Island Offshore, a Norwegian offshore vessel supplier, doesn’t expect the market for the platform supply vessels to rebalance soon. The company said that the PSV market is still characterized by continued oversupply despite the increasing number of stacked vessels. “We do not see any signs of a rest
Subsea 7, a subsea engineering, construction and services company, has posted a tighter net loss in the 4Q 2015 when compared to the prior-year quarter, and a drop in revenues due to lower activity. In addition, Subsea 7 said in its 4Q results report on Wednesday that the company’s workforce was red
Shippers continue to experience poor quality services and disruption to their supply chains since the consolidation of the world’s 20 top lines into 4 ‘super alliances’, the Global Shippers’ Forum (GSF) says, calling for urgent resolving of the issue. In particular, the shippers are faced with bunch
U.S. based LNG engineer Fluor on Tuesday said it has completed the acquisition Stork, a Dutch industrial services company, from Arle Capital Partners. valued at €695 million ($755 million).
Downeast LNG, that is proposing to build an LNG export terminal in Robbinston, Maine, filed a request with FERC seeking the commission to continue hold on the review in abeyance until June 1, 2016.
Noreco’s subsidiary, Noreco Norway, has entered into a sale and purchase agreement with Det norske oljeselskap for the sale of its remaining exploration licences, employees and a cash balance of ca. NOK 45 million, to be adjusted for working capital. The effective date of the transaction is January
Norwegian oil company Statoil has been awarded six licensing options in Ireland’s 2015 Atlantic Margin Licensing Round. Statoil will be the operator of four Licensing Options and partner in two licensing options, operated by ExxonMobil Exploration and Production Ireland (Offshore South) Limited. Sta
Flogas Britain, distributor of liquefied natural gas in the UK on Tuesday revealed it plans a multi-million pound investment in LNG distribution fleet.
Gazprom Export recently informed it will start its second gas auction offering more than 560 mcm of gas for the Baltic States.
British oil company BP has extended a contract with Subsea 7 for the provision of subsea construction, inspection, repair and maintenance (IRM) services in the North Sea. Subsea 7 will provide BP with an additional two years of IRM delivery, extending the contract to 2019. The deal covers the mainte
Anadarko, a U.S.-based independent oil and gas exploration and production company has cut its capital expenditures plan for 2016. More precisely, the company plans to reduce year-over-year capital investments by almost 50 percent. The most cuts will come at the company’s onshore activities in the U.
By Karolin Schaps LONDON (Reuters) – Oil prices rose on Tuesday after China’s surprise monetary policy easing stoked expectations for higher oil demand from the world’s largest commodities consumer and signs emerged that a global supply glut was starting to deflate. Benchmark Brent crude futures <LC
Woodlands-based Anadarko on Friday said it will slash its 2016 spending by almost 50 percent, and expects minimal funding in its Mozambique LNG project during the year. Anadarko expects capital investments will be in a range of $2.6 billion to $2.8 billion in 2016, down by almost 50 percent as compa
At least two crew members are missing after a Taiwanese fishing vessel collided with a 1987-built containership Shin Chun off Kaohsiung in the morning hours of February 29, Taiwan’s Coast Guard informed. According to the official statement, the two missing people, Taiwanese and Indonesian nationals,
