Kreuz Holdings Limited, an integrated subsea service provider for the oil and gas industry, today reported that the Group’s revenue increased 33.6% to US$45.5 million for the three months ended September 30, 2012 as compared to US$34.1 million in the previous corresponding period. Net profit was US$
Grandweld delivered the first of two 21.3 Aluminum Fast Service Boats to Kuwait Oil Tanker Company. A special delivery and acceptance ceremony was held at KOTC head office on October 31, 2012. The contract was signed in November 2011 to design and deliver two 21.3 Aluminum service boats. The vessel
Tighter regulations for the prevention of pollution by garbage from ships are due to come into force on January 1, 2013. Almost all discharges of dry waste into the sea will be prohibited and the rules relating to discharge of food and galley waste will be more stringent. However, help is at hand! U
Mechanical engineering company, EnerMech, has completed a £500,000 hydraulics workscope on Transocean North Sea’s jack-up rig, GSF Galaxy 1. The rig was docked at Global Energy’s Nigg facility in the Cromarty Firth, where EnerMech engineers performed an overhaul of the leg chock system and rig skidd
Leading corporations from oil and gas, shipping, fisheries, marine science, ocean technology and other sectors have committed sponsorship support for the second Sustainable Ocean Summit (SOS) organized by the World Ocean Council (WOC). Initial SOS 2013 sponsors include BP, Total, Battelle Memorial I
The U.S. Army Corps of Engineers Galveston District has published a Draft Environmental Impact Statement for a Department for the Army permit from the Coastal Water Authority’s Luce Bayou Interbasin Transfer project, for which an Environmental Impact Statement will be prepared. The Corps will hold a
Providence Resources P.l.c., the Irish oil and gas exploration and production company, provides a technical and resource update on Licensing Option 11/9 (“Drombeg”). Providence (80%, Operator) and Sosina Exploration (20%) were awarded Licensing Option 11/9 (“Drombeg”) as part of the 2011 Irish Atlan
Last week, the Petroleum Safety Authority Norway (PSA) invited the most important players within design, construction and modification of process facilities to a joint meeting. The topic for discussion was the contractors’ responsibility and role in relation to risk of hydrocarbon leaks on the Norwe
The American Waterways Operators (AWO) and Waterways Council Inc. (WCI), are calling upon Congress and the Administration to address a developing situation on the Mississippi River which could effectively bring commerce on the Mighty Mississippi to a halt in early December. Water releases from dams
Höegh LNG has entered into an agreement to sell its wholly owned subsidiary Port Meridian Energy Limited for a consideration of USD 20 million to Meridian Holdings Co., an entity advised by West Face Capital Inc. and owned by a fund managed by West Face. Port Meridian Energy Limited has developed pl
The first direct evidence that marked changes to Antarctic sea ice drift have occurred over the last 20 years, in response to changing winds, is published this week in the journal Nature Geoscience. Scientists from NERC’s British Antarctic Survey (BAS) and NASA’s Jet Propulsion Laboratory (JPL), Pas
Prospector Offshore Drilling S.A. has entered into a non-binding terms and conditions agreement with the China Development Bank Corporation for a senior secured credit facility to finance the final installment of the shipyard construction contract with Dalian Shipbuilding Industry Offshore Co., Ltd.
On November 5, the award ceremony for 2012 Top 100 Hong Kong Listed Companies took place in Hong Kong. CCCC ranked 32nd. Liu Wensheng, Chief Economist and the Board Secretary, attended the ceremony and received the award on behalf of CCCC. The event was organized by Finet and Tencent, and co-organiz
Ithaca Energy provides an update on the progress made with its Greater Stella Area (“GSA”) development activities and schedule. Highlights – The modifications contract for the “FPF-1” floating production unit has been awarded to the Remontowa shipyard in Gdansk, Poland. The FPF-1 is now located In G
