Saudi Arabia's Bahri is targeting acquisitions in Asia and the Middle East as the exclusive oil shipper for state energy giant Saudi Aramco seeks to expand its reach, the chief executive said on Wednesday.Bahri is the world's largest owner and operator of very large crude carriers (VLCCs).
OSVDPA accredits Texas A&M Maritime Academy to provide dynamic positioning (DP) training to its cadets.In early September, the Offshore Service Vessel Dynamic Positioning Authority (OSVDPA) announced that the Texas A&M Maritime Academy at Texas A&M University at Galveston was now the first maritime academy in the nation accredited to provide OSVDPA courses to its cadets. For any U.S.
Swedish oil firm Lundin Petroleum expects to increase its resource estimate for the Alta discovery in Norway's Arctic region following a successful two-month production test.Finding significant oil reserves in the Norwegian Arctic has been challenging for oil firms, but Alta is among the exceptions along with ENI's Goliat field and Equinor's Johan Castberg discovery.
Oil prices could rise towards $100 per barrel towards the end of the year or by early 2019 as sanctions against Iran bite, commodity merchants Trafigura and Mercuria said on Monday at the Asia Pacific Petroleum Conference (APPEC) in Singapore.Almost 2 million barrels per day (bpd) of crude could be taken out of the market as a result of the U.S.
U.S. oil prices edged up on Tuesday, rising back past $70 per barrel, after two Gulf of Mexico oil platforms were evacuated in preparation for a hurricane.U.S. West Texas Intermediate (WTI) crude futures were at $70.04 per barrel at 0034 GMT, up 24 cents, or 0.3 percent from their last settlement.
Harvey Gulf International Marine’s parent, HGIM Corp., has announced the appointment of a new Board of Directors to serve following the company’s emergence from Chapter 11 proceedings.The seven member Board includes two current members remaining on the Board and five new members, each with expertise in individual areas particularly suited to support the company’s operation and development and
The United States accused North Korea on Thursday of breaching a U.N. sanctions cap on refined petroleum by making illicit transfers between ships at sea, according to a document seen by Reuters, and demanded an immediate end to all sales of the fuel.The United States submitted the complaint to the U.N. Security Council North Korea sanctions committee.
Oil firms are expected to drill 40-50 exploration wells off Norway this year compared to 36 wells drilled the previous year, the Norwegian Petroleum Directorate said on Thursday.The Norwegian continental shelf still held an estimated 4 billion cubic meters (25.2 billion barrels) of oil equivalents in undiscovered petroleum resources, with two-thirds located in the Arctic Barents Sea, it added.
U.S. midstream oil firm Buckeye Partners and commodities trader Trafigura said on Thursday that modifications to their terminal in Texas to accommodate large tankers were completed and the first shipment of crude on a Suezmax tanker took place. The Buckeye Texas Hub terminal located in Corpus Christi shipping channel is 80 percent owned and operated by Buckeye while Trafigura holds a 20
In 2011, Bouchard Transportation Co. establishes the Morton S. Bouchard Jr. Memorial Scholarship fund, which is designed to recognize deserving cadets who demonstrate the achievement and leadership ability to successfully pursue a career in the petroleum barge industry. The scholarship has since been formed at SUNY Maritime College, Massachusetts Maritime Academy
Asia's oil and gas producers are starting to revive projects aimed at deflating years of ballooning energy imports after new investment dried up following the 2014 industry crisis. Spending has so far been driven mainly by state oil companies such as India's ONGC, Thailand's PTTEP and PetroVietnam, which need to produce more oil and gas to ensure their countries' energy security
Saudi Arabian maritime transport and logistics company Bahri has appointed Abdullah Aldubaikhi as its new chief executive office. Aldubaikhi’s appointment, which takes effect January 1, 2018, comes as the company gears for a new phase of expansion following several months of growth, according to Bahri chairman, Abdulrahman M. Al-Mofadhi.