"The four onshore reserve bases have been fully filled, so we need to invest urgently in floating storage," Li told on the sidelines of the country's annual parliament. China is accelerating the build-up of its oil reserves to avoid the economic dislocations the country suffered in 2008 from fluctuations in the world oil price. China's National Energy Administration (NEA) recently released a plan to build nine large refining bases in coastal areas over the next three years, sources with the China Petroleum and Chemical Industry Association said last week. The plan involves building three 30-million-ton refinery bases in three cities (Shanghai, Ningbo and Nanjing) in China's economically dynamic Yangtze Delta and six 20-million-ton bases in other coastal areas from Tianjin in the north to Guangzhou in the south. It will also facilitate major joint-venture refinery projects between Chinese companies and partners from oil-producing countries such as Venezuela, Qatar and Russia.
Tuesday, March 10, 2009
Beijing urged to use tankers for oil storage
Beijing: China Shipping (Group) Co President Li Shaode told on Monday that he had proposed that the government use some of its foreign exchange reserves on floating oil storage because the onshore tanks were full.
"The four onshore reserve bases have been fully filled, so we need to invest urgently in floating storage," Li told on the sidelines of the country's annual parliament. China is accelerating the build-up of its oil reserves to avoid the economic dislocations the country suffered in 2008 from fluctuations in the world oil price. China's National Energy Administration (NEA) recently released a plan to build nine large refining bases in coastal areas over the next three years, sources with the China Petroleum and Chemical Industry Association said last week. The plan involves building three 30-million-ton refinery bases in three cities (Shanghai, Ningbo and Nanjing) in China's economically dynamic Yangtze Delta and six 20-million-ton bases in other coastal areas from Tianjin in the north to Guangzhou in the south. It will also facilitate major joint-venture refinery projects between Chinese companies and partners from oil-producing countries such as Venezuela, Qatar and Russia.Read More
"The four onshore reserve bases have been fully filled, so we need to invest urgently in floating storage," Li told on the sidelines of the country's annual parliament. China is accelerating the build-up of its oil reserves to avoid the economic dislocations the country suffered in 2008 from fluctuations in the world oil price. China's National Energy Administration (NEA) recently released a plan to build nine large refining bases in coastal areas over the next three years, sources with the China Petroleum and Chemical Industry Association said last week. The plan involves building three 30-million-ton refinery bases in three cities (Shanghai, Ningbo and Nanjing) in China's economically dynamic Yangtze Delta and six 20-million-ton bases in other coastal areas from Tianjin in the north to Guangzhou in the south. It will also facilitate major joint-venture refinery projects between Chinese companies and partners from oil-producing countries such as Venezuela, Qatar and Russia.
Registered ships in China reach 96 million GT in 2008
In 2008, China had 250,000 ships registered, at 96 million gross tons, of which 20,925 were ocean ships, weighing 44 million tonnes; the other 230,000 ships, serving on rivers, totalled 52 million tonnes.
As of the end of 2008, there were 198 international shipping companies and 1,118 domestic companies, all with valid certificates; while there were 1,420 international ships and 6,183 domestic ships, all with valid safety management certificates. Liu Gongchen, Deputy Director of the Maritime Safety Administration, Ministry of Transport, said China's unified registration system had recorded a total of 133,392 ship registrations last year, which results in the sum of 250,000 ships registered in China.Read More
As of the end of 2008, there were 198 international shipping companies and 1,118 domestic companies, all with valid certificates; while there were 1,420 international ships and 6,183 domestic ships, all with valid safety management certificates. Liu Gongchen, Deputy Director of the Maritime Safety Administration, Ministry of Transport, said China's unified registration system had recorded a total of 133,392 ship registrations last year, which results in the sum of 250,000 ships registered in China.
New Discovery near Existing Infrastructure
Oil and gas have been encountered by StatoilHydro in the Katla prospect, 11 kilometres south-west of the Oseberg South platform operated by the group in the Norwegian North Sea.
Proven recoverable volumes are 50-80 million barrels of oil equivalent, with the bulk of the resources occupying the Tarbert formation in the upper Brent group. Oil and gas were found in this structure, while gas was also proven in Upper Jurassic reservoir rocks belonging to the Heather formation. “We’ve had great success with exploration close to producing fields over the past year,” said Tove Stuhr Sjøblom, head of exploration for the Norwegian continental shelf. “This is another discovery which confirms that it’s still possible to find relatively large volumes of oil and gas in established areas such as Oseberg.” The find will probably be developed and produced through a tie-in to one of the existing subsea installations in this part of the North Sea. “Given that it lies close to an existing field and can quickly be brought on stream, this is a very interesting volume,” said Tom Dreyer, head of North Sea infrastructure-led exploration.Read More
Proven recoverable volumes are 50-80 million barrels of oil equivalent, with the bulk of the resources occupying the Tarbert formation in the upper Brent group. Oil and gas were found in this structure, while gas was also proven in Upper Jurassic reservoir rocks belonging to the Heather formation. “We’ve had great success with exploration close to producing fields over the past year,” said Tove Stuhr Sjøblom, head of exploration for the Norwegian continental shelf. “This is another discovery which confirms that it’s still possible to find relatively large volumes of oil and gas in established areas such as Oseberg.” The find will probably be developed and produced through a tie-in to one of the existing subsea installations in this part of the North Sea. “Given that it lies close to an existing field and can quickly be brought on stream, this is a very interesting volume,” said Tom Dreyer, head of North Sea infrastructure-led exploration.
Oil tanker strikes sunken jackup in U.S. Gulf
Texas: Norwegian oil tanker SKS Satilla was damaged after striking the sunken hull of Ensco International jackup ENSCO 74 on Mar. 6, 65 miles (104 km) south of Galveston.
The jackup was submerged in 115 feet (35 m) of water. The 900-foot tanker was damaged along the port side of its hull below the water line, taking in water in its ballast tanks. The tanker, which has around 39.9 million gallons of crude oil on board, has been stabilized, and the U.S. Coast Guard has begun lightening operations. The Coast Guard expects the oil to be offloaded by Tuesday. No injuries or oil spills were recorded. An ROV operated by SMIT Salvage retraced the SKS Satilla's course to find what caused the damaged and discovered jackup ENSCO 74. The rig was lost and presumed sunk after Hurricane Ike in September 2008. At the time of storm, the rig had been located in around 230 feet (70 m) of water 92 miles (148 km) from shore in South Marsh Island Block 149. ENSCO conducted aerial and sonar reconnaissance following the storm but failed to locate the rig. The jackup's position has been marked by a buoy to prevent additional accidents and mark it for salvage in the future. Ensco maintains insurance policies for removal of wreckage and debris. Ensco also maintains liability policies which it believes will provide coverage for losses resulting from the incident for which Ensco may have responsibility, including any environmental issues, subject to a US$10 million self-insured retention.Read More
The jackup was submerged in 115 feet (35 m) of water. The 900-foot tanker was damaged along the port side of its hull below the water line, taking in water in its ballast tanks. The tanker, which has around 39.9 million gallons of crude oil on board, has been stabilized, and the U.S. Coast Guard has begun lightening operations. The Coast Guard expects the oil to be offloaded by Tuesday. No injuries or oil spills were recorded. An ROV operated by SMIT Salvage retraced the SKS Satilla's course to find what caused the damaged and discovered jackup ENSCO 74. The rig was lost and presumed sunk after Hurricane Ike in September 2008. At the time of storm, the rig had been located in around 230 feet (70 m) of water 92 miles (148 km) from shore in South Marsh Island Block 149. ENSCO conducted aerial and sonar reconnaissance following the storm but failed to locate the rig. The jackup's position has been marked by a buoy to prevent additional accidents and mark it for salvage in the future. Ensco maintains insurance policies for removal of wreckage and debris. Ensco also maintains liability policies which it believes will provide coverage for losses resulting from the incident for which Ensco may have responsibility, including any environmental issues, subject to a US$10 million self-insured retention.
Sixteen sailors missing after ships collide off Japan
Tokyo - Seven South Korean and nine Indonesian sailors are missing after two commercial ships collided off Japan, the Japan Coast Guard said.
The South Korean-flagged Orchid Pia and Panamanian-flagged Cygnus Ace, collided at about 2:15 am (1715 GMT Monday) in waters off Izu Oshima Island, roughly 120 kilometres (75 miles) south of Tokyo, the coast guard said. The 10,833-tonne Cygnus Ace immediately reported the incident to the coast guard and said its radar was not able to locate the South Korean vessel. The 4,255-tonne-Orchid Pia has not responded to radio signals from the coast guard, which has launched six patrol vessels and two planes to search the freighter. The ship, carrying 16 crew members and 5,051 tons of steel coils, was traveling from the port of Kashima in eastern Japan to South Korea, the coast guard said. ‘It is possible that Orchid Pia sunk,’ a coast guard official said. ‘We found an empty raft in the area waters, but so far we are continuing the search for the missing individuals,’ he said.Read More
The South Korean-flagged Orchid Pia and Panamanian-flagged Cygnus Ace, collided at about 2:15 am (1715 GMT Monday) in waters off Izu Oshima Island, roughly 120 kilometres (75 miles) south of Tokyo, the coast guard said. The 10,833-tonne Cygnus Ace immediately reported the incident to the coast guard and said its radar was not able to locate the South Korean vessel. The 4,255-tonne-Orchid Pia has not responded to radio signals from the coast guard, which has launched six patrol vessels and two planes to search the freighter. The ship, carrying 16 crew members and 5,051 tons of steel coils, was traveling from the port of Kashima in eastern Japan to South Korea, the coast guard said. ‘It is possible that Orchid Pia sunk,’ a coast guard official said. ‘We found an empty raft in the area waters, but so far we are continuing the search for the missing individuals,’ he said.
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