Iran stands 3rd in world oil.

Crude oil reserves in the Iran are expected to rise to more than 150 billion barrels by the end of the Iranian year, the country’s oil minister said Monday. Iranian Oil Minister Masoud Mir Kazemi said Iran wasn’t a poor country in terms of oil and natural gas deposits.

Samson Oil & Gas Limited advises that the Earl #1-13H well in Williams County, North Dakota, recorded strong oil and gas shows when it landed in the middle member of the Mississippian Bakken Formation, at a total vertical depth of 11,310 feet, on October 11th. Casing will now be run into the hole and cemented.

Jude    Maritime News, News     Bakken Formation, Crude oil reserves, Earl #1-13H well, fields explorations, Masoud Mir-Kazemi, Mississippian Bakken Formation, North Dakota, North Stockyard Field, oil and gas, oil and natural gas, oil minister, Petroenergy Information Network, Samson Oil & Gas Limited, Williams County

Californian port offers shoreside electrical power for Cruise ships.

The Port of San Francisco has became the first Californian port, and one of only a handful of ports in the world, to provide shoreside electrical power for cruise ships while at berth. Shoreside power results in zero air emissions while a ship is connected in port. This new system is not only the first in the state, but just the fourth in the world.

The largest mobile harbour crane on the United States’ east coast was officially commissioned for service at Rukert Terminals, Baltimore. In August Liebherr one of the top suppliers of port equipment and the world market leader for mobile harbour cranes delivered a Mobile Harbour Crane, type LHM 500S to Rukert Terminals. The Rukert Terminal is located at the Port of Baltimore and specialises in the handling of metals, ores, salt, alloys, and other dry bulk and break-bulk cargoes and containers.

DP WORLD’s Chennai Container Terminal Ltd (CCTL) has been opened as India’s first “e-terminal” by the Shipping Minister GK Vasan. Online services offered by CCTL include Electronic form 13, Electronic SSR, web access, web-based customer relationship management, e-invoice, e-statements and web/SMS based container tracking system. Also installed are two new twin lift super postpanamax cranes at Bharti Dock with a lifting capacity of 65 tonnes to reduce the turnaround time of vessels.

Jude    Maritime News, News     Alaska, alloys, Bharti Dock, break bulk cargoes, Californian port, Chennai Container Terminal Ltd., container tracking system, Cruise ships, dp world, dry bulk, GK Vasan, global trade, harbour crane, Island Princess, Juneau, large scale vessels, largest mobile, Liebherr, Los Angeles, metals, ores, Port of Baltimore, Princess Cruises, Rukert Terminals, salt, San Diego, San Francisco, Seattle, shoreside electrical power, super post panamax cranes, twin lift, United States, Vancouver

CNOOC signs LNG deal with GDF Suez.

Chinese offshore oil and gas company CNOOC agreed Saturday to buy 2.6 million tons of liquefied natural gas from French utility GDF Suez SA. The deal, signed in Shanghai with CNOOC’s wholly owned CNOOC Gas and Power Group, calls for France’s partially state-owned gas and electric company to provide the LNG over four years, beginning in 2013, executives of GDF Suez told reporters.

Yemen plans to offer 10 oil and gas blocks for development during an international energy conference later this months, the Oil Ministry said. The conference will also introduce 10 opportunities for investment in mining projects, it said. Separately, Yemen and Kuwait Energy Co. signed a preliminary deal for the private firm to conduct a study on uses and reserves of gas in Yemen.

Jude    Maritime News, News     Chinese offshore, CNOOC, European gas supplier, gas and electric, Gas and Power Group, GDF Suez SA., Gerard Mestrallet, Kuwait Energy Co., liquefied natural gas, main markets in Europe, offshore blocks, oil and gas company, onshore, Shanghai, South Korea, United States, Yemen

Petrobras finds 1.7 trillion cubic feet of natural gas.

Peruvian President Alan Garcia says Brazil’s state oil and gas giant Petrobras has confirmed finding 1.7 trillion cubic feet of natural gas in southeastern Peru. Garcia says the gas will be for local consumption and should be enough to supply southern Peru for 20 years, driving down electricity prices for the region’s residents.

Lario Oil & Gas Company announced that it has acquired, in conjunction with an undisclosed partner, approximately 23,000 net acres of highly prospective rights targeting the Bakken and Three Forks formations, primarily in the Little Knife Field in Dunn and Stark Counties, North Dakota, from Rocky Mountain Exploration, Inc., a privately held exploration company based in Denver. The acquisition closed on September 23, for an undisclosed sales price, with an effective date of July 1, 2010.

News coming up from Asia.. India will offer 34 blocks in the forthcoming auction of oil and gas assets, Petroleum Minister Murli Deora said in London Friday. ‘Under the ninth round of NELP (New Exploration Licensing Policy), government of India will be offering 34 blocks from 10 sedimentary basins,’ Deora said at the curtain raiser meeting for the ninth auction round in London.

Jude    Maritime News, News     Alan Garcia, Bakken, Brazil's state oil and gas, Cuzco region, Energy Minister Pedro Sanchez, from Rocky Mountain Exploration, government of India, La Convencion, Lario Oil & Gas, Little Knife Field, Murli Deora, natural gas, New Exploration Licensing Policy, North Dakota, oil and gas fields, Peruvian President, petrobras, Petroleum Minister, southeastern Peru, Stark Counties, Three Forks formations

LandStar Inc. to merge with Cressent Energy

LandStar Inc. management is considering a merger with a US-based oil and gas company. The USA company is Cressent Energy. This promising company is involved in natural gas exploration in the state of Texas and has a number of assets, including 50 oil wells and well equipment, totalling over 200 tanks and 20 pumping units.

Samson Oil & Gas Limited advises that its Board of Directors held a three-day management meeting the week of September 23, 2010, including a field tour of the Company’s primary operations, meetings with the Company’s outside advisors and a comprehensive strategic review meeting.

Jude    Maritime News, News     Bakken field, Chinese petrochemical industry, Cressent Energy, gas producing, Hubei Chuguan Technology Co. Ltd., LandStar Inc., Niobrara play, North Dakota, onshore Gulf Coast Basin, Samson Oil & Gas, state of Texas, vapor recovery units, Wyoming

GE to Buy Dresser for $3 Billion

General Electric Co. agreed to buy oil-field equipment maker Dresser Inc. for $3 billion, expanding its biggest industrial unit, as Chief Executive Officer Jeffrey Immelt begins spending cash accumulated over the past two years. The purchase of closely held Dresser will add to earnings next year, GE said today.

Universal Bioenergy announced today that it is establishing a new subsidiary company that will directly produce and supply natural gas and petroleum to sell to its major utility customers, and growing customer base. On October 1, 2010, executives of Universal Bioenergy, and NDR Energy Group flew to Houston, Texas, and engaged in direct discussions with several gas/oil production companies, to negotiate agreements to obtain natural gas and petroleum fuels directly from the wellhead, to market to its customers.

Here is an upcoming event for those interested in oil and gas, it’s the Independent Petroleum Association of America’s Oil & Gas Investment Symposium aka IPAA OGIS that will be held on the 14th of October 2010 in San Francisco, California. Presenting on behalf of National Fuel will be Matthew D. Cabell, President of Seneca Resources Corporation, National Fuel’s wholly owned exploration and production subsidiary.

Jude    Oil and Gas     California, Dresser Inc., General Electric Co., Houston, Independent Petroleum Association of America, IPAA OGIS, Jeffrey Immelt, Matthew D. Cabell, natural gas and petroleum, NDR Energy Group, Oil & Gas Investment Symposium, oil and gas fields, oil-field equipment maker, San Francisco, Seneca Resources Corporation, Texas, Universal Bioenergy

Exxon Mobil Selling Some Mature Oil, Gas, Pipeline Assets

Exxon Mobil Corp. is putting up a small portion of its U.S. Gulf of Mexico oil and gas producing assets for sale, as well as some pipeline holdings in the area, the company said Tuesday. The largest U.S. oil company by market capitalization said in a statement that the sale is part of the normal management of its portfolio.

Cabot Oil & Gas Corp said it closed on a new credit facility that increased the existing credit line by 80 percent to $900 million and extended the maturity period by five years to 2015. The company, which established a borrowing base of $1.5 billion, also said it started producing its second Eagle Ford oil shale well in Texas, with a production rate of 759 barrels of oil and 1 million cubic feet per day.

Jude    Oil and Gas     Cabot Oil & Gas Corp., Dan Dinges, Eagle Ford oil shale well, Exxon Mobil Corp, Gulf of Mexico, largest U.S.oil company, oil and gas, oil and gas production

B.C. oil and gas regulations taking effect

The British Columbia government on Monday touted the introduction of new oil and gas regulations it says brings the province’s regulatory regime into the 21st Century. In a news release, the province said its new Oil and Gas Activities Act updates the previous framework, which is more than 50 years old, while acknowledging the contributions the energy industry makes to the province’s treasury.

The Iranian oil minister said that Tehran and Beirut had agreed to cooperate in oil and gas exploration in Lebanon. IRINN quoted Masoud Mirkazemi as saying here after a meeting with his Lebanese counterpart that the two sides agreed on building oil refineries and exporting gas to that country.

Shell Oil Co. spent $4 million in the second quarter to lobby the federal government on offshore petroleum drilling and other issues, according to a disclosure report. That’s up from the $2.57 million the company spent last year and the $2.27 million it spent in the first three months of 2010.

Jude    Maritime News, News     Bill Bennett, BP's oil spill, British Columbia, clean energy legislation, deepwater exploration, Dutch oil giant, Gulf of Mexico, Iran, Iranian oil, Iraq, Islamic republic, Jubran Basil, Lebanese Energy, Lebanon, Masoud Mirkazemi, Mines, offshore oil and gas, offshore oil drilling, offshore petroleum, oil and gas, oil and gas exploration, oil and gas regulations, oil refineries, Petroleum Resources, shale gas drilling, Shell Oil Co, Syria, Tehran and Beirut

Brussels to address safety of offshore oil and gas activities

The European Commission will present a communication on “Facing the challenges of the safety of offshore oil and gas activities” on Wednesday. the document will outline changes to EU legislation as well as non-legislative initiatives to be taken with member states’ regulatory authorities and industry in response to the Gulf of Mexico oil spill in April, when the Deepwater Horizon drilling rig exploded in the Gulf of Mexico – resulting in a massive oil leak from the drilled oil on the sea bottom that lasted for over 85 days.

The government plans to offer tax incentives in the next round of bidding for oil and gas blocks, to be launched later this month, to attract global firms. At present, oil companies get a seven-year tax waiver on their income for selling crude from a block. However, there is no such benefit for natural gas production.

Jude    Maritime News, News     Deepwater Horizon drilling rig, drilled oil, economic and social damage, EU legislation, European Commission, Gulf of Mexico, Gulf of Mexico oil spill, massive environmental, natural gas production, New Exploration Licensing Policy, oil and gas activities, safety of offshore, sea bottom, US coast

Offshore drilling ban update.

Offshore drilling ban and moratorium stays put despite new rules that were put in place by the interior department to make offshore drilling safer. With the new rules comes a more aggressive regulatory stance and so far no indication has been made over when the ban will be lifted.

DJ reported that the Iraqi cabinet approved USD 733 million deals for Leighton Offshore Private Limited to build a new oil export terminal in the southern city of Basra. Mr Ali Al Dabbagh spokesman for the Iraqi government said that the capacity of the new terminal will be 1.8 million barrels a day.

Stanford Marine GCC and its Singapore subsidiary Stanford Asia have successfully been awarded a contract by a GCC based major LNG Company for their new DP2 Platform Supply Vessels MMPL Kestrel and MMPL Merlin. These PSVs are to support the existing ongoing offshore operations of the LNG Company starting summer 2010.

Jude    Maritime News, News     BP oil spill, DP2 Platform Supply Vessel, Exxon Valdez tragedy, fixed offshore installations, Leighton Offshore, LNG Company, MMPL Kestrel, MMPL Merlin, offshore drilling, offshore support vessels, Platform Supply Vessels, Stanford Asia, Stanford Marine