Enterprise Products Partners' (EPP) announcement yesterday that it is planning to develop an offshore crude oil export terminal off the Texas Gulf Coast holds promise of moving more US crude to international markets. A recent report from the US Energy Information Administration found exports are constrained by shallow inland ports and the inability to accommodate VLCCs. The EPP terminal would be capable of fully loading VLCCs, which have capacities of approximately 2 million bbl and provide the most efficient and cost-effective solution to export crude oil to the largest international markets in Asia and Europe. EPP has started front-end engineering and design and preparing applications for regulatory permitting. Based on initial designs, the project could include approximately 80 miles of 42-in.
Emerson Process Management's Rosemount Analytical GDU-Incus ultrasonic leak detector received the Det Norske Veritas (DNV) type approval. The device is suitable for use on board marine vessels, including liquefied natural gas and liquefied propane gas carriers, crude oil tankers, and FPSO units. Because the detector responds to the ultrasound produced by the leak, extreme weather and wind on vessels and platforms do not affect its performance. Using four acoustic sensors that constantly monitor wide areas for ultrasound generated from the release of pressurized gas, the device is suited for monitoring ventilated outdoor applications and responds instantly to methane, hydrogen, and other low-molecular-weight gases. The company said it does not require calibration or replacement for the life of the instrument, and an integrated self-test ensures fail-safe operation.
Oil and gas market is in a new era of volatility. The price of crude is being affected by several factors ranging from geopolitical developments, technological breakthroughs, short-term market news and most recently the trade war between the US and China. Several oil and gas producers therefore have well established trading departments that manage pricing risk across the supply chain--from crude oil supply, to term and spot sale. In this segment of Discover a Career, we talked to Emily Doyle, who works with Shell as a fuel oil blender & commercial operations analyst to learn more about her role, responsibilities, and experience as an energy trader. She also shared how strong analytical skills and operational knowledge can be a plus to succeed in this business, contrary to the common misconception that a degree in finance is a must to be an energy trader.
This training course will provide a high level overview of how to perform subsea well abandonments. It will take the learner step by step through the regulations and guidelines and different subsea well tree configurations. Review vessels and riser systems available to safely conduct subsea well abandonment operations. All cancellations must be received no later than 14 days prior to the course start date. Cancellations made after the 14 day window will not be refunded.
To the east of Port Aransas, Texas, the Gulf of Mexico stretches out, blue-green and sparkling. To the west and north, flounder and trout meander in a chain of bays. Others come to this beach town near Corpus Christi to kayak, parasail or admire the hundreds of bird species on the barrier island, which is deep into rebuilding efforts after Hurricane Harvey damaged or destroyed 85% of the buildings here last year. A perfect location, from a certain point of view, to put not one but two crude-oil export terminals for ships so big they're called supertankers. Those proposals are part of a historic buildout of oil and gas infrastructure in the United States as it becomes a top exporter of both fuels.
Rescue crews were forced to retreat from a stricken Iranian oil tanker in the East China Sea on 3 January following an explosion on the ship as a fire raged for a fourth day after a dramatic collision. The blast happened on board the tanker in the afternoon after rescue crews were dousing the ship with foam in an attempt to put out the fire, China's Transport Ministry (MOT) said in a statement on 3 January. The cause and damage to the tanker from the incident were not clear. The ship was carrying condensate, a highly flammable ultralight crude, to deliver to South Korea when it collided with a Chinese freight ship on Saturday. Dozens of rescue boats from China and South Korea have been battling strong winds, high waves, and poisonous fumes to comb a 900-square-nautical-mile area for 31 missing sailors and tame the fire, amid growing concerns the listing ship may explode or sink.
British shipping services provider Clarkson on 29 November said it was the victim of a cybersecurity hack and warned that the person or people behind the attack may release some data shortly. The company's disclosure, while a relatively rare event in Britain, follows a series of high-profile hacks in corporate America. Clarkson is one of the world's main shipbrokers, sourcing vessels for the world's largest producers and traders of natural resources. It also has a research operation which collects and analyses data on merchant shipping and offshore markets. The London-headquartered company said it had been working with the police on the incident but did not provide any details about the scale or type of data stolen.
Pirates boarded a fully loaded supertanker off the coast of Nigeria, an act that is sure to ring alarm bells for insurers about the risk of collecting oil from Africa's biggest producer. Nineteen crew members were kidnapped and remain missing, a spokeswoman for Navios, the ship's owner said by phone on 4 December. The incident happened late on 3 December approximately 77 nautical miles from Bonny Island, a key loading point for Nigerian crude. The vessel had only recently collected its cargo. The crew that didn't get kidnapped were able to sail the vessel to a safe location, the Navios spokeswoman said, adding that the company's priority is the safe return of those who are missing.
In early December, the Nave Constellation supertanker was hijacked. Pirates boarded the fully loaded ship, stole its oil cargo, and kidnapped 19 members of its crew about 77 nautical miles from Bonny Island, a loading terminal in Rivers State, Nigeria. While attacks on supertankers are rare, piracy is so common in the Gulf of Guinea that, in its July report, the International Maritime Bureau (IMB) described the passage as "one of the most dangerous shipping routes in the world" and a "world piracy hotspot." Yet, because it is such a crucial part of the regional economy, ships still sail its waters and assume the increasingly higher costs that come with the threat of maritime piracy. Ninety percent of trade to West Africa comes by sea, according to the Danish Ministry of Foreign Affairs, so maritime security is a crucial factor in the region's economy.