have decided to spend more time on the projects.“Castberg and Snorre 2040 are two major and important projects in our portfolio, and it is important that we find sound and robust development solutions for them,” says Ivar Aasheim…
Musashi and its sister vessel, Yamato, were two of the largest battleships ever built. US warplanes sank the Musashi on 24 Oct 1944 at the Battle of Leyte Gulf

One of the mightiest of WW2 battleships discovered 70 years after it was sunk — MercoPress

American billionaire Paul Allen has announced the discovery of the famous World War Two Japanese battleship, the Musashi, more than 70 years after it was sunk by US forces. Mr, Allen said the vessel was found by his private exploration team. It was at a depth of more than 1km on the floor of the Sibuyan Sea off the Philippines.Musashi and its sister vessel…

Shipping firms recovery stymied by drop in dry-cargo transport prices

The sharp fall of the Baltic Dry Index (BDI) to a record low has caused serious concerns among Vietnamese shipping firms. The BDI, issued daily by the London-based Baltic Exchange, provides an assessment of the price of moving major raw materials, including coal, iron ore and grain, by sea.It is considered the meter that measures the freight costs of dry cargo around the globe.

Honeywell Selected To Service Third Vietnamese Offshore Platform

Honeywell Process Solutions (HPS) was selected to handle critical project management and engineering for a third oil and gas platform off the coast of Vietnam.Hoang Long Joint Operating Co. will operate the TGT-H5 wellhead platform in the Te Giac Trang (TGT) Field off the southern coast of Vietnam. HPS was the main contractor…

Ex-crewman on Japanese battleship says he recognizes wreckage found this week

March 5, 2015: Filipino World War II historian Professor Rico Jose shows pictures before the Japanese World War II battleship Musashi sank as he talks to reporters at his office in suburban Quezon city, north of Manila. (AP Photo/Aaron Favila)TOKYO –  A former crew member on a Japanese battleship that sank during World…