Releases
Announcements, partnerships, and product updates from Blackwell.
Industry News
Headlines from across the maritime and offshore energy industry.
ConocoPhillips Starts Production at New Alaska Oil Project
ConocoPhillips has started production at its Coyote 3SX project on the Alaska North Slope, adding up to 12,000 barrels per day after completing the development ahead of schedule and under its roughly 800 million dollar budget.
Source: Rigzone
BP, XRG, and UCC on 4 tcf Venezuelan gas quest as offshore development gathers pace
BP, XRG, and UCC Oil and Gas Holding secured equal stakes in the Venezuelan Loran Phase 2 license, with BP as operator. The project targets an estimated 4 trillion cubic feet of recoverable offshore gas and is expected to advance alongside Phase 1.
Source: Offshore Energy
Container Rates Extend Gains as Carriers Tighten Transpacific Capacity
Drewry’s World Container Index rose 1% to $4,339 per 40 foot container as carriers cut transpacific capacity. Rates from Shanghai to New York climbed 10% to $8,706, while weaker Asia to Europe demand pushed Mediterranean and North Europe lanes lower.
Source: gCaptain
Golar LNG accelerates FLNG expansion with new 2.45 billion dollar order
Golar LNG has ordered its fourth floating LNG unit under a 2.45 billion dollar contract with CIMC Raffles. The 3.5 million tonne per year vessel is due from the shipyard by the end of 2029 and would lift Golar controlled capacity above 12 million tonnes per year.
Source: Offshore Energy
Nigeria’s new tax breaks put $50 billion deepwater oil and gas projects back in play
Nigeria approved a deepwater investment framework aimed at reviving up to $50 billion in delayed oil and gas projects, starting with the roughly $10 billion Bonga South West development.
Source: Offshore Energy
Ship Pays $4 Million to Cut the Line at Panama Canal
The container ship Seaspan Benefactor paid $4 million at auction to jump the Panama Canal queue, more than double the prior week average, as wait times stretch beyond a week and Neo Panamax drafts tighten.
Source: Bloomberg
Eni Farms Into APA Block Offshore Uruguay Ahead of 2027 Exploration Well
Eni is farming into APA Corporation OFF-6 block offshore Uruguay, with APA keeping a 60% working interest while Eni funds most of the first exploration well planned for 2027.
Source: Offshore Energy
Australia Unions Push On With Strike At BHP Port Hedland
Workers at BHP Port Hedland began a two day strike that includes a 24 hour ship loading ban, testing operations at the world’s largest iron ore export hub. BHP said vessels were still loading, while unions continue talks over a new pay agreement.
Source: Reuters
Saipem confirms preliminary award as 30 billion dollar Mozambique LNG project nears FID
Saipem signed a 32 million dollar preliminary engineering and procurement letter for ExxonMobil led Rovuma LNG in Mozambique, a 30 billion dollar project moving toward a 2026 investment decision. The planned plant would have capacity of 18.6 million tonnes a year.
Source: Offshore Energy
UAE’s Adnoc Buys $1.3 Billion of Tankers as Oil Exports Boom
ADNOC spent $1.3 billion to expand its tanker fleet, taking its Very Large Crude Carrier count to 14 as the UAE prepares for higher crude exports after leaving OPEC.
Source: Bloomberg
Transpacific Container Rates Rally as Europe’s Peak Season Fades
Container spot rates rose on both United States coasts as cargo volumes held firm and congestion in central and south China restricted capacity, while European trades continued to soften.
Source: The Loadstar
Panama Canal to Tighten Draft Limits Again as Water Levels Continue to Fall
The Panama Canal Authority will cut the maximum authorized draft for Neopanamax vessels to 48.0 feet on August 26 and 47.5 feet on September 3 as Gatun Lake levels decline amid a strengthening El Niño.
Source: gCaptain