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Oil tankers chartered for floating storage off Gulf Coast

June 28, 2011 by gCaptain

Oil tankers chartered for floating storage off Gulf Coast

LONDON (Dow Jones)--Two oil tankers have been booked for use as floating storage vessels off the U.S. Gulf Coast this month, shipping brokers told Dow Jones Newswires Monday. The use of floating storage became popular at the end of 2008 when the crude oil market flipped into contango, when the front-month futures contract is cheaper than the subsequent months. Such a trading … [Read more...]

U.S. and International Energy Agency Tapping Oil Reserves

June 23, 2011 by gCaptain

U.S. and International Energy Agency Tapping Oil Reserves

WASHINGTON -(Dow Jones)- The U.S. government on Thursday said it would release 30 million barrels of oil from its strategic petroleum reserves as part of an effort to offset disruptions caused by unrest throughout the Middle East. Over the next 30 days, the U.S. government and its partners in the International Energy Agency will release 60 million barrels of oil onto the … [Read more...]

Global Drilling Boom: Oil and Gas Spending To Reach Record Level In 2011

June 14, 2011 by gCaptain

Global Drilling Boom: Oil and Gas Spending To Reach Record Level In 2011

HOUSTON (Dow Jones)--Oil and natural-gas companies are spending more than half a trillion dollars in the oil patch during 2011--a record level that signals the return of the global drilling boom that sputtered during the recession, Barclays Capital said Monday. The spending frenzy is driven in part by high oil prices, which recovered quickly from the financial crisis and in … [Read more...]

Who Has The Oil? A Map of World Oil Reserves.

July 15, 2010 by John Konrad

"The United States consumes more than 20,000,000 barrels of oil per day but has less than 2 percent of the world's remaining oil" This map, produced by BP's Statistical Review division, shows countries based on known crude oil reserves. The larger the country, the more reserve capacity. The map also gives mariners working offshore an idea where jobs opportunities may arise … [Read more...]

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Pingle: Your Credential Mate – Organize your licenses and certificates, set reminders and eliminate expiration anxiety.

Pingle: Your Credential Mate – Organize your licenses and certificates, set reminders and eliminate expiration anxiety.

  Featured

Pirates Kidnap Twelve Crew from Dutch Cargo Ship Off Nigeria

Pirates Kidnap Twelve Crew from Dutch Cargo Ship Off Nigeria

Fire-Ravaged Maersk Honam Nearing Anchorage Outside Jebel Ali Port

Fire-Ravaged Maersk Honam Nearing Anchorage Outside Jebel Ali Port

Coast Guard: Dutch-Flagged Tanker Spills  HFO in Lower Mississippi River

Coast Guard: Dutch-Flagged Tanker Spills HFO in Lower Mississippi River

Panama Canal Tugboat Captains Locked in Heated Dispute with Management Over Safe Manning of Tugs

Panama Canal Tugboat Captains Locked in Heated Dispute with Management Over Safe Manning of Tugs

Butane Leaks After Very Large Gas Carrier and Tanker Collide Singapore -AIS Replay

Butane Leaks After Very Large Gas Carrier and Tanker Collide Singapore -AIS Replay

  Video

Incident Video: Tanker’s Hull Punctured by Floating Crane in Iraq

Incident Video: Tanker’s Hull Punctured by Floating Crane in Iraq

Incident Video: Car Carrier Crunches Tugboat in Durban Harbour

Incident Video: Car Carrier Crunches Tugboat in Durban Harbour

Caught on Video: MSC Cruise Ship Crashes Into Dock in the Caribbean

Caught on Video: MSC Cruise Ship Crashes Into Dock in the Caribbean

  Latest News

Giant Ship-to-Shore Cranes Parked Off New York

Missing FWN Rapide Crew Member Found Safe on Ship in Nigeria

OOCL and Microsoft to Develop Artificial Intelligence Applications for the Shipping Industry

  Corporate News

Metal Shark Delivers New 45’ Pilot Boat and 32’ Port Security Boat to the Virgin Islands Port Authority

Foss Executive Honored by Coast Guard

Damen Dredging Equipment launches new DOP Dredger Series

Samskip brings Rotterdam into Nor Lines’ flexible LNG-powered service network

Avatars by Sterling Adventures