Thursday, December 13, 2018

Rubber News

Russia's Rosneft Signs Oil and Gas Deal with China

Pic: Rosneft

Russian oil giant Rosneft said that China National Chemical, known as ChemChina, agreed to purchase 2.4 million tons a year of crude oil. That amount is equivalent to 6% of Rosneft's total exports to China in 2017.Crude oil from Eastern Siberia will be transported to a Russian Far East port…

TransCanada Urges U.S. to Help Gas Pipeline Approvals

File Image (CREDIT: AdobeStock / © Maksym Yemelyanov )

The United States should help the natural gas industry overcome environmental challenges to new pipeline projects by adjusting regulations or adopting new laws favoring infrastructure, an executive at TransCanada Corp said at a conference this week. Suppliers in the United States, the world's biggest natural gas producer…

Sibur Says New Gas Chemical Complex Will Cost up to $8 Bln

Russian petrochemical company Sibur said its plans to build a gas chemical complex in Russia's Far East will require preliminary investments of up to $8 billion and it is still looking for Asian partners.Sibur said a year ago that it had been in talks with a number of Chinese investors about…

Agreement Paves Way for South African Offshore Supply Base

(left to right – Alan Winde, Minister of Economic Opportunities in the Western Cape; Jeffrey Phang, Managing Director of Saldehco; Eric Hennet, Managing Director of Altus France (back); Sophie Masipa, Chairperson of Saldehco; Siyabonga Gama, Transnet Group Chief Executive; Mlamuli Buthelezi, Transnet Group Chief Operating Officer (back); Shulami Qalinge, Transnet National Ports Authority Chief Executive; and Alderman Marius Koen, Executive Mayor of Saldanha Bay Municipality (Photo: TNPA)

South Africa’s first dedicated and customized facility supporting offshore oil and gas activities will be introduced at the Port of Saldanha. This follows the conclusion of an agreement between Transnet National Ports Authority (TNPA) and Saldehco Pty Ltd, which was signed off at an official ceremony at the port on Monday…

Subsea Infrastructure: Challenges & Solutions

FMC clamp

As offshore oil and gas reserves become ever more difficult and costly to recover, the demand for innovative technology has never been greater. Joe Orrell, managing director at RED Engineering, considers some of the challenges in subsea infrastructure design and the role of fast track engineering solutions.

Trelleborg Solutions for FLNG Ship-to-Shore System

Photo: Trelleborg

Trelleborg has hailed the recent test of the Universal Transfer System (UTS) conducted with Connect LNG and Gas Natural Fenosa, as tangible evidence of the new applications that its suite of products for jettyless LNG transfer can unlock in this challenging field. The UTS transferred LNG…

Gangway Innovation Allows Safer Transfer at Offshore Wind Farms

Photo: Ampelmann

Ampelmann has created, in cooperation with Seaway Heavy Lifting, an industry first innovation allowing workers safe and efficient access to install the jackets for 84 wind turbines on the Beatrice Offshore Windfarm Limited project in the Outer Moray Firth. Global offshore contractor Seaway…

Venezuela Bondholders Mull Alliances

Holders of Venezuelan bonds are meeting with each other and considering forming committees, advisers and fund managers told Reuters, as questions mount about the feasibility of President Nicolas Maduro's proposal to restructure $60 billion of debt. Maduro has said the country will keep servicing its obligations for now.

China regulator still plans oil futures

China's top securities regulator is still preparing to launch oil futures and is considering lifting restrictions on stock index futures imposed during the 2015 stock market crash, the Shanghai Securities Times said on Saturday. The newspaper report cited an internal meeting at the China Securities Regulatory Commission (CSRC) held by its chairman…

Corvus Delivers for Hybrid Port Equipment

Photo: Corvus Energy

Corvus Energy will provide newly-designed lithium-ion energy storage systems (ESS) for a hybrid rubber-tired gantry crane (RTG) designed by CCCC Shanghai Equipment Engineering (CCCCSEE). The new ESS solution from Corvus is a smaller, ultra high power, liquid cooled system designed specifically to meet the RTG power requirements more cost effectively.

Oil, Equities, Emerging Markets End Year on Upbeat

Oil prices edged down on Friday but headed for their biggest annual percentage rise since 2009, with world stocks also up nearly 6 percent over the year despite concerns over China's slowing growth and weakening currency. Global markets have fared surprisingly well in a year marked by major political shocks…

OPEC Makes Last-ditch Bid to Save Oil Deal as Tensions Grow

OPEC was trying on Monday to rescue a deal to limit oil output as tensions grew among the producer group and non-OPEC member Russia, with top exporter Saudi Arabia saying markets would rebalance even without an agreement. A gathering of OPEC experts failed to reach a compromise on how exactly…

OPEC Tensions Grow as Oil Deal hopes Fade

Analysts predict sharp drop in oil prices if no deal. OPEC was trying on Monday to rescue a deal to limit oil output as tensions grew among the producer group and non-OPEC member Russia, with top exporter Saudi Arabia saying markets would rebalance even without an agreement. OPEC experts…

Police Fire Water Cannon at Dakota Pipeline Protesters in Freezing Weather

Police fired tear gas and water at hundreds of protesters in North Dakota opposed to an oil pipeline in freezing weather late Sunday and early Monday, in the latest violent clash between law enforcement and activists over the $3.7 billion project. A joint statement from several activist groups…

Japan Commodity Exchange Halts as Heavy Trading Overwhelms

The Tokyo Commodity Exchange (TOCOM) has twice halted trading since early Thursday morning, with at least one of the interruptions caused by heavy trading orders following Donald Trump's surprise U.S. presidential election victory. The exchange - which trades gold, crude oil and rubber, among…

Four killed in Eastern India during Coal Mine Protest

NTPC Coal Projects Image NTPC

Four people died in eastern India when police opened fire during clashes with villagers who allege state-run NTPC Ltd violate forestry rights and does not offer enough compensation when acquiring land for a coal mining site. Senior police officer M.S. Bhatia said the deaths occurred after…

Miko Launches Emergency Pipe Repair Kit

A high pressure leak being closed with a Miko Pipe Sealer kit (Photo: Miko)

A kit that can be used to seal leaks in high pressure pipes has been developed by Miko Marine in response to a specific request from St1 in Norway. Detailed study by Miko has resulted in a system that uses specially formulated rubber patches that are slid over a leak and held in place by ratchet straps.

Avalos Joins Reactive Downhole Tools

Stacey Avalos Reactive Downhole Tools

Reactive Downhole Tools, supplier of lower completion systems to the global oil and gas industry, has marked its fourth year of trading with the appointment of a business development manager for the North America region. Stacey Avalos joins the management team and will be based at Reactive’s 30…

Q&A: Key Facts about the Doha Oil Meeting Collapse

A deal to freeze oil output by OPEC and non-OPEC producers fell apart on Sunday, leading to a steep drop in oil prices towards $40 on Monday. WHAT WERE THE DOHA TALKS TRYING TO ACHIEVE? Some 18 oil nations including OPEC's leader Saudi Arabia and top non-OPEC producer Russia had been expected…

Oil Slides as Freeze Deal Falters

Deeper oil glut feared as producers fight for market share; Oil rout to have broader economic impact. Oil prices slid on Monday after a meeting between major producing nations on a proposed output freeze fell apart, leaving the world grappling with an excess of unwanted crude. The some 18 oil exporting nations…