The executive committee of Euronav NV announced that the company sold the VLCC Algarve (1999 – 298,969 dwt) for a selling price of USD 35,875,000 million and that the vessel was delivered to its new owner yesterday. A capital gain of USD 7.3 million will be recorded whilst the net cash proceeds avai
As a follow up to last week’s London meetings, a group of BP senior executives representing BP’s upstream production, development, and strategy and integration divisions held a 3-day working visit to Baku to continue the discussions about production from the ACG fields, as well as to review BP’s fut
The Surfrider Foundation of Australia is holding a National Conference on 3-4 November 2012 at Coolum Beach on the Sunshine Coast of Queensland, Australia. Andrew Pitt, a Reef Architect at Surfing Ramps, will be presenting to the conference, ‘Beach Nourishment; it’s only sand but…threats and opportu
Statoil ASA, together with partner Sinochem, has completed drilling the appraisal well 3-STAT-8-RJS on the Peregrino South discovery in the Campos basin offshore Brazil. The results confirm the significant potential in the Peregrino South in the exploration well that was completed in April 2011. The
Aberdeen based Wood Group Engineering (North Sea) Ltd has awarded a contract to Seaway Heavy Lifting Contracting Ltd for the transportation and installation of two weather monitoring stations for the East Anglia Offshore Wind zone, located in the Southern North Sea, East Anglia Field, UK. The offsho
FMC Technologies, Inc. today reported third quarter 2012 revenue of $1.4 billion, up 10 percent from the prior-year quarter. Diluted earnings per share were $0.41 compared to $0.50 in the prior-year quarter as improved Subsea Technologies’ results were more than offset by higher non-operating expens
Last week, during the EEA grant conference arranged by Innovation Norway and CDTI in Bergen, the Norwegian company Langlee Wave Power and Repnaval Shipyard (Zamakona Yards) signed an agreement for the development of wave power in the Canary islands. The two companies will file a common application t
The world’s largest classification society ClassNK, announced that the world’s first specialized vessel for the carriage of Nickel Ore has been built and registered to the NK class. The vessel, the Jules Garnier II, was built by Naikai Zosen Corporation and delivered to Japanese shipping major JX Sh
Stork Technical Services, the leading global provider of knowledge-based asset integrity management services for the oil and gas, chemical and power sectors, welcomed Business Secretary, Vince Cable, to its heat treatment facility in Southport, UK during a recent visit (18 October) to discuss the co
On Wednesday, the Port of Tallinn signed 50 million euro agreement with Finnish shipping company Arctia for the purchase of icebreaking vessel MSV Botnica. “We are planning to finance the purchase with a short-term loan from a commercial bank,” says Marko Raid, the CFO of Port of Tallinn. In longer
TenneT TSO GmbH got a lawsuit because of the grid connection delays on Trianel’s 200 MW North Sea offshore wind farm. Namely, Trianel is seeking compensation for the Borkum offshore wind farm related costs, which will increase from EUR 50 million to at least EUR 900 million, Bloomberg informs. The d
OGX Petróleo e Gás Participações S.A., the Brazilian oil and gas company responsible for the largest private-sector exploratory campaign in Brazil, announced today that it has obtained from the National Petroleum, Natural Gas and Biofuels Agency – ANP, the qualification of operator A, therefore bein
With the global naval sector looking to deploy more energy efficient vessels, GE’s Power Conversion business is supplying its electrical propulsion drive train technology for the U.K. Royal Fleet Auxiliary’s (RFA) new fleet of Military Afloat Reach and Sustainability (MARS) tankers. When completed,
Last week, during the EEA Grant Conference arranged by Innovation Norway and CDTI in Bergen, the Norwegian company Langlee Wave Power and Repnaval Shipyard (Zamakona Yards) signed an agreement for the development of wave power in the Canary islands. The two companies will file a common application t
