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Regulation

Deepwater Acreage to Attract Investments

Image: Norwegian Petroleum Directorate

Deepwater acreage will continue to attract significant company interest through 2020, said a report.According to GlobalData, a significant portion of the acreage available in Q1 2020 is located in either deep or ultra-deep water, up from the previous quarter.In Q1 2020, approximately 60% of the acreage

COVID-19: IMO Urges No Unnecessary Delays To Ships

Image: International Maritime Organization (IMO)

The International Maritime Organization (IMO) has sent a letter to its member states amid the outbreak of the novel coronavirus asking them to undertake all possible measures to prevent unnecessary delays of ships.The letter urges Flag State authorities, port State authorities and control regimes, companies and shipmasters to cooperate,

Excelerate to Manage FSRUs In-house

Image: Excelerate Energy L.P.

Houston-based Excelerate Energy’s unit, Excelerate Technical Management (ETM) has been authorized to operate as ship manager for its parent company’s entire fleet of floating storage and regasification units (FSRUs).The Republic of the Marshall Islands and the Government of Belgium have

EU Clears OLT Takeover by SNAM and FSI

Image: OLT Offshore LNG Toscana

The European Commission has approved the acquisition of OLT Offshore LNG Toscana by SNAM and the UK’s First State Investments International (FSI), under the EU merger regulation.According to the Commission, OLT is active in the management of a floating storage and regasification unit for liquefied natural gas in Italy.

UKCS Mediation Pilot Launched

Image: Oil and Gas Authority

UK oil and gas industry regulator Oil and Gas Authority (OGA) has revealed that it has launched a year-long UK Continental Shelf (UKCS) “mediation pilot”.According to the OGA, the pilot aims to test the extent to which mediation can resolve certain disputes between oil and gas licensees, operators and infrastructure owners in the UKCS.

SDC 7 to Finalize Ship Stability Criteria

Image: International Maritime Organization (IMO)

International Maritime Organization (IMO) 's Sub-Committee on Ship Design and Construction (SDC 7), meeting at IMO Headquarters (3-7 February), is expected to finalize a comprehensive set of interim guidelines on second generation intact stability criteria, including guidelines on vulnerability criteria,

PGNiG Acquires Duva Field in Norway

Image: PGNiG

PGNiG Upstream Norway, a subsidiary of Polish Oil and Gas Company (PGNiG), has obtained a final administrative consent to purchase additional 10% interests in the PL636 and PL636B licences in the North Sea.Following the transaction, PGNiG Upstream Norway’s (PUN) interests in both licences increased to 30%.

Fueltrax Earns Certification by Verifavia

Image: Fueltrax

Verifavia Shipping, the independent accredited environmental verification and auditing body for maritime industry, has certified Fueltrax, against the European Union’s (EU) Monitoring Reporting and Verification (MRV) regulation requirements and IMO Data Collection System (DCS).The EU MRV regulation requires ships of 5,

India Okays Model Pact on Seafarers

Indian Prime Minister Narendra Modi. Photo: PIB

Indian Government approved a model pact with foreign countries that would also allow unilateral recognition of seafarers' competency certificates, thus easing the process for them to seek employment on ships under the flag of that country.The decision was taken at a meeting of the Union Cabinet chaired by Prime Minister Narendra Modi.

SOLAS Amendments from 1 January 2020

Image: International Maritime Organization

A set of important amendments to the International Convention for the Safety of Life at Sea (SOLAS) and various codes mandatory under the Convention enter into force on 1 January 2020, said International Maritime Organization (IMO).Amendments to SOLAS regulations III/3 and III/20 make mandatory the Requirements for maintenance,

Singapore Raises Concern over HHI-DSME Deal

Image: CCCS

The Competition and Consumer Commission of Singapore (CCCS) has expressed concern about the agreement of fusion notified from the South Korean shipbuilding groups Hyundai Heavy Industries (HHI) and Daewoo Shipbuilding & Marine Engineering Co. (DSME).The authority antitrust of Singapore has raised

Seaway Closing to Cost $250Mln per Week

Bruce Burrows. Photo: Chamber of Marine Commerce

Closing the St. Lawrence Seaway in December to accommodate higher water outflow at the Moses-Saunders dam would cost the Canadian and U.S. economies $250 million/per week — impacting farmers’ grain exports, manufacturing plant operations and disrupting deliveries of fuel, construction materials

SHI to Pay $75m in Fine: US Justice Dept

Pic: Samsung Heavy Industries Co.

 South Korean shipbuilder Samsung Heavy Industries Co. (SHI) has agreed to pay $75 million in penalties to avoid prosecution in the United States over its scheme to pay millions of dollars in bribes to Brazilian officials to win a contract.“Samsung Heavy Industries paid millions of dollars to a Brazilian intermediary,

Fed Okays Rio Grande LNG Project

Pic: NextDecade Corporation

NextDecade Corporation announced that the Federal Energy Regulatory Commission (FERC) has issued an order authorizing the siting, construction and operation of its proposed Rio Grande LNG export facility in Brownsville, Texas.“Issuance of the FERC order marks an extremely important milestone for our project,

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