Oil reserves discovered offshore Ghana could be sufficient to one day allow production from three floating production, storage and offloading, or FPSO, vessels, said Tullow Oil Wednesday.

Wärtsilä has received an order to power the new cruise vessel of Carnival Corporation, USA carrying the preliminary name Carnival Dream 3. The vessel will be built by the Fincantieri Monfalcone shipyard in Italy and its launch is scheduled for August 2011.

Transnet Port Terminal reports that its R5.6 billion, five-year investment plan aimed at increasing the capacity of the Cape Town Container Terminal is progressing according to schedule.

Schlumberger has acquired Nexus Geosciences, which will become a part of the WesternGeco business unit.

Uganda will deliver its decision on UK explorer Tullow Oil's purchase of Heritage Oil's assets in the country by April, according to reports.

RWE and SOCAR signed a memorandum of understanding for hydrocarbon exploration and development in the Azerbaijan sector of the Caspian Sea.

Russia should move to a profit-based tax regime to help oil companies realise new projects essential to future output growth in the world's biggest crude producer, a senior official at Gazprom Neft said.

Tullow Oil's financial results for 2009 are in line with market expectations and ensure the Group remains well funded to continue to execute its medium term exploration, appraisal and development programmes.

After encountering oil at the Ellislie Plantation #1 well in Mississippi, Austin Exploration is evaluating core samples and will work towards the production casing and completion of the well.

Libya is considering giving priority to Chinese and Russian firms over U.S. energy companies because of its diplomatic row with Washington, a newspaper quoted Libya's top oil official as saying.

Libya is considering giving priority to Chinese and Russian companies over US energy companies because of its diplomatic row with Washington, according to reports.

CNOOC and Total are each expected to acquire a third of Tullow's oil assets in Uganda.

Iraq-focused oil explorer Gulf Keystone Petroleum said today it planned to take over its joint venture in Kurdistan after its partner defaulted, in a deal requiring significant fundraising.

TGS has confirmed the continuation of its multi-client 2D seismic acquisition programme in offshore Indonesia. An additional 7,300 kms of 2D seismic data is now being acquired in three areas along the Sundaland Margin.

ExxonMobil has strongly denied reports that it will not pay income tax on earnings from the giant PNG LNG liquefied natural gas project under recent changes to Papua New Guinea’s tax law.

EnerMech has invested 300,000 in constructing two bulk storage buildings at its Aberdeen headquarters.

Oil edged higher towards $82 per barrel but without clear momentum as investors waited to see if data on US stocks later today would provide impetus as Opec's monthly report gave little fodder for bulls.

Sakhneftegaz Engineering, a unit of Australia’s WorleyParsons, has won further engineering and early procurement work worth up to $400 million on the topsides for the Arkutun-Dagi gravity base to be installed off Russia’s Sakhalin Island.

Malaysia’s Petronas is keen to team up with Norwegian oil and gas companies on deep-water exploration, newly appointed chief executive Shamsul Azhar Abbas said.

Eni boss Paolo Scaroni suggested that the competing Nabucco and South Stream pipelines would benefit by merging for at least part of their route.

Oil services group OEG Offshore has expanded into Australia's Northern Territory through its link-up with a Darwin-based fuel handling equipment specialist.

Middle East oil producers are showing increasing confidence in the fledgling Dubai Mercantile Exchange (DME), coming around to the idea that the liquidity they hope to see may only develop after they shift their benchmark pricing, the exchange's chief executive said.

The ultra-deep St Malo project has strengthened Statoil's confidence in its decision to invest in offshore Gulf of Mexico projects, Statoil's chief executive Helge Lund said.

The Government of Western Australia has granted ten new exploration permits to companies looking to develop geothermal energy projects in Western Australia.

President Barack Obama's top environmental adviser urged the natural gas industry to disclose the chemicals it uses in drilling, warning that the development of massive US shale gas reserves could be held back otherwise.

The US has vast supplies of natural gas locked tight in shale that could offer a long-term energy solution, but the government is ignoring the resource's potential, ConocoPhillips' chief Jim Mulva said.

Pirates have hijacked a Norwegian tanker off the coast of Madagascar and are steering the ship toward Somalia, the ship's owner said.

China is to lend Sri Lanka just under $200m to build a second international airport in the south of the island.

Singapore-based Kim Heng Shipbuilding and Engineering is on track to deliver on time and within budget, a newbuild pipelay and accommodation barge, McDermott LB32 to J Ray McDermott.

Ferguson Modular, a major supplier and manufacturer of offshore accommodation solutions for the energy industry around the world, has appointed a new Chief Operating Officer to lead its Accommodation Support Vessel (ASV) division.

AP - Somali pirates have seized a Kenyan-flagged fishing vessel, the European Union Naval Force said Tuesday.

DK Group announced the launch of the Air Cavity System (ACS) Retrofit for existing vessels. The new technology - a development of the original ACS that was specifically designed for new vessels - can be retrofitted at standard drydock or in most ship and repair yards in just 14 days.

Last winter Reuben Trane, owner of Island Pilot was contacted by the producers of Discovery Channel’s HD Theater who were interested in featuring his DSe Hybrid 12m in an episode about the world’s most expensive rides.

The Maldives will make its territorial waters into a shark sanctuary, a government official said Tuesday.

AFP - Brazil and Germany differed sharply Wednesday on whether to threaten Iran with fresh United Nations sanctions in a bid to rein in its disputed nuclear program.

Every year tonnes of electrical goods and used clothing from the West find their way to Africa. Is this killing the continent?

EU nations decide to support a ban on international trade in Atlantic bluefin tuna until stocks recover.

The UK donates £1m ($1.5m) to South Africa to buy 42m condoms, as the nation builds up to the football World Cup.

Three people who apparently jumped to their deaths from a Glasgow tower block were from Russia, police confirm.

AP - Samsung and Panasonic will start selling 3-D TVs in U.S. stores this week, inaugurating what TV makers hope is the era of 3-D viewing in the living room.

The endangered deep sea animal, sea cucumber, has been seized from a restaurant at a five star hotel in the Indian capital, Delhi, officials say.

AP - A senior Google executive welcomed on Tuesday a U.S. decision to relax restrictions on exporting Internet communications services to Iran, Sudan and Cuba.