***This article originally appears in the March 2018 edition of The American Oil & Gas Reporter. To view the original, please click here.
***This article originally appears in the Spring 2018 edition of Storage Terminals magazine. For more articles, visit http://www.storageterminalsmag.com/ and subscribe.
***This article was written by Martyn Wingrove for TankerShipping.com on Dec 6, 2017. To see the original, please click HERE.
***This article was written by Oceaneering's Robert Kessler, Maritime Program Manager of Global Data Solutions, for the November 2017 Exclusive Story on The American Oil & Gas Reporter.
High bids by major oil producers in a recent Gulf of Mexico offshore auction point toward a resurgence of interest in deepwater exploration. This year’s bids totaled $121 million—nearly a seven-fold increase over the bids on the Outer Continental Shelf auctioned last summer by the Bureau of Ocean Energy Management (BOEM).
With the increase in America’s production and export of natural gas, some industry experts warn of bigger traffic jams among tankers at the busiest ports in the Gulf. The congestion is not exactly on par with an LA freeway at rush hour, but sizable enough to cause costly delays.
Early Saturday morning, a US destroyer, the USS Fitzgerald, was hit by a container ship just off the coast of Shimoda, Japan. The collision claimed the lives of seven US Navy Sailors. In the aftermath of this tragedy, both sides are trying to figure out exactly what happened.
In Vienna on May 25, members of the Organization of the Petroleum Exporting Countries (OPEC) and its allies — including Russia — agreed to extend their cutbacks in oil production in hopes of addressing the glut of oil that’s been keeping down the price-per-barrel.