Geopolitical tensions in recent years, and indeed months, have turned the oil market into a very fine balancing act. Technically, the Organization of Petroleum Exporting Countries (OPEC) is an experienced player when it comes to fine-tuning, but it is the market that dictates the levels of oil prices. And it is when prices either rise too high, or drop too low, that OPEC becomes concerned.
With the recent conflict in Iraq and tensions running high in the Gulf, OPEC (Organization of Petroleum Exporting Countries) has demonstrated a high degree of flexibility and foresight in its efforts to manage oil prices and production. But for Dr Alvaro Silva-Calderón, OPEC’s Secretary General, the key to stabilizing the oil markets in the future will require a new focus on international co-operation.
DNV is working with North Sea newcomer CNR International (UK) Ltd, a subsidiary of Canadian Natural Resources, to help the company realise its goal of excellence in integrity Management.
Camacari, South America’s largest petrochemical complex, is committed to being one of the world’s safest industrial zones.
While integration of Bergesen is running smoothly, a mountain of rules mean shipping is losing its traditional freedom of the seas, international character and diversity according to World-Wide Shipping Group chairman, Dr Helmut Sohmen
The USCG and the European Commission appear to be taking a hard line on enforcement of the International Ship and Port Facility Security (ISPS) Code – no matter what the consequences.
Singapore is taking tough measures to prevent terrorist attacks on ships without hampering trade. In his opening speech at a recent maritime security seminar, the Senior Director of the Maritime and Port Authority of Singapore (MPA), Lee Seng Kong, stated that "the maritime security measures adopted by the IMO are necessary to further safeguard the world maritime trade from the threat of terrorist attacks."
With the end of the Iraq war, shipping is booming again in the Arabian Gulf, but how long will it last? Abdulla Mady Al-Mady, the president and chief executive officer of the United Arab Shipping Co. S.A.G, is not afraid of a short term recession in the shipping market in the Arabian Gulf - in fact he sees new possibilities for expansion on a long-term basis.
The head of DNV Research, Carl Arne Carlsen, leads an organisation that is invariably thinking many years down the technological timeline. His is a group that will help determine how business is done, both by DNV and related industries, into the next generation.
Odense Steel Shipyard Ltd. A/S in Denmark is joining forces with Japanese and Korean shipbuilders to test out brand new technology that is expected to revolutionize modern shipbuilding. IntelliShip utilizes virtual reality to enable simultaneous engineering projects to be completed more rapidly.
The processes required to mine precious metals dictate the management of a variety of major accident hazards. Consequently, the successful delivery of a robust and comprehensive risk management programme is a critical business performance indicator.
Facing the severe consequences of global warming, climate change has emerged as a key concern for the World Bank. The Prototype Carbon Fund, which was established four years ago to demonstrate how project-based emissions transactions can mitigate climate change, is now being fine tuned with the help of DNV.
The giant Horns Rev windfarm development off Denmark confirms the country’s leading role in the renewable energy sector of Europe, rivalling the position of its neighbour Germany. The project, it appears, has put wind in the sails of the European race to be first in the field.
DNV’s CEO Miklos Konkoly-Thege is committed to supporting the nine core principles of the UN Global Compact agreement as part of advancing Corporate Social Responsibility in DNV.
Italian confectioner Maina Panettoni, SA8000 certified by DNV two years ago, has won the prestigious Corporate Conscience Award in the US.
Europe has formally joined the race to Mars with the launch of its Mars Express Satellite, a giant project in which DNV is also playing a part.
Thanks to DNV, BP is finding success in sustaining profitability in mature North Sea oil fields using a risk-based approach.
The 93,844gt LNG tanker Berge Boston, below, has become the first vessel to receive an International Ship Security Certificate from DNV
DNV has conducted an FPSO conversions risk study for the Monaco-based French/Dutch company SBM (Single Buoy Mooring) Inc.
Showing through everyday operations that shipping is a responsible business is the only way to improve the public image of this industry. Here also lies the key to convincing politicians, bureaucrats and the media that shipping deserves to be heard when controversy arises.