Drilling wells more than three miles deep in the late 1960s was something that GHK Company and partner Lone Star Producing Company believed would product massive amounts of natural gas. The two companies that began this project discovered in 1974 that South of Burns Flat in Washita County their Bertha Rogers No. 1 rig would reach almost six miles deep, following a deep-sea fishing trip.
China's two largest shipbuilders are planning to merge, their listed arms said in separate exchange filings on Monday, the latest to join a wave of mergers among state-owned enterprises as the government overhauls the sector.The move by China Shipbuilding Industry Corp (CSIC) and China State Shipbuilding Corp Ltd (CSSC)
The Norwegian Continental Shelf’s journey from the very first basic marinized subsea trees to today’s complex and sophisticated subsea processing equipment has been a rapid, at times turbulent, but always remarkable.There are many engineers who have seen through that journey, from the first exploration wells using Norwegian rigs in the mid-1970s to today.
Norway-based ship owning company Ocean Yield ASA has taken delivery of the very large crude carriers (VLCC) Nissos Despotiko.The vessel was delivered from the yard Hyundai Heavy Industries in South Korea and is the second in a series of four VLCCs that will be delivered to the Company in 2019.
New marine fuel rules to boost diesel prices for at least a year -analystsGlobal prices for diesel and marine fuels should rise by October ahead of a January switchover to new, very low-sulfur marine fuels, and remain higher for at least a year as refiners shift production to make more of the new fuels, analysts said.Marine fuels containing no more than 0.5% sulfur by weight, down from the 3.
Rescue services had airlifted 479 people to safety from a luxury cruise liner with engine trouble off the coast of Norway by Sunday morning and began towing the vessel to a nearby port.The Viking Sky, with 1,373 passengers and crew on board, sent out a mayday signal on Saturday as it drifted towards land in the Norwegian Sea.
Moda Midstream LLC is considering building a second berth at its Ingleside, Texas, crude export terminal to accommodate booming shale oil production on the Gulf Coast, the company's chief executive said on Thursday.The expansion to the terminal that loads oil tankers will come as three major pipelines open in the second half of 2019, CEO Bo McCall said in an interview.
The exposure of five Philippine banks to financially distressed Hanjin Heavy Industries and Construction Co. Philippines (HHIC-Phil), which recently declared bankruptcy after it defaulted on over $400 million in loans, could put pressure on their credit ratings.Their exposure to what may well be the largest corporate default in Philippine banking history may put pressure on the credit ratings of
The Ports of Los Angeles and Long Beach on Wednesday said they set all-time records for moving cargo in 2018, after U.S. retailers and manufacturers pulled forward imports to avoid higher tariffs on Chinese goods.The Port of Los Angeles, North America's busiest container port, handled 9.46 million 20-foot equivalent units (TEUs) last year, the most in its 111-year history and 1.
Royal Dutch Shell said on Wednesday it has begun output at its Prelude floating liquefied natural gas (FLNG) facility in Australia, the world's largest floating production structure and the last of a wave of eight LNG projects built in the country over the last decade.Though the project started up later and cost more than originally estimated
While there remains much debate as to what an autonomous future looks like in the maritime sector, one company, Sea Machines, is helping to pace the field with product development, partnerships and investment.Sea Machines Robotics announced today that it had closed a $10 million Series A investment led by Accomplice VC
Royal Dutch Shell expects production at its Prelude floating liquefied natural gas (LNG) unit to start at the end of the year, a spokeswoman told Reuters on Tuesday."We continue to progress Prelude towards operations, with safety and quality being our main focus ... We expect to see production around the end of the year," she told Reuters in an emailed statement.