Sunday, December 19, 2010
Accommodation Barge For Sale -with 1600Ton Crane - Newbuilding- Worldships Oil, gas and offshore equipment marketplace
Accommodation Barge For Sale -with 1600Ton Crane - Newbuilding- Worldships Oil, gas and offshore equipment marketplace: "300 Persons Accommodation Barge for sale"
New 1500HP Electric Drilling Rig - Land Rig- Worldoils Oil, gas and offshore equipment marketplace
New 1500HP Electric Drilling Rig - Land Rig- Worldoils Oil, gas and offshore equipment marketplace: "1500HP Chinese Electric Land Drilling Rig - New"
Friday, December 17, 2010
Thursday, December 16, 2010
Tuesday, December 7, 2010
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Friday, December 3, 2010
Ship Lay-up, Layup Anchorage, Ship Layup in Asia, Malaysia, Rig Stacking in Malaysia, Asia, Ship layup, layup Sevices, Rig Layup, Vessel Layup, Rig Stacking, Shipcare
Ship Lay-up, Layup Anchorage, Ship Layup in Asia, Malaysia, Rig Stacking in Malaysia, Asia, Ship layup, layup Sevices, Rig Layup, Vessel Layup, Rig Stacking, Shipcare
Ship Lay-up, Layup Anchorage, Ship Layup in Asia, Malaysia, Rig Stacking in Malaysia, Asia, Ship layup, layup Sevices, Rig Layup, Vessel Layup, Rig Stacking, Shipcare: "Ship Lay up Services in Malaysia, Asia"
Thursday, December 2, 2010
Oilfield quarters, Oilfield accommodation, Oilfield Camps for Sale, Container camps for oilfields & homes for sale, Prefab building and Accommodation Units
Oilfield quarters, Oilfield accommodation, Oilfield Camps for Sale, Container camps for oilfields & homes for sale, Prefab building and Accommodation Units: "Construction Site Camps, Homes, Living & Office Containers"
Wednesday, December 1, 2010
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Gas and Oil Land Rigs, American Land Rig Builders, Geothermal Drilling Rigs, 1000hp land rigs, 1200 hp land rigs, Used Rig Sellers, for Nigeria, For Libya, For Indonesia, For Venezuela, For Columbia, For Canada, For USA, For Angola
Sunday, November 21, 2010
Thursday, November 18, 2010
Tuesday, November 16, 2010
Cougar Oil and Gas Canada Inc. Announces 3D Seismic Program
CALGARY, ALBERTA, Nov 16, 2010 (MARKETWIRE via COMTEX) -- Cougar Oil and Gas Canada Inc. ("Cougar" or the "Corporation") /quotes/comstock/11k!coug.f (COUGF 1.85, 0.00, 0.00%) is pleased to announce a 23.8Km(2) high resolution 3D seismic program in the Corporation's Trout Core area.
The 3D seismic program will include 79km of source lines and 111Km of receiver lines. The permitting process, including consultation, mapping and licencing, will take approximately 75 days and the seismic program, pending financing, is scheduled for February, 2011. The 3D seismic program, which will take place on 85% working interest Cougar leases, is anticipated to take a total of 25 days in the field.
The 3D seismic program is one of the critical information sources needed to identify the drilling locations on the Corporation's leased lands. The seismic will provide Cougar with the confirmation of structural features that are required to form an effective trap of the oil and natural gas prospects in the Trout core area. The seismic information along with the detailed geological mapping, core analysis and production data that are available as a result of the significant well control in the area is part of the risk management that is completed prior to selecting a drilling location.
The 3D seismic program is classified as a Canadian Exploration Expense, which is eligible as a CRA flow through financing project.
Mr. William Tighe, CEO and Chairman of the Board for Cougar stated, "We are very excited to be able to kick off this high resolution 3D seismic program. We have finished a geological review of the proposed seismic area and anticipate the seismic data will enable us to firmly identify multiple drilling locations which will form the foundation of Cougar's development plans over the next 18-24 months. The seismic will enable us to accurately define a large geological anomaly which appears to be a perfect candidate for a multi-well horizontal drilling program. The high resolution of the 3D seismic will also enable us to identify potentially prolific single well Keg River and Granite Wash oil pools which will be developed with vertical wells.
This seismic program in conjunction with the previously announced multi-well drilling program will be the critical components to accelerating Cougar's growth. Over the last twelve months the Corporation has focused on optimizing existing wellbores and we look forward to supplementing that optimization work with a consistent exploration and development drilling component as we continue towards our corporate goal of achieving 2000 barrels of oil production per day by the end of 2011.
In addition on November 12, 2010, we filed our annual audited financials - Form 20- F on EDGAR, substantially ahead of the required schedule, in order to support the application to the NYSE Amex listing."
About Cougar Oil and Gas Canada Inc.:
Cougar Oil and Gas Canada Inc. (cougf:BB) is based in Calgary, Alberta, Canada and a publicly traded oil and gas exploration and production company. The focus is on the exploration and development of Canadian based onshore oil and gas properties. The current projects are the Trout light oil production area in north central Alberta, Lucy in the Horn River Basin in northeast British Columbia and First Nation Joint Venture and area projects located in north central Alberta.
Additional information is at http://www.cougaroilandgascanadainc.com/. or http://www.cougarenergyinc.com/.
Forward-looking Statements: This press release contains forward-looking statements. The words or phrases "would be," "will" "intends to," "will likely result," "are expected to," "will continue," "is anticipated," "estimate," or similar expressions are intended to identify "forward-looking statements". The Company's business is subject to various other risks and uncertainties, which may be described in its corporate filings (http://www.sec.gov/) or (SEDAR in Canada). Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. The Company cautions readers not to place reliance on such statements. Cougar Oil and Gas Canada Inc. undertakes no obligation to update or publicly revise forward looking statements or information unless so required by applicable securities laws.
Contacts: Cougar Oil and Gas Canada Inc. Investor Relations +1(403) 513-2664 http://www.cougaroilandgascanadainc.com/http://www.cougarenergyinc.com/
Fugro – new version of Seismic data management software
Fugro Data Management has released version 6.0 of its Trango Seismic
data management software, with tools to track the history of data, and
with integration with OpenSpirit
Fugro Data Management, the data management division of geosciences and survey company Fugro, has launched a new version of its Trango Seismic 6.0 tool for upstream seismic data management, which allows users to track the parentage or hierarchy of data files (“lineage”) and has integration with OpenSpirit, so it can be used to manage data which is only stored in interpretation packages.
The company is planning similar upgrades in the fourth quarter of 2010 for its software package for well data, “Trango Well Manager”, and its software for geological reports.
The lineage function provides the ability to see all the iterations of what’s happened to a piece of data, says Leonard Hendricks, VP for Trango at Fugro Data Solutions (Canada).
“For example, if you’ve got the original field tapes from offshore seismic acquisitions shoots, then you can see someone did some preliminary work to create a prestack set of files. From there, there was work to create a stack file.”
“Then maybe inversion was performed on it, or another post stack process was built on it. Or perhaps you have gravity or magnetic field data. There could be 2 or 3 different sets of processes.”
The software will record what work was done, when it was done and whhere it is located, he says.
The system is useful if later work shows an error in the process and you want to retrace your steps. If you redo an earlier step, you want to know what files were generated out of the faulty data and make sure they are replaced.
Or maybe one aspect of the data will become more important in the future (for example if it is about a region where major finds have been made or seismic can no longer be shot) and you want to find the ‘parent’ data and work that data or project again.
OpenSpirit
The interface with OpenSpirit enables data to be managed within Trango which are stored within people’s interpretation software. It doesn’t matter which interpretation software they are using, as long as it is compatible with OpenSpirit.
OpenSpirit provides a range of tools to enable different geological and geophysical software packages to interoperate.
Many independent oil companies sometimes only have data in interpretation environments, by using Trango software with the Open Spirit interface they can access all of this data in other systems, and can copy available meta-data, trace outlines and data location into Trango.
Trango indexes all of the data (eg by project or survey name) through OpenSpirit to the interpretation files. This means that everybody in the company knows which interpretation projects exist around the company, what datasets have been loaded into them, and who is working on them.
The company is developing the same capability for its Well Manager tool to manage well data, where there will be a ‘lineage system’ – you can retrieve original logs, and then the interpreted logs after various pieces of processing work have been done.
Via integration with OpenSpirit, you can pull out metadata for the same wells from other software packages, or other software packages can pull data out from Trango via OpenSpirit.
Driving take-up
There are many factors driving an increased interest in data management systems for seismic data.
There is a growth of interest in 4D data (where people want to see how seismic data has changed over time). “A lot of the old files are becoming more important,” he says.
Some companies developed data management systems in-house, and are finding that it might be a good time to bring in a commercial system, he says. Companies sometimes want a more formal data management tool as they get bigger that is commercially maintained with functionality input from many different E&P companies.
Sometimes companies only use public seismic data, and they think they don’t need to bother having data management systems of their own, because they can always get the data from the public source whenever they need it. But then they realise that they are not tracking the work they are doing with the data and what value they are adding to it, and look for a tool like Trango, he says.
Mr Hendricks says that many companies consider a data management tool after they’ve been through an acquisition, for example as a way of organising the data of a company which has been acquired.
Many companies don’t even have a master list of their seismic assets, he says. “We often find customers, the first output they’re looking for, is a map of all the seismic assets they have.”
Everybody has maps, of course, but not complete ones, which show everything you need to understand your company’s seismic data – such as whether the data is licensed, proprietary, or the company only has rights to it for a period of time, or perhaps has exclusive rights for a period of time. “This information is not important in an interpretation package,and therefore not captured in that environment” he says.
But this information can be very useful for many people in the company – particularly if it gives the company a chance to sell licenses to, or trade data which they own but are not currently interested in, with data someone else has which would otherwise cost them a lot of money.
For more information please contact info@fugro-data.ca
data management software, with tools to track the history of data, and
with integration with OpenSpirit
Fugro Data Management, the data management division of geosciences and survey company Fugro, has launched a new version of its Trango Seismic 6.0 tool for upstream seismic data management, which allows users to track the parentage or hierarchy of data files (“lineage”) and has integration with OpenSpirit, so it can be used to manage data which is only stored in interpretation packages.
The company is planning similar upgrades in the fourth quarter of 2010 for its software package for well data, “Trango Well Manager”, and its software for geological reports.
The lineage function provides the ability to see all the iterations of what’s happened to a piece of data, says Leonard Hendricks, VP for Trango at Fugro Data Solutions (Canada).
“For example, if you’ve got the original field tapes from offshore seismic acquisitions shoots, then you can see someone did some preliminary work to create a prestack set of files. From there, there was work to create a stack file.”
“Then maybe inversion was performed on it, or another post stack process was built on it. Or perhaps you have gravity or magnetic field data. There could be 2 or 3 different sets of processes.”
The software will record what work was done, when it was done and whhere it is located, he says.
The system is useful if later work shows an error in the process and you want to retrace your steps. If you redo an earlier step, you want to know what files were generated out of the faulty data and make sure they are replaced.
Or maybe one aspect of the data will become more important in the future (for example if it is about a region where major finds have been made or seismic can no longer be shot) and you want to find the ‘parent’ data and work that data or project again.
OpenSpirit
The interface with OpenSpirit enables data to be managed within Trango which are stored within people’s interpretation software. It doesn’t matter which interpretation software they are using, as long as it is compatible with OpenSpirit.
OpenSpirit provides a range of tools to enable different geological and geophysical software packages to interoperate.
Many independent oil companies sometimes only have data in interpretation environments, by using Trango software with the Open Spirit interface they can access all of this data in other systems, and can copy available meta-data, trace outlines and data location into Trango.
Trango indexes all of the data (eg by project or survey name) through OpenSpirit to the interpretation files. This means that everybody in the company knows which interpretation projects exist around the company, what datasets have been loaded into them, and who is working on them.
The company is developing the same capability for its Well Manager tool to manage well data, where there will be a ‘lineage system’ – you can retrieve original logs, and then the interpreted logs after various pieces of processing work have been done.
Via integration with OpenSpirit, you can pull out metadata for the same wells from other software packages, or other software packages can pull data out from Trango via OpenSpirit.
Driving take-up
There are many factors driving an increased interest in data management systems for seismic data.
There is a growth of interest in 4D data (where people want to see how seismic data has changed over time). “A lot of the old files are becoming more important,” he says.
Some companies developed data management systems in-house, and are finding that it might be a good time to bring in a commercial system, he says. Companies sometimes want a more formal data management tool as they get bigger that is commercially maintained with functionality input from many different E&P companies.
Sometimes companies only use public seismic data, and they think they don’t need to bother having data management systems of their own, because they can always get the data from the public source whenever they need it. But then they realise that they are not tracking the work they are doing with the data and what value they are adding to it, and look for a tool like Trango, he says.
Mr Hendricks says that many companies consider a data management tool after they’ve been through an acquisition, for example as a way of organising the data of a company which has been acquired.
Many companies don’t even have a master list of their seismic assets, he says. “We often find customers, the first output they’re looking for, is a map of all the seismic assets they have.”
Everybody has maps, of course, but not complete ones, which show everything you need to understand your company’s seismic data – such as whether the data is licensed, proprietary, or the company only has rights to it for a period of time, or perhaps has exclusive rights for a period of time. “This information is not important in an interpretation package,and therefore not captured in that environment” he says.
But this information can be very useful for many people in the company – particularly if it gives the company a chance to sell licenses to, or trade data which they own but are not currently interested in, with data someone else has which would otherwise cost them a lot of money.
For more information please contact info@fugro-data.ca
Seadrill secures new contracts for jack-ups
Hamilton, Bermuda, August 13, 2010 - Seadrill's majority owned subsidiary Scorpion Offshore Ltd. has received a binding Letter of Agreement for a two well firm plus two optional wells contract for Offshore Vigilant in Venezuela with Cardon IV S.A. Firm contract duration is estimated to 240 days with an option for extension of approximately 240 further days. Contract value for the firm period is approximately US$37.2 million. A one well new contract has been signed for Offshore Resolute in Vietnam. Contract duration is estimated to 55 to 70 days and the contract value is approximately US$5.8 to 7.4 million.
Seadrill has also secured a contract with Premier Oil in Indonesia for the newbuild jack-up West Callisto. The program in the Natuna Sea has an anticipated firm duration of around 230 days with options for extension of approximately 180 further days. Contract value for the firm part is estimated at US$27.4 million.
In addition, Seadrill has been awarded an assignment with PT PAN (P.T. Pertalahan Arnebatara Natuna) in Indonesia for the newbuild jack-up West Leda. The contract value for the 90 day firm operating period is estimated to be US$12.4 million.
Both West Callisto and West Leda will subsequent to some mobilization related activities relocate directly from the yard and start operations under their new assignments, meeting customer's needs in terms of rig delivery.
Alf C Thorkildsen, Chief Executive Officer in Seadrill Management AS, says, "The placement of these rigs, representing a total of some US$84 million, is a milestone achievement in Seadrill's strategy of becoming the leading provider of ultra-modern jack-ups world wide. These contracts further underline the importance of our recent acquisition of Scorpion Limited, adding earnings visibility at what we believe are competitive terms and conditions.
Contact:
Jim Dåtland
Vice President Investor Relations
Seadrill Management AS
+47 51 30 99 19
Seadrill has also secured a contract with Premier Oil in Indonesia for the newbuild jack-up West Callisto. The program in the Natuna Sea has an anticipated firm duration of around 230 days with options for extension of approximately 180 further days. Contract value for the firm part is estimated at US$27.4 million.
In addition, Seadrill has been awarded an assignment with PT PAN (P.T. Pertalahan Arnebatara Natuna) in Indonesia for the newbuild jack-up West Leda. The contract value for the 90 day firm operating period is estimated to be US$12.4 million.
Both West Callisto and West Leda will subsequent to some mobilization related activities relocate directly from the yard and start operations under their new assignments, meeting customer's needs in terms of rig delivery.
Alf C Thorkildsen, Chief Executive Officer in Seadrill Management AS, says, "The placement of these rigs, representing a total of some US$84 million, is a milestone achievement in Seadrill's strategy of becoming the leading provider of ultra-modern jack-ups world wide. These contracts further underline the importance of our recent acquisition of Scorpion Limited, adding earnings visibility at what we believe are competitive terms and conditions.
Contact:
Jim Dåtland
Vice President Investor Relations
Seadrill Management AS
+47 51 30 99 19
Wednesday, November 10, 2010
Tuesday, November 9, 2010
Container handling in Mangalore, Shipping Agents in Mangalore, Shipping Agency in Mangalore, Clearing and Forwarding in Mangalore, Shipping Consultancy in Mangalore, Survey work in Mangalore, Export & Import work in Mangalore, Customs work in Mangalore, Crew change in Mangalore
Container handling in Mangalore, Shipping Agents in Mangalore, Shipping Agency in Mangalore, Clearing and Forwarding in Mangalore, Shipping Consultancy in Mangalore, Survey work in Mangalore, Export & Import work in Mangalore, Customs work in Mangalore, Crew change in Mangalore: "Shipping Agencies & Consultants"
Sunday, November 7, 2010
Offshore Accommodation Module with Helideck for Sale.- Worldoils Oil, gas and offshore equipment marketplace
Offshore Accommodation Module with Helideck for Sale.- Worldoils Oil, gas and offshore equipment marketplace: "Offshore Accommodation Module with Helideck for Sale"
Offshore Accommodation Module with Helideck for Sale.- Worldoils Oil, gas and offshore equipment marketplace
Offshore Accommodation Module with Helideck for Sale.- Worldoils Oil, gas and offshore equipment marketplace: "Offshore Accommodation Module with Helideck for Sale"
Wednesday, November 3, 2010
5150 bhp AHTS available for charter- Worldoils Oil, gas and offshore equipment marketplace
5150 bhp AHTS available for charter- Worldoils Oil, gas and offshore equipment marketplace: "5150 bhp anchor handling/tug/supply vessel for charter"
Monday, November 1, 2010
International Towage - Worldwide Emergency Towage - International Emergency Towage- Worldoils Oil, gas and offshore equipment marketplace
Semi-Submersible Heavy Lift Barge - 122mts - 2009 built- Worldoils Oil, gas and offshore equipment marketplace
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LCT for sale - Landing Craft for sale - LCT type Cargo/RORO Ship - Built 1981 Rebuilt 2005- Worldoils Oil, gas and offshore equipment marketplace
Sunday, October 31, 2010
Workover Rigs for sale, Mobile Workover Land Rigs, Trailer Mounted Land Rigs, Land Rig Builders, Drilling Land Rigs, 1000 hp land rigs, 1500hp Land Rigs, Land Rigs Dealers, for Nigeria, For Libya, For Mexico, For Egypt, For Canada, For Indonesia, For Venezuela, For Columbia, For Canada, For USA, For Angola
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Tuesday, October 26, 2010
Landing Craft for sale - LCT for sale - LCT type Cargo/RORO Ship - Built 1981 Rebuilt 2005- Worldoils Oil, gas and offshore equipment marketplace
Landing Craft for sale - LCT for sale - LCT type Cargo/RORO Ship - Built 1981 Rebuilt 2005- Worldoils Oil, gas and offshore equipment marketplace: "Landing Craft for sale - LCT for sale - LCT type Cargo/RORO Ship - Built 1981 Rebuilt 2005"
Sunday, October 24, 2010
Thursday, October 7, 2010
Tuesday, October 5, 2010
Sunday, October 3, 2010
Friday, October 1, 2010
Crane barge undergoes major overhaul
Offshore staff
KUALA LUMPUR. Malaysia -- Leighton Offshore has relaunched its crane barge Leighton Mynx following an upgrade program.
The scope of work included the installation of new accommodation facilities for 165 personnel, a CAP437-compliant helideck, hull strengthening, new 50-metric ton (55-ton) mooring winches and associated control system, and three new 820 kW main generators and one 520 kW emergency generator.
Leighton also added a new Manitowoc 16000 crawler crane (400-metric ton, or 441-ton, capacity), designed for offshore use.
The vessel, built in 2006, has performed installation of five single point moorings on the east and west coasts of India and completed topside modifications on the Mumbai High field.
Leighton Mynx is now being mobilized to northwest India to undertake work associated with the Mangala pipeline project for Cairn Energy India.
09/27/2010
This is an extract from http://www.pennenergy.com/index/petroleum/display/0375640449/articles/offshore/equipment-engineering/asia-pacific/2010/09/crane-barge_undergoes.html
KUALA LUMPUR. Malaysia -- Leighton Offshore has relaunched its crane barge Leighton Mynx following an upgrade program.
The scope of work included the installation of new accommodation facilities for 165 personnel, a CAP437-compliant helideck, hull strengthening, new 50-metric ton (55-ton) mooring winches and associated control system, and three new 820 kW main generators and one 520 kW emergency generator.
Leighton also added a new Manitowoc 16000 crawler crane (400-metric ton, or 441-ton, capacity), designed for offshore use.
The vessel, built in 2006, has performed installation of five single point moorings on the east and west coasts of India and completed topside modifications on the Mumbai High field.
Leighton Mynx is now being mobilized to northwest India to undertake work associated with the Mangala pipeline project for Cairn Energy India.
09/27/2010
This is an extract from http://www.pennenergy.com/index/petroleum/display/0375640449/articles/offshore/equipment-engineering/asia-pacific/2010/09/crane-barge_undergoes.html
Sembcorp lands FPSO contracts
Singapore-based rig builder Sembcorp has secured two floating production, storage and offloading contracts worth S$75 million (US$56.7 million) to be carried out at its Sembawang shipyard.
Upstream staff 28 September 2010 06:12 GMT
Sembcorp said the first contract was awarded by Norway’s BW Offshore for the conversion of a 97,000 dead weight tonnage tanker, BW Genie, into a floating production unit.
The company will carry out engineering and fabrication works including the installation of a new helideck and flare tower as well as upgrades to the accommodation facilities.
Sembcorp will also carry out repairs to extend the life of the vessel for another 20 years and expects to re-deliver the vessel to BW Offshore during the fourth quarter of next year to be stationed at the Terang Sirasun Batur field, offshore Indonesia.
The second contract was awarded by Bluewater Energy Services to upgrade the Glas Dowr FPSO and extend the life of the vessel for another 10 years.
Sembcorp said work on the vessel was expected to be completed during the second quarter of 2011 for deployment in the Kitan field in the Timor Sea.
Published: 28 September 2010 06:12 GMT
Last updated: 28 September 2010 08:26 GMT
This is an extract from http://www.upstreamonline.com/live/article230643.ece
Upstream staff 28 September 2010 06:12 GMT
Sembcorp said the first contract was awarded by Norway’s BW Offshore for the conversion of a 97,000 dead weight tonnage tanker, BW Genie, into a floating production unit.
The company will carry out engineering and fabrication works including the installation of a new helideck and flare tower as well as upgrades to the accommodation facilities.
Sembcorp will also carry out repairs to extend the life of the vessel for another 20 years and expects to re-deliver the vessel to BW Offshore during the fourth quarter of next year to be stationed at the Terang Sirasun Batur field, offshore Indonesia.
The second contract was awarded by Bluewater Energy Services to upgrade the Glas Dowr FPSO and extend the life of the vessel for another 10 years.
Sembcorp said work on the vessel was expected to be completed during the second quarter of 2011 for deployment in the Kitan field in the Timor Sea.
Published: 28 September 2010 06:12 GMT
Last updated: 28 September 2010 08:26 GMT
This is an extract from http://www.upstreamonline.com/live/article230643.ece
SEA-Tank opens Antwerp terminal
SEA-Tank Terminal Antwerp, a member of the SEA-Invest Group, has opened a new terminal for the storage of fuel oils, gasoils, petrol and biofuels.
The terminal, built at quay 254-312 at the 6th Harbour dock in the Port of Antwerp, harbours 515,000m3 of storage capacity in 30 liquid tanks ranging from 1,000m³ up to 48,000m³. There is also the potential to expand the surface area a further 80,000m².
The €150 million terminal will have a total estimate throughput of 7 million tonnes a year. It has three product group tank pits and two multi-product group tank pits. Pumping capacity is up to 3,000 m³/h. It can accommodate sea-going vessels up to 150,000 DWT, LOA 295m, with a draft of 14.5m.
The terminal also boasts 14 loading positions of which seven berths are for barges, five berths for mid-range sea-going vessels, and two berths are for large range sea-going vessels. It has 27 product group dedicated marine loading arms.
The terminal can be considered as a benchmark in its kind, addressing all possible needs of its customers with regards to storage, mixing and blending activities, the company comments. Furthermore, the unique jetty allows simultaneous loading and unloading of numerous vessels, while delay time is further reduced by dedicated lines and loading arms to avoid time consuming cleaning operations.
In addition the facility has high level of process control and automatisation, optimising quality assurance, efficiency and safety in its operations.
All tanks are equipped with water and foam protection in case of emergency and the whole terminal has an automated emergency intervention programme which can be activated from the safety of the control rooms. To minimise its environmental impact, the relevant tanks have internal floating roofs and loading emission are treated in a specialised vapour recovery unit.
SEA-Tank Terminal, the liquid division of SEA-invest, has a total storage capacity of 1.1 million m³ in six terminals located at two ports in Belgium (Ghent and Antwerp) and two ports in France (Rouen and Bordeaux).
This is an extract from http://www.biofuels-news.com/industry_news.php?item_id=2602
The terminal, built at quay 254-312 at the 6th Harbour dock in the Port of Antwerp, harbours 515,000m3 of storage capacity in 30 liquid tanks ranging from 1,000m³ up to 48,000m³. There is also the potential to expand the surface area a further 80,000m².
The €150 million terminal will have a total estimate throughput of 7 million tonnes a year. It has three product group tank pits and two multi-product group tank pits. Pumping capacity is up to 3,000 m³/h. It can accommodate sea-going vessels up to 150,000 DWT, LOA 295m, with a draft of 14.5m.
The terminal also boasts 14 loading positions of which seven berths are for barges, five berths for mid-range sea-going vessels, and two berths are for large range sea-going vessels. It has 27 product group dedicated marine loading arms.
The terminal can be considered as a benchmark in its kind, addressing all possible needs of its customers with regards to storage, mixing and blending activities, the company comments. Furthermore, the unique jetty allows simultaneous loading and unloading of numerous vessels, while delay time is further reduced by dedicated lines and loading arms to avoid time consuming cleaning operations.
In addition the facility has high level of process control and automatisation, optimising quality assurance, efficiency and safety in its operations.
All tanks are equipped with water and foam protection in case of emergency and the whole terminal has an automated emergency intervention programme which can be activated from the safety of the control rooms. To minimise its environmental impact, the relevant tanks have internal floating roofs and loading emission are treated in a specialised vapour recovery unit.
SEA-Tank Terminal, the liquid division of SEA-invest, has a total storage capacity of 1.1 million m³ in six terminals located at two ports in Belgium (Ghent and Antwerp) and two ports in France (Rouen and Bordeaux).
This is an extract from http://www.biofuels-news.com/industry_news.php?item_id=2602
Tuesday, September 28, 2010
Thursday, September 16, 2010
Monday, September 6, 2010
Tuesday, August 31, 2010
Sunday, August 29, 2010
Anchor Handling Tug Supply Vessel For Sale - 2005 built - 75T BP - 5444bhp- Worldoils Oil, gas and offshore equipment marketplace
Anchor Handling Tug Supply Vessel For Sale - 2005 built - 75T BP - 5444bhp- Worldoils Oil, gas and offshore equipment marketplace: "5000BHP AHTS FiFi 2005 built For Sale"
Anchor Handling Tug Supply Vessel For Sale - 2005 built - 75T BP - 5444bhp- Worldoils Oil, gas and offshore equipment marketplace
Anchor Handling Tug Supply Vessel For Sale - 2005 built - 75T BP - 5444bhp- Worldoils Oil, gas and offshore equipment marketplace: "5000BHP AHTS FiFi 2005 built For Sale"
Monday, August 23, 2010
Sunday, August 22, 2010
Tuesday, August 17, 2010
3500bhp Utility Supply Vessel - 2005 built - 45mts- Worldoils Oil, gas and offshore equipment marketplace
3500bhp Utility Supply Vessel - 2005 built - 45mts- Worldoils Oil, gas and offshore equipment marketplace: "3500bhp Utility Supply Vessel - 2005 built - 45mts"
Multi-purpose Offshore Support Vessel MPV for sale- Worldoils Oil, gas and offshore equipment marketplace
Multi-purpose Offshore Support Vessel MPV for sale- Worldoils Oil, gas and offshore equipment marketplace: "Multi-purpose Offshore Support Vessel MPV for sale"
Monday, August 16, 2010
Sunday, August 15, 2010
World Oil and Gas Directory, World Offshore Directory, World Subsea Directory, World Maritime Directory, World Marine Directory
World Oil and Gas Directory, World Offshore Directory, World Subsea Directory, World Maritime Directory, World Marine Directory: "Worldwide Oil, Gas, Offshore & Marine Equipment, Suppliers and Services Directory"
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Thursday, August 12, 2010
ONS 2010 in Stavanger, Norway, , Worldoils.com events subsystem
ONS 2010 in Stavanger, Norway, , Worldoils.com events subsystem: "Offshore & Maritime Conferences"
Monday, August 2, 2010
Thursday, July 29, 2010
Website for vessel sales, Website for Vessel charters, Maritime Sales Website, Ship Sales Website, Ship Sale Marketplace, Passemger Ships For sale, Passenger Ferries For Sale
Wednesday, July 28, 2010
Monday, July 26, 2010
Oil & Gas events, Oil & Gas Conference, 2nd Asia Offshore Operation & Development 2010 in Beijing , European Base Oils & Lubricants Summit in London ,
Oil & Gas events, Oil & Gas Conference, 2nd Asia Offshore Operation & Development 2010 in Beijing , European Base Oils & Lubricants Summit in London ,: "5th Annual Pipeline Development & Expansion Conference in Houston"
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Tuesday, July 20, 2010
Ingersoll-Rand RD20 Range II - year 2000- Worldoils Oil, gas and offshore equipment marketplace
Ingersoll-Rand RD20 Range II - year 2000- Worldoils Oil, gas and offshore equipment marketplace: "Used Ingersoll Rand Range II Drilling Rig for sale"
New Unused Drilling Pipe for Sale - 5 inch, US$66 per foot- Worldoils Oil, gas and offshore equipment marketplace
New Unused Drilling Pipe for Sale - 5 inch, US$66 per foot- Worldoils Oil, gas and offshore equipment marketplace: "Land Rig New Drill Pipes in Sharjah, Dubai, Middle East"
Monday, July 19, 2010
Wednesday, July 14, 2010
Friday, July 9, 2010
Wednesday, July 7, 2010
Schottel Rudder Propellers SRP 505 Steerable Z-Drive for sale- Worldoils Oil, gas and offshore equipment marketplace
Schottel Rudder Propellers SRP 505 Steerable Z-Drive for sale- Worldoils Oil, gas and offshore equipment marketplace: "Schottel Rudder Propellers SRP 505 Steerable Z-Drive for sale"
Monday, July 5, 2010
Wednesday, June 30, 2010
Schramm Drilling Rig T685 WS - Used - 1999 - For Sale- Worldoils Oil, gas and offshore equipment marketplace
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Monday, June 28, 2010
Wednesday, June 23, 2010
Tuesday, June 22, 2010
Monday, June 21, 2010
Oil & Gas Jobs : Senior Sales Associate Jobs in Singapore
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Sunday, June 20, 2010
Thursday, June 17, 2010
Oil and Gas Jobs : Principal Mechanical Engineer Jobs in Australia
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Wednesday, June 16, 2010
Senior Subsea Engineer jobs in DublCalgary, Driller Jobs in Bahrain,
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Complete BOP Control System - Worldoils Oil, gas and offshore equipment marketplace
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Sunday, June 13, 2010
Oil & Gas Directory, Offshore Equipment suppliers, subsea equipment suppliers, in Jakarta, Indonesia , in Croatia , Drill string and bottom hole assembly components ,
Oil, Gas and Offshore Equipments marketplace, Oil & gas equipments
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Saturday, June 12, 2010
Oil Price History, Historical Oil Prices, Oil Price Research
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Wednesday, June 9, 2010
15000psi Cameron Subsea BOP Stack For Sale - 18 3/4inch- Worldoils Oil, gas and offshore equipment marketplace
15000psi Cameron Subsea BOP Stack For Sale - 18 3/4inch- Worldoils Oil, gas and offshore equipment marketplace: "15000psi Cameron Subsea BOP Stack For Sale - 18 3/4inch"
Friday, June 4, 2010
The Future of the Offshore Drilling Industry to 2015 - Report- Worldoils Oil, gas and offshore equipment marketplace
The Future of the Offshore Drilling Industry to 2015 - Report- Worldoils Oil, gas and offshore equipment marketplace: "Market Analysis, Capital Expenditure and Competitive Landscape"
Wednesday, May 26, 2010
Tuesday, May 25, 2010
Monday, May 24, 2010
Sunday, May 16, 2010
Saturday, May 15, 2010
Monday, May 10, 2010
Sunday, May 9, 2010
Oil Price Forecast 2010 - Crude Oil Forecast 2010 - What will the Crude Oil prices be in December 2010? - Oil & Gas Prices - Oil & Gas Forums - Worldoils
Thursday, April 29, 2010
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Sunday, April 18, 2010
Crude price rise good news for oil equipment suppliers
The pick-up in crude oil prices is expected to help oil equipment providers in getting more orders. We expect crude prices to test $90 a barrel soon, and this will eventually bring demand for equipment suppliers.
Generally, offshore activities are more expensive than onshore activities. When crude prices fall, oil equipment makers incur losses and vice versa.
Now, with crude prices moving northward, we expect companies to perform well.
Irrespective of whether Opec (Organisation of Petroleum Exporting Countries) will decrease or increase crude production, the tension between Iran and the US may impact oil prices going forward. And this will help oil equipment stocks. Problems with oil supply from Russia may also influence oil prices. We are bullish on this counter.
Companies in this sector are likely to come up with healthy results on the back of improved orderbooks.
This is an extract form an article at http://www.mydigitalfc.com/news/crude-price-rise-good-news-oil-equipment-suppliers-641
Generally, offshore activities are more expensive than onshore activities. When crude prices fall, oil equipment makers incur losses and vice versa.
Now, with crude prices moving northward, we expect companies to perform well.
Irrespective of whether Opec (Organisation of Petroleum Exporting Countries) will decrease or increase crude production, the tension between Iran and the US may impact oil prices going forward. And this will help oil equipment stocks. Problems with oil supply from Russia may also influence oil prices. We are bullish on this counter.
Companies in this sector are likely to come up with healthy results on the back of improved orderbooks.
This is an extract form an article at http://www.mydigitalfc.com/news/crude-price-rise-good-news-oil-equipment-suppliers-641
Thursday, April 15, 2010
Tuesday, April 13, 2010
Oil Price Forecast 2010 - Crude Oil Forecast 2010 - What will the Crude Oil prices be in December 2010? - Oil & Gas Prices - Oil & Gas Forums - Worldoils
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Sunday, April 11, 2010
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Thursday, April 8, 2010
Tuesday, April 6, 2010
Ship Models, Maritime Models, Rig Models
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Sunday, April 4, 2010
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Friday, April 2, 2010
Obama OKs offshore drilling for Atlantic, Gulf
In a move disappointing environmentalists and potentially much of his Democratic base, President Barack Obama on Wednesday said he would push forward with plans to open major chunks of the Mid-Atlantic region – including North Carolina – to offshore oil and gas drilling.
The lifting of the drilling moratorium, first floated by the Bush administration, is sure to please some Republicans concerned about the president's full-court press to develop domestic green and renewable energy sources at the expense of traditional fossil fuels like coal, oil and gas.
But some of the president's traditional allies questioned if trying to appease Republicans to help move forward other environmental initiatives – such as greenhouse-gas emission limits – was worth the potential price.
This is a part extract from http://www.starnewsonline.com/article/20100331/ARTICLES/100339915/-1/SNOTEST09?Title=Obama-OKs-offshore-drilling-for-Atlantic-Gulf&tc=ar
For Oil & Gas Jobs
The lifting of the drilling moratorium, first floated by the Bush administration, is sure to please some Republicans concerned about the president's full-court press to develop domestic green and renewable energy sources at the expense of traditional fossil fuels like coal, oil and gas.
But some of the president's traditional allies questioned if trying to appease Republicans to help move forward other environmental initiatives – such as greenhouse-gas emission limits – was worth the potential price.
This is a part extract from http://www.starnewsonline.com/article/20100331/ARTICLES/100339915/-1/SNOTEST09?Title=Obama-OKs-offshore-drilling-for-Atlantic-Gulf&tc=ar
For Oil & Gas Jobs
Tuesday, March 30, 2010
Listing in the World Oil & Gas Directory
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Sunday, March 28, 2010
Friday, March 26, 2010
Used drilling rigs for sale, 1500 hp Land Rigs For Sale, Used & new American Drilling Rigs for sale, 3000 hp land rigs for sale, Land Rigs for sale, Oil & Gas drilling Rigs,
Monday, March 22, 2010
Oil Price Forecast 2010 - Crude Oil Forecast 2010 - What will the Crude Oil prices be in 2010? - Oil & Gas Prices - Oil & Gas Forums - Worldoils
Oil Price Forecast 2010 - Crude Oil Forecast 2010 - What will the Crude Oil prices be in 2010? - Oil & Gas Prices - Oil & Gas Forums - Worldoils: "Oil Price Forecast 2010 - Crude Oil Forecast 2010 - What will the Crude Oil prices be in 2010?"
Sunday, March 21, 2010
Thursday, March 18, 2010
OPEC Expands Oil Rig Drilling the Most Since 2007
This is an extract form http://www.businessweek.com/news/2010-03-15/opec-expands-oil-rigs-most-since-2007-as-quotas-prove-illusory.html
By Grant Smith and Alexander Kwiatkowski
March 15 (Bloomberg) -- OPEC is increasing oil drilling at the fastest rate in 2 1/2 years, even as production exceeds its quotas by the equivalent of a supertanker of crude a day and delegates prepare to pledge no increase in output.
The 12-nation group boosted its number of oil and gas rigs by 8.4 percent in January and February, the biggest two-month gain since June 2007, data from Baker Hughes Inc. show. OPEC members excluding Iraq pumped 26.8 million barrels a day last month, 1.9 million more than targeted, data compiled by Bloomberg show. Shipments will rise again this month, according to tanker-tracker Oil Movements.
While oil prices recovered from a four-year low at the end of 2008 as OPEC announced a record supply cut, excess production means the doubling in oil prices since then may have run its course, according to the Centre for Global Energy Studies and Commerzbank AG. The premium charged for crude deliveries in 2015 has plunged 43 percent in three months, indicating investors are less concerned of future shortages.
“OPEC will have to show its mettle,” said Leo Drollas, deputy director of the CGES in London, which was founded by former Saudi oil minister Sheikh Zaki Yamani. The consultant predicts Brent crude will fall 25 percent to $60 in the fourth quarter of this year. “If they can’t hold discipline, we’re looking at prices going to $50 by 2015.”
Vienna Meeting
Oil surged last year as the Organization of Petroleum Exporting Countries curtailed as much as 3.7 million barrels a day of output and the global economy emerged from its worst slump since World War II. Forty-two of 44 analysts surveyed by Bloomberg predict the group will maintain its official quota of 24.845 million barrels a day when ministers meet in Vienna on March 17.
In a March 10 report, OPEC estimated that its current production is 1.5 million barrels a day more than the demand for its crude in the second quarter. The forecast is based on analysis of non-member production and global consumption.
While crude fell 1.2 percent on March 12, it is up 2.7 percent so far this month on the New York Mercantile Exchange.
OPEC plans to add 12 million barrels to its daily production capacity by 2015, equal to what Saudi Arabia can pump today. The gains would exceed the expected growth in demand, according to the International Energy Agency.
Exploration Rigs
OPEC has taken on an extra 22 rigs this year, raising its total to 283, as increases in Africa compensate for a reduction in Saudi Arabia and Venezuela, the Baker Hughes data show. Producers outside of the organization have added the same number to total 785 rigs, a gain of 2.9 percent.
The Baker Hughes rig count is a barometer of current drilling and an indicator of future oil and gas supplies. The Houston-based company, the world’s third-biggest oilfield- services supplier, says its figures represent the number of rigs exploring and developing new fields, not ones for maintenance or “workover” activities.
“Despite OPEC’s production capacity goals being very aggressive, I think a large part of it will be sustainable,” said Eugen Weinberg, an analyst at Commerzbank AG in Frankfurt. “The chances for spare capacity increasing are larger than it narrowing. This potentially puts a ceiling on oil prices. Even if demand increases strongly, price increases should be dampened.”
Saudi Heavy Oil
Members are reviving some of the 35 projects delayed by the recession, OPEC Secretary-General Abdalla El-Badri said in December. Saudi Aramco’s Manifa heavy oilfield is “back on track” for completion in 2015, after being halted, according to the Paris-based IEA.
Nigeria increased its oil rigs the most among OPEC states in February, boosting the count to 12 from seven. The country may lobby OPEC for a higher output ceiling to compensate for production lost over four years to rebel attacks, Austen Oniwon, a group executive director at state-run Nigeria National Petroleum Corp., said in a March 9 interview in Cape Town.
The biggest prospect for additional OPEC oil lies with Iraq. The war-torn country signed deals last year with BP Plc, Royal Dutch Shell Plc and Exxon Mobil Corp. to help boost production to eventually rival that of Saudi Arabia, OPEC’s largest exporter.
Goldman Sachs, Bank of America Merrill Lynch and Societe Generale SA expect the rebounding oil demand recovery in emerging economies will require new crude supply. Goldman Sachs sees crude reaching $96.50 a barrel within 12 months, while Societe Generale forecasts an average of $104 in 2012 and Merrill says prices may rise as high as $150 in 2014.
Wall Street Forecasts
“If the OPEC rig count is increasing, and OPEC has plans to grow capacity down the road, that doesn’t strike me as bearish,” said Mike Wittner, head of oil market research at Societe Generale in London. “In fact it’s part of the bullish story, because non-OPEC supply has already hit a plateau so only OPEC can meet long-term global demand growth.”
Oil’s advance has lagged behind the most optimistic Wall Street analyst forecasts. Goldman Sachs predicted that crude would reach $85 a barrel before the end of 2009. The price of options contracts allowing investors to buy $100 crude for December delivery has fallen 60 percent since October.
The latest jump in OPEC’s rig count is the biggest since mid-2007, when it rose more than 10 percent through May and June as oil prices rallied toward $75 a barrel on accelerating demand from China and India. The rig count advanced with crude until October 2008, when a 10-month slump started as the banking crisis rattled the global economy.
Forward Curve Flattens
Increased drilling will have greater pull on prices in the years ahead than in the rest of 2010, IEA Executive Director Nobuo Tanaka said in a March 10 interview in Houston.
The forward curve graph of future prices is flattening as traders anticipate greater availability of oil. The premium for crude to be delivered in 2015 compared with this year was $6.77 a barrel today, down from $11.96 three months earlier.
“The world is still over-supplied,” Edward Morse, head of commodities research at Credit Suisse Group AG, said in a March 9 interview in Houston. “On the supply side, Iraq overwhelms everything else.”
Iraq’s oil exports last month reached the highest level in more than a year, jumping 7.4 percent to 2.07 million barrels per day, according to the country’s Oil Ministry.
Estimates collated by OPEC show the group’s adherence to its 4.2 million barrel-a-day supply cut, the biggest in its 50- year history, has withered to 53 percent as the recovery in oil prices above $80 a barrel spurs members to exceed their allocations.
Shipments Rising
Production from the 11 OPEC members bound by quotas rose to 26.811 million barrels a day in February, the organization said in a March 10 report. Shipments will increase 0.9 percent by the end of the month, according to Oil Movements based in Halifax, England.
Saudi Arabia sits on 4 million barrels a day of idle capacity that can be started when demand climbs. Iran, Angola and Nigeria are all pumping more than promised. Among OPEC’s 12 members, only Iraq is exempt from limits.
“Iraq doesn’t have a formal quota and Nigeria is acting like it doesn’t,” said David Kirsch, director of oil markets at PFC Energy, a consulting company in Washington. “The potential of Iraq to substantially increase its production over the next few years has really changed the supply dynamic.”
While the economy is recovering, OPEC Secretary-General el- Badri said Feb. 2 that ministers are unlikely to lift their quota. Iran’s oil minister, Masoud Mir-Kazemi, said today that OPEC should keep output unchanged because there is no sign of an increase in demand, AFP reported.
Libya is proceeding with plans to bolster production capacity, Shokri Ghanem, the chairman of Libya’s National Oil Corp., said in a March 9 statement on the company’s Web site. Even so, at the March 17 OPEC conference, “no new decision is expected.”
--With assistance from Margot Habiby in Houston, Robert Tuttle in Doha and Andres R. Martinez in Mexico City. Editors: Stephen Voss, Mike Anderson
To contact the reporter on this story: Grant Smith in London at gsmith52@bloomberg.net Alexander Kwiatkowski in London at akwiatkowsk2@bloomberg.net
To contact the editor responsible for this story: Stephen Voss on sev@bloomberg.net
By Grant Smith and Alexander Kwiatkowski
March 15 (Bloomberg) -- OPEC is increasing oil drilling at the fastest rate in 2 1/2 years, even as production exceeds its quotas by the equivalent of a supertanker of crude a day and delegates prepare to pledge no increase in output.
The 12-nation group boosted its number of oil and gas rigs by 8.4 percent in January and February, the biggest two-month gain since June 2007, data from Baker Hughes Inc. show. OPEC members excluding Iraq pumped 26.8 million barrels a day last month, 1.9 million more than targeted, data compiled by Bloomberg show. Shipments will rise again this month, according to tanker-tracker Oil Movements.
While oil prices recovered from a four-year low at the end of 2008 as OPEC announced a record supply cut, excess production means the doubling in oil prices since then may have run its course, according to the Centre for Global Energy Studies and Commerzbank AG. The premium charged for crude deliveries in 2015 has plunged 43 percent in three months, indicating investors are less concerned of future shortages.
“OPEC will have to show its mettle,” said Leo Drollas, deputy director of the CGES in London, which was founded by former Saudi oil minister Sheikh Zaki Yamani. The consultant predicts Brent crude will fall 25 percent to $60 in the fourth quarter of this year. “If they can’t hold discipline, we’re looking at prices going to $50 by 2015.”
Vienna Meeting
Oil surged last year as the Organization of Petroleum Exporting Countries curtailed as much as 3.7 million barrels a day of output and the global economy emerged from its worst slump since World War II. Forty-two of 44 analysts surveyed by Bloomberg predict the group will maintain its official quota of 24.845 million barrels a day when ministers meet in Vienna on March 17.
In a March 10 report, OPEC estimated that its current production is 1.5 million barrels a day more than the demand for its crude in the second quarter. The forecast is based on analysis of non-member production and global consumption.
While crude fell 1.2 percent on March 12, it is up 2.7 percent so far this month on the New York Mercantile Exchange.
OPEC plans to add 12 million barrels to its daily production capacity by 2015, equal to what Saudi Arabia can pump today. The gains would exceed the expected growth in demand, according to the International Energy Agency.
Exploration Rigs
OPEC has taken on an extra 22 rigs this year, raising its total to 283, as increases in Africa compensate for a reduction in Saudi Arabia and Venezuela, the Baker Hughes data show. Producers outside of the organization have added the same number to total 785 rigs, a gain of 2.9 percent.
The Baker Hughes rig count is a barometer of current drilling and an indicator of future oil and gas supplies. The Houston-based company, the world’s third-biggest oilfield- services supplier, says its figures represent the number of rigs exploring and developing new fields, not ones for maintenance or “workover” activities.
“Despite OPEC’s production capacity goals being very aggressive, I think a large part of it will be sustainable,” said Eugen Weinberg, an analyst at Commerzbank AG in Frankfurt. “The chances for spare capacity increasing are larger than it narrowing. This potentially puts a ceiling on oil prices. Even if demand increases strongly, price increases should be dampened.”
Saudi Heavy Oil
Members are reviving some of the 35 projects delayed by the recession, OPEC Secretary-General Abdalla El-Badri said in December. Saudi Aramco’s Manifa heavy oilfield is “back on track” for completion in 2015, after being halted, according to the Paris-based IEA.
Nigeria increased its oil rigs the most among OPEC states in February, boosting the count to 12 from seven. The country may lobby OPEC for a higher output ceiling to compensate for production lost over four years to rebel attacks, Austen Oniwon, a group executive director at state-run Nigeria National Petroleum Corp., said in a March 9 interview in Cape Town.
The biggest prospect for additional OPEC oil lies with Iraq. The war-torn country signed deals last year with BP Plc, Royal Dutch Shell Plc and Exxon Mobil Corp. to help boost production to eventually rival that of Saudi Arabia, OPEC’s largest exporter.
Goldman Sachs, Bank of America Merrill Lynch and Societe Generale SA expect the rebounding oil demand recovery in emerging economies will require new crude supply. Goldman Sachs sees crude reaching $96.50 a barrel within 12 months, while Societe Generale forecasts an average of $104 in 2012 and Merrill says prices may rise as high as $150 in 2014.
Wall Street Forecasts
“If the OPEC rig count is increasing, and OPEC has plans to grow capacity down the road, that doesn’t strike me as bearish,” said Mike Wittner, head of oil market research at Societe Generale in London. “In fact it’s part of the bullish story, because non-OPEC supply has already hit a plateau so only OPEC can meet long-term global demand growth.”
Oil’s advance has lagged behind the most optimistic Wall Street analyst forecasts. Goldman Sachs predicted that crude would reach $85 a barrel before the end of 2009. The price of options contracts allowing investors to buy $100 crude for December delivery has fallen 60 percent since October.
The latest jump in OPEC’s rig count is the biggest since mid-2007, when it rose more than 10 percent through May and June as oil prices rallied toward $75 a barrel on accelerating demand from China and India. The rig count advanced with crude until October 2008, when a 10-month slump started as the banking crisis rattled the global economy.
Forward Curve Flattens
Increased drilling will have greater pull on prices in the years ahead than in the rest of 2010, IEA Executive Director Nobuo Tanaka said in a March 10 interview in Houston.
The forward curve graph of future prices is flattening as traders anticipate greater availability of oil. The premium for crude to be delivered in 2015 compared with this year was $6.77 a barrel today, down from $11.96 three months earlier.
“The world is still over-supplied,” Edward Morse, head of commodities research at Credit Suisse Group AG, said in a March 9 interview in Houston. “On the supply side, Iraq overwhelms everything else.”
Iraq’s oil exports last month reached the highest level in more than a year, jumping 7.4 percent to 2.07 million barrels per day, according to the country’s Oil Ministry.
Estimates collated by OPEC show the group’s adherence to its 4.2 million barrel-a-day supply cut, the biggest in its 50- year history, has withered to 53 percent as the recovery in oil prices above $80 a barrel spurs members to exceed their allocations.
Shipments Rising
Production from the 11 OPEC members bound by quotas rose to 26.811 million barrels a day in February, the organization said in a March 10 report. Shipments will increase 0.9 percent by the end of the month, according to Oil Movements based in Halifax, England.
Saudi Arabia sits on 4 million barrels a day of idle capacity that can be started when demand climbs. Iran, Angola and Nigeria are all pumping more than promised. Among OPEC’s 12 members, only Iraq is exempt from limits.
“Iraq doesn’t have a formal quota and Nigeria is acting like it doesn’t,” said David Kirsch, director of oil markets at PFC Energy, a consulting company in Washington. “The potential of Iraq to substantially increase its production over the next few years has really changed the supply dynamic.”
While the economy is recovering, OPEC Secretary-General el- Badri said Feb. 2 that ministers are unlikely to lift their quota. Iran’s oil minister, Masoud Mir-Kazemi, said today that OPEC should keep output unchanged because there is no sign of an increase in demand, AFP reported.
Libya is proceeding with plans to bolster production capacity, Shokri Ghanem, the chairman of Libya’s National Oil Corp., said in a March 9 statement on the company’s Web site. Even so, at the March 17 OPEC conference, “no new decision is expected.”
--With assistance from Margot Habiby in Houston, Robert Tuttle in Doha and Andres R. Martinez in Mexico City. Editors: Stephen Voss, Mike Anderson
To contact the reporter on this story: Grant Smith in London at gsmith52@bloomberg.net Alexander Kwiatkowski in London at akwiatkowsk2@bloomberg.net
To contact the editor responsible for this story: Stephen Voss on sev@bloomberg.net
Wednesday, March 17, 2010
Tuesday, March 16, 2010
Sunday, March 7, 2010
Wednesday, March 3, 2010
Tuesday, March 2, 2010
Friday, February 19, 2010
Tuesday, February 16, 2010
Monday, February 15, 2010
Ship Models, Maritime Models, Rig Models
Ship Models, Maritime Models, Rig Models: "Ship Models & Maritime Models"
Wednesday, February 3, 2010
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Monday, January 18, 2010
Sunday, January 17, 2010
Thursday, January 14, 2010
Flush By Unit - Workover Rig - 20T - New Unit - Worldoils Oil, gas and offshore equipment marketplace
Flush By Unit - Workover Rig - 20T - New Unit - Worldoils Oil, gas and offshore equipment marketplace: "Workover Rig FBU20 - Flush By Unit
20t Flush By Unit"
20t Flush By Unit"
Wednesday, January 13, 2010
Oil price drop on weather, China concerns
This is an extract from http://www.channelnewsasia.com/stories/afp_world_business/view/1030280/1/.html
NEW YORK: Oil prices slumped Tuesday on prospects of easing heating fuel demand in the United States due to milder weather and new moves by China to cool off its economy.
New York's main futures contract, light sweet crude for delivery in February dropped US$1.73 to US$80.79.
The New York contract had hit a 15-month peak of US$83.95 a barrel on Monday before traders decided to bank profits.
London's Brent North Sea crude for February was down US$1.67 to US$79.30.
The market reacted to expectations of easing heating fuel demand as forecasters predicted milder weather for the weeks ahead in the United States, the world's biggest energy consumer hit by a cold snap recently.
"Traders anticipated that the nasty cold had played a big part in pumping up the price of oil," said Phil Flynn, senior market analyst with FG Best.
"This weekend was the weekend that was supposed to be the beginning of the new ice age, so some traders might have been shocked that temperatures could actually go up," he said.
ODL Markets analyst Marius Paun said oil prices rallied on expectations of stronger heating oil demand "but the latest reports say that this may have been overdone."
"Temperatures in the United States, Asia and Europe are expected to rise, lessening the demand from consumers."
Another factor that dampened markets was overheating concerns in the Chinese economy.
Authorities in China sought Tuesday to rein in a surge of aggressive lending by banks that has raised fears of inflation and a looming asset bubble.
After issuing a series of recent calls for banks to moderate their lending activity, the central bank hiked the minimum amount of money that banks must keep in reserve for the first time in more than a year.
"Rising temperatures and Chinese monetary policy have combined to temper heating demand and the pace of lending by Chinese banks," said Mike Fitzpatrick, Vice President of MF Global.
"Market participants are preparing for another decline in distillate stockpiles, still above multi-year averages, the current deep freeze notwithstanding," he said.
While signs of economic recovery remain sketchy, he said it would be difficult to maintain oil prices near current levels.
"Prices at US$80 and above, will only be sustainable when unemployment starts shrinking, and GDP starts growing," Fitzpatrick said.
Kuwait's Oil Minister Sheikh Ahmad Abdullah al-Sabah on Tuesday said that at around US$82, the price of crude oil was "fantastic."
Oil prices are "fantastic ... because of what is happening with the (cold) weather in Europe and as demand is picking up," he said.
The minister said Kuwait does not want any change to production quotas when the Organization of Petroleum Exporting Countries meets in March.
He also expected demand to pick up in the second quarter of 2010 as the global economy is likely to continue its recovery and as crude inventories decline.
Elsewhere on Tuesday, the market was following developments in OPEC member Nigeria, where gunmen kidnapped three Britons and a Colombian working for Anglo-Dutch oil giant Shell, while shooting dead their police escort.
It is the first major kidnapping in southern Nigeria for months, following a lull in the wake of a government amnesty which saw thousands of militants lay down their arms.
- AFP/yb
NEW YORK: Oil prices slumped Tuesday on prospects of easing heating fuel demand in the United States due to milder weather and new moves by China to cool off its economy.
New York's main futures contract, light sweet crude for delivery in February dropped US$1.73 to US$80.79.
The New York contract had hit a 15-month peak of US$83.95 a barrel on Monday before traders decided to bank profits.
London's Brent North Sea crude for February was down US$1.67 to US$79.30.
The market reacted to expectations of easing heating fuel demand as forecasters predicted milder weather for the weeks ahead in the United States, the world's biggest energy consumer hit by a cold snap recently.
"Traders anticipated that the nasty cold had played a big part in pumping up the price of oil," said Phil Flynn, senior market analyst with FG Best.
"This weekend was the weekend that was supposed to be the beginning of the new ice age, so some traders might have been shocked that temperatures could actually go up," he said.
ODL Markets analyst Marius Paun said oil prices rallied on expectations of stronger heating oil demand "but the latest reports say that this may have been overdone."
"Temperatures in the United States, Asia and Europe are expected to rise, lessening the demand from consumers."
Another factor that dampened markets was overheating concerns in the Chinese economy.
Authorities in China sought Tuesday to rein in a surge of aggressive lending by banks that has raised fears of inflation and a looming asset bubble.
After issuing a series of recent calls for banks to moderate their lending activity, the central bank hiked the minimum amount of money that banks must keep in reserve for the first time in more than a year.
"Rising temperatures and Chinese monetary policy have combined to temper heating demand and the pace of lending by Chinese banks," said Mike Fitzpatrick, Vice President of MF Global.
"Market participants are preparing for another decline in distillate stockpiles, still above multi-year averages, the current deep freeze notwithstanding," he said.
While signs of economic recovery remain sketchy, he said it would be difficult to maintain oil prices near current levels.
"Prices at US$80 and above, will only be sustainable when unemployment starts shrinking, and GDP starts growing," Fitzpatrick said.
Kuwait's Oil Minister Sheikh Ahmad Abdullah al-Sabah on Tuesday said that at around US$82, the price of crude oil was "fantastic."
Oil prices are "fantastic ... because of what is happening with the (cold) weather in Europe and as demand is picking up," he said.
The minister said Kuwait does not want any change to production quotas when the Organization of Petroleum Exporting Countries meets in March.
He also expected demand to pick up in the second quarter of 2010 as the global economy is likely to continue its recovery and as crude inventories decline.
Elsewhere on Tuesday, the market was following developments in OPEC member Nigeria, where gunmen kidnapped three Britons and a Colombian working for Anglo-Dutch oil giant Shell, while shooting dead their police escort.
It is the first major kidnapping in southern Nigeria for months, following a lull in the wake of a government amnesty which saw thousands of militants lay down their arms.
- AFP/yb
Tuesday, January 12, 2010
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Crew management software, Shipmanagement Software, OSV purchasing software , Offshore software solutions , Offshore payroll software , International ,
Monday, January 11, 2010
Oil Price Forecast 2010 - Crude Oil Forecast 2010 - What will the Crude Oil prices be in 2010? - Oil & Gas Prices - Oil & Gas Forums - Worldoils
Oil Price Forecast 2010 - Crude Oil Forecast 2010 - What will the Crude Oil prices be in 2010? - Oil & Gas Prices - Oil & Gas Forums - Worldoils: "Oil Price Forecast 2010 - Crude Oil Forecast 2010 - What will the Crude Oil prices be in 2010?"
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Friday, January 1, 2010
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