Beijing signs $25bn oil deal with Russia

Beijing signed a deal with Moscow to lend $25 billion to two Russian oil firms, which in turn will sell 15 million tons of crude oil a year to China for the next 20 years.

The agreement will ensure the long-awaited extension of Russia's Siberia-Pacific coast pipeline to China, too. The pipeline project, agreed on late last year, will see the extension of the pipeline from the Siberian city of Skovorodino, 70 km north of the Sino-Russian border, to China. China will lend $15 billion to Russia's state-owned oil firm Rosneft and $10 billion to pipeline monopoly Transneft. China Development Bank (CDB) provided the credit for the deal, according to the Associated Press (AP). The Russian firms, on the other hand, will ensure China gets 300,000 barrels of crude a day for 20 years. China and Russia signed seven agreements on energy cooperation package programs. The $25-billion deal is seen as a boost to Russian energy firms because the global financial crisis and a drastic drop in the crude prices have left them struggling to raise capital. The agreement was signed by Vice-Premier Wang Qishan and Russian Deputy Prime Minister Igor Sechin in Beijing at the third round of energy talks between the two countries.

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Mitsubishi Engines for Chem Carrier

Chem Carriers, the Sunshine, Louisiana-based cargo carrier, once again chose Mitsubishi engines for its new M/V Dorella Banta.

The 70 ft x 28 ft x 10 ft, 131-ton towboat was built by Rodriguez Boat Builders. The twin engines, supplied by Laborde, are Mitsubishi S12A2 series rated at 850 hp at 1,940 rpm. The 12-cylinder, 34-liter engines are EPA compliant. The vessel is equipped with 7:1 reduction gears, allowing the engines to turn 75 inch x 73 inch four-blade stainless steel propellers in a 76 inch Type 19A Kort Nozzel. Founded in 1994, Chem Carriers operates 27 barges and 6 towboats carrying chemicals such as caustic soda. For more than 25 years, Laborde Products has served the Gulf Coast region by distributing Mitsubishi, Yanmar and Hatz diesel engines, as well as FPT/Iveco gensets. The company packages its own diesel-powered generators, pumps, pressure washers and other custom diesel equipment.

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Petrobras' oil production hits record

Petrobras' oil production in Brazil reached a monthly record in January, the company said, even as a global financial crisis hurt demand for commodities and knocked oil prices lower.

Petrobras produced 1.923 million barrels per day in January, a 5.3% rise compared to last January and up 2.5% from volumes in December last year. But the company said natural gas production in Brazil was 47.09 million cubic metres a day in January, 5.2 million cubic metres less than in December last year. Petrobras' average oil and gas production in Brazil reached 2.21 million barrels per day in January, a 4.8% rise on production last in January and a 0.7% increase last December. Total oil and natural gas production in Brazil and abroad reached a daily average of 2.43 million barrels in January, a 3.8% rise on January last year and the same as last December.

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Guangzhou Panyu Lingshan delivers 'Putra Jaya Singosari' AHTS

Following a well-established relation, the Guangzhou Panyu Lingshan Shipyard, China, has recently delivered another anchor handling tug designed by Singapore’s Khiam Chuan Marine.

With a 40-metre length overall and a length at the waterline of 37.8 metres, the ‘Putra Jaya Singosari’ is registered in Kota Kinabalu, Sabah, Malaysia. The hull’s 11.8-metre moulded beam and 4.6-metre moulded depth provide tankage for 305 tonnes of fuel oil and 170 tonnes of fresh water. Accommodation is provided for up to 22 crewmembers. The wheelhouse has both forward and aft facing command stations. The aft station overlooks the deck with a single drum towing winch and a starboard side tugger winch. Main propulsion power is provided by a pair of Cummins KTA38-M2, each of which is rated for 895kW continuous duty at 1,800rpm. The 1,790kW driving nozzle propellers gives the boat a speed of eleven knots and a 28-tonne bollard pull. The portside main engine is fitted with a front-end power take off to power the two fire fighting monitors mounted on a bridge over the two exhaust stacks.

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