Polarcus, a marine geophysical company, on Wednesday posted a profit for the first quarter of the year, compared to a loss in the same period last year owing to financial restructuring. Polarcus’ net profit for the first quarter of the year totaled $145.9 million, compared to a net loss of $26.4 mil
French gas and oil giant Total reported on Wednesday a drop of 37% in its adjusted net income in the first quarter of this year. Total’s adjusted net profit stood at $1.6 billion, as compared to $2.6 billion in the same quarter a year before, Total said in a statement. “Despite a 37% fall in the Bre
Prosafe, an operator of semi-sub accommodation units known as flotels, has decided to scrap three of its oldest units, and to cold stack other units starting with the Safe Astoria. The company said on Wednesday that it would scrap its 1982-built Jasminia, the 1977-built Hibernia and Safe Britannia,
Norwegian oil giant Statoil returned to profit in the first quarter of 2016 as it managed to partly offset the effects of the low oil price environment with cost cuts and impairment reversals. Statoil’s net profit for the quarter was $607 million, compared to a $4,578 million loss in the same quarte
Portugal has on Tuesday received the first cargo from Cheniere’s Sabine Pass LNG export terminal in Louisiana. This is the first U.S. LNG cargo produced from shale gas to reach Europe.
UK-based LNG engineer Amec Foster Wheeler on Wednesday informed it has named Jonathan Lewis as chief executive officer, effective June 1, 2016.
Awilco Drilling, a UK based drilling contractor, has informed that the semi-submersible rig WilPhoenix is ready to continue its contract with Apache in the North Sea, but the oil company does not seem to agree with Awilco. After the yard stay for the WilPhoenix rig took longer than anticipated leavi
The United States Pipeline and Hazardous Materials Safety Administration issued a notice for a public workshop on LNG regulations to be held on May18-19, 2016.
German oil and gas exploration and production company Wintershall is setting up a facility in an Abu Dhabi port to support its drilling activities in the region. The company’s subsidiary Wintershall Middle East GmbH has signed a deal with Abu Dhabi Ports, the operator of Khalifa Industrial Zone (Kiz
Royal Dutch Shell, the oil and gas company and one of the owners of the Egmond aan Zee offshore wind farm, has given the Dutch government something to think about ahead of the general election in 2017, asking the country’s leaders to boost offshore wind ambitions. Shell emphasised the importance of
Flex LNG, the company controlled by billionaire John Fredriksen, said it has agreed amended terms with Metrogas Holdings, an affiliate of Geveran Trading, to extend the working capital loan entered into in 2014. The additional working capital will help Flex LNG to operate until delivery of its two L
British oil giant BP has received consent from the Petroleum Safety Authority (PSA) to extend the operating life of the Ula oil export pipeline located offshore Norway. The offshore safety authority has now given BP consent to operate the pipeline until the production licence expires on December 31,
Nordic Trustee, acting as a bond trustee for a bond issued by Harkand Finance, has exercised its right to terminate charters for two Harkand’s vessels. In a filing on Oslo Bors on Tuesday, Nordic Trustee said that the Bond Trustee has exercised its right to terminate the internal bareboat charters f
Offshore marine services provider, PACC Offshore Services Holdings (POSH), has been awarded long-term charters for eight offshore supply vessels with a combined value of approximately $167.5 million by a Middle Eastern national oil company. The group will supply eight Anchor-Handling, Supply and Saf
