Hashtag: #OilAndEnergy
Bermuda Fuel Prices Adjusted, Effective Monday
The Ministry of Finance has announced that with effect from Monday [Sept 16] the maximum prices of petroleum products change as follows: Gasoline – 5. 8 cents/litre Diesel + 4. 0 cents/litre Kerosene + 4. 0 cents/litre As a consequence the maximum retail prices displayed on the pumps for petroleum products are as follows: Gasoline 205.40 cents/litre Diesel... Read more of this article
Fuel Prices Reduced Effective Friday, August 16
The Ministry of Finance announced that effective last Friday [Aug 16], prices for petroleum products in Bermuda were reduced, with gasoline dropping -2.9 cents/litre, diesel down -1.6 cents/litre and kerosene reduced by –1.4 cents/litre. As a result the maximum retail prices which can be displayed on pumps for petroleum products are: Gasoline 211.20... Read more of this article
Oil Insurance Approves $100M Premium Credit
The Board of Directors of Oil Insurance Limited, at the July 2013 Board Meeting, approved a $100 million premium credit for current [2013] Shareholders, who were shareholders of record on December 31, 2012. This credit will approximate a 16% reduction in total premium charged to the membership during 2013. Members will see the premium credit in their... Read more of this article
Teekay Offshore Partners Reports Q2 Results
Bermuda-based Teekay Offshore GP LLC, the general partner of Teekay Offshore Partners L.P. reported the Partnership’s results for the quarter ended June 30, 2013. During the second quarter of 2013, the Partnership generated distributable cash flow of $43.0 million, compared to $54.2 million in the same period of the prior year. On July 12, 2013,... Read more of this article
Seadrill Orders Two Jack-ups For 2016
Bermuda-headquartered Seadrill Limited has entered into new contracts for the construction of two high specification jack-up drilling rigs at Dalian Shipbuilding Industry Offshore Co., Ltd. [DSIC Offshore] in China. The newbuild rigs are scheduled for delivery during the second and third quarters of 2016, and the total project price per rig is approximately... Read more of this article
Teekay Exercises Options For New LNG Carriers
Teekay LNG Partners L.P. — which is headquartered in Bermuda — has exercised two of its three existing options with Daewoo Shipbuilding & Marine Engineering Co., Ltd., of South Korea for the construction of two 173,400 cubic meter liquefied natural gas [LNG] carrier newbuildings for delivery in 2016. These two newbuilding LNG carriers are in... Read more of this article
Photos: St David’s Variety Prepare To Sell Fuel
St David’s Variety is in the midst of upgrading their property in order to sell fuel in the upcoming future which will see fuel pumps installed for both road users and boats arriving at their attached marina. The business was opened by its new owners in 2011 with plans to re-establish fuel supply to the St David’s community. A lease was... Read more of this article
OIL Insurance Welcomes Four New Members
Bermuda-based Oil Insurance Limited announced the signing of four new energy companies as members through the first seven months of 2013. They are Alon USA Energy, Inc, Anadarko Petroleum Corporation, Arena Energy, LP and Cenovus Energy Inc. COO George Hutchings commented, “Interest in OIL by energy companies from around the globe continues to... Read more of this article
Seadrill Orders Four Ultra-Deepwater Drillships
Bermuda-headquartered Seadrill has entered into turnkey contracts to build four new ultra-deepwater drillships. Two drillships will be built at the DSME yard and the other two at the Samsung yard, in South Korea. The project value price is estimated to be below US$600 million per unit [including project management, drilling and handling tools, spares,... Read more of this article
Gulf Keystone Gets Approval For Shaikan Plan
Bermuda-registered Gulf Keystone, an independent oil and gas exploration and production company with operations in the Kurdistan Region of Iraq, announced that its Field Development Plan for the Shaikan field, a world class commercial discovery, is now approved. Todd F. Kozel, Chairman and CEO of Gulf Keystone, commented: “This is an historic... Read more of this article
Nordic American Holds Annual General Meeting
Nordic American Tankers Limited held its 2013 annual general meeting in Bermuda on June 25. Incorporated in Bermuda in 1995, the firmengages in acquiring and chartering double-hull tankers. Its fleet consists of 20 double-hull Suezmax tankers The following resolutions were approved at the annual general meeting: All of the nominees of the board of... Read more of this article
Seadrill In $2.7 Billion Deal With Brazilian Firm
Seadrill Limited and SapuraKencana Petroleum Berhad this week [June 28] announced that their jointly owned entity, Sapura Navegação Marítima S.A., Brazil [SNM] has been awarded a contract from Brazilian multinational energy corporation Petróleo Brasileiro S.A. to charter and operate three pipe-laying support vessels [PLSVs]. The contract is for... Read more of this article
