By Adam Williams and Angelina Rascouet (Bloomberg) -- Mexico’s decision to allow private companies to explore for oil and gas started to pay off after the discovery of at least a billion barrels in a new offshore field. A consortium of Premier Oil Plc, Sierra Oil & Gas S de RL de CV and Talos Energy LLC made the discovery in the shallow waters of the southern Gulf of … [Read more...]
U.S. Oil Lures India as Arbitrage Opens Up
By Debjit Chakraborty and Serene Cheong (Bloomberg) -- A type of U.S. crude pumped in the Gulf of Mexico is proving to be more attractive in the fastest-growing oil market compared with Middle East staples that are on offer. Indian Oil Corp., the nation’s largest refiner, has bought Mars Blend crude for arrival in October to the South Asian nation, according to Arun Kumar … [Read more...]
Report Says U.S. Needs to Build Four New Heavy Polar Icebreakers
New Report Recommends Construction of Four New Polar Icebreakers of the Same Design as the Lowest-Cost Strategy for Protecting U.S. Interests in Arctic and Antarctic The U.S. lacks icebreaking capability in the Arctic and Antarctic and should build four polar icebreakers with heavy icebreaking capability to help minimize the life-cycle costs of icebreaker acquisition and … [Read more...]
Bourbon Joins Project to Build World’s First Autonomous Offshore Vessel
French offshore services company Bourbon Offshore announced Tuesday it has signed on to a project which is aimed at building of the world’s first fully-autonomous, unmanned offshore vessel. Bourbon entered into a Memorandum of Understanding (MOU) with Automated Ships Ltd to support the building of the first-of-its-kind vessel in collaboration with the project’s primary … [Read more...]
Number of Containers Lost at Sea Falling, Survey Shows
An average of 1,390 containers have been lost at sea each year over the past three years, according to a new survey of the world's ocean carriers by the World Shipping Council. The number of containers lost represents a 48% reduction in the average annual losses compared to the previous three-year period. The number includes containers that were lost during catastrophic … [Read more...]
Shell Mulls LNG-Hub Network as Use as Transport Fuel Expands
By Rakteem Katakey (Bloomberg) -- Royal Dutch Shell Plc, the oil company that spent more than $50 billion to buy natural-gas producer BG Group Plc, is looking to expand demand for the fuel in transport to ensure its output is consumed. Shell is studying developing a global network of liquefied natural gas supply hubs for vehicles including ships, Steve Hill, executive vice … [Read more...]
U.S. Navy Temporarily Relieves USS Fitzgerald Commander
By Tim Kelly TOKYO, July 11 (Reuters) - The U.S. Navy on Tuesday said on Tuesday it has temporarily relieved, for medical reasons, the commander of a warship involved in a crash with a container vessel in Japanese waters that killed seven American sailors. The collision between the guided missile destroyer USS Fitzgerald and the Philippine-registered ACX Crystal on June 17 … [Read more...]
