Williams Inks Deal for Whale Deepwater Transport Services
Williams (NYSE: WMB) reached an agreement with Shell Offshore Inc. and Chevron U.S.A. Inc. to provide offshore natural gas gathering and crude oil transportation services as well as onshore natural gas processing services for the Whale development located approximately 10 miles from the Shell-operated Perdido…
Gazprom's Arctic Offshore Platform Ships Its 200th Oil Cargo
Gazprom Neft, the oil branch of Russian gas giant Gazprom, has shipped the 200th consignment of ARCO crude from its Prirazlomnaya offshore platform in the Russian arctic.This milestone shipment was carried out by the Mikhail Ulyanov tanker — several return trips to the Prirazlomnaya platform being necessary to despatch a consignment comprising 70,000 tonnes of oil.
Energy Transfer to Buy SemGroup
Oil and gas pipeline company Energy Transfer LP said on Monday it would buy smaller rival SemGroup Corp for $1.35 billion and build a 75-mile oil pipeline to strengthen its oil transportation, terminalling and export operations.Energy Transfer will gain control of SemGroup's crude oil terminal on the Houston Ship Channel, and to connect it with its Nederland, Texas terminal, Energy
Enterprise Products to Build GoM Crude Terminal
Enterprise Products Partners LP said on Wednesday it expects to take about two years to construct its oil export project called Sea Port Oil Terminal, or SPOT, in the U.S. Gulf of Mexico.Permitting for the terminal was expected to reach the final stages by the end of the first quarter of 2020 and final approval was expected during the second quarter…
Phillips 66, Kinder Announce Gray Oak Pipeline Deliveries to Houston
Phillips 66 and Kinder Morgan Inc began on Monday soliciting shipper commitments for crude deliveries on the 900,000 barrel per day (bpd) Gray Oak Pipeline from the Permian Basin to delivery points at or near the Houston Ship Channel, the companies said.The Gray Oak Pipeline would deliver crude to the Houston area through a connection in South Texas.
Turkish Navy Monitoring Drilling Vessel near Cyprus
Turkey has sent two ships and a submarine to monitor a drilling vessel in the eastern Mediterranean Sea, the military said on Thursday, in a move likely to increase tension with Cyprus after reunification talks failed last week. The drilling work, a contractual obligation between Cyprus and France's Total, comes…
Euronav Reports: Tanker Market is "Full Steam Ahead"
Euronav NV (NYSE: EURN) this morning issued a release to set the record straight with investors, from its perspective, on current market conditions in the large tanker market. According to Euronav, despite the current capital market's predominantly negative sentiment , Euronav said that it continues to experience robust and fundamental strength in the VLCC and Suezmax sectors.
Prumo Sells 20% of Brazil Acu Oil Terminal to Oiltanking
Prumo Logistica SA , the Brazilian port operator controlled by U.S.-based EIG Global Energy Partners, agreed to sell 20 percent of its oil terminal at Brazil's Port of Açu to Germany's Oiltanking for $200 million, Prumo said on Thursday. Under the agreement Oiltanking will also manage the Port of Açu Oil Terminal…
Tankers Booked to Store Oil at Sea
Oil traders have booked up to 20 tankers to store an estimated 40 million barrels of crude at sea, rising from 25 million barrels last week, as they soak up a stocks glut in anticipation of future profits, shipping and oil market sources said. The more than 50 percent fall in spot prices since June enables traders to make money by storing the crude for delivery months down the line…
Tankers to Store 25m Barrels of Oil At Sea
Oil traders have booked at least 12 tankers to store 25 million barrels of crude at sea in a further sign of a build-up in global stocks, reports Reuters. To take advantage of the crash in crude prices and make a profit down the line, floating storage levels are expected to increase further in coming weeks.
Traders Book Oil Tankers to Store 25m Barrels at Sea
Some of the world's biggest oil traders have booked supertankers to store at least 25 million barrels at sea in recent days, seeking to take advantage of the crash in crude prices and make a profit down the line. Floating storage levels are expected to increase further in coming weeks as trading companies adopt…
Supertankers Buying Spree to Beat Oil Glut
Some of the world’s largest oil traders are reportedly hiring supertankers in a possible attempt to stockpile oil supplies following the plunge in world prices. Trading firms including Vitol, Trafigura and energy major Shell have all booked crude tankers for up to 12 months, Reuters said, quoting freight brokers and shipping sources.
Arctic Pipeline being Built from Messoyakhinskoe
Messoyakhneftegaz has began building a pressurized pipeline from the Messoyakhinskoe group of deposits, located to the north of Yamalo-Nenets Autonomous Region, to the main Arctic Circle-Purpe pipeline system. The oil pipeline with a maximum capacity of 7 million tonnes a year will be laid on both sides at the same time, and its length is 96.5 km.
Pembina Pipelines to Boost Size of Expansion Program
Pembina Pipeline Corp , which operates a regional pipeline network in Western Canada, said on Wednesday it will boost the size of a planned C$2 billion ($1.83 billion) expansion, adding an additional 420,000 barrels per day of capacity to its system. The company said strong demand for oil transportation led it to add two additional pipelines to its Phase III expansion project.
First Shipment of Russian Novy Port Oil
Gazprom Neft provided a summer shipment of oil from Novoportovskoe deposit – for the first time, the raw material was taken by sea and sent to European consumers, according to Russian official news agency Arctic-Info. The new oil called Novy Port is the light and low sulfur content (about 0.1%) category and exceeds not only the Russian Urals blend in quality, but also Brent.
Dakota Plains to Link Hiland Pipeline to its Rail Terminal
Oil transportation company Dakota Plains Holdings Inc said it would link its Pioneer Rail Terminal in North Dakota to Hiland Partners LP's pipeline carrying crude out of the Bakken shale formation. Oil by rail has surged in recent years as a production boom in North Dakota outpaced pipeline capacity. The connection…
New Crewboat Design for Offshore O&G Market
Upgraded crewboat design employs carbon-reinforced composite materials and is lighter, faster and more fuel-efficient than alternatives. Marine Oil Transportation Consultants Inc (MarinOIL) and Tuco Group of Denmark have concluded a cooperation agreement that will see the marine projects consultancy market the…
Maersk Continues Exit from Crude Transport
Maersk Tankers, a unit of A.P. Moller-Maersk, said on Thursday it had quit four unprofitable crude oil charter contracts by buying out supertankers and selling them onwards, continuing its exit from crude oil transportation. The company now has charters for just two supertankers, called Very Large Crude Carriers (VLCCs)…
Disasters at Sea & Their Impact on Shipping Regulation
The history of marine safety is soaked in water and written in blood. “I think that most people will tell you that changes in marine safety are almost exclusively disaster-driven,” agrees Dr. Josh Smith, a professor at Kings Point and interim director of the American Merchant Marine Museum. It hasn’t always been that way. Actually, it’s been worse.
BridgeTex Gulf Coast Pipeline Commissioning Date Set
Magellan Midstream Partners subsidiary, BridgeTex Pipeline Company, says it plans to begin the commissioning of the BridgeTex Pipeline in the third quarter of 2014 to meet a significant need for crude oil transportation service from the Permian Basin to the Houston Gulf Coast area. In order to accommodate requests…
