News

ABB, the leading power and automation technology group, has won an order worth around $1 billion from the Dutch-German transmission grid operator TenneT to supply a power link connecting offshore North Sea wind farms to the German mainland grid.

Jensen Maritime Consultants, Inc., recently completed the custom design work for the Bob Franco, a new Azimuth Stern Drive (ASD) tugboat for Harley Marine Services. The vessel – measuring 120 feet in length and 35 feet in width – is one of the first to be powered by Tier III CAT C175 engines

The international shipping industry has taken its first steps to increase fuel efficiency and reduce emissions. The International Maritime Organisation (IMO) has agreed to enforce stronger energy efficiency standards for new ships beginning in 2013.

OSX Brasil S.A., a brazilian publicly held corporation focused on the supply of equipment and services to the offshore oil and gas industry, through integrated operations in shipbuilding, chartering of exploration and production (E&P) units, and operation and maintenance (O&M) services, informs of its Plan of Activities, to be implemented by its subsidiary OSX Construção Naval S/A, for production of offshore oil and gas E&P equ

Brent oil prices will soften in the second half of this year to around $110 a barrel on worries that government debt problems and sluggish growth will cap demand,

Gazprom Neft, the oil arm of energy giant Gazprom, has bought a 30 percent stake in a project to develop four blocks on the Cuban shelf of the Gulf of Mexico, the company said on Monday.

Kuwait National Petroleum Company (KNPC) announced Sunday that it has made great strides in reducing gas emissions from its oil facilities using the most sophisticated environment protection systems.

The release of 60 million barrels of crude oil from strategic stocks by the International Energy Agency (IEA) was camouflaged to cover the loss of Libyan exports but it was seen

Petroleo Brasileiro, or Petrobras, plans to invest $11 billion in oil exploration, production and refining projects in Mexico between now and 2015, an official said.

Russia's pipeline monopoly, Transneft (TRNF_p.MM: Quote) is starting to fill the second phase of the Baltic Pipeline System and will likely deliver the first oil via BPS-2 to Belarus

Egypt made two natural-gas discoveries in the Nile River Delta and Mediterranean Sea, boosting its reserves by 194 billion cubic feet of gas and 2 million barrels of condensates, the Oil Ministry said.

Korea’s shipbuilding industry took back its world leading position during the first half of the year, but there is one sector that might not feel so celebratory - the foreign exchange market.

During the year to date, India had reported around 229 vessels, while Bangladesh 49 units, according to Piraeusbased shipbroker Golden Destiny . It said India is leading,

Singapore-listed Chinese shipbuilder COSCO Corp reported a 53 percent fall in its second quarter net profit on Monday, saying it was hurt by lower contributions from

Listed in Seoul Korea, Doosan Engine Co Ltd SEO:082740 has been upgraded to a strong buy with a 2012 price target of 40,000 KRW issued today by Shayne Heffernan.

The traumatic bombing and shootings in Norway on July 22 claimed 77 innocent lives. Most of them were young people between 15 and 22 years of age. These horrific actions

Two reports were published this week that put the boot into container shipping line practices.The first to come out was on slow steaming and its effects on Asia pacific

Oman crude's official selling price rose in September for the first time in two months as the high price of oil from West Africa and Russia forced refiners to purchase more Middle Eastern grades.

Petróleo Brasileiro S.A. - Petrobras announces that it has completed drilling of the second extension well in Guará area, 3-SPS-82A (3-BRSA-923A-SPS), located in the Santos Basin pre-salt.

Venezuelan President Hugo Chávez explained that one of the factors taken into account by the Organization of the Petroleum Exporting Countries (OPEC) to set production