Brazil Oil Finds May End Reliance on Middle East, Zeihan Says

By Joe Carroll

April 24 (Bloomberg) -- Brazil's discoveries of what may be two of the world's three biggest oil finds in the past 30 years could help end the Western Hemisphere's reliance on Middle East crude, Strategic Forecasting Inc. said.

Saudi Arabia's influence as the biggest oil exporter would wane if the fields are as big as advertised, and China and India would become dominant buyers of Persian Gulf oil, said Peter Zeihan, vice president of analysis at Strategic Forecasting in Austin, Texas. Zeihan's firm, which consults for companies and governments around the world, was described in a 2001 Barron's article as ``the shadow CIA.''

Brazil may be pumping ``several million'' barrels of crude daily by 2020, vaulting the nation into the ranks of the world's seven biggest producers, Zeihan said in a telephone interview. The U.S. Navy's presence in the Persian Gulf and adjacent waters would be reduced, leaving the region exposed to more conflict, he said.

``We could see that world becoming a very violent one,'' said Zeihan, former chief of Middle East and East Asia analysis for Strategic Forecasting. ``If the United States isn't getting any crude from the Gulf, what benefit does it have in policing the Gulf anymore? All of the geopolitical flux that wracks that region regularly suddenly isn't our problem.''

Tupi and Carioca

Brazil's state-controlled Petroleo Brasileiro SA in November said the offshore Tupi field may hold 8 billion barrels of recoverable crude. Among discoveries in the past 30 years, only the 15-billion-barrel Kashagan field in Kazakhstan is larger.

Haroldo Lima, director of the country's oil agency, last week said another subsea field, Carioca, may have 33 billion barrels of oil. That would be the third biggest field in history, behind only the Ghawar field in Saudi Arabia and Burgan in Kuwait.

Analysts Mark Flannery of Credit Suisse Group and Gustavo Gattass of UBS AG challenge the estimate for Carioca. Lima, the Brazilian oil agency director, later attributed the figure to a magazine.

Flannery told clients during an April 16 conference call that 600 million barrels is a ``reasonable'' estimate and suggested Lima may have been referring to the entire geologic formation to which Carioca belongs.

Supply Boost

Carioca is one of seven fields identified so far in the BM- S-9 exploration area, part of a formation called Sugar Loaf.

If additional drilling by Petrobras, as Petroleo Brasileiro is known, confirms the Tupi and Carioca estimates, the fields together would contain enough oil to supply every refinery on the U.S. Gulf Coast for 15 years. Petrobras said it needs at least three months to determine how much crude Carioca may hold.

Zeihan said that beyond supply gains from Brazil, it will take a tripling of Canadian oil-sands output and greater fuel efficiency to end Western reliance on Middle East oil.

The U.S. imports about 10 million barrels of oil a day, or 66 percent of its needs, according to the Energy Department in Washington. Saudi Arabia was the second-largest supplier in January, behind Canada.

Persian Gulf nations accounted for 23 percent of U.S. imports, compared with Brazil's 1.7 percent share. Brazilian crude output rose 1.9 percent last year to 2.14 million barrels, according to the International Energy Agency.

``Hemispheric energy independence sounds a little pie-in- the-sky given that this hemisphere already is generating one- third of overall global demand,'' said Jason Gammel, an oil analyst at Macquarie Bank Ltd. in New York. ``It's pretty tough to talk about self-sufficiency unless we were to see food-based biofuels taking an even bigger role in the next five to 10 years than is already mandated.''

Offshore Fields

Zeihan predicts a 2012 start to production at Tupi. Technology needed to tap fields like Tupi, which sit hundreds of miles offshore beneath thousands of feet of rock, sand and salt, hasn't been developed, he said.

Petrobras, Chevron Corp., Royal Dutch Shell Plc and Norsk Hydro ASA plan to start pumping oil from eight Brazilian fields in the next 2 1/2 years that will produce a combined 1.02 million barrels a day, enough to supply two-thirds of the crude used by U.S. East Coast refineries.

More discoveries will follow in Brazil's offshore basins, most of which have yet to be opened to exploration, Zeihan said. Repsol YPF SA, Exxon Mobil Corp. and Devon Energy Corp. are among the producers scouring Brazil's waters for reserves.

``The finds they've got so far are just the tip of the iceberg,'' Zeihan said. ``Brazil is going to change the balance of the global oil markets, and Petrobras will become a geopolitical supermajor.''

To contact the reporter on this story: Joe Carroll in Chicago

this stock being held down??????????????????

Marine technology Reporter - May 2007File Format: PDF/Adobe Acrobat - View as HTML
May 14, 2007 ... Engineering Division of the Engineering Department at the Naval Ocean ..... Fred Maguire, Sales Manager. Phone: 208-28-27749 ...
www.mtronline.net/MTIssues/mt200705o2.pdf - Similar pages

[PDF] History of the Offshore Oil and Gas Industry in Southern LouisianaFile Format: PDF/Adobe Acrobat
The second volume of the report is Thomas McGuire’s Bayou Lafourche: An Oral History of ...... qualified naval engineers aboard while they were under tow. ...
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water buoyancy systems, has announced the appointment. of Fred Maguire to ... Steve, a Tulane Engineering alumnus, comes to us from. the U. S. Navy where he ...
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Designer of Transatlantic Speed Record Holder Joins STI on Navy project



Destriero (Italian for steed) at full gallop

The designer of the jet-powered yacht that holds the transatlantic speed record has joined the Solomon Technologies team developing hybrid-electric drive for the seven-meter Navy Zodiac. Donald L. Blount and Associates (DLBA) designed the 220 ft Destriero, an all-aluminum yacht that covered the 3,106 miles from New York's Ambrose Point Light to England's Bishop Rock Lighthouse in 55 hours without refueling.

Averaging 53 knots for the entire trip, the sleek luxury yacht is capable of top speeds over 65 knots.
"Needless to say, this is a major addition to our design team," says Solomon Technologies CEO David Tether. "DLBA will help us select the best drive type for the electric Zodiac – whether it's a standard submerged propeller, outdrive, tunnel drive or something else. They have the engineering expertise to make precise predictions of the exact drive required for specific conditions based on the actual torque put out by our motors."

Navy SEALS in rigid-hull Zodiac

Clandestine missions
Officially known as the 7-meter rigid hull inflatable boat (RHIB), the fiberglass Zodiacs with the sausage-shaped flotation collars are used for everything from routine personnel ferrying operations to delivering Navy SEALS on clandestine assault missions. The Navy expects hybrid-electric drive to provide silent operation, reduced electromagnetic and thermal signatures and modular "plug and play" capability for replacing components to facilitate maintenance and adapt to changing mission profiles.
Following an inspection of our Benedict facility late last year by officials of the Office of Naval Research, we were asked to compete for a contract to design a hybrid-electric drive system for the boat. We won a Phase I design contract and, if our design is accepted, will receive a Phase II contract to build an operating prototype.




Model testing of Destriero's hull Extensive Navy experience
Our new partner DLBA has extensive experience designing naval vessels. Company founder Donald L. Blount is the former head of the Navy's Combatant Craft Engineering Department, which is responsible for the design, engineering and testing of all non-commissioned Navy craft.
Following his retirement in 1990, he started his own company in Chesapeake, Virginia, designing production vessels, high-speed power yachts and custom sportfishermen. DLBA's clients include Rybovich, Broward Marine, Jim Smith Boats, CMN of France, and Devonport Royal Dockyard Ltd. in the UK. Along with its design and engineering services, the company produces plugs and molds for composite builders. A seven-axis, dual-robotic, CNC machining system at the Chesapeake facility can mill full-size patterns up to 88 feet long.
Robots machining a hull plug

Besides Destriero, DLBA has designed a second, jet-powered luxury yacht, the 140-foot Fortuna. She's owned by the Spanish military and operated by King Juan Carlos. Fortuna can hit speeds "in excess of 68 knots," says Bill Blount, DLBA marketing director and son of the founder. "She's the fastest private yacht in the world."


New sportfishing yacht will resemble this Jim Smith beauty docked in the Bahamas - but with more stern tumblehome and 11' longer.
The company also has designed a 42 ft. "walkaround" Rybovich fishing boat for singer Jimmy Buffet. Christened Margaritavich, the shallow-draft vessel will take flycasting fan Buffet into the Florida Keys flats after bonefish.
A much larger DLBA fishing boat design now under construction for Jim Smith Boats may be the world's fastest cold-molded, sportfishing yacht. "Eighty feet is the cutoff from boats to yachts," says Blount, "and this one is 85." The king-size fishing vessel is expected to reach 43 knots.

Still with Navy
DLBA hasn't lost touch with the Navy either. It's working as a design subcontractor on Lockheed-Martin's version of the new Littoral Combat Ship, a high-speed vessel intended for fast-reaction, shallow-water warfare.
DLBA's contribution to the Solomon Technologies Navy project will be fundamentally the same as for all its clients, Blount says. "Essentially what we do is reduce the risk of the project."

Lockheed-Martin's LCS design

The key to a successful boat, he says, is proper weight distribution. "In this case, we're starting with an existing vessel, so we'll calculate its longitudinal center of gravity. That tells us where to place the components of the propulsion system." With proper weight distribution established, designers can select and size the exact propeller or jet drive configuration needed to get the boat up and over the bow-wave hump and onto plane with minimum energy expenditure.

Jumping the hump is key to planing Prop charts don't work
Until now, Solomon Technologies has had to determine prop diameter and pitch for its line of high-torque electric motors by trial and error. "The standard prop-size charts everybody uses for diesel and gasoline engines don't work with our motors," Dave Tether says. "Our 12 horsepower ST74 can turn a 20 by 18 prop that would choke a 50 horsepower diesel."

Common interest in the unconventional
The little Zodiac that DLBA will assist us with is a far cry from the sleek Destriero, whose topsides were styled by the legendary Ferrari designer Pininfarina. The record-setting vessel is driven by three massive jet pumps, with power supplied by three GE LM 1600 jet engines. But it was DLBA's experience with unconventional drive systems that led to the company's collaboration with STI.


DLBA hull plug ready for shipment on Intracoastal Waterway at Chesapeake VA


Silent electric drive is ideal
for clandestine missions.

"Designing a 220-foot yacht with jet propulsion powered by jet engines is about as revolutionary as you can get," Dave says. "And we think that in its own small way, our electric Zodiac will be equally revolutionary. There are still a lot of details to work out, but it's safe to say that our design will be radically different from anything ever seen in a planing powerboat."



FORWARD LOOKING STATEMENTS: This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The statements regarding Solomon Technologies, Inc. in this release that are not historical in nature, particularly those that utilize the terminology such as "may," "will," "should," "likely," "expects," "anticipates," "estimates," "believes," or "plans," or comparable terminology, are forward-looking statements based on current expectations about future events, which management has derived from the information currently available to it. It is possible that the assumptions made by management for purposes of such statements may not materialize. Actual results may differ materially from those projected or implied in any forward-looking statements. Important factors known to management that could cause forward-looking statements to turn out to be incorrect are identified and discussed from time to time in the company's filings with the Securities and Exchange Commission. The forward-looking statements contained in this release speak only as of the date hereof, and the company undertakes no obligation to correct or update any forward-looking statements, whether as a result of new information, future events or otherwise.


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by Scana Industrier ASA
Friday, May 02, 2008


Scana Industrier ASA and FPSOcean AS have agreed to establish a new company that will focus on developing technology and equipment for floating production units. This is a continuation of the ongoing jointly owned development of the DRB (Disconnectable Riser Buoy) turret and fluid transfer system.
The new company has furthermore signed an acquisition agreement with Blyth-Newcastle UK-based Flexible Engineered Solutions Limited (FES). The purchase price will be paid partly in cash and partly in shares issued by the new company and with a portion of the purchase price being subject to an earn-out model over a period of time.

FES is a recognized supplier of proven fluid transfer systems, FPSO turrets and other specialized equipment serving the international oil & gas industy. The FES technology will complement Scana/FPSOcean's patent-pending solutions. Scana's share of ownership in the new company will initially be above 50% and Scana will have the right to nominate the Chairman of the board. Closing of the transactions is subject to due diligence and final board approvals, and is expected to take place in June.

The ambition of the new company is to create a leading independent provider of equipment to the FPSO market and similar markets including floating LNG production units. The company will continue to utilize Scana technology and manufacturing capacity and will adopt current and future agreements with FPSOcean and other FPSO contractors. The parties expect significant international growth fueled by the access to FES market-position, technology and very capable engineering and project organization.

Publicly available information about the market-segment for floating production indicates a need for at least 15-20 new units per year over the next few years. The base resources for the new company will comprise parts of the company Scana AMT in Vestby including personnel, technical personnel from FPSOcean and all resources within FES. The new company will continue to be located in Vestby, Blyth-Newcastle and Oslo. The new company will at the time of establishment employ about 45 engineers and project management personnel and is expected to have an annual turnover of approximately NOK 300 million in the first full year of operations.

"It is a stated ambition for Scana to maximize shareholder values," said Rolf Roverud, CEO of Scana. "This joint venture combines the expertise, know-how and market references from FPSOcean, FES and Scana, and allows the new combined company to take the position as the leading independent technology partner for turret based systems to the rapidly growing FPSO market. At the same time Scana will become a strategic supplier of engineered components and metallurgic services to the new company. This combination will give the new company a competitive edge and a good basis for creating significant shareholder values."

Robert Anderson and Ian Latimer of FES comment: "The only two independent suppliers of turret-based solutions have joined forces in order to be able to serve the global market place. As a privately owned company FES considered several possible growth restrictions which should now be entirely replaced by significant growth opportunities. We are very exited to join Scana in this effort to build a new leading technology provider.

"FPSOcean is the pioneer customer deploying the DRB developed in co-operation with Scana. Our vision for deployment of disconnect able turret systems goes far beyond the ongoing delivery to our first DP FPSO 'DeeP Producer 1.'"

"By this strategic move FPSOcean will secure two paramount accomplishments. Firstly the establishment of a technology company that shall be the leading independent supplier of turrets and fluid transfer systems to the international oil and gas industry. This company will possess enabling technology to support our own growth ambition in the deepwater floating production segment. Secondly, we are creating value for our shareholders by the holding of a significant minority position in a company with a sound growth potential in a high margin industry," said Georg Sverdrup Onsrud, CEO of FPSOcean.

Scana Industrier's subsidiaries and Scana Offshore Vestby, in particular, will continue to provide equipment and services to the new company as well as existing customers within the oil and gas segment. Scana targets further growth through a wide range of products and services within the Oil and Gas business unit in general

StatoilHydro Cranks Out Quick Start Up At Oseberg Field

by StatoilHydro
Wednesday, April 16, 2008


Production from Gamma Main Statfjord on the Oseberg field in the North Sea has now commenced, only eighteen months after the oil deposit was proven.

"Gamma Main Statfjord is an important part of the further development of the Oseberg area and will contribute significantly to the production in the next few years. I am very pleased that the field is now on stream, only eighteen months after the discovery," says Morten Mikkelsen, acting head of operations for the Oseberg area.

The deposit in the Gamma Main structure in the Statfjord formation is one of several small-size discoveries to be put on stream in the Oseberg area in 2008 and 2009. They will in combination contribute significantly to increased StatoilHydro oil production.

Initially producing 13 000 oil barrels per day the production from Gamma Main Statfjord will drop after a couple of years. The well is expected to remain on stream for 15 years.

The drilling of an injector has just started. The injector will provide pressure support as the reservoir is being depleted.

Drilling in the area that has now come on stream was initially performed back in 1982. The potential was great, but the exploration well struck nothing but water. The G & G community has been eager to drill a new well in a different part of the structure since then.

When an injector was planed for the neighbouring Gamma West, the geophysicist Helge Rutledal seized the opportunity. He proposed that a sidetrack be drilled to determine the potential of the structure. And, deep down in the Statfjord formation the drill string struck an 84-metre thick isolated oil column.

The Gamma Main

Pemex Names Lakach A Big Gas Stash At 308 Bcf

by Kerry Laird Rigzone
Thursday, April 17, 2008


Amidst the mayhem of the controversial energy reform bill and the Mexican Leftists that have barricaded Congress, Petroleos Mexicanos (Pemex) announced 308 Bcf in natural gas reserves from a 2006 discovery at Lakach field.

The find is being hailed as the country's fourth-largest gas field. "Due to the size of the reserves discovered at Lakach, its development is an immediate option to contribute to increasing natural gas supplies," Pemex said on its web site.

Pemex said that the total estimated possible, probable and proven reserves of the field could be as high as 1.3 Tcf.

The Holok-Temoa compound in the Lakach field is part of Pemex's efforts to delve into ever-deeper waters in the Gulf of Mexico. Though Lakach is under 3,000 feet of water, Pemex is swinging behind the pitch in the GOM deepwater well game.

To put it in perspective, other major oil and gas operators in the Gulf of Mexico are performing under waters that are three-times as deep as the Lakach operations.

Pemex would receive a huge technical advantage in exploration and production efforts by teaming up with foreign big leaguers, yet the energy reform bill that would allow such leeway is currently pinned down to the floors of the Mexican Congress by the barricaded Leftists who have been holed up now for a week.

Still, Pemex is keeping its collective exploratory eyes on the salty sea horizon.

A slew of deepwater discoveries -- four to be exact -- in the deep waters of the Gulf of Mexico have given Pemex the confidence to put forth $300 million toward two new deepwater exploratory wells for 2008.

One year ago, Pemex announced that production from Lakach would begin around 2013. The initial well drilled at Lakach produced a flow rate of 25 to 30 Mcf/day

what going on 4-22,convention more sales and news release too

hey erj, i have talk to jared, and ask him for information, and brought alot of share. this company is real and growing

hey erj, i just email that infor to jared let see who bs who

Flotation Technologies Develops New Buoyancy Module for Tahiti Project

by Flotation Technologies
Wednesday, January 10, 2007


Flotation Technologies, Inc. has developed a new buoyancy module for use by Cameron on the Chevron Tahiti Field. Needing to relieve weight from the high-pressure jumpers while not increasing the potential for VIV (vortex-induced vibrations) Cameron contacted Flotation Technologies to develop a solution. The new Straked Buoyancy Module provides VIV suppression strakes as part of the module and an innovative inter-module locking system that provides a continuous helix once assembled. This unique design provides the buoyancy required for the operation of the jumpers while breaking the vortices and suppressing potentially destructive VIV.
"This project allows us to highlight what our company does best: engineer unique and effective solutions," commented Fred Maguire, Sales and Marketing Manager of Flotation Technologies. "Flotation Technologies has never been a company to provide a 'Me Too' or off-the-shelf product. We provide products that are designed to fit our customer's specific needs – a philosophy that can be traced back to our Founder, David Cook, who, in many ways, changed the course of the entire Offshore Oil industry with his pioneering work with syntactic foam in the early 60's."

Flotation Technologies, Inc. is a world leader in the engineering, design, and manufacturing of deepwater buoyancy systems using high-strength Flotecâ„¢ syntactic foams and polyurethane elastomers. Focused on the Offshore Oil, Oceanographic, Seismic and Government markets, Flotation Technologies delivers world class buoyancy products for a host of marine applications, such as distributed buoyancy for flexible pipes and umbilicals, drilling riser buoyancy modules, ROV buoyancy, QuickLocâ„¢ cable floats, Hardballâ„¢ umbilical floats, FLOTECTâ„¢ cable and pipeline protection, Inflexâ„¢ polymer bend restrictors, and installation buoyancy of any size and depth rating

WIRE)--Apr 16, 2008 -- Enzyme Environmental Solutions Inc. (Other OTC:EESO.PK - News) CEO S. Jared Hochstedler announced today that the company has completed all the testing for the EESO E-Commerce website and that the site will be activated by the morning of Thursday April 17, 2008.
Hochstedler commented, "It is with great pleasure to announce that we are launching our E-Commerce site. Keep checking our website (www.enzymeenvironmentalsolutions.com) for the link to our shopping cart. We will have at least a dozen products offered on this site with more being added in the near future. I am excited about the opportunity to make our products available worldwide to the general public. We believe this has the potential to bring significant sales to the company."

ADVERTISEMENT


Hochstedler further commented, "I would like to further clarify details of hazardous waste removal. Our proprietary formulation (GC 2000) will be a key element to scrap yards with their auto residue or what the industry refers to as 'fluff,' such as petroleum by-products, antifreeze and other related automotive fluids. Our GC 2000 process will take the waste by-products and further separate the hazardous materials from the non-hazardous. The non-hazardous materials can then be sold as fuel oil."

"This will also create an additional revenue stream by separating the hydrocarbons out. We are estimating to be able to process upward of 150 tons of waste an hour of auto residue (fluff). This process, once fully implemented, could generate revenues in excess of $100 million per year in the next several years. As I stated in an earlier release, I am very pleased with the results of the GC 2000 phase III trials and after seeing how well GC 2000 worked during the bench tests I feel confident that if it performs as well during the prototype phase as it has during the bench studies, GC 2000 could be ready to go to market on a mass scale by the end of the year," stated Hochstedler.

The company would also like to confirm that as of April 16, 2008 the outstanding share count remains at 223,716,398 common shares issued and outstanding.

This press release contains certain "forward-looking" statements, as defined in the United States Private Securities Litigation Reform Act of 1995 that involve a number of risks and uncertainties. Statements, which are not historical facts, are forward-looking statements. The Company, through its management, makes forward-looking public statements concerning it expected future operations, performance and other developments. Such forward-looking statements are necessarily estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no factors that could cause actual results to differ materially from those estimated by the Company. They include, but are not limited to, the Company's ability to develop operations, the Company's ability to consummate and complete the acquisition, the Company's access to future capital, the successful integration of acquired companies, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition, sales and other factors that may be identified from time to time in the Company's public announcements

February 5, 2008

Coast Guard Delivers $9 Billion Budget, $1.2 Billion For Recapitalization Efforts


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By Geoff Fein The Coast Guard has requested more than $9 billion dollars for its FY '09 budget that includes $1.2 billion for recapitalizing the service's fleet of vessels as well as improving command and control and intelligence gathering.

PETROLEUM ($/bbl)


PRICE* CHANGE % CHANGE TIME
Nymex Crude Future 113.43 1.67 1.49 08:23
Dated Brent Spot 110.99 1.50 1.37 08:54
WTI Cushing Spot 111.76 1.62 1.47 04/14

damm shorts

Underwater Microphones Can Gauge Hurricane Strength, MIT Says

By Jim Efstathiou Jr.

April 10 (Bloomberg) -- The destructive force of a hurricane approaching land can be measured by underwater acoustic sensors that cost far less than wind-gauging airplanes, researchers at Massachusetts Institute of Technology reported.

Wind speed calculations based on underwater microphones that captured Hurricane Gert's churning in the Atlantic in 1999 were as accurate as measurements taken a day later by an airplane, according to the report, which has been accepted for publication in the journal Geophysical Research Letters.

The microphones are so much cheaper to deploy that storm warning systems can be expanded in countries that can't afford airplanes, said Nicholas Makris, director of MIT's Laboratory for Undersea Remote Sensing and co-author of the report. The current warning system that uses airplanes saves about $2.5 billion a year in potential U.S. storm damage, he said.

``There's a lot of money that's already saved by having accurate warnings, and as you improve it's only going to get better,'' Makris said in an interview. ``The advantages are it's cheap, it's safe and it's relatively easy to do it.''

The best way to measure the strength of a hurricane today is to fly an airplane into the eye of the storm and take wind- speed measurements. Specialized hurricane planes cost about $100 million and a single flight's expenses are about $50,000.

Satellites track killer storms, but can't measure wind speed as accurately as aircraft, Makris said.

`Perfect Relationship'

Underwater sensors promise an alternative. The journal article described how microphones anchored 800 meters from the Atlantic sea floor off Puerto Rico captured sounds of Hurricane Gert that were translated into wind speeds as accurately as aircraft wind-speed readings.

``There was almost a perfect relationship between the power of the wind and the power of the wind-generated noise,'' Makris said.

Hurricane forecasters from Colorado State University yesterday raised the number of Atlantic storms they expect this year to 15, including eight hurricanes. The U.S. East Coast and the Gulf Coast, home to dozens of oil and gas rigs, have about a 45 percent chance of being hit by at least one major hurricane, defined as a storm with winds of more than 111 miles (179 kilometers) per hour. That compares with a historical average of about 30 percent for those two areas, the forecasters said.

Makris will seek to confirm the findings from Hurricane Gert at Socorro, an island off Mexico's west coast that lies in the one of the world's most storm-prone areas. Underwater microphones have been placed in water close to the island, waiting for the next storm, Makris said.

Hydrophones, the underwater microphones, ``provide a way of inexpensively getting an accurate measure of the destructive power,'' Makris said. Countries that lack money for aircraft monitoring ``could really benefit from that.''

To contact the reporter on this story: Jim Efstathiou Jr. in New York at jefstathiou@bloomberg.net.

Last Updated: April 10, 2008 16:38 EDT

brikk that 50k was a buy at 76 the bid was at 75 and the the ask at 77

sleektrader, was that about a vessel called solitaire

4.00 gallon for gas
Close WindowE-mail This PageGas Tops $4 A Gallon At Some Chicago Pumps







| Print Gas Tops $4 A Gallon At Some Chicago Pumps
Prices Expected To Climb Higher As Weather Gets Warmer
Reporting
Dana Kozlov CHICAGO (CBS) ― Even though we're already used to high gas prices, you may still get sticker shock next time you fill up.

Premium gas at some Chicago pumps has reached an unfortunate milestone – $4 a gallon – and it's not even Memorial Day yet.

And CBS 2's Dana Kozlov reports analysts predict regular will soon hit the $4-mark, too.

"That bums me out a whole lot," said Chicago driver Marlong Fulgham. "I think I'm going to start taking the CTA."

Fulgham isn't kidding and he probably won't be the only one to make the switch when gas prices get that high. That's expected to happen in May in the Chicago area, when the required summer blend hits the pumps. That blend isn't produced in the same quantities as standard blends of gasoline.

"I don't know if I'm going to be putting a lot more gas in my car. I'll probably stow it away for the summer and just take the bus or a cab," said Chicago resident Marco Cabral. "Prices are getting too high, they're too expensive."

"This year we're not going anywhere, I don't think, for the summer," said Illinois driver Caitlin Crotty.

Gas is just one of many living expenses on the rise. Electric bills, heating bills and food prices are all increasing, too. It's hitting a lot of folks hard. But some drivers say with record high fuel prices, it may be time to drastically change our own driving habits.

"I think we need to look at ourselves just as well," said Chicago driver Lisa Rapoport. "Honestly, we use a lot of gas as a country and I think it's been this expensive in Europe for a long time and we're only just starting to feel it now."

An AAA spokesperson says gas prices are often higher in Chicago than other areas because of taxes.

No matter where you go to fill up right now, prices are already at or near an all-time high – a reality that likely isn't going to change.

(© MMVIII, CBS Broadcasting Inc. All Rights Reserved

there trading after hours

Oil prices surge on weaker-than-expected inventories
Wednesday April 9, 2:25 pm ET
By Kenneth Musante, CNNMoney.com staff writer


Oil prices surged to record levels Wednesday, topping $112 a barrel, after a government report showed an unexpected decline in crude supplies

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killing the golden goose

Devon's Out Of Africa: Equatorial Guinea Assets Sold, Focus On GOM

by Kerry Laird Rigzone
Tuesday, April 08, 2008


Devon Energy will sell its oil and gas assets in Equatorial Guinea for $2.2 billion and shift its focus to nearly two-dozen hot Gulf of Mexico prospects, a company spokesperson told Rigzone.

"We are heavily engaged in exploration and production in the Gulf of Mexico," said Devon spokesperson Chip Minty. He added that Devon has 20 prospects left to drill in a "very exciting area" where the company has a "good deal of running room."

The company is seeking to move its assets and rededicate its efforts with a passion on the hot Gulf of Mexico prospects, said Minty

Florida County Commissioner Pushes for GOM Oil Drilling

by Julia Ferrante Tampa Tribune
Thursday, March 27, 2008


If County Commissioner Jack Mariano has his way, state and national leaders will jump on the bandwagon of offshore oil and gas drilling in the Gulf of Mexico.

The District 5 commissioner, who represents northwest Pasco, argues that foreign countries are cashing in on profits the state could be gaining instead. As the price of gasoline climbs closer to $4 per gallon, he reasons, government leaders should be looking for ways to increase the local supply.

Mariano faces strong opposition to his plan, however, not the least of which comes from his fellow board members, who passed a resolution by a 4-1 vote Tuesday urging Congress to resist "any attempts" to allow drilling along the Florida coast. State leaders also have opposed such efforts, but the decision would be up to national leaders

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Wellstream Wins LOI for Phoenix FPU from Helix
Wellstream International Monday, October 09, 2006


Wellstream International has received an LOI from Energy Resource Technology GOM, Inc., a wholly-owned subsidiary of Helix Energy Solutions Group, Inc., for the direct supply of flexible risers and jumpers for the Phoenix project which is located in 670m water in the Gulf of Mexico. This project will be delivered, to an aggressive manufacturing schedule, ex-works from Wellstream's start-of-the-art facility in Newcastle on December 31, 2007.

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The scope of work includes:
- Two 1,000m 5.625-inch production risers
- One 1,000m 6-inch oil export riser
- One 1,000m x 6-inch gas export riser
- Four 30m 5.625-inch production jumpers

The Phoenix Field (formally operated by Chevron/BHP as Typhoon) will be developed using a ship shaped FPU (Floating Production Unit) which will be the first of its kind in the Gulf.

Gordon Chapman, CEO says 'This is a key milestone award as the Phoenix project is considered one of the final steps before complete FPSO solutions will be allowed to operate in the Gulf of Mexico. Flexible pipe is a major enabling technology, and Wellstream has had flexible risers operating successfully for many years in the Gulf of Mexico, which is now considered to be one of the worlds most challenging offshore operating environments

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