ExxonMobil on Tuesday posted a 58 percent drop in quarterly profit, and a 50 percent decline in 2015 earnings. The Irving, Texas company reported earnings of $2.8 billion for the fourth quarter of 2015, with full-year profit at $16.2 billion. Higher Downstream and Chemical earnings were offset by sh
Houston-based Anadarko, the developer of the Mozambique LNG project, reported a net loss of $1.25 billion for the fourth-quarter of 2015, compared with a loss of $395 million in the year-ago quarter. Anadarko expects to spend $2.8 billion in 2016, which would be nearly 50 percent lower than the comp
UK-based oil and gas giant BP reported on Tuesday a loss of $6.5 billion in 2015, the company’s worst annual loss in over 20 years. BP also said it expects to reduce the number of staff and contractor roles in the Upstream segment by around 4,000 during 2016 and by up to 3,000 from the […]
Siem Offshore, a Norwegian shipping company, has terminated a charter agreement for its multi-purpose field & ROV support vessel (MRSV) Siem Marlin. According to the shipping company, the charter party between Siem Offshore and Marine Engineering Diving Services (MEDS) dated May 13, 2015 has been te
The construction of the 288 MW Sandbank offshore wind farm in the North Sea is progressing well, with 69 out of 72 foundations now in place, and the installation of the turbines scheduled to start in the summer, according to Vattenfall. The offshore construction work commenced last summer; however,
The construction of the 288 MW Sandbank offshore wind farm in the North Sea is progressing well, with 69 out of 72 foundations now in place, and the installation of the turbines scheduled to start in the summer, according to Vattenfall. The offshore construction work commenced last summer; however,
Bahrain and Saudi Arabia have banned Iranian-flagged vessels from their ports, Gard said citing a GAC correspondent. As disclosed, the imposed restrictions introduced by the two countries stipulate that no dealings are to be undertaken with Iranian flagged vessels until further notice. What is more,
The U.S. District Court in Los Angeles, California has ordered the federal government to stop approving offshore fracking from oil platforms in the Santa Barbara Channel without engaging the public or analyzing threats offshore fracking poses to ocean ecosystems, coastal communities and marine life.
The four-member salvage team of SMIT Salvage has managed to board the drifting car carrier Modern Express earlier this morning and set up a tow line, French Maritime Authority said in an update. The tow line has been attached to the Spanish tug Centaurus, hired by Smit Salvage, which has now started
The Scottish Government has set aside £12 million ($17.2M) in order to help people who face losing their jobs in the oil and gas sector. According to a statement by the government, the fund, announced by First Minister Nicola Sturgeon, will be used to help those affected transition into other energy
GAIL of India has reportedly bought two spot liquefied natural gas cargoes from UK-based LNG player BG Group and Qatar. According to a report by Reuters, BG will supply a cargo of LNG for delivery in February, while Qatar’s cargo is for March. The February cargo was sold for around US$5/MMBtu, while
Almost a year after a hydrocarbon leak on the Statoil-run Gudrun platform offshore Norway, the Petroleum Safety Authority Noway has completed its investigation. According to the safety watchdog, also known as the PSA Norway, the investigation has uncovered serious breaches of regulation, spurring th
After more than a thousand dock workers staged a strike on Friday and closed traffic at the Port of New York and New Jersey cargo terminals, the operations are scheduled to restart today, the port said. The walkout lasted several hours and affected overseas shipments at ports in New York City, Eliza
Due to the current oil crisis, the Dutch Port of Den Helder has decided to opt for a substantial transition from offshore vessels to market diversification, the port said. Namely, the port reported a decrease of 10 percent in the number of offshore, oil and gas, vessels entering the port. The number
