Flight MH370: Latest Fugro AUV Joins the Hunt
Fugro took delivery of the Hugin 1000 Autonomous Underwater Vehicle (AUV), the Echo Surveyor VII, in December 2014. Depth rated to 4,500 metres, the new AUV now holds the record for the deepest Hugin AUV dive, surveying in water depths surpassing 4,200 m. As the latest addition to Fugro’s AUV fleet, the Echo Surveyor VII is specifically designed for high resolution and efficient survey operations in water depths reaching 4,500 metres. The extended depth rating of the Kongsberg Hugin 1000 AUV places it in the most advanced ranking of deep sea survey instrument platforms…
Curve Jumps on Ukraine Gas Transit Concerns
European power forwards rose on Friday, tracking a rise in gas prices after Ukraine's prime minister said proposed Ukrainian sanctions against Russia could have an impact on gas transits to Europe. German baseload power for the year ahead, calendar year 2015 , hit the 36 euro ($48.2) per MWh level for the first time since July 29 in early afternoon trade, and was last trading at 35.90 euros/MWh, up 20 cents. The less liquid French Cal 15 contract was up 10 cents at 43.05 euros per MWh. The German benchmark is 3.6 percent higher than before July 17, when the downing of a Malaysia Airlines flight increased tension with Russia.
Exxon Oil Rig Enters Uncharted Waters of Russian Political Storm
An ordinary, long-scheduled journey of an oil drilling rig into Arctic waters is turning into a major political exercise, attracting international scrutiny and creating a dilemma for Exxon Mobil Corp. Exxon, the top U.S. oil major and the world's most valued oil company, is bringing the rig, called West Alpha, from Norway to the Russian Arctic. It is hoping for a major discovery in the Kara Sea with Russian partner Rosneft Oil Co. The journey has begun just as the United States has slapped the toughest sanctions yet on Russia, including on Rosneft, over escalating violence in Ukraine.
Oil Steadies at $107 After Iran Talks Extended
Iran nuclear talks extended, pressure for deal intensifies; U.S. Brent crude oil steadied around $107 a barrel on Monday after big powers extended talks with Iran and eased sanctions on the Islamic republic slightly, opening up the possibility of an eventual deal and higher Iranian oil sales. Iran and six world powers failed to meet a July 20 deadline for a settlement over Tehran's nuclear activities, but held out hope of an agreement by extending the negotiations for four months. The world powers also agreed to let Iran access another $2.8 billion of its cash frozen abroad during the four-month period, although most sanctions on the Islamic Republic remained.
Britain warns Putin: Russia Sanctions Possible
Britain warned Kremlin chief Vladimir Putin on Monday that the Russian economy would face sectoral sanctions unless Moscow granted full access to the Malaysia Airlines crash site and stopped stoking instability in Ukraine. Britain says a Russian missile fired from Ukrainian territory controlled by Russian-backed rebels probably shot down Malaysia Airlines flight MH17 with the loss of 298 lives including 10 British nationals. "We should be discussing going further, sectoral measures, tier three," a spokesman for British Prime Minister David Cameron told reporters.
Exxon Rig Enters Uncharted Waters of Russian Political Storm
U.S. sanctions on Russia include Rosneft, Exxon's partner: Project may not break sanctions, but brings political risks. An ordinary, long-scheduled journey of an oil drilling rig into Arctic waters is turning into a major political exercise, attracting international scrutiny and creating a dilemma for ExxonMobil. Exxon, the top U.S. oil major and the world's most valued oil company, is bringing the rig, called West Alpha, from Norway to the Russian Arctic. It is hoping for a major discovery in the Kara Sea with Russian partner Rosneft.
